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Underwriting Officer Life Sciences IronHealth

Employer
Liberty Mutual Insurance
Location
Chicago, Illinois
Salary
Not Specified
Closing date
May 7, 2019

View more

Category
Claims, Health and Medical
Job Type
Not Specified
Career Level
Not Specified

Job Details

Advance your Underwriting career at Ironshore, a subsidiary of Liberty Mutual Insurance - A Fortune 100 Company!

 

Ironshore is expanding its Life Sciences team and is looking for an experienced insurance leader in the Life Sciences product liability area. IronHealth Life Sciences handles product liability, errors and omissions, and general liability coverage over a wide spectrum of life sciences specialty areas - pharmaceuticals, medical device, biotechnology, clinical trials, CROs/SMOs, OTC and nutraceutical risks. We foster underwriter judgment and emphasize local decision making. This is an excellent opportunity for a talented underwriter with life sciences expertise, confidence and deal orientation. The ideal person has advanced knowledge in the arena with at least 5 years of Life Sciences experience, strong industry contacts and the ability to work individually and in a collaborative manner. Candidate must be a self-starter and able to contribute to the advancement of the book and the team.

 

The person in this position will be experienced in dealing with this highly technical line of business and its specialized brokers, claims and risk management.

 

Responsibilities: 

 

  • Develops and maintains highly effective business relationships with assigned agents and brokers in order to attract, develop/grow and retain profitable business in the assigned territory.
  • Evaluates a prospect's/renewal's exposure, financial standing, operational strategy, and industry trends to determine whether to proceed with an account, and if so, under what terms and conditions.
  • Performs a hazard analysis by combining knowledge and experience with available information on the prospect's/renewal's and its industry, and where appropriate, collaborates with experienced underwriters and other departments to evaluate a prospect's/renewal's potential exposure to loss.
  • Applies understanding of insurance with the hazards identified for the customer to assess the customer/broker request and determine acceptable coverage grants by line of business that address the customer's critical insurance and service needs.
  • Using assessments of the prospect's/renewal's operations and anticipated hazards, losses (primary & excess), and expenses (service requirements), applies knowledge of pricing tools, manual rates, rating plans, and reinsurance, develops a price for each coverage and rating plan option under life sciences that meets or exceeds target returns, and has accountability and ownership of account pricing recommendations.
  • Given the customer/broker request, the hazard, coverage, and loss analyses, and the competitive situation, recommends program structures (coverage, limits/retention, rating plan/pricing, and billing combinations) achieving desired Business Unit goals, including long term profitability.
  • Drives development of the business plan for the product for the region of responsibility reflective of a very competitive environment.
  • Completes all required steps on documentation and account management.
  • Communicates and collaborates across the organization - such as Claims, Product Management

Qualifications:

  • The ideal candidate is a highly knowledgeable and disciplined underwriter with experience managing life sciences risks across multiple risk classes, and with a track record of growing a book of business that performs well over the long term.
  • Excellent knowledge of commercial insurance coverages, contracts and underwriting guidelines required. A bachelor's degree or equivalent training with 5+ years of relevant and progressively more responsible production underwriting experience within the specialty focus of Life Sciences are necessary. Specific experience in products/completed operations, errors and omissions and general liability coverages required. Experience in premises/ongoing operations, workers' compensation, auto, cyber and/or property coverage for life sciences entities distinguishes the candidate

  • Requires an advanced knowledge of Life Sciences underwriting concepts, practices, procedures and techniques, including, but not limited to coverage issues, product lines, marketing, and competition within the marketplace. 
  • Ability to make sound business decisions based upon a mixture of analysis, wisdom, experience, and judgment.
  • Strong communication and influencing skills to build immediate credibility, both internally and externally; an ability to present effectively to a wide range of audiences; attention to detail is critical.
  • Ability to negotiate skillfully in tough situations
  • Ability to hit the ground running, build and manage a large submission flow with the goal of writing and retaining profitable business. Strong work ethic, reliable, consistent and being a team player a must.
  • The individual hired for this position must have a solid market reputation with the ability to effectively interact with brokers and internal departments
  • Energy, organizational skills, and strong verbal and written communications are necessary. Additionally, the candidate must have strong negotiation, policy wording, analytical and decision making skills. Underwriting discipline and integrity is paramount. We write to a profitable bottom line.
  • Insurance specific designations (e.g. CPCU, CIC) desired
  Benefits:   We value your hard work, integrity and commitment to positive change. In return for your service, it's our privilege to offer you benefits and rewards that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits

 

Overview: 

At Liberty Mutual, we give motivated, accomplished professionals the opportunity to help us redefine what insurance means; to work for a global leader with a deep sense of humanity and a focus on improving and protecting everyday lives.  We create an inspired, collaborative environment, where people can take ownership of their work; push breakthrough ideas; and feel confident that their contributions will be valued and their growth championed.

 

We're dedicated to doing the right thing for our employees, because we know that their fulfillment and success leads us to great places. Life. Happiness. Innovation. Impact. Advancement. Whatever their pursuit, talented people find their path at Liberty Mutual.

 

 

Company

When people have a sense of security, they are free to relax, venture out, and live their lives. This is the feeling Liberty Mutual brings to the world every day. Founded in 1912, we are a global leader in property and casualty insurance, focused on protecting and preserving the lives and dreams of customers in more than 30 countries. With over 50,000 employees throughout the world, we offer you the chance to work for an evolving, growing company with a deep sense of humanity and a commitment to diversity and philanthropy. Join our team and go to work knowing that what you do matters. Because really it does.

 

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