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Beazley · 2 days ago

Underwriter - US Executive Risk

Philadelphia, PA

Full-time

Hybrid

Mid, Senior Level

$75K/yr - $120K/yr

3+ years exp

Beazley is a specialist insurance company with over 30 years of experience helping people, communities, and businesses manage risk. The role involves underwriting a US Executive Risk account within Specialty Risks, providing technical expertise, and maintaining the market reputation of the Beazley brand.

FinanceFinancial ServicesInsuranceInsurTech

Comp. & Benefits

Responsibilities

Develop and underwrite a profitable portfolio of US Executive Risk business as part of Specialty Risks

Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing

Manage innovation and development of non-insurance service offerings to insureds and others

Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level

Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable

Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the US Executive Risk

Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Risks

Comply with Beazley's underwriting control standards for business written through Lloyd's, Beazley’s subsidiaries or internal MGAs

Develop a good working relationship with the claims managers on this class of business

Advise, assist and service clients on insurance and risk matters to ensure clients’ satisfaction

Foster positive relationships with clients to get a mutual understanding of both their and Beazley’s needs

Maintenance of good business relationships with brokers

Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients

Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley

Develop best practice and disseminate business and class knowledge within US Executive Risk and Specialty Risks

Work with peers within the US Executive Risk and Specialty Risks to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities

Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group

Production of presentations and marketing literature as required

Production of business plans/research documents for the US Executive Risk account as required

Comply with Beazley procedures, policies and regulations including the code of conduct, which incorporates the PRA and FCA Conduct

Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system

Display business ethics that uphold the interests of all our customers

Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs

Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas

Qualification

Underwriting experienceUS Executive Risk underwritingAnalytical skillsMicrosoft ExcelClient service experienceCommercial knowledgeFinancial knowledgeCommunication skillsTime managementTeamworkMotivational skillsAttention to detail

Required

3-5 years of direct underwriting experience in Crime or Crime & Fidelity products, with this line representing a significant portion of the candidate's portfolio

Proven experience in underwriting US Executive Risk accounts, including risk assessment, pricing, and portfolio management within a regulated insurance environment

Strong analytical and financial skills, advanced knowledge of underwriting policy and practice, and proficiency in Microsoft Excel (pivot tables, VLOOKUP, complex formulas) with excellent communication skills for broker and client negotiations

Proficient underwriting skills

Accurate and numerate

Strong analytical skills with attention to detail

Able to communicate effectively with others, both verbally and in writing

Ability to manage time, meet deadlines and prioritise

Motivational skills

General commercial and financial knowledge

Experience in insurance industry

Experience of US Executive Risk underwriting or broking

Thorough knowledge of underwriting policy, philosophy and practice

Advanced knowledge of underwriting processes and systems

Client service experience

Result focused, self-motivated, flexible and enthusiastic

Professional approach to interact successfully with managers/colleagues/external suppliers

Team worker as well as able to work on own initiative

Customer focused, with a strong ethic of service and fairness to the customer

Achievement drive

Analytical thinking

Strategic thinking

Service focus

Team working

Conceptual thinking

Forward thinking

Benefits

Attractive base compensation and discretionary performance related bonus

Competitively priced medical, dental and vision insurance

Company paid life, and short- and long-term disability insurance

401(k) plan with 5% company match and immediate vesting

22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs

Up to $700 reimbursement for home office setup

Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance

Up to 26 weeks of fully paid parental leave

Up to 2.5 days paid annually for volunteering at a charity of your choice

Flexible working policy, trusting our employees to do what works best for them and their teams