Junior Underwriter - Cargo

Allianz Commercial; New York (NY); Hybrid; USD 65,000 - 75,000; Full time

Benefits offered by this job

Hybrid work model

Career development opportunities

Job summary

Allianz Commercial in New York City is seeking a Junior Underwriter to support our Cargo line of business. The role involves assisting in underwriting new and renewal accounts, preparing renewal data, and supporting policy administration.

You will collaborate with cross-functional teams to ensure accurate documentation and timely decisions in a hybrid NYC office. The ideal candidate has 1–3 years of basic underwriting exposure, a willingness to learn, and a grounding in risk assessment and

Qualifications

• 1–3 years of basic underwriting exposure or related experience.
• Familiarity with cargo insurance concepts and renewal processes.
• Willingness to learn underwriting tools and policies.

Responsibilities

• Underwrite new and renewal accounts within authority and contribute to growth.
• Prepare renewal data and support policy administration activities.
• Maintain policy files and assist in document production (policies/endorsements).
• Coordinate with operations, claims and brokers to ensure timely actions.
• Assist in compliance with underwriting guidelines and contract certainty.

Skills

Underwriting basics

Risk assessment

Broker relationships

Data entry

Policy administration

Education

Bachelor's degree in Risk Management or related

Tools

Policy administration software

IT systems/databases

Job description

We are looking for a Junior Underwriter to support our Cargo line of business. If you have experience and/or knowledge of underwriting international transit, stock through-put, project cargo (including delay in start-up) and tailored coverages, this position is for you. This position will work a hybrid scheduled based in the New York City office.

Your Team

Cargo insurance for large businesses is a type of insurance that protects businesses from financial losses resulting from the damage, loss, or theft of their cargo while in transit. This type of insurance is essential for large businesses that ship large quantities of goods, as it can help to offset the costs of replacing or repairing damaged or lost cargo.

With one of the largest, most experienced networks of cargo insurance specialists, claims experts and risk consultants in the business, Allianz Commercial delivers local solutions for marine cargo risks in more than 200 countries and territories.

The Impact You Will Have

Reporting to the Underwriting Manager Northeast Cargo, this position prepares underwriting process within own area of responsibility and expertise, and liaises with other functions to ensure timely/accurate policy administration. Provides an effective and efficient administration and support to underwriting, including preparation of renewal data to facilitate renewal underwriting, data entry and updating of data in various bespoke IT systems / databases; assisting in bespoke document production (policies and endorsements).

Some of your specific responsibilities could include

• Underwriting of new and renewal accounts to meet top and bottom line targets within predefined underwriting authority. Participates in the acquisition of new business and retention of existing business (including client and broker negotiations where necessary) in line with Underwriting Strategy. Proactively prepare relevant underwriting information including client / market research and claims data. Assist in evaluation of Natural Catastrophe Accumulation (for relevant LoBs). Assist in pricing of risks, using global tools as appropriate.
• Preparation of data for renewal - reviewing information from internal systems such as premium payment status, claims movements, to provide underwriters with an on overview of the AzC history of each client. Ensure Underwriting compliance in line with LoB governance framework - e.g. Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles. Assist in ensuring contract certainty is achieved on all accounts at time of inception. Assist in ensuring binding of FAC Reinsurance prior to policy inception.
• Proactively establish and maintain policy file (whether electronic or paper) for each risk and transaction handled. Ensure accurate policy documentation issued to broker (where AzC responsibility to do so) or broker has issued documentation (where broker responsibility). Support administration of International Insurance Programs (for relevant LoBs).
• Manages timely and accurate booking of policy premiums and credit control / collection processes. Proactively work with other functions (e.g. operations, credit control) to resolve outstanding accounts queries. Accurately and efficiently populate IT system(s) with new and renewed business. Invoice customers and produce all relevant documentation, e.g. policies, certificates, endorsements to broker (or client), co-insurers, captives and re-insurers. Compiling of standard and non-standard policy wordings. Regular reconciliation and discussion of content with UW and broker/customer.
• 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 brokers and clients and other relevant stakeholders (e.g. risk managers).
• Proactively develop relationships with internal functional areas involved in Underwriting process, including e.g. MMC, ARC, Claims, Operations. Develop and maintain relationships with brokers at peer level. Continue to develop knowledge of policy forms and underwriting proficiency

What You’ll Bring to the Role

• A minimum 1 to 3 years’ basic understanding of Allianz Commercial products and portfolio. Basic understanding of regional / local LoB insurance markets and competitor landscape. Basic understanding of legal and regulatory framework.
• Evidence of relationship building with brokers at peer group level. Experience working in complex, global matrix organization.
• Preferably a bachelor’s degree in Risk Management, Insurance, Business Administration, Finance, Economics, Law, or other appropriate discipline. Progress towards or completion of a professional insurance qualification.
• Ability to assess risk inherent exposures and natural hazards relevant to this 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.
• Clearly and effectively express ideas and messages via presentations/speech or in writing. Ability to persuade and motivate others to act without direct authority.
• Ability to effectively absorb information from various sources, then analyze, study or examine data in detail and draw appropriate conclusions.
• A basic understanding of artificial intelligence (AI) and its potential applications in business is essential.

External applicants must be legally authorized to work in the United States without the need for current or future employment-based sponsorship. We are unable to sponsor or take over sponsorship of employment visas at this time, nor can we guarantee future sponsorship.

The annualized base pay range for this role is $65,000 to $75,000. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by several factors, including the scope, complexity and location of the role, the skills, education, training, credentials, and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

107504 | Underwriting | Professional | Allianz Commercial | Full-Time | Permanent

What’s in it for you?

Let’s Care About Everything That Makes You, You

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let’s care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

Let’s care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

We therefore welcome applications regardless of race, ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

People With Disabilities

We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email [e-mail]

Join us. Let's care for tomorrow.