Senior Yacht Underwriter

Private Client Select; Edison (NJ); Hybrid; USD 140,000 - 210,000; Full time

Job summary

Private Client Select is seeking a Senior Yacht Underwriter to develop a profitable yacht book, underwriting complex accounts, and negotiating terms using pricing tools and underwriting judgment. You will service new business and renewals with support from operations, reporting to the Head of Yacht.

You will work within a yacht-focused team and partner with actuarial, finance, and field teams to ensure technical pricing and coverage align with filed plans, while mentoring junior staff and

Qualifications

• Underwriting yacht/marine accounts with complex risk profiles.
• Ability to develop technical price ranges and coverage terms.
• Ability to interpret actuarial/pricing guidelines and apply them to quotes.
• Strong collaboration with field, actuarial, and finance teams.
• Proven ability to communicate reasoning behind numbers and decisions.

Responsibilities

• Underwrite the largest and most complex yacht accounts and assess risks.
• Apply pricing model results to create technical price ranges and alternatives.
• Ensure pricing and terms adhere to filed rating plans.
• Collaborate with actuarial, finance, and business units for model applications.
• Mentor junior underwriters and provide guidance as needed.

Skills

Underwriting experience

Yacht underwriting

Analytical skills

Pricing guidance

Communication of reasoning

Team collaboration

Attention to detail

US work authorization

Education

5+ years underwriting experience

Tools

Pricing tools

Job description

PCS is one of the largest high net worth managing general underwriters in the market today. With a sole focus on families with $5m or more in assets, PCS provides complex insurance policies for individuals with complex needs. Private Client Select offers property and casualty personal insurance solutions and risk management services that meet the unique and complex needs of High-Net-Worth clients. We understand their passions and are committed to preserving the life that they have built.

PCS employs approximately five hundred staff members. The company has offices in New York, NY; Edison, NJ; St. Petersburg, FL; Schaumburg, IL; and San Diego, CA. PCS has a geographically diverse workforce and supports hybrid and remote business-based flexibility.

About the Position

As a Senior Yacht Underwriter, you will be focused on developing a profitable book of Yacht business. You will be underwriting accounts and using pricing tools, guidelines and underwriting judgment to develop a technical price range, suggested coverage terms/conditions and alternative structure options. Creating solutions, negotiating, and sales are required skills for the job as well as technical acumen on the Yacht marketplace. Servicing accounts with support from operations, working on new business and renewals will be part of your day-to-day activity.

Reporting Relationships and Organizational Scope

We are seeking a Senior Yacht Underwriter who will be part of a yacht specific team responsible for underwriting and pricing new and renewal business, but also incorporate themselves into the larger underwriting organization working with field on total accounts across multiple lines. This position will report directly to the Head of Yacht.

Key Responsibilities:

• Analyze submitted account information for the largest most complex accounts, evaluate risks and controls, and ensure compatibility with risk appetite.
• Apply underwriting judgment to pricing model results to generate a technical price range, suggested coverage terms/conditions and alternative structure options for Market-Facing Underwriters to utilize in quoting and negotiating decisions on new business and renewals.
• Ensure technical price ranges, alternative structure options and suggested coverage terms/conditions adhere to filed rating plans.
• Work with actuarial units, finance teams, and Business units across the organization to understand actuarial model applications and stakeholder requirements.
• Acting as a role model for more junior underwriters and making yourself available to offer advice and guidance.

Required Skills, Knowledge, and Education

• 5+ years of underwriting experience, preferably yacht and/or marine
• Strong analytical skills to understand numeric data to be able to interpret and apply actuarial pricing guidelines to specific situations. High degree of comfort with analytical tools and technology
• Ability to work in dynamic, rapidly changing environment, adapting to changing requirements and collaborating with a wide range of colleagues to quickly deliver solutions.
• Ability to facilitate cross function collaboration, especially regarding technical aspects
• Extremely detail-oriented with demonstrated ability to self-direct, prioritize work, and meet deadlines.
• Takes initiative on projects and assignments, seeks alternate solutions.
• Ability to communicate reasoning behind generated numbers.
• Highly motivated and results-oriented
• Applicants must be legally authorized to work in the United States and must not require employment-based visa sponsorship now or in the future.

Equal Employment Opportunity Policy

PCS values and is fully committed to diversity and inclusion. It is the policy of PCS not to discriminate against any applicant for employment, or any employee because of age, color, sex, disability, nation of origin, race, religion, sexual orientation, gender identity, or veteran status.