Today we had introductions and orientation and then went to Lloyds and sat in the box and shadowed the treaty team, which focuses on reinsurance. They went through the process of underwriting a new piece of business, explaining what to look for, and what makes a risk unfavorable. It was an eye opening experience to watch the brokers walk around and approach the underwriters to write business. It's an old school way of doing business, but it also makes transactions quick and eliminates the back and forth of emails that can slow things down. It was very clear that the underwriters have built great relationships with many of the brokers because they see them almost every day.
The team hosted an enjoyable lunch where we discussed more about Chaucer, reinsurance solutions, and mixed in some fun conversation about ice fishing, U.S. sports and travel.
After lunch we headed back to Lloyds and met with a casualty underwriter who focuses on GL & E&O for the US primarily. It was again, very fast paced, but fun to watch and listen. As it turns out he works frequently with RT Specialty out of Chicago, small world!
At 4:30pm we wrapped things up and headed back to the apartments to check emails and get changed for dinner. We had dinner at a lovely little Italian restaurant and shared a pizza that was to die for!
Adam, Cale & Emily