What are the responsibilities and job description for the Underwriting Manager / Underwriting Specialist, Professional Liability (Cyber) position at 14400 Arch Insurance Group Inc.?
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Underwriting Manager/Specialist, Cyber Liability
The Position
The Underwriting Manager/Specialist is responsible for the submission generation, underwriting and policy issuance of Cyber & Technology Liability accounts with potential to work on Miscellaneous Professional Accounts in the Central Region.
Job Responsibilities
- Build strong long term profitable relationships with agents, brokers and policy holders.
- Generate pipeline of submissions that meet department appetite.
- Evaluate applications and related materials to determine acceptability of risks in accordance with company guidelines and standards. Determine the need for additional evidence of insurability.
- Participate in underwriting calls with clients and brokers to assess client’s cybersecurity controls
- Exercise judgment, negotiation and sound business decision making based on level of authority.
- Prepare quotes and answer questions from brokers, policyholders or other external contacts and escalate issues to management along with proposed solutions as necessary.
- Provide acceptable level of underwriting documentation for all assigned accounts. Be able to articulate underwriting positions and most importantly, reasons for such positions internally and externally.
- Keeps current on claim trends and changes in legal and regulatory environment.
- Provide monthly forecasts for new and renewal business and regular reconciliations to such forecasts.
- Monitor new business flow, quote ratio and hit ratio from each target agency to monitor variances to plan. Develop strategies to correct variances with each agency.
- May provide guidance and assistance to other underwriters and to other functional areas particularly when related to cross-sell opportunities
- Potential to move into a managing role for the right candidate
Required Skills/Experience
- 4-6 years of Cyber underwriting experience
Desired Skills/Experience
- Strong relationships with wholesale and/or retail Cyber brokers
- Strong interpersonal and communication skills and the ability to work with management at a senior level
- Knowledge of broader MPL classes of business is desirable
- Highly motivated with the ability to work independently or as part of a team
- Ability to organize, prioritize and manage multiple priorities
- Independent and innovative thinker with creative problem solving skills & strategic thinking
- Strong analytical skills/judgement and mathematical skills
- Strong mentoring/coaching skills to more junior colleagues
- Effective communication – both oral and written
- Effective negotiation skills
Education
- BA or BS, ideally with a degree/major in Economics, Business, Finance, or Accounting
The Company
Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, and Australia, providing specialty risk solutions to clients worldwide across a wide range of industries. With nearly 20 years of operating history and strong financial ratings, our track record remains solid.
Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.
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For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.
$130,000 - $150,000 10% target bonus
Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.
Click here to learn more on available benefits.
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14400 Arch Insurance Group Inc.