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.
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.
Future focused and always one step ahead
The successful candidate in this position will apply highly specialized management, underwriting, and insurance knowledge to adequately access and manage Munich Re Facultative and Corporates North America Property insurance risks. 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 expert both internal and external guidance to MR F&C and clients and contribute to its overall profitability.
The level of this position will be commensurate with experience.
In this position you will: Marketing
Seminars and Media
- Establish and maintain sound contact with Property clients, keeping abreast of market and industry developments and client needs.
- Provide, in close consultation with MR F&C Client Groups, Property products and services to maximize business opportunities.
- Promote Property Groups capabilities and competencies externally.
- Participate in appropriate industry seminars/workshops as a speaker and/or trainer.
- Devise, organize and assist in successful delivery of MR F&Cs technical seminars.
Participation on Technical Market Committees
- Ensure appropriate representation on technical insurance market committees, so providing technical input as well as sourcing key market knowledge for the Property industry.
- Underwriter charged with ensuring profitability for the Property portfolio
- Underwriter charged with the responsibility for accepting Property shares for Property Business through contacts with Brokers and Captives.
- Perform the underwriting referral function for Property business, as specified and as required in the underwriting guidelines and mandates.
- Implement use of pricing and layering models of MR F&C and the MR rating systems and when necessary motivate modifications of it.
- Update and expand the Property Underwriting Guidelines as needed to stress additional requirements and developments. Ensure a consistent standard in the underwriting process of MR F&C Property business.
- Work within the referral audit process with overall adherence to risk selection and pricing techniques developed for the MR F&C Property Group.
- 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 as well as being innovative with respect to distribution channel choices.
- Be a support/referral resource to other distribution channels and Client Groups, providing Property insurance underwriting expertise and input.
- Negotiate and conclude the offers, terms of contract with Brokers/Clients and, when necessary and feasible, submit counter proposals.
- Analyze and evaluate our distribution of limits, attachment points and layers of Property business to maximize profitability potential.
Administration and Management
- Evaluate claim reports and where necessary assist claims to validate the basis of the claim settlement.
- Study, check and provide technical input and negotiate with clients specifically on claims of a large/specialized nature.
- Capture required risk information, e.g. accumulations, 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 Group.
Successful candidates will possess the following skills/capabilities:
- 10+ years prior underwriting experience preferred in direct insurance, broker community and/ or corporate risk market.
- Bachelors Degree in Business, Insurance or Risk Management preferred.
- Knowledge of internal processing procedures and systems.
- Strong ability to communicate effectively with clients, production sources, and department, division on the management level.
- Strong ability to manage Client relationships, maintaining profitable relationships throughout market cycles.
- Demonstrated superior 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.
Munich Re America
United States of America