Policy Wording Specialist - Property Insurance

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Cluster: Allianz Professional

Let’s care for tomorrow.  

Your ambitions. Your dreams. Your tomorrow  

At Allianz Commercial (AzC), we are the global leader for insuring corporate and specialty risks in the Allianz Group.   Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks, or climate change impacts, AzC has the major risks covered when it comes to protecting businesses.

We are looking for a Policy Wording Specialist for our property insurance line of business.   This is a hybrid position based in the New York city office.

Your Team

Allianz Commercial (AzC) specializes in corporate property insurance for the most complex and challenging risk exposures in more than 200 countries and territories. With a focus on larger international risk portfolios, we offer tailor-made 'All Risks' property damage and business interruption insurance through our global network.

Our experience speaks for itself, insuring the majority of Global Fortune 500 companies, managing over 1000 global property insurance programs, and fielding an underwriting team averaging over 20 years’ experience, backed up a worldwide team of risk consultants and claims specialists. When it comes to underwriting insurance products for well-known famous sports venues, sports/entertainment facilities, major airlines, retail/wholesale companies, banks and manufacturers, we do it all!

The Impact You Will Have

Reporting to the Chief Underwriting Officer, North America, this position will lead Policy and Reinsurance Certificate wording development in North America. Provide regulatory compliance guidance and form support, oversight across the product portfolio, for the Commercial Property Line of Business (LOB). Direct responsibility for: leading, coordinating, and implementing policy wording development, wording libraries, frameworks, and templates.

Leading coordination of state regulatory filings for all product forms, overseeing and implementing form changes based on state laws and Allianz Commercial (AzC) Functional Rules; creating, maintaining, and updating all state specific amendatory wordings for all forms for Property products; liaising and coordinating with other LOBs, Compliance, Regulatory and Operations regarding any changes that impact Policy wording. Implementing strategies re: Commercial Deregulation and other alternatives to rate and form filings. Responsible for supporting LOB with the underwriting tools including the AzC AI Policy Wording platform, Policy Wording Functional Rules, Policy Wording Training, Forms Libraries and Compliance related tools. Assists the Product Development team in drafting Property products.

Some of your specific responsibilities could include:  

• Regulatory Compliance:
  
• Determine what and when forms need to updated to align with state regulations
• Keep abreast of regulatory changes that impact Property products
• Attend and participate in Regulatory Operational bi-monthly meetings as Property representative
• Create and advise Chief Underwriting Officer on regulatory strategies to increase and maintain filing compliance
  
• Filings
  
• Create and initiate forms filings for all Property products (account specific and general use)
• Coordinate filings with actuarial and regulatory departments
• Create form and underwriting rules. Respond to state filing objections
• Liaise with underwriting teams to ensure understanding and implementation of all regulatory matters as they evolve and change. Train and educate as necessary.
  
• Policy Form Support
  
• Draft all state specific forms (amendatory and termination)
• Advise underwriters on which forms to use
• Update forms to align with functional rules and Property style
• Ensure all Policy Wording is in compliance with Functional Rule and AzC standard.
• Support UW teams in the analysis of competitor wording and manuscript wording. Ensure all state specific amendatory wordings are enforced and compliant.
• Perform manuscript policy form reviews and/or interpret/write new wordings in conjunction with Underwriting, Claims, and Legal.
  
• Forms Management Systems
  
• Create and maintain forms libraries for all Property products
• Support the implementation and use of AzC product and underwriting systems (legacy, current, and future)
• Act as the Property liaison for operations and IT with respect to form rules and implementation. Work with the BMP team on the implementation of AI tools
  
  

What You’ll Bring to the Role –  

• A minimum 3 years’ experience in insurance forms filings with state insurance departments. Must have Commercial Property Insurance Product knowledge.
  
• This role is ideal for individuals who have experience in the insurance industry working in governance and management of loss policies, creating best practices and standards, reacting to emerging risks when they’re contested in court (and the standards around this). Regulatory compliance experience in an insurance line of business (lob).
• Could also have experience as a high/expert level property underwriter with experience in policy wording OR a Product Development Specialist in the property lob for an insurance company.
  
• Understanding of relevant technical and financial analysis of regulatory filings
• Experience with applying state insurance laws to liability and fidelity products
• Strong analytical skills using logical and methodological approaches to problem solving
• Created and organized various types of liability and fidelity insurance product forms, libraries, and workflows
• A Bachelor’s Degree from a University or Liberal Arts College. Advanced knowledge of Excel, SharePoint, Office 365, and Word applications. Preferred: experience using AI software
• Ability to independently initiate forms filings with all US states and territories; good understanding SERFF filing requirements; ability to align form filings with rate statements, rate plans, and form rules.
• Ability to read and explain financial lines insurance products, understanding of the various parts of quotes, binders, policies.
• Knowledge of state regulations, including filing requirements; ability to quickly find new regulations and surveys; knowledge of the main coverage areas impacted by state regulations, and ability to update coverage to be compliant. Ability to understand filed rates and rate filings for products.
• Ability to find and analyze state insurance regulations from multiple sources and create strategy for implementing and updating products; identify and resolve issues before they transpire.
• Ability to clearly and succinctly communicate verbally and in writing at a level appropriate for different audiences, including state regulators, insureds, underwriters, operations staff, actuaries, teammates.
• Ability to develop, implement, and communicate strategies to address regulatory changes, filings, and workflows with respect to FL products
  
  

The annualized base pay range for this role is $112,943 to $193,617. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by several factors, including the scope, complexity and location of the role, the skills, education, training, credentials, and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.

What’s in it for you?  

Let’s care about everything that makes you, you  

We are committed to nurturing an inclusive environment where everyone feels they belong.   We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working.   Please feel free to discuss flexible working arrangements with us.  

Let’s care for your financial wellbeing  

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.  

Let’s care for your opportunities to progress  

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.  

Let’s care for life’s twists and turns  

From our support for flexible working, health, and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach.   We ’ ve got your back.  

Let’s care for our society and our planet  

With opportunities to be engaged in shaping a future that is safe, inclusive, and sustainable, we care for the tomorrows of our people, our industry, and our clients.  

Care to join us?  

Allianz Commercial (AzC) is a global corporate insurance carrier and part of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business.   Learn more about us by clicking here .  

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation, or any other protected characteristic.   Diversity of thinking is an important part of our company culture.  

Recruitment Agencies:  

AzC has an in-house recruitment team, which focuses on sourcing great candidates directly.   AzC does not accept unsolicited resumes from agency or search firm recruiters.   Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired.   When we do use agencies, we have a PSL in place, so please do not contact managers directly.