Underwriting Specialist

We are looking for an Underwriting Specialist – Property to join our team in Chicago, Illinois.

Your Team
Allianz Commercial (AzC) specializes in corporate property insurance for the most complex and challenging risk exposures in more than 200 countries and territories. With a focus on larger international risk portfolios, we offer tailor-made 'All Risks' property damage and business interruption insurance through our Allianz Commercial Property network.

Our experience speaks for itself, insuring the majority of Allianz Commercial Property Fortune 500 companies, managing over 1000 Allianz Commercial property insurance programs, and fielding an underwriting team averaging over 20 years' experience, backed up a worldwide team of risk consultants and claims specialists.

When it comes to underwriting insurance products for well-known famous sports venues, sports/entertainment facilities, major airlines, retail/wholesale companies, banks and manufacturers, we do it all

The Impact You Will Have
As an Underwriting Specialist at AGCS, you will play a crucial role in driving the profitability and growth of our business. You will be responsible for underwriting both new and renewal business, ensuring alignment with our Property Line of Business (LoB) targets and underwriting guidelines. Your expertise will contribute to maintaining strong relationships with key accounts and clients, as well as developing new business opportunities. Your work will directly impact our ability to meet top and bottom-line targets, manage capacity, and uphold our reputation in the market.

Some Of Your Specific Responsibilities Could Include

• Underwriting Profitable Business: Underwrite new and renewal accounts to meet top and bottom-line targets, negotiate price and terms with key producer partners, and proactively manage capacity.
• Risk Assessment and Management: Evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modeling and interpretation of scenarios for relevant LoBs.
• Underwriting Approach and Compliance: Underwrite in line with LoB governance frameworks, ensure contract certainty, and utilize global pricing tools.
• Policy Documentation and Administration: Ensure accurate policy documentation, maintain file records, and support policy administration and credit control processes.
• Market Management: Support acquisition of new business and retention of existing business, liaising with Market Management on initiatives.
• Relationship Management: Represent AGCS positively in the market, drive involvement of functional areas in the underwriting process, and maintain strong relationships with key producers and clients.

What You'll Bring To The Role

• Technical Expertise: Proven track record in underwriting profitable commercial property business, with a robust understanding of property products and portfolio.
• Risk Assessment Skills: Ability to assess risk inherent exposures and natural hazards relevant to LoB.
• Portfolio Management: Experience in managing underwriting books, analyzing trends, and developing portfolio strategies.
• Pricing Analysis: Ability to analyze current performance against benchmarks to ensure satisfactory progress.
• Market Insight: Understanding of how the market operates, business needs, and customer needs.
• General Skills: Strong analytical skills, communication and presentation abilities, and proficiency in IT tools such as PowerPoint, Excel, and Word.
• Education and Certification: Preferably a degree in Economics, Finance, Insurance Management, or Business Administration, with progress towards professional insurance qualifications (e.g., CII).
• Experience: Minimum 4 to 7 years of experience in underwriting and working within a complex, global matrix organization.
• A basic understanding of artificial intelligence (AI) and its potential applications in business is essential.

If you are ready to make an impact and contribute to the success of AGCS, we invite you to apply for the Underwriter position. Your expertise and dedication will be key in driving our business forward and maintaining our leadership in the insurance industry.

85205 | Underwriting | Professional | Allianz Commercial | Full-Time | Permanent

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 is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

Learn more about careers at Allianz Commercial by clicking here.

Learn more about Allianz Commercial by clicking here.

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

We therefore welcome applications regardless of race, ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us.
Let's care for tomorrow.

People With Disabilities
We want to give all our candidates the best opportunity to succeed.  If you need any adjustments to be made during the application and selection process, please email

Recruitment Agencies
Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm.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. Failure to comply could/may result in the disqualification of the candidates and/or the termination of our contract and/or fees not being paid.