Underwriting Specialist, Package

Arch Capital Group • Chicago, IL

77d • $133,753 - $180,959 • Hybrid

About The Position

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility. The position involves underwriting profitable new and renewal business to meet Line of Business (LoB) targets regionally, including global elements. The role includes ownership of large accounts/clients, negotiation of participation, pricing, and terms and conditions, as well as being a training and development resource for Underwriters & Senior Underwriters. The candidate will develop and maintain strong relationships with brokers and clients and will have specialized technical expertise in at least one sub-LoB, Industry, or Product Line such as General Liability, Umbrella, Commercial Auto, Commercial Property, or Workers Compensation.

Requirements

• A minimum of 5+ years of Commercial Property & Casualty Underwriting experience. Middle-market experience is preferred
• Recognized established relationships with brokers at peer group level and within market
• Specialized understanding of regional / local insurance markets and competitor landscape
• Good understanding of legal and regulatory framework
• Undergraduate degree required. Economics, Finance, Insurance Management, or Business Administration is preferred
• Completion of professional insurance qualification (e.g. CPCU) is preferred

Responsibilities

• Manage assigned broker portfolio of accounts to achieve efficient returns of profitability and growth
• 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 modeling and interpretation of scenarios
• Specialist / Technical Expert in Product Line within Middle Market Business
• Underwrite in line with LoB governance framework
• Ensure placing and binding of FAC Reinsurance prior to policy inception
• File maintenance - ensure file is established and maintained for each risk and transaction handled
• Proactively develop relationships with brokers and agents assigned within the territory
• Acquisition of new business and retention of existing business including client and broker negotiations
• Training, developing and coaching of less experienced staff
• Manage complex referrals from underwriters and spokes and re-underwrite complex business as appropriate
• Delegate work as appropriate
• Positively represent Arch externally to the market
• Proactively drive involvement of functional areas in Underwriting process
• Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders

Benefits

• $133,753 - $180,959/year base salary range
• Incentive eligibility
• Total individual compensation includes base salary, short & long-term incentives

What This Job Offers

• Industry: Insurance Carriers and Related Activities
• Education Level: Bachelor's degree