Responsible for generating of an underwriting profit from the Programs that make up his/her portfolio, setting and attaining premium and expense goals, implementing proper underwriting discipline/guidelines, and marketing/servicing of existing and potential clients. Responsibilities include acting as Property lines lead and management of an underwriting team.
Job Duties and Responsibilities:
- Serve as the group’s property lead which requires a strong property underwriting background that includes deep product and reinsurance knowledge. Monitor and improve property pricing methods and consistency across programs. Report periodically to senior management with respect to growth, results, accumulation and property portfolio composition.
- Thoroughly review all new Program submissions. This shall include review of the proposed portfolio of business, including understanding of what risks are being underwritten, what coverages and limits are needed, how rating is developed, how risk selection is made and how business is obtained.
- Recommendation of whether submitted Program shall be considered for due diligence or declined.
- Participate in the due diligence process to determine/confirm acceptability for new partnerships.
- Responsible for ongoing audits of each partnership to assure adherence to underwriting guidelines and regulatory compliance.
- Evaluate and respond to special acceptance requests in a timely manner.
- Establish underwriting best practices to be utilized by partners.
- Price and analyze coverage, structure and exposures.
- Authorize quotes/binders/invoices as appropriate.
- Visit and communicate with partners on a regular basis to maintain good working relationship. Should make best efforts to be aware of and address any concerns or issues partner may have.
- Exercise proper underwriting pricing and discipline to meet profitability goals, complying with underwriting guidelines, systems and procedures.
- Referral contact for underwriting staff as necessary.
- Expand existing portfolio of business by developing existing relationships and new prospective clients.
- Coordinate and consultation with Product Leaders, Claims, Accounting, Actuarial, IT, internal audit and Legal departments as appropriate.
- Supervise and manage underwriting staff, which includes, but is not limited to delegation of duties and special projects, performance and salary reviews, and training and development.
- Work with senior management with respect to strategic and financial planning, budgeting, and monthly projections and reporting.
- Create and execute the business plan through interaction with senior management for the development, management and expansion of a portfolio.
- Maintain overview of markets and industry developments through traveling, attending industry conferences and seminars and other means to optimize the underwriting and portfolio strategy.
- 4 year college degree.
- Professional designation such as CPCU, ACII or similar.
- A minimum of 10 years property underwriting experience that includes deep product and reinsurance knowledge; with at least 2 years supervisory experience.
- Hands on experience in analytics, reporting methods and CAT Modeling experience is required.
- Established relationships with brokers/markets/companies.
- Successful track record in developing and maintaining reinsurance accounts.
- Excellent negotiation skills.
- Proficiency in Microsoft Office Suite (Excel, Word and PowerPoint).
- Excellent communication (both written and verbal) and interpersonal skills.
- Strong attention to detail and quantitative skills.
- Ability to work to deadlines and prioritize tasks.
- Ability and willingness to work outside normal office hours as required.
Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management.
About Allied World
Allied World Assurance Company Holdings, Ltd, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers superior client service through a global network of offices and branches. All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and our Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and AA- by Fitch.
Our generous benefits package includes: Health and Dental Insurance, 401k plan, and Group Term Life Insurance. Allied World Insurance Company is an Equal Opportunity and Affirmative Action Employer. All qualified applicants will be considered for employment without regard to an individual's race, color, national origin, religion or belief, sex, age, genetic information, marital or civil partnership status, family status, sexual orientation, gender identity, or their protected veteran or disability status. Please visit www.awac.com for further information on Allied World.