Underwriter - Cargo

Allianz Insurance•New York, NY

8d•$85,000 - $110,000•Hybrid

About The Position

We are looking for an Underwriter to support our Cargo line of business. If you have proven track record of underwriting international transit, stock through-put, project cargo (including delay in start-up) and tailored coverages, this position is for you. This position will work a hybrid scheduled based in the New York City office. Cargo insurance for large businesses is a type of insurance that protects businesses from financial losses resulting from the damage, loss, or theft of their cargo while in transit. This type of insurance is essential for large businesses that ship large quantities of goods, as it can help to offset the costs of replacing or repairing damaged or lost cargo. With one of the largest, most experienced networks of cargo insurance specialists, claims experts and risk consultants in the business, Allianz Commercial delivers local solutions for marine cargo risks in more than 200 countries and territories.

Requirements

A minimum 1 to 3 years’ proven track record in Underwriting profitable Marine Ocean Cargo business in LoB.
Understanding of LoB products and portfolio.
Good understanding of regional / local LoB insurance markets and competitor landscape.
Understanding of legal and regulatory framework.
Demonstrable, established relationships with brokers at peer group level.
Experience working in complex, global matrix organization.
Ability to assess risk inherent exposures and natural hazards relevant to this Lob.
Manage the underwriting books.
Analyze trends and scenario plans from which portfolio strategies can be developed and implemented.
Analyze current performance against various benchmarks with a view to ensure adequate progress and satisfactory performance.
Apply the knowledge of how the market operates and functions, the business needs and customer needs.
Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire.
Ability to express ideas and messages clearly, both written and verbally.
Ability to "sell" an improvised or prepared audience winning story.
Ability to persuade and motivate others to act, without executive authority.
Use general office application tools e.g. Power Point, Excel, Word.
External applicants must be legally authorized to work in the United States without the need for current or future employment-based sponsorship. We are unable to sponsor or take over sponsorship of employment visas at this time, nor can we guarantee future sponsorship.

Nice To Haves

Preferably a bachelor’s degree in Risk Management, Insurance, Business Administration, Finance, Economics, Law, or other appropriate discipline.
Progress towards or completion of a professional insurance qualification.
The ability to utilize AI tools to support day-today tasks, improve efficiency, and contribute to data-driven decision-making is valuable.
A willingness to learn and explore how AI can enhance your role and the broader organization is expected.

Responsibilities

Underwrite profitable new and renewal business to meet LoB targets in accordance with underwriting guidelines and underwriting authority.
Negotiate price and terms and conditions.
Ownership of key accounts / clients.
Develop and maintain strong relationships with producers and clients in partnership with Market Management.
Underwrite new and renewal accounts to meet top and bottom line targets.
Negotiate price and terms and conditions with key producer partners.
Proactively manage capacity.
Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modeling and interpretation of scenarios (for relevant LoBs).
Underwrite International Insurance Programs (for relevant LoBs).
Underwrite in line with LoB governance framework - e.g. Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles.
Ensure contract certainty is achieved on all accounts at time of inception.
Ensure utilization of global pricing tools.
Ensure placing and binding of FAC Reinsurance prior to policy inception.
Ensure accurate policy documentation issued to producers (where AzC responsibility to do so) or producers has issued documentation (where producer responsibility).
File maintenance – ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled.
Proactively support completion of policy administration and credit control processes.
Proactively support acquisition of new business and retention of existing business (including client and producer negotiations where necessary).
Proactively liaise with MMC on market management initiatives.
Positively represent AzC externally to the market.
Proactively drive involvement of functional areas in Underwriting process, including e.g. MMC, ARC, Claims, Operations.
Develop and maintain strong relationships with key producers and clients and other relevant stakeholders (e.g. risk managers).