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E&S Underwriting Manager - Life Sciences

Munich Re

Munich Re

Chicago, IL, USA
Posted on Thursday, June 20, 2024

E&S Underwriting Manager - Life Sciences

Munich Re America
Chicago , United States

E&S Underwriting Manager - Life Sciences

We will consider candidates in New York City, NY; Philadelphia, PA; Atlanta, GA or Chicago, IL.

We are 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.

The Company

Munich Re Specialty North America 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 North America 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 Munich Re Specialty North America, 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.

The Opportunity

We are seeking to add an experienced Underwriting Manager to help support the launch for our new Life Science product located in New York, Philadelphia, Chicago or Atlanta. As a Underwriting Manager for Life Science, you’ll be responsible for building and executing a products and professional liability solution in support of the U.S. Life Science industry.

In this position you will:

  • Drive the product development, strategy, and production for Life Science products, as well as the retention and growth of profitable Life Science industry business.

  • Lead the build out, creation and maintenance of the Life Science Underwriting Team

  • Attract, manage and mentor a team of underwriters, providing guidance and support.

  • Drive the distribution strategy by cultivating new and existing broker relationships that includes development and execution of production strategies and business plans to implement and maximize growth objectives and rate goals.

  • Develop and execute the Underwriting strategy and appetite

  • Measure and optimize portfolio progress by reviewing and analyzing underwriting data and monitoring industry best practices to identify opportunities for continuous improvement

  • Underwrite, market, quote, bind and retain a profitable book of excess and surplus lines and admitted business that meets profitability and growth targets.

    • Operate within granted authority 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.

  • Cultivate and maintain strong relationships with brokers and insured parties across the U.S.

  • Coordination with other Munich Re business units is expected and encouraged to offer the best holistic solutions to our clients.

  • Collaborate with cross-functional teams to ensure alignment and execution of business objective

  • Assistance in day to day operations and projects as assigned which could have client, business group, divisional and corporate impact.

  • Maintaining Underwriting governance across the team

  • Represent the Munich Re brand and Munich Re Specialty Insurance at client events, seminars, meetings, etc.

Successful candidates will possess the following experience/skills/qualifications:

  • Advanced working knowledge Life Science products and pricing, UW processes and procedures, laws and regulations, strategic planning, and relevant industry trends that have been developed in 10+ years of experience

  • Experience in managing a P&L

  • Experience with attracting, motivating, organizing and driving underwriters toward a mutual goal

  • Excellent underwriting, marketing and analytical skills that have been developed in +10 years of experience

  • Successful track record of developing and maintaining strong relationships with brokers

  • Ability to think strategically and function tactically

  • Strong ability to lead, manage and effectively influence peers.

  • 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 and internal stakeholders, as well as develop and maintain strong relationships

  • Effective time management and organizational skills

  • Tech savviness and a willingness to experiment with and learn new technologies

  • Willingness to travel 20%-30%

We will consider candidates in New York City, NY; Philadelphia, PA; Atlanta, GA or Chicago, IL.

The salary range posted below applies to the Company’s NYC location. The base salary range anticipated for this position is $193,100 - $283,100 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. 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, we see Diversity, Equity 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.