Underwriting Specialist - Inland Marine

AZGROUPPROD • Chicago, IL

115d • $103,461 - $161,017

About The Position

At Allianz Commercial (AzC), we are the global leader for insuring corporate and specialty risks in the Allianz Group. Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks, or climate change impacts, AzC has the major risks covered when it comes to protecting businesses. We are looking for an Underwriting Specialist for our Inland Marine line of business. This role will work a hybrid schedule based in our Chicago, Illinois office.

Requirements

• A minimum 5 years’ significant experience in underwriting profitable inland marine business.
• Specialized expert understanding of sub-LoB products and portfolio.
• Specialized understanding of regional/local LoB insurance markets and competitor landscape.
• Recognized relationships with brokers at peer group level.
• Ideal candidate will have worked as an underwriter or account executive and be well versed in multiple inland marine products.
• Good understanding of legal and regulatory framework.
• Experience working in complex, global matrix organization.
• Preferably a bachelor’s degree in Risk Management, Insurance, Business Administration, Finance or Economics.
• Ability to assess risk inherent exposures and natural hazards relevant to LoB.
• Ability to analyze highly complex data from multiple sources.
• Ability to express ideas and messages clearly, both written and verbally.
• Use of general office application tools (i.e. PowerPoint, Excel, Word).
• The ability to utilize AI tools to support day-to-day tasks.

Nice To Haves

• Completion of a professional insurance qualification.

Responsibilities

• Underwrite new and renewal accounts to meet top and bottom-line targets.
• Negotiate price and terms and conditions with producers.
• Proactively manage capacity.
• Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios.
• Underwrite International Insurance Programs.
• 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.
• File maintenance – ensure file is established and maintained for each risk and transaction handled.
• Proactively support completion of policy administration and credit control processes.
• Contribute to development and execution of regional Underwriting strategy.
• Training, developing and coaching of less experienced staff.
• Manage complex referrals from underwriters and spokes.
• Proactively support acquisition of new business and retention of existing business.
• Positively represent AzC externally to the market.
• Develop and maintain strong relationships with key producers and clients.

Benefits

• Generous bonus scheme and pension.
• Flexible working arrangements.
• Health and wellbeing support including private healthcare and generous parental leave benefits.
• Opportunities for career development and digital learning programs.
• Support for returning from career breaks.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees