Lead Property Underwriter

2 weeks ago


Chicago, Illinois, United States Munich Re Full time
Senior Property Underwriter Company Munich Re America Location Chicago, United States

We are expanding our diverse team of professionals and are seeking individuals dedicated to fostering a culture that encourages the development of innovative solutions for our business sectors and clients. We are open to considering a range of experience for this position, and the compensation will reflect that.

About the Company

As part of Munich Re's US operations, we provide the financial strength and stability associated with being a leader in the global insurance and reinsurance market. Our risk specialists collaborate to create the ideal mix of products and services to help our clients maintain their competitive edge, from traditional reinsurance offerings to specialized insurance solutions.

Munich Re Facultative and Corporate (MR F&C) was established to consolidate Munich Re's facultative and corporate operations into a single global unit. By unifying our single risk business, we enhance our ability to deliver a comprehensive suite of products and services that address the evolving needs of our clients and broker partners.

The Role

In this role, you will be responsible for underwriting corporate property programs, focusing on large commercial and multinational corporate clients in the US, and determining the appropriate terms and conditions for risk-sharing acceptances. You will also spearhead interdepartmental initiatives to develop and implement the underwriting of the property portfolio.

Key Responsibilities:
  • Independently underwrite and price moderately to highly complex business in alignment with corporate, divisional, and departmental guidelines.
  • Produce, underwrite, and manage the portfolio of business in accordance with applicable underwriting standards, strategies, and best practices.
  • Execute the underwriting referral function as specified in the underwriting guidelines.
  • Assist in refining and executing our portfolio strategy.
  • Ensure high-quality underwriting through
    • Coaching and mentoring
    • Technical guidance
    • Regular feedback interactions
  • Establish and maintain a strong market presence by developing strategies for clients and brokers.
  • Identify new business opportunities and promote the Group's capabilities in close collaboration with Client Management.
  • Maintain sound relationships with clients and brokers, staying informed about market trends and client requirements.
  • Exhibit exceptional negotiation skills, managing the complexities associated with sourcing business.
  • Negotiate and finalize offers and contract terms with Brokers/Clients, submitting counter proposals when necessary.
  • Lead interdepartmental projects to develop and implement underwriting strategies.
  • Demonstrate strong leadership abilities by providing clear direction, guidance, and coaching to the team.
  • Show advanced proficiency in pricing models and other risk evaluation tools.
  • Make strategic decisions based on data interpretation beyond standard models.
Qualifications:
  • 10+ years of experience in (re)insurance, brokerage, and/or corporate risk markets.
  • 5+ years of underwriting experience preferred.
  • Bachelor's Degree preferred; advanced degree is a plus.
  • CPCU and other relevant designations are desirable.
  • Demonstrated superior negotiation skills.
  • Strategic decision-making capabilities based on data interpretation.
  • Willingness to travel nationally and internationally up to 30%.
  • Proficiency in pricing models and risk evaluation tools.
  • Excellent written and verbal communication skills.
  • Ability to manage client relationships effectively.
At Munich Re, we view Diversity, Equity, and Inclusion as essential to addressing the challenges and opportunities we face. Our aim is to cultivate an inclusive culture and build a workforce that reflects the diversity of our customers and the communities we serve. We strive to create a workplace where all colleagues feel respected, valued, and empowered to perform at their best every day. We are committed to recruiting and developing talent focused on delivering innovative products and services to our customers.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

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