Underwriting Specialist - Inland Marine
Allianz
- Chicago, IL
- $96,944-166,190 per year
- Permanent
- Full-time
- Underwrite new and renewal accounts to meet top and bottom-line targets. Negotiate price and terms and conditions with producers. Proactively manage capacity. Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modeling and interpretation of scenarios (for relevant LoBs). Underwrite International Insurance Programs (for relevant LoBs).
- Underwrite in line with LoB governance framework - e.g., Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles. Ensure contract certainty is achieved on all accounts at time of inception. Ensure utilization of global pricing tools. Ensure placing and binding of FAC Reinsurance prior to policy inception.
- Ensure accurate policy documentation issued to producers (where AzC responsibility to do so) or producers has issued documentation (where producer responsibility). File maintenance - ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled. Proactively support completion of policy administration and credit control processes.
- Contribute to development and execution of regional Underwriting strategy for LoB regionally. Training, developing and coaching of less experienced staff (including Underwriters). Manage complex referrals from underwriters and spokes and re-underwrite complex business as appropriate. Delegate work as appropriate
- Proactively support acquisition of new business and retention of existing business (including client and producer negotiations where necessary). Proactively liaise with MMC on market management initiatives
- Positively represent AzC externally to the market. Proactively drive involvement of functional areas in Underwriting process, including e.g., MMC, ARC, Claims, Operations. Develop and maintain strong relationships with key producers and clients and other relevant stakeholders (e.g., risk managers).
- Minimum 5 years' significant experience in Underwriting profitable business in Marine LoB. Specialized expert understanding of sub-LoB products and portfolio.
- Recognized relationships with brokers at peer group level and well established within market. Specialized understanding of regional/local LoB insurance markets and competitor landscape, including global elements.
- Good understanding of legal and regulatory framework. Experience working in complex, global matrix organization.
- Preferably a bachelor's degree in Insurance, Risk Management, Finance, Economics or Business Administration. And completion of a professional insurance qualification (i.e., CII).
- Ability to assess risk inherent exposures and natural hazards relevant to lob. Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs. Design, develop and implement consistent, robust wordings. Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation.
AzC has an in-house recruitment team, which focuses on sourcing great candidates directly. AzC does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly.#LI-NG1 #LI-Hybrid