Title:  GSI Property & Casualty Underwriting Lead

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.  

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.  

Please see our website for more information.

Global Specialty Insurance (GSI) Specialty Underwriting Lead

As a member of the Global Specialty Insurance (GSI) Corporate Underwriting team, the GSI Specialty Underwriting Lead assumes a strong role in providing a portfolio level view of the component Specialty risks that make up the global primary insurance portfolio.

The Specialty portfolio contains the following product lines: Cyber, Marine, Political Violence, War, Aviation, Space, Political Risk & Credit, Green Solutions, Engineering, Contingency, Surety, Portfolio Solutions.

The role operates between the first and second lines of defence ensuring the quality of underwriting throughout GSI and the execution of GSI underwriting strategies. The focus will be on consistent views of risk across the local underwriting teams within GSI to support long-term profitability of the Specialty portfolio.

Responsibilities:

As GSI Specialty Underwriting Lead, under limited direction you’ll be responsible for supporting the Head of GSI Specialty Underwriting on the below activities and stepping in to lead when necessary.

Portfolio Oversight:

• Implementation of the Global Specialty UW strategies and Global UW guidelines, where applicable.
• Ensuring there are measurable standards for Business Unit underwriting excellence, including KPIs, best practices, UW quality assurance, sufficient underwriting risk controls, appropriate response to market developments and results monitoring for primary Business Units (BU).
• Coordination of the established Underwriting Strategies and Mandates of the BUs to ensure consistent approaches to risk in the market.
• Conducting regional portfolio monitoring to identify opportunities for improving short- and long-term profitability of the GSI Specialty portfolio, including coordination of quarterly exchange between Reserving, Pricing, Underwriting and Claims. Review and coordinate lessons learned and analyses of BUs for improvement in UW performance.
• Implementing quantitative analytics and pricing methodologies for Specialty segments which contribute to GSI entities making better underwriting decisions that are consistent with Munich Re’s overall approach.

Specialty Underwriting Management:

• Building underwriting guidelines and defining appetite across Specialty lines of business
• Expert handling of referrals from business units seeking approval of risks outside their authority, and acting as a second set of eyes for difficult underwriting decisions - including supporting the BUs through the Global Underwriting & Risk Committee (GURC) referral process.
• Leading or supporting primary insurance business unit underwriting audits/reviews according to risk-based audit plan. In alignment with CU Munich and with the help of compliance and standards groups within the BUs, coordinate audit activities, share best practices, and promote consistency.

Thought Leadership & Market Intelligence:

• Providing thought leadership on Specialty topics, and leadership of Specialty Underwriting Roundtable.
• Supporting emerging risk analysis and cross platform initiatives with Specialty expertise.
• Being recognized as an expert and advisor within the organization who has in-depth and/or breadth of expertise in Specialty lines of business.
• Driving consistent underwriting in terms of policy language, underwriting decisions, portfolio management etc. as a response to industry trends. Identify and consider the impacts industry, regulatory and claims events and trends on GSI portfolio results.
• Evaluate Specialty underwriting training needs, ensuring needed underwriting training within GSI is conducted and contribute to Group training initiatives.

Aligning with Munich Re Group:

• Ensuring that the guidance provided by CU Munich, with respect to Specialty lines of business, is well understood throughout GSI; participate in Expert Groups, Topic Networks and Consulting Groups, and provide cross-divisional support, advice and assistance for underwriting activities. Work with BU underwriting teams to ensure consistent understanding and application of MR guidance.
• Occasional coordination with reinsurance colleagues in the various Reinsurance Divisions, including support for reinsurance underwriting initiatives as needed.

Knowledge and Skills

Experience:

• 10+ years of Specialty Underwriting of primary business preferred.
• In-depth knowledge of insurance underwriting practices and procedures.
• Experience or working knowledge of the London Market, familiarity with US admitted and E&S markets.
• Experience in team leadership, strategy, management or oversight roles preferred.

Skills:

• Strong qualitative and quantitative analytical and decision making skills.
• Strong communications, interpersonal and influencing skills.
• Time management and organizational skills are critical.
• Excellent presentation skills.
• Ability to provide clear underwriting direction on the performance and management of existing products and the development of new products.
• Ability to explain complex insurance and reinsurance concepts to both technical and non-technical audiences.

Qualifications:

• BS/ BA, advanced degree a plus.
• ACII, CPCU, ARe designations preferred.

Other:

• Willingness to travel

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact! 

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