Facultative Certificate/Program Underwriter - Casualty
Chicago , United States
Your jobWe will consider candidates in: New York, NY, Chicago, IL or Princeton, NJ.
We’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.
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 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.
As Underwriter, you will underwrite and price a portfolio of reinsurance business in accordance with Munich Re America guidelines, strategy and profitability standards. You will be responsible for developing recommended individual risk pricing and terms within appropriate underwriting authority. This includes completing risk analysis and assessment, coverage evaluation and pricing as well as participating in client negotiations in order to maintain and develop a profitable portfolio of reinsurance business.
- Demonstrate ability to underwrite and price moderate to highly complex facultative (certificate and program) reinsurance business in accordance with corporate, divisional and department guidelines and philosophy.
- Underwrite new and renewal business, including all tasks associated with risk and coverage analysis and pricing, and provide recommendations for proposed terms within delegated underwriting authority. Refer all business outside of delegated underwriting authority to appropriate referral underwriter.
- Provide responsive service on all broker and direct client requests.
- Possess comprehensive knowledge of guidelines structure and exercise sound underwriting judgement.
- Adhere to underwriting procedures and delegated authority.
- Demonstrate proficiency in the use of pricing models, tools and other risk evaluation models.
- Monitor profitability of assigned clients including audits for program business.
- Assist in technical underwriting training of Underwriting Assistants, Other Fac Cert underwriters, Risk Analysts and visiting MRM underwriters.
- Strong knowledge of MRAm Products and Services
- Develop opportunities inside and outside area of expertise.
- Develop and maintain client relationships.
- Developing new sources of business will be a significant part of position.
- Provide significant input for facultative department strategy and implementation.
- Participate in and provide significant input for the business plan development.
- Execute specific aspects of business plan as assigned.
- Self Development Planning to achieve business and developmental objectives.
Your profileSuccessful candidates will possess the following skills/capabilities:
- 7+ years of experience in (re)insurance, broker community and/ or corporate risk market
- 5 + years of underwriting experience preferred
- Bachelor’s Degree in Business, Insurance or Risk Management preferred.
- CPCU, ARe designations preferred;
- Knowledge of internal processing procedures and systems.
- Demonstrated knowledge of General Liability, Automobile Liability, Professional Liability, Workers Compensation, Umbrella/Excess Liability coverage and risk analysis
- Knowledge of common facultative reinsurance structures and terms
- Strong interpersonal and social skills;
- In-depth knowledge of the US insurance and reinsurance markets supported by attending industry workshops/conferences and active involvement in professional societies.
- Excellent oral and written communication skills. Ability to explain complex transaction structures to both technical and non-technical audiences
- Effective time management skills
- Excellent computer skills
- Ability to develop and execute plans and to provide strategic direction to the development and achievement of unit goals;
- Willingness to travel for audits and client and broker visits (approx. 20% of time)
At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company - that's among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.
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 you stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.