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Underwriting Careers at Industry Leaders

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Corporate Underwriting Specialist

Munich Re

Munich Re

New York, NY, USA
Posted on Saturday, June 29, 2024

Corporate Underwriting Specialist

Company
Munich Re America
Location
New York , United States

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 Insurance Operations

Munich Re Specialty North America (MRSNA) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. 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 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

The Opportunity

The corporate underwriting expert is responsible for the oversight, monitoring and steering of our casual, management and professional line offerings. You will partner with the financial lines leadership team to drive top and bottom line performance, acting as their trusted advisor for technical expertise, portfolio steering and referral authority.

Responsibilities:

  • Evaluate new opportunities, building underwriting guidelines, defining appetite, and creating a rating framework across numerous professional and management liability lines.
  • Serve as subject matter expert on areas of exposure, coverage analysis, and key pricing/financial elements
  • Monitor frameworks for underwriting decisions (e.g., referrals, technical reviews) and recommend improvements
  • Drive underwriting technical excellence working with underwriting leaders to identify and resolve issues.
  • Identify product and services enhancements, underwriter capability development opportunities (e.g., skills, tools), and engage with cross functional teams to develop and deploy
  • Expert-level knowledge of all aspects of coverage forms, exclusions, and exposure. Pricing, structure, rating, rating plans, loss forecasting, credit risk, market knowledge, preferred.
  • Ensure application of consistent guidelines/standards across business units with the aim to reduce friction in the underwriting process and ensure underwriting discipline across and within our suite of products
  • Manage referral structures, including letters of authority, and underwriting referrals
  • Participate on underwriting audits, including follow-up actions
  • Support development of policy wording and ensure wording is fit for product purpose
  • Work closely with actuarial and underwriting leaders to implement and enforce pricing positions

Job Requirements:

  • Significant depth of underwriting expertise developed over 7+ years of insurance or reinsurance 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 Company is open to considering candidates in Atlanta, GA; Princeton, NJ; Philadelphia, PA; Chicago, IL; San Francisco, CA or New York City. The salary range posted below applies to the Company’s NYC or San Francisco locations.

The base salary range anticipated for this position is $ 150,300 - $220,400 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 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.

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