Underwriting Manager

Munich Re Group•Princeton, NJ

About The Position

The Underwriting Manager is responsible for management of the US based underwriting team who, in conjunction with the rest of the Managed Underwriting team located in the UK, are responsible for the management and oversight of the delegated portfolio. This role incorporates underwriting and portfolio management, people management, and coverholder relationship management across a substantial book of US binding authority business comprising multiple lines and perils. The ideal candidate is an experienced underwriting management level professional with strong analytical, leadership, and relationship-management capabilities.

Requirements

Extensive experience in Property/Casualty underwriting or underwriting management, preferably with an insurance carrier or wholesale broker.
Strong background in Property, Personal Lines, and small Commercial Casualty business.
Surplus Lines experience required; knowledge of WSIA members preferred.
Strong competency in insurance coverage forms—ISO required; Lloyd's and manuscript forms would be beneficial.
Experience reviewing and auditing underwriting files and managing staff who perform these functions.
Computer proficiency in Outlook, Word, Excel; Power BI and PowerPoint experience preferred.
Excellent verbal and written communication skills.
Highly organized, independent, and able to manage multiple responsibilities with minimal supervision.
Strong relationship-building, negotiation, and marketing skills.
Traveling responsibilities: approximately 30%.

Nice To Haves

Insurance designations (e.g., CPCU, AU, RPLU) are a plus.
Familiarity with regulatory and licensing requirements is beneficial.

Responsibilities

Work with the CUO and Head of Delegated Underwriting to support the US based team towards successful execution of our underwriting strategy and plan, in accordance with applicable underwriting authority levels, underwriting guidelines, internal directives, and client strategies.
Manage and steer underwriting results for the applicable segments of the portfolio, utilizing MI and KPIs to critically analyze and evaluate the business - including review of production, loss experience, exposure, rate adequacy, and pricing discipline.
Manage and underwrite individual account referrals where necessary, and provide risk referral support and peer review for the US-based team.
Assess and refine underwriting guidelines, pricing models, and program performance metrics in collaboration and alignment with the rest of the Binding Authorities Underwriting teams and with Corporate Underwriting, where necessary.
Manage CAT budget allocations and related economic analysis for the applicable segments of the portfolio, including premium projections and rate management against cost of capital.
Review and approve contractual documentation and coverage forms.
Stay current on external market trends and report internally to various stakeholders within Munich Re Specialty - North America.
Collaborate with and actively participate on any cross-functional committees across Munich Re Specialty - North America.
Manage coverholder oversight, including relationship management, operational reviews, audits, and due diligence.
Conduct customer visits, marketing travel, and support team members in managing their travel schedules.
Conduct policy and underwriting file reviews to ensure accuracy, consistency, and adherence to standards.
Ensure coverholders adhere to underwriting standards, regulatory requirements, and program guidelines.
Take a prominent role in developing and overseeing new and existing business relationships.
Work closely with IT, Accounting, Claims, and other internal functions to resolve technical, operational, and system-related issues.
Participate in the development and improvement of underwriting systems, processes, and tools and provide guidance and support to US-based underwriters in their implementation and use.
Ensure compliance with regulatory, licensing, and internal governance requirements.
Provide leadership and direction to the underwriting team, including recruitment, hiring, training, performance management, and professional development.
Oversee staff performance and address personnel matters, including coaching, mentoring, and corrective action when necessary.
Foster a high-performance, collaborative culture that emphasizes accountability and excellence, as well as ensuring close collaboration with the UK-based Managed Underwriting team and other UK-based functions.

Benefits

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.
Additional insurance coverages provided at no cost to you, such as 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.