Underwriting Specialist - Property

Allianz Commercial; Chicago (IL); On-site; USD 123,534 - 186,707; Full time

Job summary

Allianz Commercial is seeking an experienced Underwriting Specialist to join their team in Chicago. This role focuses on underwriting profitable new and renewal business in the Property line. You will manage major accounts and develop strategic relationships with key stakeholders.

Candidates should have 5–7 years of relevant experience and a strong understanding of property insurance markets. A degree in a related field is preferred. The role offers a competitive compensation package and opportunities for professional growth.

Qualifications

• Minimum 5–7 years of experience underwriting profitable business in Property.
• Specialized understanding of regional/local property insurance markets.
• Experience in a complex, global matrix organization.

Responsibilities

• Underwrite profitable new and renewal business to meet targets.
• Take ownership of large accounts/clients and negotiate terms.
• Contribute to the development of regional underwriting strategy.

Skills

Risk Assessment and Management

Excellent communication skills

Strong analytical skills

Proficiency in office applications

Influencing skills

Education

Degree in Economics, Finance, Insurance Management or Business Administration

Professional insurance qualification (e.g., CII)

Job description

Underwriting Specialist – West Zone, Property

We are looking for an Underwriting Specialist in the West Zone for our Property line of business. Allianz Commercial specializes in corporate property insurance for complex risk exposures worldwide.

Responsibilities

• Underwrite profitable new and renewal business to meet line of business targets regionally, including global elements
• Take ownership of large accounts/clients, including negotiation of participation, pricing, and terms and conditions
• Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modeling and interpretation of scenarios
• Underwrite International Insurance Programs and proactively manage capacity
• Underwrite in line with the LoB governance framework (Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles)
• Ensure contract certainty is achieved on all accounts at the time of inception and utilization of global pricing tools
• Ensure placing and binding of FAC Reinsurance prior to policy inception
• Ensure accurate policy documentation is issued and maintain files for each risk and transaction handled
• Contribute to the development and execution of regional underwriting strategy
• Train, develop, and coach less experienced staff, including underwriters
• Manage complex referrals and re‑underwrite complex business as appropriate
• Proactively support acquisition of new business and retention of existing business, including client and producer negotiations
• Develop and maintain strong relationships with key producers, clients, and other relevant stakeholders (e.g., risk managers)
• Positively represent Allianz Commercial externally to the market

Qualifications

• Minimum 5–7 years of significant experience underwriting profitable business in the Property line of business
• Specialized expert understanding of sub‑LoB products and portfolio
• Specialized understanding of regional/local property insurance 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 to the Property line of business
• Pricing and Market Management: Ability to analyze current performance against benchmarks, applying knowledge of how the market operates, business needs, and customer needs
• Contract Drafting and Interpretation: Ability to design, develop, and implement consistent, robust wordings
• Policy Management: Robust understanding of the policy administration life cycle, including information collection, policy issuance, premium bookings, credit control, and cancellation

General Skills

• Strong analytical skills with the ability to analyze highly complex data from multiple sources
• Excellent communication and presentation skills – ability to express ideas clearly, both written and verbally
• Influencing skills – ability to persuade and motivate others to act without executive authority
• Proficiency in 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

Education & Certifications

• Preferably a degree in Economics, Finance, Insurance Management, or Business Administration
• Completion of a professional insurance qualification (e.g., CII) preferred

Compensation

The annualized base pay range for this role is $123,534 to $186,707. The base salary may vary depending on scope, complexity, location, skills, education, training, credentials and experience. The base pay is one component of the total compensation package and includes annual performance‑based cash incentive awards.

Legal & Equal Opportunity

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.

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.

If you need any adjustments to be made during the application and selection process, please email [e-mail].