Underwriting Specialist - Inland Marine at Allianz Global Corporate & Specialty SE

Chicago, Illinois, United States -

Full Time

Start Date

Immediate

Expiry Date

11 Jan, 26

Salary

161017.0

Posted On

13 Oct, 25

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Underwriting, Negotiation, Risk Assessment, Catastrophe Modelling, Policy Administration, Relationship Management, Training, Coaching, Data Analysis, Insurance Markets, Legal Framework, Communication, AI Tools, Financial Analysis, Portfolio Management, Market Management

Industry

Financial Services

Description

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. Your Team Allianz Commercial (AzC) is one of the largest marine insurers in the world and is a leader in inland marine insurance and related property coverage across North America and various worldwide locations. With a depth and breadth of marine capabilities that are unmatched in the industry. Allianz offers a broad portfolio of highly customizable products and an almost unlimited appetite for complex marine accounts that demand innovative solutions. Our Inland Marine and Related Property Insurance solutions cover over 100 classes of business, covering all aspects of moving or movable property. Whether it's a building under construction or a shipment of an original Picasso, our inland marine insurance underwriters provide flexible and creative solutions for the most challenging of inland marine exposures. The Impact You Will Have Reporting to the Senior Underwriting Team Lead Midwest, this position will underwrite profitable new and renewal business to meet the inland marine line of business targets regionally including global elements. Ownership of large accounts/clients including negotiation of participation, pricing and terms and conditions. Training and development of team and referral point for underwriters. Develop and maintain strong relationships with brokers and clients. Specialized technical expertise/lead for at least one sub-line of business. Some of your specific responsibilities could include: 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 (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. Contribute to development and execution of regional Underwriting strategy for LoB regionally. Training, developing and coaching of less experienced staff (including Underwriters). Manage complex referrals from underwriters and spokes and re-underwrite complex business as appropriate. Delegate work as appropriate. 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). What You’ll Bring to the Role – 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, including global elements. Recognized relationships with brokers at peer group level and well established within market Ideal candidate will have worked as an underwriter or account executive and be well versed in multiple inland marine products such as construction, transportation, miscellaneous coverages, and property (i.e., builder’s risk, contractor’s equipment, motortruck cargo, physical damage, mono line property for small to medium risks, and scheduled property floaters). 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. And completion of a professional insurance qualification. Ability to assess risk inherent exposures and natural hazards relevant to LoB. Analyze current performance against various benchmarks applying how the market operates and functions, the business needs and customer needs. Design, develop and implement consistent, robust wordings. Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation. 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 of general office application tools (i.e. PowerPoint, Excel, Word). 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. The annualized base pay range for this role is $103,461 - $161,017. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by several factors, including the scope, complexity and location of the role, the skills, education, training, credentials, and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards. 81876 | Underwriting | Professional | Allianz Commercial | Full-Time | Permanent What’s in it for you? Let’s care about everything that makes you, you We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us. Let’s care for your financial wellbeing We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension. Let’s care for your opportunities to progress From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered. Let’s care for life’s twists and turns From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back. Let’s care for our society and our planet With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients. Care to join us? Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead. Learn more about careers at Allianz Commercial by clicking here. Learn more about Allianz Commercial by clicking here. At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust. We therefore welcome applications regardless of race, ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations. Join us. Let's care for tomorrow. People with disabilities: We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com Recruitment Agencies: Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm.Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly. Failure to comply could/may result in the disqualification of the candidates and/or the termination of our contract and/or fees not being paid. #LI-DNI #LI-Hybrid

Responsibilities

The Underwriting Specialist will underwrite profitable new and renewal business for the inland marine line of business, managing large accounts and negotiating terms. This role also involves training and developing team members while maintaining strong relationships with brokers and clients.