header-placeholder.jpg

Facultative Certificate Casualty Underwriter

 

Location
Chicago , United States

 

Your job

We will consider candidates in Chicago, IL, New York City 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.

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 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 an 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.

Your role:

Underwriting:
  1. Demonstrate ability to underwrite and price moderate to highly complex facultative certificate reinsurance business in accordance with corporate, divisional and department guidelines and philosophy.
  2. Underwrite new and renewal 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.
  3. Provide responsive service on all broker and direct client requests.
  4. Possess comprehensive knowledge of guidelines structure and exercise sound underwriting judgement.
  5. Adhere to underwriting procedures and delegated authority.
  6. Demonstrate proficiency in the use of pricing models, tools and other risk evaluation models including the ongoing development of one’s technical product and underwriting expertise.
  7. Monitor profitability of assigned clients providing direct report quarterly reviews.
  8. Assist in peer reviews of team members accounts, technical underwriting training of Underwriting Assistants, Other Fac Cert underwriters, Risk Analysts and visiting MRM underwriters.
Marketing:
  1. Strong knowledge of MRAm Products and Services.
  2. Develop opportunities inside and outside area of expertise.
  3. Maintain strong market presence by developing direct and broker strategies promoting F&C capabilities and market knowledge externally.
  4. Develop new sources of business will be a significant part of position.
  5. Provide significant input for facultative department strategy and implementation.
  6. Proven ability to interact effectively with clients, brokers and colleagues.

Business Planning:
  1. Participate in and provide significant input for the business plan development.
  2. Execute specific aspects of business plan as assigned.
  3. Self-Development Planning to achieve business and developmental objectives.

Your profile

Successful candidates will possess the following skills/capabilities:
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.

About us

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.