SDI Underwriting Lead: Build Subcontractor Insurance

Shepherd; New York (NY); On-site; USD 200,000 - 240,000; Full time

Benefits offered by this job

Premium Healthcare

Fertility Benefits & Family Building

Unlimited PTO

Daily Lunches, Dinners & Snacks

Offices: SF, NYC, Dallas–Fort Worth, 


Professional Development

Competitive 401(k) Plan

Dog-Friendly Office

Job summary

Shepherd seeks an experienced Subcontractor Default Insurance (SDI) Lead to shape underwriting strategy and prequalification controls for a new product. You will define the framework, build a high-performing team, and drive profitable growth with broker partnerships to scale the SDI book.

You will lead the underwriting execution, own premium and loss ratios, and collaborate with Product, Engineering, Data, Claims and Risk to deliver scalable solutions across markets.

Qualifications

• 8+ years of underwriting experience in Subcontractor Default Insurance.
• Deep knowledge of general contractors and construction managers.
• Proven SDI portfolio growth: originating new business, quoting, binding, and scaling premium.

Responsibilities

• Define and build Shepherd’s SDI strategy, including target contractor profiles, construction sectors, program sizes, limits and retentions, geographies, appetite, and growth and loss‑ratio targets.
• Help establish the underwriting guidelines, authority framework, referral rules, and rating approach for the product.
• Work with capacity partners to secure and structure the paper behind the program, and keep those partners informed on results.
• Partner with Product, Engineering, and Data to design the submission‑to‑bind workflow, contractor financial and prequalification analysis tools, and portfolio views.
• Underwrite new and renewal SDI programmes within your authority, including financial review, prequalification audits, and meetings with contractor leadership.
• Set up procedures for monitoring in‑force programmes for changes in contractor financial health, backlog, and subcontractor enrollment, and take action when the risk changes.
• Own premium, profit, loss‑ratio, and retention results for the book.
• Use your broker relationships to drive submission flow in the first year, and actively market Shepherd's SDI product at broker and client meetings, industry events, and through targeted business development.
• Hire, coach, and grow a team of SDI underwriters as the book scales.
• Track construction market trends, including labour, materials, and subcontractor financial stress, to keep Shepherd profitable and competitive.
• Work with Risk Engineering, Actuarial, Corporate Underwriting, Claims, Customer Experience and Finance so the business is underwritten, serviced, and reported well.

Skills

SDI underwriting

Leadership

Broker relationships

Underwriting strategy

Financial analysis

Prequalification knowledge

Policy wording

Team coaching

Executive presence

Education

Bachelor's degree or equivalent experience

Job description

Shepherd seeks an experienced Subcontractor Default Insurance (SDI) Lead to shape underwriting strategy and prequalification controls for a new product. You will define the framework, build a high-performing team, and drive profitable growth with broker partnerships to scale the SDI book.

You will lead the underwriting execution, own premium and loss ratios, and collaborate with Product, Engineering, Data, Claims and Risk to deliver scalable solutions across markets.