Title:  Chief Underwriting Officer - Munich Re Specialty North America

Chief Underwriting Officer - Munich Re Specialty North America

The Company is open to considering candidates in Philadelphia, PA; Princeton, NJ and New York City, NY. 

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

Munich Re Specialty - North America provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients’ needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.

Munich Re Specialty - North America is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on Munich Re Specialty – North America, including licensing, regulatory-required, and other information on the operating companies, visit  Munich Re Specialty - North America Disclosures

The Opportunity

Future focused and always one step ahead!

As a key member of the executive leadership team, the Chief Underwriting Officer (CUO) reports to the CEO and assumes a strategic role in the overall management of the company.  This position is responsible for leading multiple teams to manage all technical underwriting processes of MRSNA, ensuring the quality of underwriting strategies across different product lines to ensure profitable growth, and assuring that all underwriting and pricing guidelines, protocols, and controls are consistently applied throughout the company.  The position is also responsible for MRSNA modeling and analytics efforts. The ideal candidate will have extensive experience in the insurance industry, particularly in underwriting roles, with a proven track record of successful complex risk management.

Responsibilities

• Establish, implement, and monitor underwriting strategy, policy, guidelines and controls for MRSNA, consistent with Group objectives and directives, and consistent with client group focus.

• Direct and manage overall technical underwriting process for MRSNA, assuring a high-level of technical proficiency is achieved in all areas, in order to effectively monitor the performance of our portfolio.

• Oversee MRSNA business portfolio to achieve established business mix and performance goals

• Direct and manage actuarial pricing resources to support the development and maintenance of portfolio and individual account pricing tools and the execution of pricing activities.

• Direct and manage product development resources to deliver new product rates, rules and policy forms and the maintenance, consistency and simplification of existing product rates, rules and policy forms.

• Direct and manage advanced analytics resources to support model development and analytics insights to support improved decision making and efficiencies for underwriting, operations, distribution and claims

• Establish and maintain underwriting file review protocols for MRSNA.

• Establish, maintain and execute MRSNA’s underwriting authority delegation and referral processes.

• Provide thought leadership on market trends, competitive landscape, and emerging risks, and foster a culture of continuous improvement and innovation within the business unit underwriting teams.

• Monitor domestic insurance and reinsurance market trends and developments in order to make adjustments as appropriate to underwriting policy and strategy.

• Motivate and lead a high performance management team; attract, recruit and retain required members of the team not currently in place; provide mentoring as a cornerstone to the management career development program.

• Responsible for the maintenance of relationships and the flow of information between various service and operating units of the Group (e.g. Claims, Legal, HR, GSI and MRG Corporate Underwriting, etc.).

• Establish and deliver technical training curriculum for MRSNA working with other divisions within MRSNA.

Qualifications

• Bachelor degree in Business, Finance, Accounting or related field

• 15+ years insurance underwriting (or related) experience

• 7+ years of people management experience in a complex organization

• In-depth knowledge of the exposure and experience rating processes

• In-depth technical knowledge of single risk, program and treaty insurance underwriting in property and casualty lines of business

• Advanced expertise in risk analytics and financial acumen

• Excellent people skills, with an ability to partner with a dynamic leadership team and stakeholders

• Possess personal qualities of integrity, credibility, and commitment to corporate mission

• Strong negotiation skills

• Deep understanding of insurance products, market trends, and regulatory landscape

• Excellent communication (written, verbal and presentation), interpersonal and networking skills with all levels of organizations.

The Company is open to considering candidates in Philadelphia, PA; Princeton, NJ and NYC, New York. The salary range posted below applies to the Company’s NYC location.

The base salary range anticipated for this position is $306,235 - $510,395 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 displayed represents the typical salary range for candidates hired in this position in NYC. 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.

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.