Life Sciences Production Underwriting Specialist

Location
Chicago, Illinois
Salary
Not Specified
Posted
Nov 19, 2020
Closes
Jan 18, 2021
Ref
78220174#GIJ--LibertyMutual.1
Job Type
Not Specified
Career Level
Not Specified

A little about us

At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. Thats why we provide an environment focused on openness, inclusion, trust and respect. Here, youll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession.

Liberty Mutual has proudly been recognized as a Great Place to Work by Great Place to Work US for the past several years. We were also named by Forbes as one of Americas Best Employers for Women and one of Americas Best Employers for New Graduatesas well as one of Americas Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: https://jobs.libertymutualgroup.com/diversity-inclusion

We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits

Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veterans status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.

Ironshore is expanding its Life Sciences team and is looking for an experienced insurance production specialist in the Life Sciences product liability area, where we foster professional development and emphasize individual accountability. IronHealth Life Sciences handles product liability, errors and omissions, and general liability coverages over a wide spectrum of life sciences specialty areas pharmaceuticals, medical device, biotechnology, clinical trials, CROs/SMOs, OTC and nutraceutical risks. This is an excellent opportunity for a talented underwriter with life sciences expertise and underwriting skills, such as attention to details, multi-tasking, creativity, broker negotiations and sales. These skills will contribute to the growth of the book and development of existing regions. The ideal person has advanced knowledge in the arena with at least 3 years of Life Sciences experience, strong industry contacts and the ability to work both individually and collaboratively. Candidate must be a self-starter with the skills necessary to work remote and ability to travel 2-3 times per month.

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

Responsibilities:

  • Develops and maintains highly effective business relationships with assigned agents, brokers and insureds.
  • Evaluates an accounts exposure, financial standing, operational strategy, and industry trends to determine how to proceed with an account and under what terms, conditions and pricing.
  • Performs a hazard analysis by combining knowledge and experience with available information on an account and its industry, and where appropriate, collaborates with experienced underwriters and other departments to evaluate an accounts potential exposure to loss.
  • Applies cost/benefit analysis against a customer/broker request to determine acceptable coverage grants that address the customer's critical insurance and service needs while balancing against the companys overall performance.
  • Assess an accounts operations and appling knowledge of pricing tools, manual rates, rating plans, program structure and reinsurance, develops program structure and price for each coverage that meets or exceeds target returns and business objectives and has accountability and ownership of said program/pricing recommendations.
  • Drives development and growth for the region of responsibility
  • Completes all required steps on documentation and account management and follows appropriate referral guidelines as required
  • Communicates and collaborates within own team and across the organization, inclusive of Claims, Chief Underwriting Officer, other Ironhealth counterparts and Liberty mutual distribution

  • Bachelor's degree or advanced degree or equivalent;
  • 6+ years underwriting experience.
  • Requires advanced knowledge of underwriting concepts, practices, and procedures.
  • At least 2 years experience underwriting highly technical risks.
  • The ability to effectively interact with brokers and internal departments.
  • Strong verbal and written communications skills.
  • Strong negotiation, analytical, and decision making skills are also required.
  • Demonstrated strategic and marketing capabilities.

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