Matt Thompson, Allianz

Matt Thompson is an account analyst on an underwriting management graduate trainee scheme at Allianz. He has a BSc in mathematics from the University of Warwick and has since gained a certificate in insurance from the Chartered Insurance Institute (CII).

Why did you want a graduate job as an underwriter?

I chose underwriting because I was keen to put my mathematical background to good use and the concept of risk transfer in exchange for money intrigued me. I first joined my employer as an actuarial intern and was delighted to be offered a place on their underwriting graduate scheme three months later. I was attracted to my company as they are one of the dominant general insurers in the UK, with a reputation for producing some of the most technically capable underwriters in the industry.

What do you do?

I work within the commercial SME (small to medium-sized enterprises) sector of the business. I started out on the scheme as an assistant account underwriter but, 18 months in, I am now an account analyst. I monitor and analyse how the SME business account is performing month by month, propose any necessary pricing changes to premiums and deliver reports directly to my team’s lead account analyst. I’m based in head office, so I also have the benefit of working alongside influential, top-level people.

'I particularly enjoy the mix of analytical skills and commercial acumen that my role demands.'

What do you like best about your being an underwriter?

I particularly enjoy the mix of analytical skills and commercial acumen that my role demands. It requires extensive commercial knowledge about different occupations, their related hazards and risks, and how these should be priced, as well as the analytical and statistical expertise to anticipate how new written business will affect the overall account.

Are you taking a professional qualification in insurance?

Yes, my employer is currently supporting me through my Advanced Diploma in Insurance, granting me an afternoon off each week to study. Revision takes up a lot of my free time in the run-up to exams, but this is a small sacrifice to make in return for the qualifications and experience I’m gaining.

Does working in the insurance industry differ from its reputation?

The cautious and risk-averse nature of the products we sell may fuel the misconception that insurance is a dull and boring profession, but I’ve found that this is by no means true. The industry is continually striving to disprove its dull stereotype and recruiters are looking for exciting, innovative new graduates to take the business forward.