Munich Re
GSI Casualty Underwriting Lead
Munich Re, New York, New York, us, 10261
GSI Casualty Underwriting Lead
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.
The Opportunity
As a member of the Global Specialty Insurance (GSI) Corporate Underwriting team, the GSI Casualty Underwriting Lead assumes a strong role in providing a portfolio level view of the component Casualty risks that make up the global primary insurance portfolio. It is a second line of defense role 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 Casualty portfolio. This role will act as a deputy to the Head of GSI Casualty Underwriting.
Responsibilities
As GSI Casualty Underwriting Lead, under limited direction you'll be responsible for supporting the Head of GSI Casualty Underwriting on the following and stepping in to lead when necessary:
Thought leadership on Casualty topics, and leadership of Casualty Underwriting Roundtable. Support emerging risk analysis and cross platform initiatives with Casualty expertise. Evaluate Casualty underwriting training needs, ensure needed underwriting training within GSI is conducted and contribute to Group training initiatives.Drive a consistent underwriting response in terms of policy language, underwriting decisions, portfolio management etc. as a response to industry trends. Consider their impacts on GSI portfolio results when industry, regulatory and claims events and trends are identifiedBuilding underwriting guidelines and defining appetite across Casualty lines of business.Implementation of the Global Casualty UW strategies and Global UW guidelines, where applicable. Expert handling of referrals from business units (BUs) seeking approval of risks outside their delegated authority and second set of eyes for difficult underwriting decisions including supporting the BUs through the GURC referral process.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 BUs.Coordinate 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 GSI Casualty portfolio, including coordination of quarterly exchange between Reserving, Pricing, Underwriting and Claims. Review and coordinate lessons learned analyses of BUs for improvement in UW performance.Implement quantitative analytics and pricing methodologies for Casualty segments which contribute to GSI entities making better underwriting decisions and are consistent with Munich Re's overall approach.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.Ensuring that the guidance provided by CU Munich , with respect to Casualty 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.Recognized as an expert and advisor within the organization and has in-depth and/or breadth of expertise in Casualty lines of business.Qualifications
In-depth knowledge of insurance underwriting practices and procedures, skill in analyzing qualitative and quantitative data and decision-making capability.10+ years of Casualty Underwriting of primary business preferred.Experience underwriting MGA/Program business.Experience in US admitted and E&S markets, personal as well as commercial lines.BS/ BA, advanced degree a plus.CPCU, ARe designations preferred.Ability to provide clear underwriting intent as it relates to the development of new products.Ability to explain complex insurance and reinsurance concepts to both technical and non-technical audiences.Strong communications, interpersonal and influencing skills.Time management and organizational skills are critical.Excellent presentation skillsWillingness to travel (up to 25%).
The Company is open to hiring in the following locations: New York, NY; Princeton, NJ; Philadelphia, PA; Hartford, CT; Atlanta, GA; Chicago, IL; Amelia, OH; San Francisco, CA.
The salary range posted below applies to the Company's NYC location.
The base salary range anticipated for this position is $193,100 - $283,100 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 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.
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.
The Opportunity
As a member of the Global Specialty Insurance (GSI) Corporate Underwriting team, the GSI Casualty Underwriting Lead assumes a strong role in providing a portfolio level view of the component Casualty risks that make up the global primary insurance portfolio. It is a second line of defense role 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 Casualty portfolio. This role will act as a deputy to the Head of GSI Casualty Underwriting.
Responsibilities
As GSI Casualty Underwriting Lead, under limited direction you'll be responsible for supporting the Head of GSI Casualty Underwriting on the following and stepping in to lead when necessary:
Thought leadership on Casualty topics, and leadership of Casualty Underwriting Roundtable. Support emerging risk analysis and cross platform initiatives with Casualty expertise. Evaluate Casualty underwriting training needs, ensure needed underwriting training within GSI is conducted and contribute to Group training initiatives.Drive a consistent underwriting response in terms of policy language, underwriting decisions, portfolio management etc. as a response to industry trends. Consider their impacts on GSI portfolio results when industry, regulatory and claims events and trends are identifiedBuilding underwriting guidelines and defining appetite across Casualty lines of business.Implementation of the Global Casualty UW strategies and Global UW guidelines, where applicable. Expert handling of referrals from business units (BUs) seeking approval of risks outside their delegated authority and second set of eyes for difficult underwriting decisions including supporting the BUs through the GURC referral process.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 BUs.Coordinate 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 GSI Casualty portfolio, including coordination of quarterly exchange between Reserving, Pricing, Underwriting and Claims. Review and coordinate lessons learned analyses of BUs for improvement in UW performance.Implement quantitative analytics and pricing methodologies for Casualty segments which contribute to GSI entities making better underwriting decisions and are consistent with Munich Re's overall approach.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.Ensuring that the guidance provided by CU Munich , with respect to Casualty 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.Recognized as an expert and advisor within the organization and has in-depth and/or breadth of expertise in Casualty lines of business.Qualifications
In-depth knowledge of insurance underwriting practices and procedures, skill in analyzing qualitative and quantitative data and decision-making capability.10+ years of Casualty Underwriting of primary business preferred.Experience underwriting MGA/Program business.Experience in US admitted and E&S markets, personal as well as commercial lines.BS/ BA, advanced degree a plus.CPCU, ARe designations preferred.Ability to provide clear underwriting intent as it relates to the development of new products.Ability to explain complex insurance and reinsurance concepts to both technical and non-technical audiences.Strong communications, interpersonal and influencing skills.Time management and organizational skills are critical.Excellent presentation skillsWillingness to travel (up to 25%).
The Company is open to hiring in the following locations: New York, NY; Princeton, NJ; Philadelphia, PA; Hartford, CT; Atlanta, GA; Chicago, IL; Amelia, OH; San Francisco, CA.
The salary range posted below applies to the Company's NYC location.
The base salary range anticipated for this position is $193,100 - $283,100 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 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.