Fac Cert Professional Liability Underwriter
Were 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 Company
As 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 Res 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 Opportunity Future focused and always one step ahead
With this opportunity, you will underwrite, price, and support a portfolio of new and renewal professional liability facultative reinsurance business in accordance with Munich Re F&C guidelines, strategies, and profitability standards. Facultative Underwriters are responsible for risk analysis and assessment, coverage evaluation, pricing and marketing to assigned brokers and clients. This position will lead or assist in certificate and program negotiations in order to maintain and develop a profitable facultative professional liability reinsurance portfolio. Candidates should have experience underwriting several of the following classes Public and Private D&O; EPL; E&O (various classes); Healthcare; Architects & Engineers.
Major responsibilities include:
- Independently and profitably, underwrite and price various classes of professional liability facultative reinsurance business in accordance with corporate and divisional guidelines.
- Underwrite new and renewal certificate and potential program business in accordance with underwriting authority, including all tasks associated with information and data gathering, data manipulation, risk and coverage analysis, pricing, and deal negotiations.
- Develop and maintain strong market presence by developing client and broker strategies.
- Demonstrate advanced proficiency in the use of pricing models and other risk evaluation models.
- Review primary policy, contract and endorsement wording and ensure accuracy and conformance with guidelines.
- Independently negotiate reinsurance certificate and program contracts with clients and brokers.
- Lead underwriting audits of clients in order to provide credible evaluations of the quality of our clients professional liability books of business when necessary.
- Provide responsive service on all broker and client requests
- Conduct peer reviews of team members accounts.
- Demonstrate and maintain enhanced technical product and underwriting expertise with respect to primary insurance market and products.
- Work collaboratively with colleagues in other functional areas and across the group, share knowledge by participating in line of business monitoring and product development activities.
- Lead projects related to the development and implementation of underwriting strategy for professional lines.
Because were committed to finding the best talent, we are open to considering candidates with a range of experience. Compensation, level and accountabilities for the selected candidate will be commensurate with experience.
Successful candidates will possess the following skills/capabilities:
- 10+ years of primary insurance and / or reinsurance experience. At least 5 years of underwriting experience is required
- Understanding and application of pricing methods, models and concepts.
- High degree of intellectual curiosity combined with critical thinking skills, analytical problem solving abilities, and strong intuition to flexibly seek new ways to approach underwriting / pricing methodologies.
- Strong ability to interact effectively with clients, brokers, and colleagues.
- Excellent written and oral communication skills.
- Ability to think creatively, balance workloads, and provide significant contributions in the handling of multiple cross-divisional projects.
- Strong desire to grow and develop as a professional.
- Excellent computer skills (MS Office suite with an emphasis on Excel).
- Expected travel up to 25%.
- Team player with an ability to interact with varying personality types.
- Bachelors degree with background in Business, Actuarial Science, Mathematics, Economics or related field and / or equivalent work experience.
Munich Re America
United States of America