Underwriting Specialist - Inland Marine
Company: Disability Solutions
Location: Chicago
Posted on: October 25, 2024
Job Description:
If you are a current AzC employee and wish to refer a candidate
for this role, please click for instructions and eligibility
criteria Cluster: Allianz Professional Let's care for tomorrow.
Your ambitions. Your dreams. Your tomorrow 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. We are looking for
an Underwriting Specialist - Inland Marine with strong experience
underwriting products such as construction, transportation, and
related property. This position is remote position based in
Illinois. Your Team Allianz Commercial (AzC) is one of the largest
marine insurers in the world and is a leader in inland marine
insurance and related property coverage across North America and
various worldwide locations. With a depth and breadth of marine
capabilities that are unmatched in the industry. Allianz offers a
broad portfolio of highly customizable products and an almost
unlimited appetite for complex marine accounts that demand
innovative solutions. Our Inland Marine and Related Property
Insurance solutions cover over 100 classes of business, covering
all aspects of moving or movable property. Whether it's a building
under construction or a shipment of an original Picasso, our inland
marine insurance underwriters provide flexible and creative
solutions for the most challenging of inland marine exposures. The
Impact You Will Have Reporting to the Midwest Zone Leader - Inland
Marine , this position will underwrite profitable new and renewal
business to meet the inland marine line of business targets
regionally including global elements. Ownership of large
accounts/clients including negotiation of participation, pricing
and terms and conditions. Training and development of team and
referral point for underwriters. Develop and maintain strong
relationships with brokers and clients. Specialized technical
expertise / lead for at least one sub-LoB. Some of your specific
responsibilities could include:
- 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)
- 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.
- 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.
- Contribute to development and execution of regional
Underwriting strategy for LoB regionally. Training, developing and
coaching of less experienced staff (including Underwriters). Manage
complex referrals from underwriters and spokes and re-underwrite
complex business as appropriate. Delegate work as appropriate.
- 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.
- 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) What You'll Bring to
the Role -
- A minimum 5 years' significant experience in Underwriting
profitable inland marine business in LoB. Specialized expert
understanding of sub-LoB products and portfolio. Recognized
relationships with brokers at peer group level and well established
within market. Specialized understanding of regional / local LoB
insurance markets and competitor landscape, including global
elements. Good understanding of legal and regulatory framework.
Experience working in complex, global matrix organization.
- Well versed in multiple inland marine products such as
construction, transportation, miscellaneous coverages, and property
(i.e., builder's risk, contractor's equipment, motortruck cargo,
physical damage, mono line property for small to medium risks, and
scheduled property floaters).
- Preferably a bachelor's degree in Risk Management, Insurance,
Business Administration, Finance or Economics. Completion of a
professional insurance qualification.
- Ability to assess risk inherent exposures and natural hazards
relevant to LoB. Analyze current performance against benchmarks
applying how the market operates and functions, the business needs
and customer needs. Design, develop and implement consistent,
robust wordings. Robust understanding of policy administration life
cycle, information collection, policy issuance, premium bookings,
credit control, cancellation.
- Ability to analyze highly complex data, from multiple sources,
in detail; identify and resolve issues before they transpire.
Ability to express ideas and messages clearly, both written and
verbally. Ability to "sell" an improvised or prepared audience
winning story. Use general office application tools e.g. Power
Point, Excel, Word. Ability to persuade and motivate others to act,
without executive authority. The annualized base pay range for this
role is $114,323 to $196,052. The annual base salary range
represents a nationwide market range. The actual salary for this
position may be above and will be determined by several factors,
including the scope, complexity and location of the role, the
skills, education, training, credentials, and experience of the
candidate. The base pay is just one component of the AzC total
compensation package. As part of our comprehensive compensation and
highly rated benefits programs, employees are also eligible for
annual performance-based cash incentive awards. What's in it for
you? Let's care about everything that makes you, you We are
committed to nurturing an inclusive environment where everyone
feels they belong. We offer a hybrid working model, which
recognizes the value of striking a balance between in-person
collaboration and remote working. Please feel free to discuss
flexible working arrangements with us. Let's care for your
financial wellbeing We believe in rewarding performance with a
great compensation and benefits package (details vary by location),
including a generous bonus scheme and pension. Let's care for your
opportunities to progress From career development and digital
learning programs to international career mobility, we offer
lifelong learning for our employees worldwide and an environment
where innovation, delivery and empowerment are fostered. Let's care
for life's twists and turns From our support for flexible working,
health, and wellbeing (including private healthcare and generous
parental leave benefits), to helping people return from career
breaks with experience that nothing else can teach. We ' ve got
your back. Let's care for our society and our planet With
opportunities to be engaged in shaping a future that is safe,
inclusive, and sustainable, we care for the tomorrows of our
people, our industry, and our clients. Care to join us? Allianz
Commercial (AzC) is a global corporate insurance carrier and part
of Allianz Group. We provide risk consultancy, Property-Casualty
insurance solutions and alternative risk transfer for a wide
spectrum of commercial, corporate and specialty risks across 10
dedicated lines of business. Learn more about us by clicking .
Allianz is an equal opportunity employer, and therefore welcomes
applications regardless of ethnicity or cultural background, age,
gender, nationality, religion, disability, sexual orientation, or
any other protected characteristic. Diversity of thinking is an
important part of our company culture. Recruitment Agencies: AzC
has an in-house recruitment team, which focuses on sourcing great
candidates directly. AzC does not accept unsolicited resumes from
agency or search firm recruiters. Fees will not be paid in the
event a candidate submitted by a recruiter without an agreement in
place is hired. When we do use agencies, we have a PSL in place, so
please do not contact managers directly. #LI-NG1 #LI-Remote Nearest
Major Market: Chicago
Keywords: Disability Solutions, Rockford , Underwriting Specialist - Inland Marine, Other , Chicago, Illinois
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