Property Underwriter

Compensation

: $106,355.00 - $201,950.00 /year *

Employment Type

: Full-Time

Industry

: Financial Services - Insurance



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Job DescriptionWe're adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. We will consider a range of experience for this role and the offer will be commensurate with that.The CompanyAs a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.Munich Re Facultative and Corporate (MR F&C) was recently created to bundle Munich Re's facultative and corporate business into one global unit. We believe that by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.The OpportunityFuture focused and always one step aheadThe successful candidate in this position will be responsible for underwriting industrial property programs (focusing on commercial property for large, multi-national industrial clients) in the US. They will develop and determine the commensurate terms and conditions applicable and to consider risk-sharing acceptances. In addition, this person will assist the Head of the Unit to oversee the North America Property portfolio to ensure profitability, assist Claims to validate, and then optimize claims payments and also provide expertise to both internal and external Munich Re Facultative & Corporate clients as well as contribute to its overall profitability.The level of this position will be commensurate with experience.In this position you will:Marketing* Establish and maintain sound contact with Property clients, keeping abreast of market and industry developments and client needs.* Promote the Property Group's capabilities and competencies externally .* Identify and analyze the needs of existing and potential clients.* Develop coverage concepts based on the results of this analysis. Conduct negotiationswith clients (risk managers, captives) and brokers.Underwriting* Ensuring profitability for the Property portfolio.* Accept Property Business through contacts with Brokers, Risk Purchasing Groups and Captives.* Implement the pricing and layering models of MR F&C.* Develop and support new products and filings to satisfy Client needs by using depth of underwriting background/experience for program development.* Enhance policy forms and rating tools while being innovative with respect to distribution channel choices.* Negotiate and conclude the offers, terms of contract with Brokers/Clients and, when necessary and feasible, submit counter proposals.Claims Settlement* Evaluate claim reports and where necessary assist claims to validate the basis of the claim settlement.Administration and Management* Capture required risk information, e.g. accumulation, risks, written, etc.Maintain records and monitor business development and renewals for Property business, for which this underwriter is predominantly responsible* Assist the Head of the Unit when required in fulfilling all managerial and administrative duties of the Property GroupQualificationsSuccessful candidates will possess the following skills/capabilities:* 5+ years prior underwriting experience preferred in direct insurance, broker community and/ or corporate risk market.* Bachelor's Degree in Business, Insurance or Risk Management preferred.* Knowledge of internal processing procedures and systems.* Ability to communicate effectively with clients, production sources, and department, division on the management top-level.* Ability to manage Client relationships, maintaining profitable relationships throughout market cycles.* Demonstrated negotiation skills, facilitating and managing the complexities and difficulties associated with sourcing business through third-party production sources.* Proficient in Microsoft Office suite, particularly Excel.* Excellent verbal, written, language and communication skills.* Ability to travel nationally and internationally.Employment TypeFull Time
Associated topics: underwriter * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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