Underwriter Space Economy

WHO WE ARE

Based in Bermuda, Relm Insurance Ltd. (“Relm”) is the first IIGB (Innovative Insurer General Business) insurer regulated by the Bermuda Monetary Authority (“BMA”). Since inception, Relm has remained focus on its Vision of “Making Innovation Resilient” by providing insurance to companies pioneering new horizons in technology in more than 35 countries around the world. Relm’s dynamic global team has executed market-leading insurance solutions for companies operating in web3, AI, financial technology, biotech and other important emerging sectors.

WHAT WE ARE LOOKING FOR

At Relm Insurance Ltd, our Mission is “To contribute to the building of the future by creating solutions for complex risks in innovative markets.” In our pursuit to lead the market in these emerging areas of innovation, were seeking a dynamic and curious individual for the role of Underwriter, Space Economy. This is an important role in assisting Relm to redefine the insurance landscape by creating and pricing pioneering risk solutions.

In addition professional insurance experience, this role will require an aptitude for creativity, critical thinking, problem-solving, and a willingness to approach underwriting and product development initiatives with a solution-oriented mindset.

At all times, the Underwriter must embody Relm’s Core Values of Accountability, Collaboration, Curiosity & Creativity, and Courage & Optimism and continually reinforce the importance of these values with all team members.

WHAT YOU WILL DO

Underwriting the Space Economy

• Source, underwrite, price, and negotiate commercial risks in the Space Economy including technology risks associated with the supply chain and downstream providers as well as launch and in-orbit risks, in line with the company’s strategy and risk appetite to ensure profitability, retention, and written premium goals are achieved.
• Exercise discretion and independent judgment in the analysis and evaluation of risk to achieve optimal outcomes
• Negotiate and draft insurance products and endorsements.
• Develop relationships with brokers and policyholders to establish new distribution relationships and organic growth opportunities.
• Conduct market research to identify new product development opportunities and more effective underwriting methods.
• Assist with strategic planning by developing and maintaining suitable management information to effectively evaluate the portfolio.
• Effectively market and articulate the company’s value proposition and product offering to brokers and clients.
• Collaborate with colleagues to achieve goals and drive cross-sell opportunities.
• Communicate directly and proactively with clients to understand and underwrite their innovative technologies.
• Work in partnership with clients, brokers, and third parties to develop unique and tailored solutions (including insurance products) to mitigate the risks arising from these.
• Contribute to the development of groundbreaking insurance products that address complex and emerging risks. This includes creating new product concepts, designing features and endorsements, and ensuring that products are tailored to meet the evolving needs of our current and future clients.
• Liaise and collaborate with internal stakeholders, such as Distribution, Underwriting, Actuarial, Claims, Reinsurance, and Technology (among others) to research, evaluate and underwrite these complex risks, ensuring a balanced approach between risk-taking and profitability.
• Work closely with actuaries to develop and refine rating models that accurately reflect the risks associated with emerging technologies in the Space Economy, ensuring competitive and sustainable pricing.
• Prepare detailed reports on risk exposures, highlighting potential impacts on the portfolio and recommending strategies to mitigate adverse effects.
• Conduct in-depth research on emerging trends, technologies, and regulatory changes in the Space Economy sector that could impact the insurance landscape. Use insights to inform product development and underwriting decisions.
• Collaborate internally and externally to conduct market analysis and competitor assessments to identify gaps and opportunities in the insurance landscape to inform product development and underwriting strategies.
• Represent the company at industry events, conferences and seminars as a subject matter expert on insuring emerging technologies. Contribute to white papers, blogs, and other thought leadership initiatives.
• Continuously seek opportunities to enhance underwriting processes and product offerings by integrating new technologies and methodologies.
• Ensure that all underwriting activities comply with regulatory requirements and internal policies.

General

• Collaborate with various internal departments on strategic initiatives for the business which may not be owned by Product Innovation but require support.
• Mentor and guide other Product Innovation team members and Underwriting staff, where required.
• Engage with, and contribute to, business-wide KPIs, including but not limited to: GWP targets, CSR requirements, and CPD requirements.

WHAT YOULL BRING TO THE TABLE

• Minimum of 3 years of underwriting experience in commercial insurances for innovative and fast-moving technology sectors. Experience in insuring the “new” space economy and its emerging technologies is a distinct advantage.
• Bachelors degree in aerospace engineering or a related field. Professional Insurance qualifications (e.g., ACII, CPCU) are highly desirable.
• Strong analytical and critical-thinking skills with the ability to assess complex risks and problem solve.
• Experience in developing rating models in collaboration with actuaries.
• Experience in developing product wordings through collaboration.
• Expertise in preparing risk exposure reports and presenting findings to senior management.
• Entrepreneurial mindset with a passion for innovation and staying ahead of industry trends.
• Excellent communication and interpersonal skills, with the ability to build strong relationships with internal and external stakeholders.
• Proven ability to work in a fast-paced, dynamic environment and manage multiple priorities.
• Strategic thinking with a strong business acumen and a results-oriented approach.
• Effective project management skills, with the ability to work across functions to meet deadlines and deliverables.
• Effective communication and presentation abilities, with a knack for conveying complex ideas in a clear and persuasive manner.
• Strong organizational and time management skills.
• Advanced skills across all Microsoft Office applications (familiarity with Mac OS is a plus).
• Ability to work outside of core hours and travel overseas, as required.

WHAT WE OFFER

• Generous Paid Time Off (PTO): You’ll receive 28 days of Paid Time Off (PTO) annually, giving you the flexibility to take care of personal matters or vacation.
• Full Health Coverage: The company fully covers your medical, dental, vision, life, and disability insurance to ensure you and your family are well taken care of.
• Paid Sick Days: 60 paid sick day as per the DIFC employment law.
• Professional Development & Mentorship: We invest in your growth through professional development opportunities, training, and mentorship programs, helping you advance in your career.
• Wellness Stipend: Take care of yourself with a monthly wellness stipend to support your health and well-being.
• Your Voice Matters: Work in an environment where your opinions and ideas are valued and play a crucial role in driving the success of our team.
• Endless Growth Opportunities: Enjoy a multitude of career growth opportunities, ensuring that you have the resources to thrive and advance within the company.

At Relm, you won’t just join a company - you’ll be part of a team that’s shaping the future. If you’re ready to make an impact, we’d love to hear from you.