Business Development Executive - Reinsurance (AVP or VP)

Descartes Underwriting; Minneapolis (MN); On-site; USD 150,000 - 210,000; Full time

Benefits offered by this job

Comprehensive benefits

Competitive salary

Bonus potential

Generous PTO

Career development

Job summary

Descartes Underwriting Group is seeking a Business Development Executive - Reinsurance (AVP/VP by experience) to expand our reinsurance and retrocession activities across the Americas. You will originate and close deals, strengthen broker and cedent relations, and position our parametric solutions as a strategic risk-transfer tool.

Travel will be required to engage with markets in the US and beyond, working closely with underwriting and modelling teams to translate client needs into tailored

Qualifications

• Minimum of five years in reinsurance in a BD, broking or underwriting role.
• Proven track record originating and closing reinsurance with cedents/brokers.
• Strong understanding of treaty and facultative reinsurance concepts.
• Excellent written and verbal communication in English.
• Established US broker and cedent network.

Responsibilities

• Originate, structure and close new reinsurance and retrocession deals.
• Develop and deepen relationships with brokers, cedents and reinsurers in the Americas.
• Collaborate with underwriting and modelling teams to tailor parametric solutions.
• Monitor market developments and contribute to strategy with the SVP.

Skills

5+ years reinsurance

Business development

Negotiation skills

English communication

US broker network

Job description

ABOUT DESCARTES UNDERWRITING

Join Descartes and contribute to our mission: Building Resilience in a World at Risk.

Descartes is a corporate insurance group for worldwide companies and institutions. Descartes was born from a conviction that the growing complexity of corporate and climate risks demands a new approach to insurance. At the forefront of AI and Data analysis, Descartes utilises cutting-edge technology combined with a new generation of data sources, to model, assess and manage risks.

Since 2019, Descartes has secured a leading position in parametric (re)insurance combining scientific & technological expertise with a new approach. Parametric insurance, also known as index-based insurance, indemnifies clients within days based on pre-defined payout structures when a specific triggering event occurs, the payout process is both fast and transparent. The company has been financed with over $141M by investors including Highland Europe, BlackFin, Serena, Cathay, Eurazeo and Battery Ventures.

Our highly diverse and specialized team of 250+ people includes the largest modelling team in the industry featuring tech and modeling innovators, scientists in physics and climatology, as well as insurance veterans and underwriters. With a global footprint and strong US presence, Descartes serves a diverse portfolio of clients in more than 60 countries, with 20+ offices spread across Europe, Asia-Pacific, Latin and North America.

Find out more on https://descartesunderwriting.com/careers.

ABOUT YOUR ROLE

Descartes is hiring a Business Development Executive - Reinsurance (AVP or VP depending on experience) to grow our reinsurance and retrocession business in the Americas. Reporting to the SVP, Business Development - Reinsurance & Retrocession, you will originate and close new reinsurance business, deepen relationships with reinsurance brokers and cedents, and position Descartes' parametric solutions as a strategic tool in their risk transfer programs.

This role calls for an experienced reinsurance professional with an entrepreneurial, builder's mindset - someone who combines strong market credibility and technical understanding of reinsurance structures and Nat Cat risk with the energy to build a pipeline and win business in a fast-growing company.

You will work closely with the SVP, the wider Americas business development team, and Descartes' underwriting and modelling teams in the US and Paris, and will travel regularly to be in the market with brokers, cedents and partners.

1. Originate and Grow Reinsurance Business

• Originate, structure and close new reinsurance and retrocession business, and secure renewals, in line with the reinsurance sales plan set with the SVP and the Head of Americas.
• Build and maintain a strong, well-qualified pipeline across target cedents, segments and perils; keep CRM and forecasting up to date.
• Personally lead deals through the full sales cycle, from prospecting and submission to negotiation and binding.
• Contribute to the reinsurance business plan and targets, identifying priority opportunities and markets.

2. Develop Broker and Cedent Relationships

• Expand and deepen Descartes’ network of reinsurance brokers, cedents and reinsurers across the Americas.
• Develop and promote the value proposition of Descartes’ parametric products as a complement to traditional indemnity reinsurance programs.
• Represent Descartes at reinsurance renewals, industry meetings and events, including occasional public speaking engagements.

3. Partner with Underwriting and Modeling

• Work closely with underwriting and modelling teams to translate cedent needs into tailored parametric structures and pricing.
• Ensure submissions are complete and well-positioned, and that business written meets Descartes' underwriting standards and guidelines.
• Feed broker and cedent feedback into product development to expand the addressable market.

4. Market Intelligence and Collaboration

• Monitor reinsurance market developments, renewal dynamics and competitor activity, and share insights with the SVP and wider team.
• Collaborate with the Americas business development team (retail, wholesale and ART) and colleagues in other Hubs to pursue cross-channel and global opportunities.
• Support knowledge sharing and, where relevant, mentor more junior team members.

ABOUT YOU

Must haves

• A minimum of five years in reinsurance in a business development, broking or underwriting capacity.
• Proven track record originating and closing reinsurance business with cedents and reinsurance brokers.
• Strong understanding of reinsurance structures (treaty and facultative) and the renewal cycle
• Understanding of Nat Cat perils and catastrophe modelling concepts.
• Established network among US reinsurance brokers, cedents and reinsurers.
• Consultative selling and negotiation skills, with the ability to lead complex, multi-stakeholder deals.
• Strong analytical capabilities and financial acumen.
• Excellent written and verbal communication skills in English.

Preferred but not compulsory

• Experience with retrocession, ILS or alternative risk transfer.
• Expertise in the parametric risk space.
• Experience in a scaling company, MGA or insurtech environment.

WHY JOIN DESCARTES UNDERWRITING?

• Unique opportunity to have significant impact on emerging risk solutions across the industry and within Descartes;
• Be a key player in an innovative, fast-growing business success story in the parametric industry;
• Learn, grow fast, and go deep in a high-conviction, tech-driven environment;
• Work in a collaborative & professional environment;
• Be part of a dynamic international team, passionate about diversity;
• Join a company with a true purpose – help us help our clients be more resilient towards climate risks;
• A competitive salary, bonus and benefits.

BENEFITS & PERKS:

• Comprehensive medical, dental and vision insurance plans
• Life and disability insurance
• 401k savings plan and matching employer contribution
• Generous paid time off
• Generous paid parental leave

At Descartes Underwriting, we cherish the value of diversity whatever it may be. We are committed to fighting against all forms of discrimination and for equal opportunities. We foster an inclusive work environment that respects all differences.

With equal skills, all our positions are open to people with disabilities.