Senior Underwriter
3 weeks ago
We are looking for a Senior Underwriter - Inland Marine.This role will be a hybrid working schedule, based in our San Francisco, California office. 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 Zone LoB Head Inland Marine West, this position will take prime responsibility for underwriting profitable new and renewal business to meet the inland marine line of business targets in accordance with underwriting guidelines and underwriting authority. In addition, negotiate price, and terms and conditions, own accounts/clients, while developing and maintaining strong relationships with producers and clients in partnership with Market Management.
Some of your specific responsibilities could include:
- Underwriting new and renewable accounts to meet top and bottom-line targets (local and/or regional). Negotiating 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 relevant LOBs). Underwrite International Insurance Programs (for relevant LOBs).
- Underwriting 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 broker (where AzC responsibility to do so) or broker has issued documentation (where broker 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
- Support development and execution of regional Underwriting strategy for LoB regionally. Training, developing and coaching of less experienced staff (including junior underwriters, operations, credit control). Manage standard 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 broker 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 brokers and clients and other relevant stakeholders (e.g. risk managers)
What You'll Bring to the Role -
- We'd like to find someone with a minimum 3 years' proven track record in underwriting profitable inland marine business. Good understanding of its products and portfolio. Demonstrable, established relationships with brokers at peer group level and established within market. Good understanding of regional/local inland marine markets and competitor landscape, legal and regulatory framework, with experience working in complex a 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. Analyze current performance against benchmarks applying how the market operates and functions, the business and customer needs.
- Skilled in designing, developing, and implementing consistent, robust wordings for contract drafting.
- Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, and cancellation.
The annualized base pay range for this role is $90,188 to $154,679. 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 here. 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-Hybrid
Nearest Major Market: San Francisco Nearest Secondary Market: Oakland
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