AVP/UW Specialist, Alternative Markets

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.

Position Summary:

Are you an experienced middle markets underwriter frustrated by losing key renewals to captives? Or an E&S underwriter facing a high volume of new business with a low hit ratio? Are you tired of chasing brokers for submissions, only to see their top accounts placed in group captives? Or perhaps you are simply looking to take your underwriting career in a new and exciting path?    

Join the Alternative Markets team at Arch, where you’ll have the opportunity to partner with business owners, helping them navigate risk in a way that drives positive, mutually beneficial outcomes.

As an Underwriter within Arch Alternative Markets, this position is responsible for the technical underwriting, account management and client management of casualty captive programs.

Responsibilities and Accountabilities:

• Technical Underwriting

  • Solicits and reviews new and renewal account information required to evaluate a risk

  • Identifies all potential exposures and hazards in relation to coverage requested and individual and program risk characteristics

  • Assesses insurance and related financial risk in order to structure appropriate captive programs to effectively protect against frequency, severity, catastrophic and credit risk

  • Engage other internal resources as necessary

  • Underwrites, prices and prepares proposals within authority and with necessary input of Arch Actuarial, Credit and Alt Market team

  • Prepares program binders and presents to captive manager/producer and or prospective insured

  • Coordinates all administrative duties related to existing and prospective accounts

• Account Management

  • Quarterbacks all pre and post bind activities including policy production, compliance issues, audits and adjustments, legal agreements, receipt of collateral, legal agreement execution, TPA coordination and any other related items

  • Together with internal team members, takes responsibility to deliver promised service to customers

  • Responsible for the renewal and retention management and manages the renewal process to achieve targeted retention and price change goals

  • Initiates, coordinates and conducts a midterm account review

• Client Management

  • Develops and maintains relationships with producers and insureds to achieve overall production and profitability goals

  • Meets with producers and insureds to discuss individual account issues, uncover critical customer needs and financial buying characteristics

  • Develops a strategic plan for positioning and selling Arch at both the producer and the insured level

  • Engages and introduces other team members or management team as appropriate

  • Develops and maintains relationships with producers to generate a flow of qualified submissions

• Administrative

  • Responsible for all underwriting and policy file documentation which is in compliance with Arch's internal audit process

  • Completes ad hoc projects as assigned by management

Required Skills and Abilities:

• Four to seven (4-7) years underwriting experience and/or experience in the loss sensitive/captive insurance marketplace

• Established broker or captive program relationships a plus

• Understanding and knowledge of the intent, scope and purpose of the Workers Compensation, General Liability, Automobile coverage forms and endorsements with the ability to tailor to the sold captive program design

• Possess a thorough understanding of loss sensitive programs and an understanding of captive programs including products, pricing, expensing, actuarial loss projecting techniques, retention and aggregate setting, limit profiles, ALAE, credit risk, and effective utilization of facultative reinsurance

• Understanding and knowledge of exposure identification and analysis

• Possess a cross functional generalist knowledge of other disciplines including claims, risk control, audit, premium accounting, finance and legal. Knowledge of regulatory and compliance issues

• Excellent communication skills - written, verbal and presentation

• Sales and Negotiation skills

• Provides leadership and support to other team members

• Performs multiple tasks simultaneously

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