Job description

Requirements

  • Entry level
  • No Education
  • Salary to negotiate
  • Chicago

Description

Job Purpose/Role

The Purpose of the Property Executive Underwriter role is to:


- Underwrite profitable new and renewal business to meet LoB targets regionally including global elements
- Ownership of large accounts / clients including negotiation of participation, pricing and terms and conditions
- Training and development of team and referral point for underwriters
- Develop and maintain strong relationships with brokers and clients
- Specialized technical expertise / lead for at least one sub-LoB
- Work effectively within the global matrix


Key Responsibilities


- Underwrite Profitable business
- Underwrite new and renewal accounts to meet top and bottom line targets
- 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 relevant LoBs)
- Underwrite International Insurance Programs (for relevant LoBs)
- Underwriting Approach and Compliance
- Underwrite in line with LoB governance framework
- e.g.
Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles
- Ensure contract certainty is achieved on all accounts at time of inception
- Ensure utilization of global pricing tools
- Ensure placing and binding of FAC Reinsurance prior to policy inception
- Policy Documentation and Administration
- Ensure accurate policy documentation issued to producers (where AGCS responsibility to do so) or producers has issued documentation (where producer responsibility)
- File maintenance
- ensure file is established (whether electronic or paper) and maintained 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 for LoB regionally
- Training, developing and coaching of less experienced staff (including Underwriters)
- Manage complex referrals from underwriters and spokes and 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 where necessary)
- Proactively liaise with MMC on market management initiatives
- Relationship Management
- Positively represent AGCS externally to the market
- Proactively drive involvement of functional areas in Underwriting process, including e.g.
MMC, ARC, Claims, Operations
- Develop and maintain strong relationships with key producers and clients and other relevant stakeholders (e.g.
risk managers)


Key Requirements/Skills/Experience


- Bachelor Degree: Preferably degree in Economics, Finance, Insurance Mgmt, or Business Administration
- Trade Qualification: Completion of professional insurance qualification (e.g.
CII)
- Minimum 11+ years: Significant experience in Underwriting profitable business in LoB.
Specialized expert understanding of sub-LoB products and portfolio
- Minimum 11+ years: Recognized relationships with brokers at peer group level and well established within market
- Minimum 11+ years: Specialized understanding of regional / local LoB insurance markets and competitor landscape, including global elements
- Minimum 11+ years: Good understanding of legal and regulatory framework
- 7 + years: Experience working in complex, global matrix organization
- Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LOB
- Pricing and Market Management: Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs
- Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings
- Policy Management: Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation
- Advanced: Analytical Skills: Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire
- Advanced: Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally
- Ability to "sell" an improvised or prepared audience winning story
- IT skills (Office applications): Use general office application tools e.g.
Power Point, Excel, Word
- Advanced: Influencing skills: Ability to persuade and motivate others to act, without executive authority

  • business administration
  • coaching
  • excel
  • relationship
  • word