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Underwriter New York

Job Level:  Professional
Location: 

New York, NY, US, 10019 New York, NY, US, 10005

Available until:  12/31/2022
Area of Expertise:  Underwriting
Unit:  Allianz Global Corporate & Specialty
Employing Entity:  Allianz Global Risks US Insurance Compan
Job Type:  Full-Time
Remote Job:  Hybrid working
Employment Type:  Permanent
ID:  9871

Would like to join our adventure as an Underwriter?  Reporting directly to the Construction Manager, and as a member of a strong team, you will underwrite profitable new and renewal Builders Risk business, to meet E&C targets regionally and with a global element.

 

Role Purpose:

  • Underwrite profitable new and renewal Builders Risk business to meet E&C 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
  • Work effectively within the global matrix

 

Responsibilities:

 

In this role you will

 

Underwrite Profitable Business

  • Underwrite both project and master programs 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 AGCS 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

 

Underwriting Strategy & Leadership

  • 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

 

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 AGCS 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
  • Trade Qualification: Completion of professional insurance qualification (e.g. CII)
  • Minimum 5 to 7 years of significant experience in Underwriting profitable 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
  • Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB
  • Pricing and Market mgt: Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs
  • Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings
  • Policy Management Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation
  • Advanced Analytical Skills: Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire
  • Advanced Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally; ability to "sell" an improvised or prepared audience winning story

 

 

 

The benefits of joining AGCS:

  • Hybrid working model, which recognizes the value in a balance between remote and office based working, giving you the flexibility to organize the way you work
  • An exciting and versatile job with an opportunity to work alongside skilled and specialised colleagues from all over the world
  • An environment where innovation and challenging the status quo is encouraged
  • Wellbeing policies/initiatives to support a positive work life balance
  • A competitive compensation and benefits package including generous bonus scheme 
  • Continuous learning: A large portfolio of continuous learning opportunities to help you stay relevant in your current role, grow into future roles and meet the demands of the workplace
  • Diverse and inclusive culture: You will be accepted for who you are and empowered to use your voice to help others find theirs

 

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us.

Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit 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. Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Worldwide, AGCS operates with its own teams in more than 30 countries and through the Allianz Group network and partners in over 200 countries and territories, employing around 4,250 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2021, AGCS generated a total of €9.5 billion gross premium globally. In 2020, AGCS announced a new strategy and transformation program called New AGCS which aims to comprehensively transform the company, creating a mutually beneficial relationship with stakeholders. This is  an  exciting  time  to  join  AGCS  as  we  continue  on  our  journey  of  transformation,  regaining  market  leadership  and  achieving  success  together. You can grow your career through meaningful work supporting our customers, while learning from expert colleagues.

 

Allianz is an equal opportunity employer and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation. Diversity of minds is an integral part of Allianz’ company culture.

 

Let’s care for tomorrow.


Nearest Major Market: Manhattan
Nearest Secondary Market: New York City