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Corporate Accounts Liability Underwriter

Job Level:  Professional
Location: 

Minneapolis, MN, US, 55416

Due Date:  As soon as possible
Area of Expertise:  Underwriting
Unit:  Allianz Global Corporate & Specialty
Job Type:  Full-Time
Remote Job:  Home office due to Covid-19
Employment Type:  Permanent
ID:  4457

Whether it’s airplanes, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, Allianz Global Corporate and Specialty (AGCS) have got the major risks fully covered when it comes to protecting businesses.

 

 

Job Purpose:

  • Underwrite profitable new and renewal Umbrella/Excess business, to meet Corporate Accounts Liability targets regionally, including global elements;
  • Negotiate price and terms and conditions;
  • Ownership of large accounts/clients including negotiation of participation, pricing and terms and conditions;
  • Training and development of team and referral point for underwriters; and
  • Develop and maintain strong relationships with brokers and clients.

 

Responsibilities:

In this role you will…

  • Underwrite Profitable Umbrella/Excess business.
  • Underwrite new and renewal accounts to meet top and bottom line targets.
  • Negotiate participation, pricing and terms and conditions with brokers.
  • Proactively manage capacity.
  • Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios for Corporate Accounts Liability business.
  • Underwrite International Insurance Programs Corporate Accounts Liability.
  • Underwrite in line with Corporate Accounts Liability 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 broker (where AGCS responsibility to do so) or broker has issued documentation (where producer responsibility).
  • 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 Corporate Accounts Liability regionally.
  • Training, developing and coaching of less experienced staff (including Senior Underwriters).
  • Manage complex referrals from underwriters and spokes and re-underwrite complex business as appropriate.
  • Delegate work as appropriate.
  • Proactively drive acquisition of new business and retention of existing business for large/key clients (including client and broker negotiations where necessary).
  • Proactively liaise with MMC on market management initiatives.
  • Positively represent AGCS externally to the market.
  • Proactively drive involvement of functional areas in Underwriting process, including MMC, ARC, Claims, and Operations.
  • Develop and maintain strong relationships with key producers and clients and other relevant stakeholders (e.g., risk managers).

 

To be successful in the role:

You will have….

  • Bachelor Degree, preferably in Economics, Finance, Insurance Management or Business Administration;
  • Experience in Underwriting profitable Corporate Accounts Liability business;
  • Understanding of multiple sub-LoB products and portfolio;
  • Understanding of Corporate Accounts Liability products and portfolio;
  • Understanding of regional/local Corporate Accounts Liability insurance markets and competitor landscape;
  • Relationships with brokers at peer group level and well established within market;
  • Good understanding of legal and regulatory framework;
  • Experience working in complex, global matrix organization;
  • Ability to assess risk inherent exposures and natural hazards relevant to Corporate Accounts Liability business;
  • Analyze current performance against various benchmarks, applying the knowledge of 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, and 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;
  • Ability to use general office application tools (e.g., Power Point, Excel, and Word; and
  • Ability to persuade and motivate others to act, without executive authority.

 


Nearest Major Market: Minneapolis