Senior Reinsurance Underwriter

Nationwide

 

This is an exciting entrepreneurial opportunity for a professional reinsurance deal maker to help grow and develop our reinsurance division. The leader will join a dynamic team of insurance professionals who focus on: product knowledge, technical skills, long-term market relationships, creativity, and responsiveness. ICW is already an industry leading company in our primary operation, and our reinsurance division is set to continue this excellence. With support from the team the leader will build, manage and monitor a profitable book of assumed reinsurance business.

We are interested in candidates with both 7-15 and 15+ years of reinsurance experience, with some combination of: underwriting, actuarial or brokering. Candidate must have strong analytical, quantitative, marketing and deal making skills, and the ability to work in a fast-paced, entrepreneurial environment. If you want to take ownership, underwrite deals and build something special, apply today!

*Flexible job location with San Diego preferred.

PURPOSE OF THE JOB

The purpose of this job is to write profitable assumed reinsurance business within an industry leading insurance company. Given the diverse portfolio of business ICW reinsures, this position requires deep reinsurance underwriting experience in at least one of the following: property, casualty and specialty lines. This role is expected to help further grow the ICW assumed book of business and enhance competitive advantage.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Manages business development, growth and profitability of individual books of business.

  • Owns the entire underwriting and account management process for all individually produced accounts working closely with other departments including Actuarial, Accounting, and Enterprise Risk Management (ERM).
  • Produces and underwrites profitable business opportunities according to the ICWs business plan.
  • Evaluates treaty terms, structures and pricing together with Actuarial, Accounting, Legal, ERM to achieve corporate targets and comply with underwriting guidelines.
  • Enters assumed reinsurance accounts within the reinsurance underwriting and accounting platform (TIRS) in a timely manner.
  • Collaborates with the team on managing geographical and by line of business aggregations.
  • Provides documentation for any exceptions to established guidelines and critical account information relating to the final underwriting decision.
  • Analyzes contract language and wordings and verifies coverage eligibility.
  • Provides technical assistance to internal customers regarding coverage interpretations, policy and endorsement provisions.
  • Completes peer reviews of select reinsurance treaties.
  • Participates in team underwriting select reinsurance treaties.

Develops marketing and relationships and prospects new business targets and opportunities.

  • Produces, builds and maintains broker and client relationships.
  • Continually evaluates and executes the ICW value proposition when soliciting and developing assumed treaty opportunities.
  • Creates new business opportunities and improves accounts renewal retention by visiting clients, auditing cedants, and building relationships with reinsurance brokers.
  • Participates in industry marketing events which may include overnight and/or out-of-state travel.
  • Communicates effectively via phone calls and email to gather and analyze necessary information critical to the assumed reinsurance underwriting process.
  • Provides feedback gathered from marketing activities to management.
  • Demonstrates an attitude of innovation when developing, seeking and marketing new products and structures.

Leads and participates on critical projects or initiatives.

  • Performs complex analysis of data and prepares reports for management on reinsurance objectives and programs.
  • Gathers pertinent competitive and market information to assist in developing recommendations to evaluating new lines of business and product development.
  • Assists with portfolio planning and management.
  • Maintains underwriting quality standards.
  • Mentors and trains professional and support staff.
  • Participates in underwriting and production presentations for internal and external customers.

SUPERVISORY RESPONSIBILITIES

This position has no supervisory responsibilities, but may mentor and/or train other team members.

EDUCATION AND EXPERIENCE

Bachelor's degree from four-year college or university required with a major or emphasis in Mathematics, Finance, Accounting, Data Science, or related field coupled with the completion of a (re)insurance related designation (e.g., Chartered Property Casualty Underwriter (CPCU), Associate in Reinsurance (ARe)). Minimum 7 10 years of reinsurance market experience involving underwriting. Experience in other industry roles including primary insurance underwriting and reinsurance broking preferred.

CERTIFICATES, LICENSES, REGISTRATIONS

Reinsurance designation required (e.g. Chartered Property Casualty Underwriter (CPCU), Associate in Reinsurance (ARe). Valid Drivers License from local state authority required.

KNOWLEDGE AND SKILLS

Possess a proven track record as a reinsurance business generator. Demonstrates solid and in depth knowledge of multiple casualty lines of business. Familiarity with and willingness to develop a deeper understanding of specialty classes of business (e.g., cyber, marine). Knowledge of risk transfer and reinsurance principles, typical contract construction and key articles thereof. Working knowledge of actuarial and financial mathematics used in modeling and measuring risk and reward of reinsurance structures. Proficient with catastrophe modeling platforms and software a plus. Highly skilled at analytical and conceptual thinking. Strong work ethics, excellent interpersonal and teamwork skills. Demonstrated ability to present complex data/information to varied audiences. Proven organizational, analytical, and time management skills. Reputable ability to negotiate, influence and close deals. Commitment to meeting deadlines and the ability to work on occasional weekends if required

PHYSICAL REQUIREMENTS

Office environment no specific or unusual physical or environmental demands and employees are regularly required to sit, walk, stand, talk, and hear. Requires travel, usually limited to automobile but occasional air travel is required.

COMPETENCIES

This position maps to the Individual Contributor level.

WORK ENVIRONMENT

This position operates in an office environment and requires the frequent use of a computer, telephone, copier, and other standard office equipment. Travel may be required 20%-30% of the time.

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