Head of Public Entity Risk Solutions

Head of Public Entity Risk Solutions

Company: Munich Re America

Location: Chicago, United States

The Company is open to considering candidates in numerous locations: Philadelphia, Chicago, New York, and Princeton NJ.

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.

The Opportunity

This position is responsible for the management and administration of underwriting for the Casualty Business written in the Public Entity Risks Solutions group. This position is also a member of the Munich Re Specialty – North America Executive Leadership Team. Foster a culture of constant improvement that empowers and enables the creation of innovative solutions for our clients and lead a team of underwriters to achieve divisional business goals and objectives. Actively support and contribute toward Public Entity Risk Solutions transformation to a data-driven enterprise which proactively leverages data and analytics to inform underwriting and marketing strategies and decisions.

Key Responsibilities of this position include:

• Responsible for the profitability and growth of the Public Entity Risk Solutions casualty portfolio.
• Lead and develop a team of underwriting managers and underwriters, creating a team culture that aligns with the Company’s mission, vision, and values.
• Effectively delegate work and maximize productivity of the team, setting priorities and eliminating unnecessary work. Facilitate all levels of organizational communication and support/own company decisions that impact the team.
• Establish business plans and client and account production strategies to maximize profitable divisional growth.
• Develop account opportunities with entities such as individual insureds, group captives, risk retention groups, pools, and funds.
• Establish and maintain professional relationships with senior management of existing or prospective clients.
• Exercise innovative problem-solving and non-traditional approaches to program design and financial structuring while reviewing all aspects of a client’s operation and provide insight for profitability, growth, and financial stability.
• Develop, enhance, and drive strategies for operational effectiveness that support growth plans and speed to market.
• Responsible for proper staffing of the unit and support of Strategic Workforce Planning overall for Public Entity Risk Solutions casualty business.
• As a member of the Munich Re Specialty – North America Executive Leadership Team, participate in the development of the division’s financial and strategic plans, goals, and objectives.
• Become familiar with key talent within Munich Re Specialty – North America and work to actively engage, empower, and develop employees.
• Foster a culture of collaboration across all Munich Re Specialty – North America units enhancing Divisional success.
• Support cross-platform opportunities to enhance our value to client relationships across Global Specialty Insurance.
• Ensure underwriting and production efforts are in compliance with corporate underwriting guidelines and established best practices.
• Review and approve individual underwriting authorities in order to maximize individual accountability and efficiency.
• Establish clear processes for prioritizing departmental and individual workloads.
• Maintain in-depth knowledge of all tools and models used in the underwriting process.
• Ensure a clear understanding of our underwriting guidelines and pricing guidelines to ensure appropriate risk-reward decision-making.

Job Requirements:

• Bachelor's Degree
• Strong underwriting, marketing, and analytical skills that have been proven over 10+ years of insurance/reinsurance and client management experience.
• 5+ years of management experience.
• Casualty insurance lines experience.
• Exceptional communication skills that energize and engage clients and colleagues, with the ability to convey a vision and client-focused solutions.
• Excellent negotiation and consultative skills which can be deployed at any level of an organization, including creativity, emotional intelligence, adaptability, and problem-solving skills.
• Tech savviness and a willingness to experiment with and learn new technologies.
• Ability to think strategically and function tactically.
• Effective project management skills related to execution overall and evaluation of new insurance programs and their in-force management.
• Willingness to travel 20%-30%.

The base salary range anticipated for this position is $262,500 - $437,500 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).

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.

Apply now!