Underwriting Manager
8 days ago
New York
All locations Princeton, United States; Chicago, United States; Hartford, United States; New York, United States; Philadelphia, United States; We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. The Company Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America. The Opportunity Future focused and always one step ahead! The Underwriting Manager is responsible for management of the US based underwriting team who, in conjunction with the rest of the Managed Underwriting team located in the UK, are responsible for the management and oversight of the delegated portfolio. This role incorporates underwriting and portfolio management, people management, and coverholder relationship management across a substantial book of US binding authority business comprising multiple lines and perils. The ideal candidate is an experienced underwriting management level professional with strong analytical, leadership, and relationship-management capabilities. Responsibilities Underwriting & Portfolio Management • Work with the CUO and Head of Delegated Underwriting to support the US based team towards successful execution of our underwriting strategy and plan, in accordance with applicable underwriting authority levels, underwriting guidelines, internal directives, and client strategies., • Manage and steer underwriting results for the applicable segments of the portfolio, utilizing MI and KPIs to critically analyze and evaluate the business - including review of production, loss experience, exposure, rate adequacy, and pricing discipline., • Manage and underwrite individual account referrals where necessary, and provide risk referral support and peer review for the US-based team., • Assess and refine underwriting guidelines, pricing models, and program performance metrics in collaboration and alignment with the rest of the Binding Authorities Underwriting teams and with Corporate Underwriting, where necessary., • Manage CAT budget allocations and related economic analysis for the applicable segments of the portfolio, including premium projections and rate management against cost of capital., • Review and approve contractual documentation and coverage forms., • Stay current on external market trends and report internally to various stakeholders within Munich Re Specialty - North America., • Collaborate with and actively participate on any cross-functional committees across Munich Re Specialty - North America. Coverholder & Client Management • Manage coverholder oversight, including relationship management, operational reviews, audits, and due diligence., • Conduct customer visits, marketing travel, and support team members in managing their travel schedules., • Conduct policy and underwriting file reviews to ensure accuracy, consistency, and adherence to standards., • Ensure coverholders adhere to underwriting standards, regulatory requirements, and program guidelines., • Take a prominent role in developing and overseeing new and existing business relationships. Operational & Cross-Functional Collaboration • Work closely with IT, Accounting, Claims, and other internal functions to resolve technical, operational, and system-related issues., • Participate in the development and improvement of underwriting systems, processes, and tools and provide guidance and support to US-based underwriters in their implementation and use., • Ensure compliance with regulatory, licensing, and internal governance requirements. Leadership & Personnel Management • Provide leadership and direction to the underwriting team, including recruitment, hiring, training, performance management, and professional development., • Oversee staff performance and address personnel matters, including coaching, mentoring, and corrective action when necessary., • Foster a high-performance, collaborative culture that emphasizes accountability and excellence, as well as ensuring close collaboration with the UK-based Managed Underwriting team and other UK-based functions. Qualifications Successful candidates will possess the following experience/skills/qualifications: • Extensive experience in Property/Casualty underwriting or underwriting management, preferably with an insurance carrier or wholesale broker., • Strong background in Property, Personal Lines, and small Commercial Casualty business., • Surplus Lines experience required; knowledge of WSIA members preferred., • Strong competency in insurance coverage forms-ISO required; Lloyd's and manuscript forms would be beneficial., • Experience reviewing and auditing underwriting files and managing staff who perform these functions., • Computer proficiency in Outlook, Word, Excel; Power BI and PowerPoint experience preferred., • Insurance designations (e.g., CPCU, AU, RPLU) are a plus., • Familiarity with regulatory and licensing requirements is beneficial., • Excellent verbal and written communication skills., • Highly organized, independent, and able to manage multiple responsibilities with minimal supervision., • Strong relationship-building, negotiation, and marketing skills., • Traveling responsibilities: approximately 30%. The Company is open to considering candidates in numerous locations, including New York City (NYC), Princeton (NJ), Hartford (CT), Philadelphia (PA), and Chicago (IL). The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography. The base salary range anticipated for this position is $177,700-$296,100, plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO). The salary estimate is adjusted to reflect the varying market conditions across different locations, with the with the higher end being more aligned with the NYC job market. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range. We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits: • Two options for your health insurance plan (PPO or High Deductible)., • Prescription drug coverage (included in your health insurance plan)., • Vision and dental insurance plans., • Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary., • Short and Long Term Disability coverage., • Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children)., • Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity). In addition to the above insurance offerings, our employees also enjoy: • A robust 401k plan with up to a 5% employer match, • A retirement savings plan that is 100% company funded., • Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries., • Eligibility to receive a yearly bonus as a Munich Re employee., • A variety of health and wellness programs provided at no cost., • Paid time off for eligible family care needs., • Tuition assistance and educational achievement bonuses., • A corporate matching gifts program that further enhances your charitable donation., • Paid time off to volunteer in your community. At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services. We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. #LI-MB1 ___ Save job
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