Global Property Underwriting Leader

Munich Reinsurance America, Inc; Philadelphia (Philadelphia County); Remote; USD 246,000 - 400,000; Full time

Benefits offered by this job

Health insurance coverage

401k match

Paid holidays & PTO

Bonus eligibility

Wellness program

Job summary

Munich Re America Services seeks a seasoned Head of GSI Property Underwriting to lead a portfolio view of Property risks within the Global Specialty Insurance portfolio. This senior role requires directing underwriting strategy, guidelines, and risk controls across U.S.

underwriting units to support profitability and consistency. You will drive industry response, leverage quantitative analytics, and lead training initiatives while coordinating with BU underwriters, Claims, Reserving, and Pricing

Qualifications

• In-depth knowledge of Insurance Underwriting practices and procedures, skill in analyzing qualitative and quantitative data and decision making capability.

Responsibilities

• As Head of GSI Property Underwriting, you'll be responsible for the following:
• Setting the overall GSI Property Underwriting strategy, guidelines and risk management approaches.
• Oversight of GSI specific underwriting strategies and guidelines through the GSI Underwriting teams.
• Response to industry trends and their impacts on GSI portfolio results: when industry, regulatory and Claims events and trends are identified, coordinate consistent Underwriting response in terms of policy language, underwriting decisions, portfolio management etc.
• Implementation of the Global Property UW strategies and Global UW guidelines, where applicable.
• Expert handling of referrals from business units (BUs) seeking approval of risks outside their delegated authority and second set of eyes for difficult underwriting decisions including supporting the BUs through the GURC referral process.
• Thought leadership on Property topics, and leadership of Property Underwriting Roundtable. Support emerging risk analysis and cross platform initiatives with Property expertise. Evaluate Property Underwriting training needs, ensure needed underwriting training within GSI is conducted and contribute to Group training initiatives.
• Ensuring there are measurable standards for Business Unit Underwriting excellence, including KPIs, best practices, UW quality assurance, sufficient underwriting risk controls, appropriate response to market developments and results monitoring for primary BUs.
• Coordinate the established Underwriting Strategies and Mandates of the BUs to ensure consistent approaches to risk in the market.
• Conducting regional portfolio monitoring to identify opportunities for improving short- and long-term profitability of GSI Property portfolio, including coordination of quarterly exchange between Reserving, Pricing, Underwriting and Claims. Review and coordinate lessons learned analyses of BUs for improvement in UW performance.
• Implement quantitative analytics and pricing methodologies for Property segments which contribute to GSI entities making better underwriting decisions and are consistent with Munich Re's overall approach.
• Leading Primary insurance business unit Underwriting audits/reviews according to risk-based audit plan. In alignment with CU Munich and with the help of compliance and standards groups within the BUs, coordinate audit activities, share best practice, promote consistency.
• Ensuring that the guidance provided by CU Munich , with respect to Property lines of business, is well understood throughout GSI; participate in Expert Groups, relevant CU boards, Topic Networks and Consulting Groups, and provide cross-divisional support, advice and assistance for Underwriting activities. Work with BU Underwriting teams to ensure consistent understanding and application of MR guidance.
• Occasional coordination with Reinsurance colleagues in the various Reinsurance Divisions, including support for Reinsurance underwriting initiatives as needed.
• Periodic assessment of Property accumulations across all GSI entities to inform GSI Underwriting Strategy and proactive portfolio management.
• Coordination of budget requests to ensure the highest return opportunities are priority. In instances where model variation introduces ambiguity, reconcile differences and agreements.

Skills

Underwriting expertise

Communication skills

Leadership

Analytical thinking

Travel willingness

Education

BS/BA degree

CPCU designation preferred

ARe designation preferred

Job description

Munich Re America Services seeks a seasoned Head of GSI Property Underwriting to lead a portfolio view of Property risks within the Global Specialty Insurance portfolio. This senior role requires directing underwriting strategy, guidelines, and risk controls across U.S.

underwriting units to support profitability and consistency. You will drive industry response, leverage quantitative analytics, and lead training initiatives while coordinating with BU underwriters, Claims, Reserving, and Pricing