Head of Property Underwriting

Munich Re Group; Chicago (IL); Remoto; USD 246.000 - 400.000; Tempo pieno

Vantaggi offerti da questo lavoro

Health insurance

Life and disability insurance

401k with company match

Paid holidays and PTO

Wellness program

Tuition assistance

Descrizione del lavoro

Munich Re Group seeks a strategic Head of GSI Property Underwriting to lead portfolio risk and underwriting standards across Global Specialty Insurance. You will coordinate with regional BU underwriting teams and drive training, analytics and performance metrics.

Open to candidates in multiple locations including New York, Chicago, or remote work; base salary reflects market variations with strong bonus potential and comprehensive benefits.

Competenze

• In-depth knowledge of Insurance Underwriting practices and procedures, skill in analyzing qualitative and quantitative data and decision making capability.
• Minimum of 10 years of Property Underwriting of primary business
• Experience underwriting MGA/Program business.
• Experience in US admitted and E&S markets, personal as well as commercial lines
• BS/ BA, advanced degree a plus.
• CPCU, ARe designations preferred.
• Ability to provide clear underwriting intent as it relates to the development of new products
• Ability to explain complex insurance and reinsurance concepts to both technical and non-technical audiences
• Strong communications, interpersonal, and influencing skills
• Excellent presentation skills
• Willingness to travel (up to 35% - 45%).

Mansioni

• 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; coordinate consistent Underwriting response.
• Implementation of the Global Property UW strategies and Global UW guidelines.
• Expert handling of referrals from business units seeking approval of risks outside their delegated authority.
• Thought leadership on Property topics and leadership of Property Underwriting Roundtable.
• Ensuring measurable standards for UW excellence, KPIs and risk controls.
• Coordinate budget requests and reconcile variations in models when needed.

Conoscenze

Property underwriting

Underwriting leadership

Communication

Travel willingness

Formazione

BS/BA

CPCU/ARe preferred

Descrizione del lavoro

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities. As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

The Opportunity

Future focused and always one step ahead!

As a key member of the Global Specialty Insurance (GSI) Corporate Underwriting team, the Head of GSI Property Underwriting assumes a strategic role in providing a portfolio level view of the component Property risks that make up the global primary insurance portfolio. It is a second line of defense ensuring the quality of underwriting throughout GSI and execution of GSI Underwriting strategies. The focus will be on consistent views of risk across the local underwriting teams in the Entrepreneurial Business Units to support long-term profitability of the Property portfolio.

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.

Qualifications

• In-depth knowledge of Insurance Underwriting practices and procedures, skill in analyzing qualitative and quantitative data and decision making capability.
• Minimum of 10 years of Property Underwriting of primary business
• Experience underwriting MGA/Program business.
• Experience in US admitted and E&S markets, personal as well as commercial lines
• BS/ BA, advanced degree a plus.
• CPCU, ARe designations preferred.
• Ability to provide clear underwriting intent as it relates to the development of new products
• Ability to explain complex insurance and reinsurance concepts to both technical and non-technical audiences
• Strong communications, interpersonal, and influencing skills
• Excellent presentation skills
• Willingness to travel (up to 35% - 45%).

The Company is open to considering candidates in numerous locations, including New York (NY), Philadelphia (PA), Princeton (NJ), Hartford (CT), Chicago (IL), Atlanta (GA) and Remote. The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.

The base salary range anticipated for this position is $246,200 - $400,000 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate is adjusted to reflect the varying market conditions across different locations, with the higher end being more aligned with the New York City job market. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

• Two options for your health insurance plan (PPO or High Deductible).
• Prescription drug coverage (included in your health insurance plan).
• Vision and dental insurance plans.
• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
• Short and Long Term Disability coverage.
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

• A robust 401k plan with up to a 5% employer match
• A retirement savings plan that 100% company funded.
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
• Eligibility to receive a yearly bonus as a Munich Re employee.
• A variety of health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program that further enhances your charitable donation.
• Paid time off to volunteer in your community.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.