Property Underwriter

Corporate Property Underwriter

The Company
 As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products. 
 
Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit. We believe that  by aligning our single risk business in one unified team we will better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

 
The Opportunity

Future focused and always one step ahead!

With this opportunity, your primary responsibility will be underwriting corporate property programs (focusing on large commercial and multi-national corporate clients) in the US.  You will develop and determine the commensurate terms and conditions applicable and consider risk-sharing acceptances. You will also assist the head of the Unit to oversee the NA Property portfolio to ensure profitability, assist Claims to validate, and then optimize claims payments, and provide expertise to both internal and external clients.

Responsibilities:

•    Independently underwrite and price moderate to highly complex business in accordance with corporate, divisional and department guidelines and philosophy.
•    Underwrite new and renewal business in accordance with underwriting authority, including all tasks associated with information and data gathering, data manipulation, risk and coverage analysis, pricing, and deal negotiations.
•    Review primary policy, contract and endorsement wording and ensure accuracy and conformance with guidelines
•    Refer all business outside of delegated underwriting authority to appropriate referral underwriter.
•    Assess and analyze required risk information.
•    Maintain complete and accurate business records.
•    Assist management in the assessment of the portfolio to ensure profitability.
•    Collaborate with Claims.
•    Assist management as needed in fulfilling all managerial duties. 

Client Relationship Management: 
•    Develop and maintain strong market presence by developing client and broker strategies.
•    Proven ability to interact effectively with clients, brokers and colleagues
•    Proactively identify and analyze the needs of existing and potential clients.
•    Promote the Group’s capabilities and competencies externally. 

Negotiation:
•    Independently negotiate (re)insurance contracts with clients and brokers based on delegated authority.

Peer Reviews: 
•    Participate in peer reviews of team members’ accounts

Qualifications:

•    5+ years of experience in (re)insurance, broker community and/ or corporate risk market 
•    3+ years of underwriting experience preferred 
•    Bachelor’s Degree preferred; advanced degree a plus 
•    CPCU, Are designations desirable
•    Professional designations a plus
•    Proficiency in the use of pricing models, tools and other risk evaluation models
•    Excellent written and oral communication skills
•    Ability to manage Client relationships and maintain profitable relationships
•    Demonstrated negotiation skills
•    Ability to travel nationally and internationally (up to 25%)

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.