Executive Underwriter - Property

$117,582 - $201,500/Yr

Allianz - Chicago, IL

Full-time

Remote - Chicago, IL

Insurance Carriers and Related Activities

About the position

Allianz Commercial (AzC) is seeking an Executive Underwriter for our property line of business, based in our Chicago, Illinois office. This hybrid role is pivotal in underwriting profitable new and renewal business to meet Line of Business (LoB) targets, adhering to established underwriting guidelines and authority. The Executive Underwriter will report directly to the Regional Property Leader for the Midwest Zone and will be responsible for negotiating pricing, terms, and conditions while also training and developing team members, including senior underwriters. This position requires a proactive approach to managing relationships with producers and clients, ensuring the ownership of large and key accounts, and negotiating participation and pricing effectively. The Executive Underwriter will contribute to the development and execution of the regional underwriting strategy, manage complex referrals, and re-underwrite complex business as necessary. Responsibilities include underwriting new and renewal accounts, managing capacity, and ensuring a thorough understanding of natural catastrophe accumulation and its implications for relevant lines of business. The role also involves representing AzC externally, driving involvement from functional areas in the underwriting process, and maintaining accurate policy documentation. The Executive Underwriter will play a crucial role in supporting the acquisition of new business and the retention of existing clients, while also participating in key projects and cross-regional activities as required. Candidates should possess a minimum of 7 years of experience in underwriting profitable property business, with a strong background in large commercial property risks across various sectors such as manufacturing, real estate, and healthcare. A deep understanding of the local and regional insurance markets, along with established relationships with brokers, is essential. The ideal candidate will have the ability to analyze complex data, assess risk exposures, and develop effective portfolio strategies. This role offers a competitive salary range and a comprehensive benefits package, emphasizing performance-based rewards and opportunities for career development.

Responsibilities

• Underwrite profitable new and renewal business to meet Line of Business (LoB) targets.
• Negotiate pricing, terms, and conditions with producers.
• Train, develop, and coach experienced staff, including Senior Underwriters.
• Manage complex referrals and re-underwrite complex business as necessary.
• Contribute to the development and execution of regional underwriting strategy.
• Proactively manage capacity and evaluate Natural Catastrophe Accumulation.
• Underwrite International Insurance Programs relevant to the line of business.
• Develop and maintain strong relationships with key producers and clients.
• Ensure accurate policy documentation is issued to producers.
• Support acquisition of new business and retention of existing business.

Requirements

• A minimum of 7 years' experience in underwriting profitable Property business.
• Proven track record in underwriting large commercial property risks.
• In-depth understanding of line of business products and regional/local insurance markets.
• Demonstrable relationships with brokers at the peer group level.
• Preferably a bachelor's degree in Insurance, Risk Management, Finance, Economics, or Business Administration.
• Ability to assess risk exposures and natural hazards relevant to the line of business.
• Strong analytical skills to analyze complex data and identify issues.

Nice-to-haves

• Experience with underwriting property insurance products for public entities and healthcare facilities.
• Knowledge of catastrophe modelling and interpretation of scenarios.
• Established relationships within the local market.

Benefits

• Generous bonus scheme and pension plan.
• Comprehensive compensation package including performance-based cash incentive awards.
• Flexible working arrangements and hybrid working model.
• Career development and digital learning programs.
• Support for health and wellbeing, including private healthcare and generous parental leave benefits.