Corporate Underwriting Specialist - Medical Malpractice
Philadelphia , United States
Your jobThis position can be located in Atlanta, Philadelphia, Chicago, New York, or San Francisco.
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.
Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.
Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.
Future focused and always one step ahead
This Corporate Underwriting role will be responsible for significant contributions to the oversight, monitoring, and steering of healthcare (medical malpractice and general liability) lines of business in support of the Corporate Underwriting Office.
In this position you will:
- With direct supervision of more senior level team members, assist Corporate Underwriting leadership in evaluating new opportunities, building underwriting guidelines, defining appetite, and creating a rating framework across numerous healthcare liability lines
- Support the assurance of application of consistent guidelines/standards across MRSI business units with the aim to reduce friction in the underwriting process and ensure underwriting discipline across and within our suite of products
- Serve as a product and coverage influencer for a broad array of lines, including: senior living facilities, allied health facilities, and hospitals
- Support business plan execution while stressing bottom line profitability
- Triage referral structures, including letters of authority, and promptly respond to underwriting referrals to management
- Participate on underwriting audits, including follow-up actions.
- Support development of policy wording and ensure wording is fit for product purpose
- Actively seek out developing risk management and mitigation techniques through underwriting/product research and participation on industry panels
- Work closely with actuarial and underwriting leaders to implement and enforce pricing positions
- Participate in training of others (e.g. underwriters, client managers, and actuaries) regarding policy and coverage issues, industry trends, and other technical underwriting topics
- Assisting in Portfolio management
- Assisting in audits
Your profileSuccessful candidates will be possess the following skills/capabilities:
- Significant depth of underwriting expertise developed over 5+ years of insurance or reinsurance experience
- Portfolio management experience
- In-depth knowledge of professional and management liability lines of business, including: policy wording and structure, legal and regulatory issues, and underwriting process
- Standard and non-standard business experience preferred
- Desire to contribute to innovative product development and experience in development of new products
- Legal education and/or advanced insurance certification highly preferred
- Proficiency in Microsoft Office suite; Excel skills required and Power BI preferred
- Strong communication skills and an eagerness to work with others in order to find solutions
- Time management and organizational skills are critical
- Willingness to travel 10%-15%
The base salary range anticipated for this position is $89,600-131,300, plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).
The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC and San Francisco. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.
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.