Sr. Underwriter - Financial Lines

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At Allianz Commercial (AzC), we are the global leader for insuring corporate and specialty risks in the Allianz Group.  Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, AzC has the major risks covered when it comes to protecting businesses.

 

Allianz Commercial (AzC) has an immediate opening for an experienced Financial Lines Sr. Underwriter in their New York office. The ideal candidate would have at a minimum five years of experience as a Senior Miscellaneous Professional Liability Underwriter or similar applicable experience may be considered. 

 

The Impact You Will Have:

• Underwrite profitable new and renewal business to meet LoB(s) targets in accordance with underwriting guidelines and underwriting authority
• Negotiate price and terms and conditions
• Ownership of key accounts / clients
• Develop and maintain strong relationships with producers and clients in partnership with Market Management
• Work effectively within the global matrix

 

Key Responsibilities:

Support Underwriting Strategy

• Support development and execution of regional Underwriting strategy for LoB(s)
• Support Key Business Initiatives
• Generate new producer relationships
• Participate/contribute to key projects        

Underwrite Profitable Business

• 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 modeling and interpretation of scenarios (for relevant LoBs)
• Underwrite International Insurance Programs (for relevant LoBs)

Underwriting Approach and Compliance

• 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

Policy Documentation and Administration

• 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

Market Management

• 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

Relationship Management

• 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)

 

Required Skills:

• Bachelor Degree: Preferably degree in Economics, Finance, Insurance Management, or Business Administration
• Certification: Completion of professional insurance qualification (e.g.CII)
• Proven track record in Underwriting profitable business in LoB with 5+ years of experience
• In depth understanding of LoB(s) products and portfolio
• In depth understanding of regional / local LoB (s) insurance markets and competitor landscape
• Demonstrable, established relationships with brokers at peer group level and well established within local market
• Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB
• Portfolio Management: Manage the underwriting books. Analyze trends and scenario plans from which portfolio strategies can be developed and implemented
• Pricing: Analyze current performance against various benchmarks with a view to ensure adequate progress and satisfactory performance
• Market Management: Apply the knowledge of how the market operates and functions, the business needs and customer needs
• Intermediate Analytical Skills: Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire.
• Intermediate Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally; ability to "sell" an improvised o