Head of Property Underwriting

Munich Re•Atlanta, GA

1d•$246,200 - $400,000•Remote

About The Position

As a key member of the Global Specialty Insurance (GSI) Corporate Underwriting team, the Head of GSI Property Underwriting assumes a strategic role in providing a portfolio level view of the component Property risks that make up the global primary insurance portfolio. It is a second line of defense ensuring the quality of underwriting throughout GSI and execution of GSI Underwriting strategies. The focus will be on consistent views of risk across the local underwriting teams in the Entrepreneurial Business Units to support long-term profitability of the Property portfolio.

Requirements

In-depth knowledge of Insurance Underwriting practices and procedures, skill in analyzing qualitative and quantitative data and decision making capability.
Minimum of 10 years of Property Underwriting of primary business
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
Excellent presentation skills
Willingness to travel (up to 35% - 45%).

Nice To Haves

advanced degree a plus.
CPCU, ARe designations preferred.

Responsibilities

Setting the overall GSI Property Underwriting strategy, guidelines and risk management approaches.
Oversight of GSI specific underwriting strategies and guidelines through the GSI Underwriting teams.
Response to industry trends and their impacts on GSI portfolio results: when industry, regulatory and Claims events and trends are identified, coordinate consistent Underwriting response in terms of policy language, underwriting decisions, portfolio management etc.
Implementation of the Global Property 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.
Thought leadership on Property topics, and leadership of Property Underwriting Roundtable. Support emerging risk analysis and cross platform initiatives with Property expertise. Evaluate Property Underwriting training needs, ensure needed underwriting training within GSI is conducted and contribute to Group training initiatives.
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 Property 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 Property segments which contribute to GSI entities making better underwriting decisions and are consistent with Munich Re’s overall approach.
Leading 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 practice, promote consistency.
Ensuring that the guidance provided by CU Munich , with respect to Property lines of business, is well understood throughout GSI; participate in Expert Groups, relevant CU boards, 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.
Periodic assessment of Property accumulations across all GSI entities to inform GSI Underwriting Strategy and proactive portfolio management.
Coordination of budget requests to ensure the highest return opportunities are priority. In instances where model variation introduces ambiguity, reconcile differences and agreements.

Benefits

health insurance coverage
employee wellness program
life and disability insurance
401k match
retirement savings plan
paid holidays
paid time off (PTO)
Two options for your health insurance plan (PPO or High Deductible).
Prescription drug coverage (included in your health insurance plan).
Vision and dental insurance plans.
basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
Short and Long Term Disability coverage.
Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).
A robust 401k plan with up to a 5% employer match
A retirement savings plan that is 100% company funded.
Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
Eligibility to receive a yearly bonus as a Munich Re employee.
A variety of health and wellness programs provided at no cost.
Paid time off for eligible family care needs.
Tuition assistance and educational achievement bonuses.
A corporate matching gifts program that further enhances your charitable donation.
Paid time off to volunteer in your community.