Executive Underwriter - Architects and Engineers E&O

Professional

New York, NY, US, 10005 Chicago, IL, US, 60606

Underwriting

Allianz Commercial

Allianz Global Risks US Insurance Compan

Full-Time

Hybrid working

Permanent

26716

Executive Underwriter - Architects and Engineers E&O

Let’s care for tomorrow.

Your ambitions. Your dreams. Your tomorrow

At Allianz Commercial we are the global leader for insuring corporate and specialty risks in the Allianz Group. Whether it’s aircraft, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, Allianz Commercial has the major risks covered when it comes to protecting businesses.

Allianz has an immediate opening for an experienced Architects and Engineers Professional Liability Executive Underwriter in the New York or Chicago office

The Impact You Will Have:

• Underwrite profitable new and renewal business to meet LoB(s) targets in accordance with underwriting guidelines and underwriting authority
• Negotiate price and terms and conditions for ENR 500 accounts (Revenue > $25M)
• Ownership of key accounts / clients
• Develop and maintain strong relationships with producers and clients in partnership with Market Management
• Work effectively within the global matrix

Key Responsibilities:

Support Underwriting Strategy

• Support development and execution of regional Underwriting strategy for Architects and Engineers Professional Liability
• Support Key Business Initiatives
• Generate new producer relationships
• Participate/contribute to key projects

Underwrite Profitable Business

• 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 (for relevant LoBs)
• Underwrite International Insurance Programs (for relevant LoBs)

Underwriting Approach and Compliance

• Underwrite in line with LoB governance framework - e.g., Underwriting Authorities, global ASU, 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

Policy Documentation and Administration

• Ensure accurate policy documentation issued to producers (where Allianz Commercial 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

Market Management

• 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

Relationship Management

• Positively represent Allianz Commercial externally to the market
• Proactively drive involvement of functional areas in Underwriting process, including e.g., Market Management & Communications, Allianz Risk Control, Claims, Operations
• Develop and maintain strong relationships with key producers and clients and other relevant stakeholders (e.g., risk managers)

Required Skills:

• 7+ years of experience in Underwriting profitable Architects and Engineers Professional Liability business with an in-depth understanding of related products and portfolio
• In depth understanding of regional/local LoB(s) insurance markets and competitor landscape
• Demonstrable, established relationships with brokers at peer group level and well established within local market
• Ability to assess risk inherent exposures and natural hazards relevant to Architects and Engineers Professional Liability
• Manage the underwriting books, including analyzing trends and scenario plans from which portfolio strategies can be developed and implemented
• Analyze current performance against various benchmarks with a view to ensure adequate progress and satisfactory performance
• Apply the knowledge of how the market operates and functions, the business needs and customer needs
• 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
• Bachelor’s Degree, preferably in Economics, Finance, Insurance Management, or Business Administration
• Completion of professional insurance qualification (e.g., RPLU, CPCU, ARM, CII)

The annualized base pay range for this role is $151,254 - $270,810. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by a number of 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 Allianz Commercial 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.

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 401K.

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 (AzC) is a global corporate insurance carrier and part of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business. Learn more about us by clicking here.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our company culture.

Recruitment Agencies:

AzC has an in-house recruitment team, which focuses on sourcing great candidates directly. AzC does not accept unsolicited resumes from agency or search firm recruiters. 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.