Munich Re Specialty - North America · 4 days ago
Underwriter Senior - Territory Lead
Princeton, NJ
Full-time
Hybrid
Senior Level, Lead/Staff
$186K/yr - $296K/yr
10+ years expMunich Re Specialty - North America is a leading specialty insurance provider dedicated to delivering exceptional underwriting and risk management expertise. The Underwriter Senior – Territory Lead will manage and grow a book of E&S Casualty business, drive profitable growth, and elevate underwriting excellence while leading a high-performing team.
Insurance
Responsibilities
Underwrite, market, quote, bind and retain a profitable book of excess and surplus lines business that meets profitability and growth targets. Operate within granted authority and allocated catastrophe budgets and make referrals to underwriting leadership as appropriate
Development and execution of production strategies and business plans to implement and maximize growth objectives and rate goals. Coordination with other Munich Re business units is expected and encouraged to offer the best holistic solutions to our clients
Measure and optimize portfolio progress by reviewing and analyzing underwriting data and monitoring industry best practices to identify opportunities for continuous improvement
Cultivate and maintain professional wholesale broker relationships
Represent the Munich Re brand and Munich Re Specialty Insurance at client events, seminars, meetings, etc
Assistance in day to day operations and projects as assigned which could have client, business group, divisional and corporate impact
Responsible for monitoring and updating the E&S Casualty unit on the market and changes within your specified territory
Create an inspiring team environment with an open communication culture
Set clear territory goals and strategy, following our territory guidance from Management and CU
Coordinate all broker marketing visits for the team, and represent the team in all BRL meetings
Review underwriting account Referrals and conduct two audits per quarter for the territory Underwriters
Delegate tasks and set deadlines appropriately based on each territory underwriter’s portfolio and broker assignments
Monitor territory rate retention, production, and loss ratio performance and report on metrics
Guide and motivate team members
Development of each underwriter within your territory by evaluating training needs and provide coaching, while working with management and CU to provide next steps
Listen to team members’ feedback and resolve any issues or conflicts with accounts or brokers; involve management when necessary
Recognize high performers as well as problem areas and discuss with management
Work with management during hiring of new territory underwriters
Train and mentor new territory underwriters; work with management during onboarding
Responsible for distributing information to team members
Hold Territory meetings to ensure the group is in alignment regarding pricing and coverages
Participate in the process of hiring new underwriters and in their training
Qualification
Required
Excellent underwriting, marketing and analytical skills that have been developed over 10+ years of insurance and/or reinsurance with production underwriting experience preferably at an E&S carrier for Casualty lines
Advanced working knowledge of Commercial P&C / E&S products and insurance concepts, UW processes and procedures, laws and regulations, terminology, concepts and principles related to strategic planning, and other relevant industry trends
Working knowledge of catastrophe models including RMS
Successful track record of developing and maintaining strong relationships with wholesale brokers
Tech savviness and a willingness to experiment with and learn new technologies
Ability to think strategically and function tactically
Exceptional communication skills that energize and engage brokers, clients and colleagues and the ability to convey a vision and client-focused solutions
Ability to present and negotiate complex agreements with brokers
Effective time management and organizational skills
Willingness to travel 20%-30%
Preferred
Advanced insurance certifications (e.g. CPCU)
Benefits
Health insurance coverage
An employee wellness program
Life and disability insurance
401k match
Retirement savings plan
Paid holidays
Paid time off (PTO)
Two options for your health insurance plan (PPO or High Deductible)
Prescription drug coverage (included in your health insurance plan)
Vision and dental insurance plans
Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary
Short and Long Term Disability coverage
Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children)
Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity)
A robust 401k plan with up to a 5% employer match
A retirement savings plan that is 100% company funded
Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries
Eligibility to receive a yearly bonus as a Munich Re employee
A variety of health and wellness programs provided at no cost
Paid time off for eligible family care needs
Tuition assistance and educational achievement bonuses
A corporate matching gifts program that further enhances your charitable donation
Paid time off to volunteer in your community
Company
Munich Re Specialty - North America
Munich Re Specialty combines premier specialty expertise, capabilities, and products to offer partners and customers simplified access to a wide range of specialty insurance solutions and services.
201-500 employees
Funding
Current Stage
Growth StageLeadership Team
Michael Kerner
Chief Executive Officer
Sabrina Hart
President and CEO
Company data provided by crunchbase