Underwriting Manager - Miscellaneous Medical & Life Sciences

BEAZLEY USA SERVICES•Chicago, IL

42d•$150,000 - $200,000

About The Position

To underwrite a Miscellaneous Medical account within the Healthcare team and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand. Manage a team of underwriters.

Requirements

Proficient underwriting skills
Accurate and numerate
Computer skills - good working knowledge of MS Office, advanced Excel skills
Strong analytical skills with attention to detail
Able to communicate effectively with others, both verbally and in writing
Ability to manage time, meet deadlines and prioritise
Motivational skills
People management skills
General commercial and financial knowledge
Experience in insurance industry
Experience of Miscellaneous Medical underwriting
Thorough knowledge of underwriting policy, philosophy and practice
Advanced knowledge of underwriting processes and systems
Client service experience
Result focused, self-motivated, flexible and enthusiastic
Professional approach to interact successfully with managers/colleagues/external suppliers
Team worker as well as able to work on own initiative
Customer focused, with a strong ethic of service and fairness to the customer

Responsibilities

Develop and oversee the underwriting of a profitable Miscellaneous Medical portfolio with a focus on the West Coast.
Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing business, whilst working with direct reports to assist them to do the same.
Monitor premiums, costs and claims ratios throughout the portfolio and take corrective measures if necessary to ensure long term profitability.
Monitor underwriters in their daily work to ensure profitability as well as efficient and cost-effective administration of the account.
Work closely with claims managers to ensure team are aware of profitability and claims trends.
Develop and underwrite a profitable portfolio of Miscellaneous Medical business as part of the Healthcare team.
Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the Miscellaneous Medical team, Healthcare and Specialty Risks.
Comply with Beazley's underwriting control standards for business written through Lloyd's, Beazley Insurance Company Inc or Beazley's internal MGAs.
Advise, assist and service clients on insurance and risk matters to ensure clients' satisfaction.
Foster positive relationships with clients to get a mutual understanding of both their and Beazley's needs.
Maintenance of good business relationships with brokers.
Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.
Provide leadership, direction and support to the team.
Foster a spirit of inclusion, teamwork and unity that reflects Beazley's overall workplace culture, values and appreciation of the benefits of diversity.
Act as a manager, mentor and coach to direct reports to enable them to fulfil their potential and ensure continuous development of them and their wider team.
Ensure direct reports are supported in contributing to the delivery and achievement of the overall team and business objectives.
Provide effective performance feedback on a regular basis, ensuring employees are recognised and rewarded for their contribution.
Conversely, providing timely feedback to address poor performance, taking disciplinary action as appropriate.
Maintain transparent and effective communication through department meetings, one-to-one meetings, email etc.
Encourage knowledge sharing and effective delegation to minimise key person dependencies.
Work with other team managers ensuring team resources overall are effectively utilised and people are appropriately challenged.
Encourage direct reports to think proactively about their careers, signposting development and stretch opportunities for strong performers where possible.
Work with People & Sustainability as appropriate to escalate performance concerns ensuring set objectives are clear and measurable and progress is tracked accordingly.
Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
Develop best practice and disseminate business and class knowledge within the Healthcare and Specialty Risks team.
Work with peers within Healthcare and Specialty Risks to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
Production of presentations and marketing literature as required.
Production of business plans/research documents for the Miscellaneous Medical account as required.
Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates FCA and PRA Conduct
Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
Display business ethics that uphold the interests of all our customers
Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley's underwriting control standards, Beazley's claims control standards, other Beazley standards and customer relationship management
Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups

Benefits

Attractive base compensation and discretionary performance related bonus
Competitively priced medical, dental and vision insurance
Company paid life, and short- and long-term disability insurance
401(k) plan with 5% company match and immediate vesting
22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs
Up to $700 reimbursement for home office setup
Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
Up to 26 weeks of fully paid parental leave
Up to 2.5 days paid annually for volunteering at a charity of your choice
Flexible working policy, trusting our employees to do what works best for them and their teams