Allianz Commercial · 2 hours ago
Underwriting Specialist - Inland Marine
Chicago, IL
Full-time
Hybrid
Mid, Senior Level
$94K/yr - $146K/yr
5+ years expAllianz Commercial is one of the largest marine insurers in the world, leading in inland marine insurance and related property coverage. The Underwriting Specialist will underwrite profitable new and renewal business, manage large accounts, and develop strong relationships with brokers and clients while providing specialized technical expertise.
Insurance
No H1B
Responsibilities
Underwrite new and renewal accounts to meet top and bottom-line targets
Negotiate price and terms and conditions with producers
Proactively manage capacity
Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios (for relevant LOBs)
Underwrite International Insurance Programs (for relevant LOBs)
Underwrite in line with LoB governance framework - e.g. Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles
Ensure contract certainty is achieved on all accounts at time of inception
Ensure utilization of global pricing tools
Ensure placing and binding of FAC Reinsurance prior to policy inception
Ensure accurate policy documentation issued to producers (where AzC responsibility to do so) or producers has issued documentation (where producer responsibility)
File maintenance – ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled
Proactively support completion of policy administration and credit control processes
Contribute to development and execution of regional Underwriting strategy for LoB regionally
Training, developing and coaching of less experienced staff (including Underwriters)
Manage complex referrals from underwriters and spokes and re-underwrite complex business as appropriate
Delegate work as appropriate
Proactively support acquisition of new business and retention of existing business (including client and producer negotiations where necessary)
Proactively liaise with MMC on market management initiatives
Positively represent AzC externally to the market
Proactively drive involvement of functional areas in Underwriting process, including e.g. MMC, ARC, Claims, Operations
Develop and maintain strong relationships with key producers and clients and other relevant stakeholders (e.g. risk managers)
Qualification
Required
A minimum 5 years' significant experience in underwriting profitable inland marine business
Specialized expert understanding of sub-LoB products and portfolio
Specialized understanding of regional/local LoB insurance markets and competitor landscape, including global elements
Recognized relationships with brokers at peer group level and well established within market
Ideal candidate will have worked as an underwriter or account executive and be well versed in multiple inland marine products such as construction, transportation, miscellaneous coverages, and property (i.e., builder's risk, contractor's equipment, motortruck cargo, physical damage, mono line property for small to medium risks, and scheduled property floaters)
Good understanding of legal and regulatory framework
Experience working in complex, global matrix organization
Ability to assess risk inherent exposures and natural hazards relevant to LoB
Analyze current performance against various benchmarks applying how the market operates and functions, the business needs and customer needs
Design, develop and implement consistent, robust wordings
Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation
Ability to analyze highly complex data from multiple sources, in detail; identify and resolve issues before they transpire
Ability to express ideas and messages clearly, both written and verbally
Ability to “sell” an improvised or prepared audience winning story
Ability to persuade and motivate others to act, without executive authority
Use of general office application tools (i.e. PowerPoint, Excel, Word)
External applicants must be legally authorized to work in the United States without the need for current or future employment-based sponsorship
Preferred
Preferably a bachelor's degree in Risk Management, Insurance, Business Administration, Finance or Economics
Completion of a professional insurance qualification
The ability to utilize AI tools to support day-to-day tasks, improve efficiency, and contribute to data-driven decision-making
Benefits
Annual performance-based cash incentive awards
Generous bonus scheme
Pension
Private healthcare
Generous parental leave benefits
Company
Allianz Commercial
Allianz Commercial is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Jennifer Partyka
Head of Cost Controlling CxO ex COO
Christina Hager
Sr. HR Business Partner
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