Underwriting Specialist - Property

Allianz Commercial; California (MO); Hybrid; USD 124,000 - 187,000; Full time

Benefits offered by this job

Hybrid working model

Bonus scheme

Pension

Private healthcare

Job summary

Allianz Commercial in California seeks an Underwriting Specialist to drive profitable growth, underwrite new and renewal business, and manage large client relationships. The role influences pricing strategies, terms and conditions, and capacity management within a global framework.

You will mentor junior underwriters, contribute to regional strategy, and collaborate with producers and risk teams. Hybrid work options and a competitive compensation package are offered.

Qualifications

• Minimum 5-7 years of significant experience underwriting profitable business in the Line of Business.
• Specialized understanding of regional/local LoB insurance markets and competitor landscape.
• Good understanding of legal and regulatory framework.

Responsibilities

• Underwrite new and renewal accounts to meet top and bottom line targets.
• Negotiate price and terms and conditions with producers.
• Proactively manage capacity.
• Underwrite Natural Catastrophe Accumulation and international programs where applicable.
• Support development of regional underwriting strategy and coach junior staff.

Job description

AI technology may be used to assess applications for keywords and essential qualifications. However, all AI-filtered candidate information will be reviewed by an Allianz Commercial team member, as our AI processes are subject to human oversight.

We are looking for an Underwriting Specialist in California for our Property line of business.

Your Team

Allianz Commercial (AzC) specializes in corporate property insurance for the most complex and challenging risk exposures in more than 200 countries and territories. With a focus on larger international risk portfolios, we offer tailor-made 'All Risks' property damage and business interruption insurance through our global network.

Our experience speaks for itself,insuringthe majority ofGlobal Fortune 500 companies, managing over 1000 global property insurance programs, and fielding an underwriting team averaging over 20 years' experience, backed up a worldwide team of risk consultants and claims specialists.

When it comes to underwriting insurance products for well-known famous sports venues, sports/entertainment facilities, major airlines, retail/wholesale companies,banksand manufacturers, we do it all!

The Impact You Will Have (job purpose- example below)

As an Underwriting Specialist, you will play a critical role in driving profitable growth for Allianz Commercial. You will underwrite new and renewal business to meet Line of Business targets regionally-including global elements-while taking ownership of large accounts and client relationships. Yourexpertisewill directly influence pricing strategies, terms andconditionsnegotiations, and capacity management. You will also serve as a mentor and referral point for underwriters, helping to develop the next generation of talent while contributing to the execution of our regional underwriting strategy.

Some of your specific responsibilities could include

Underwriting Profitable Business

• Underwrite new and renewal accounts to meet top andbottom linetargets
• Negotiate price and terms and conditions with producers
• Proactively manage capacity
• Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modeling and interpretation of scenarios (for relevantLoBs)
• Underwrite International Insurance Programs (for relevantLoBs)

Underwriting Approach and Compliance

• Underwrite in line withLoBgovernance framework (e.g., Underwriting Authorities, global MSU, Underwriting Guidelines,Rulesand Principles)
• Ensure contract certainty is achieved on all accounts at time ofinception
• Ensureutilizationof global pricing tools
• Ensure placing and binding of FAC Reinsurance prior to policyinception

Policy Documentation and Administration

• Ensureaccuratepolicy documentation is issued to producers or that producers have issued documentation where applicable
• Establish andmaintainfiles (electronic or paper) for each risk and transaction handled
• Proactively support completion of policy administration and credit control processes

Underwriting Strategy & Leadership

• Contribute to development and execution of regional Underwriting strategy forLoB
• Train, develop, and coach less experienced staff, including Underwriters
• Manage complex referrals from underwriters and spokes; re-underwrite complex business as appropriate
• Delegate work as appropriate

Market Management

• Proactively support acquisition of new business and retention of existing business, including client and producer negotiations
• Proactively liaise with MMC on market management initiatives

Relationship Management

• Positively represent AGCS externally to the market
• Drive involvement of functional areas in the Underwriting process (e.g., MMC, ARC, Claims, Operations)
• Develop andmaintainstrong relationships with key producers, clients, and relevant stakeholders (e.g., risk managers)

WhatYou'llBring to the Role

Experience & Knowledge

• Minimum 5-7 years ofsignificant experienceunderwriting profitable business in the Line of Business, with specialized expert understanding of sub-LoBproducts and portfolio
• Recognized relationships with brokers at peer group level and wellestablishedwithin the market
• Specialized understanding of regional/localLoBinsurance markets and competitor landscape, including global elements
• Good understanding of legal and regulatory framework
• Experience working in a complex, global matrix organization

Technical Skills

• Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant toLoB(Advanced)
• Pricing and Market Management: Ability to analyze current performance against benchmarks, applying knowledge of how the marketoperates, business needs, and customer needs
• Contract Drafting and Interpretation: Ability to design, develop, and implement consistent, robust wordings (Advanced)
• Policy Management: Robust understanding of the policy administration life cycle, including information collection, policy issuance, premium bookings, credit control, and cancellation (Advanced)

General Skills

• Analytical Skills: Ability to analyzehighly complexdata from multiple sources in detail;identifyand resolve issues proactively (Advanced)
• Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally; ability to deliver audience-winning presentations (Advanced)
• IT Skills:Proficiencyin general office applications (PowerPoint, Excel, Word)
• Experience in applying artificial intelligence (AI) and machine learning (ML) to improve business processes and decision-making is highly beneficial.
• Influencing Skills: Ability to persuade and motivate others to act without executive authority (Advanced)

Education & Certifications

• Bachelor's Degree, preferably in Economics, Finance, Insurance Management, or Business Administration
• Completion of a professional insurance qualification (e.g., CII) preferred

Key Competencies

• Results Orientation
• Entrepreneurial Orientation
• Market Insight
• Customer Focus
• Fostering Relationships

The annualized base pay range for this role is $123,534 - $186,707forCalifornia. The annual base salary rangerepresentsa nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role, the skills, education, training,credentialsand experience of the candidate. The base pay is just onecomponentof theAzCtotal compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

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.

104102 | 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.

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.