What are the responsibilities and job description for the Senior Underwriter - Life Sciences position at Munich RE?
Senior Underwriter - Life Sciences
Company
Munich Re Specialty - North America
Location
Chicago , United States
Senior Underwriter - Life Sciences
The Company is open to considering candidates in Atlanta, GA; Philadelphia, PA; New York City, NY; and Chicago, IL.
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!
We are seeking to add an experienced Senior Underwriter to help support the launch for our new Life Science product. As a Senior Underwriter for Life Science, you'll be responsible for assisting the Underwriting Manager to build and execute a products and professional liability solution in support of the U.S. Life Science industry.
Responsibilities :
Help drive the product development, strategy, and production for Life Science products, as well as the retention and growth of profitable Life Science industry business.
Attract, manage and mentor a team of underwriters, providing guidance and support.
Assist with the distribution strategy by cultivating new and existing broker relationships that includes development and execution of production strategies and business plans to implement and maximize growth objectives and rate goals.
Develop and execute the Underwriting strategy and appetite
Measure and optimize portfolio progress by reviewing and analyzing underwriting data and monitoring industry best practices to identify opportunities for continuous improvement
Underwrite, market, quote, bind and retain a profitable book of excess and surplus lines and admitted business that meets profitability and growth targets.
Operate within granted authority and make referrals to underwriting leadership as appropriate.
In conjunction with the Underwriting Manager, develop and execute production strategies and business plans to implement and maximize growth objectives and rate goals.
Cultivate and maintain strong relationships with brokers and insured parties across the U.S.
Coordination with other Munich Re business units is expected and encouraged to offer the best holistic solutions to our clients.
Collaborate with cross-functional teams to ensure alignment and execution of business objective
Assistance in day to day operations and projects as assigned which could have client, business group, divisional and corporate impact.
Assist in maintaining Underwriting governance across the team
Represent the Munich Re brand and Munich Re Specialty Insurance at client events, seminars, meetings, etc.
Qualifications
Advanced working knowledge Life Science products and pricing, UW processes and procedures, laws and regulations, strategic planning, and relevant industry trends that have been developed in 10 years of experience
Experience in managing a P&L
Experience with attracting, motivating, organizing and driving underwriters toward a mutual goal
Excellent underwriting, marketing and analytical skills that have been developed in 7 years of experience
Be in demand by the distribution system.
Successful track record of developing and maintaining strong relationships with brokers
Ability to think strategically and function tactically
Strong ability to lead, manage and effectively influence peers.
Exceptional communication skills that energize and engage brokers, clients and colleagues and the ability to convey a vision and client-focused solutions
Ability to present and negotiate complex agreements with brokers and internal stakeholders, as well as develop and maintain strong relationships
Effective time management and organizational skills
Tech savviness and a willingness to experiment with and learn new technologies
Willingness to travel up to 30%
The Company is open to considering candidates in numerous locations, including NYC and Chicago. The salary range posted below reflects market variations across various locations. This role is designated for either Chicago or NYC and reflects multiple geographies. The offer will be adjusted per geography.
The base salary range anticipated for this position is $174,200 - $290,300 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.
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Salary : $174,200 - $290,300
