AZGROUPPROD New York NY United States
2 months ago
Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks or climate change impacts, Allianz Global Corporate and Specialty (AGCS) have got the major risks fully covered when it comes to protecting businesses.
• Underwrite profitable new and renewal business to meet Reverse Flow Liability targets;
• Ownership of large accounts/clients including negotiation of pricing and terms and conditions;
• Training and development of team and referral point for underwriters;
• Develop and maintain strong relationships with overseas underwriters / producers, brokers and clients;
In this role you will…
• Underwrite Profitable Reverse Flow Liability business.
• Underwrite new and renewal accounts to meet top and bottom-line targets.
• Negotiate pricing and terms and conditions with overseas Underwriters / Producers and US Brokers.
• Proactively manage capacity deployment.
• Underwrite US portion of International Insurance Programs, with the ability to manage a book of business originating from assigned foreign countries in support of AGCS Global Controlled Master Programs for primary General Liability and Umbrella/Excess Liability
• Underwrite in line with Liability governance framework (e.g., Underwriting Authorities, global MSU, 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.
• Ensure accurate policy documentation issued to broker (where AGCS responsibility to do so) or producer has issued documentation (where producer responsibility).
• 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.
• Training, developing and coaching of less experienced staff (including Underwriters).
• Manage complex referrals from underwriters and re-underwrite complex business as appropriate.
• Delegate work as appropriate.
• Participate / contribute to key projects
• Participate in cross regional activities as required/requested
• Proactively support acquisition of new business and retention of existing business (including client and producer negotiations where necessary).
• Positively represent AGCS externally to the market.
• Proactively drive involvement of functional areas in Underwriting process, including MMC, ARC, Claims, and Operations.
• Develop and maintain strong relationships with key producers and clients and other relevant stakeholders (e.g., risk managers).
To be successful in the role:
You will have…
• Bachelor’s Degree, preferably in Economics, Finance, Insurance Management or Business Administration;
• Significant (5-7 years) experience in Underwriting profitable Liability / Reverse Flow business;
• In depth understanding of Liability products and portfolio;
• In depth understanding of regional/local Liability insurance markets and competitor landscape preferred
• Good understanding of legal and regulatory framework;
• Ability to assess risk inherent exposures and natural hazards relevant to Liability business;
• Analyze current performance against various benchmarks, applying the knowledge of how the market operates and functions, the business needs and customer needs;
• Design, develop and implement consistent, robust wordings;
• Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, and cancellation;
• Ability to analyze highly complex data, from multiple sources, in detail;
• Proactively 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;
• Proficiency in the use of general office application tools (e.g., Power Point, Excel, and Word;
• Ability to persuade and motivate others to act, without executive authority;
• Ability to work autonomously and manage production workflow;
• Willingness to operate in a team environment setting with mutual respect and collaboration;
• Fluent in English, both written and verbally;
• Ability to speak a foreign language(s) preferred; and
• Experience working globally preferred.
The annualized base pay range for this role is $101,560 - $181,828. 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 AGCS 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.
Here are a few reasons why you should join AGCS:
• Hybrid working model, which recognizes the value in a balance between remote and office-based working, giving you the flexibility to organize the way you work
• An exciting and versatile job with an opportunity to work alongside skilled and specialized colleagues from all over the world
• An environment where innovation and challenging the status quo is encouraged
• Wellbeing policies/initiatives to support a positive work life balance
• A competitive compensation and benefits package including generous bonus scheme
• A large portfolio of continuous learning opportunities to help you stay relevant in your current role, grow into future roles and meet the demands of the workplace
• Diverse and inclusive culture where you will be accepted for who you are and empowered to use your voice to help others find theirs
Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us.
Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit 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.
Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Worldwide, AGCS operates with its own teams in 31 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2020, AGCS generated a total of €9.3 billion gross premium globally.
In 2020, AGCS announced a new strategy and transformation program called New AGCS which aims to comprehensively transform the company, creating a mutually beneficial relationship with stakeholders.
This is an exciting time to join AGCS as we continue on our journey of transformation, regaining market leadership and achieving success together. You can grow your career through meaningful work supporting our customers, while learning from expert colleagues.
Allianz is an equal opportunity employer and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation. Diversity of minds is an integral part of Allianz’ company culture.
Let’s care for tomorrow
New York NY USA
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