Underwriting Analyst

 Underwriting Analyst

Job Title: Underwriting Analyst

Location: Remote

Department / Team: Underwriting

Reports to: SVP, Head of Property Underwriting

 

Company:

The company is a national property and casualty insurance company rated A- by A.M. Best. The company has the capability to offer admitted and surplus lines insurance products in [51] states and jurisdictions, this firm partners with program administrators and managing general agents to offer strategic insurance solutions. This leadership role will be accountable for the underwriting, management and performance of all new and renewal programs.

  Role Summary:

This is a range posting for an underwriting analyst who has the ability to liase with catastrophe analysts, actuarial functions in support of the new and renewal program business. This position will report directly to the Head of Property Underwriting, and work in conjunction with the Underwriting team. We are seeking someone highly organized and analytical, with proven ability to contribute to and drive underwriting decisions on both new and renewal opportunities. We are looking for someone who is passionate about success and who has excellent partnership and collaboration skills. This person will have a strong understanding of what makes a profitable and sustainable program. 

 

Working with the head of property and underwriting leadership team, the executive underwriter / senior underwriter is accountable for the profitability and relationship of their assigned program relationships. Additionally, the role will lead program management responsibilities for their assigned portfolio including audits, reinsurance strategy, and overall relationship management. help perform and manage program audits and make recommendations for improvement in process and portfolio management. 

  Key Outcome / Responsibilities:

To fulfil the Underwriting Analyst responsibilities, the Underwriting Analyst will:

·         Program Risk Assessment: Assist in due diligence activities to evaluate the risks and rewards associated with a program including tracking of underwriting requests and responses, reviewing performance and catastrophe modeling analyses, as well as documenting risk assessments and operational considerations.

·         Program Management & Underwriting: Collaborate with the program underwriting team on portfolio risk tolerances and optimization to maintain ongoing long-term profitability. Underwrite Special Acceptances on assigned programs, and provide thoughtful, meaningful and timely feedback to clients regarding the acceptance or rejection of such requests. 

·         Data Analytics: Perform underwriting and operational analysis and audits to recommend appropriate actions to improve productivity and the optimization of program profitability.

·         Client Interaction: Engage with clients and management on complex negotiations and presentations to develop new and existing business opportunities. Travel to Program Audits, Industry Conferences and Events and Marketing opportunities.

·        Contribute to internal and external reporting and presentations (e.g., Board reporting, Underwriting Committee material preparation).

 

Ideal Experience & Qualifications:

The Underwriting Analyst will have:

·        Minimum 3 years of experience in the insurance/reinsurance industry with a deep knowledge of MGA/Program business and program experience at an insurance or program carrier.

·        Experience across personal and commercial lines as well as admitted and E&S business.

·        Bachelor’s Degree required; Applied Math, Economics, Finance or Risk Management desired.

·        Strong critical and analytical thinking skills.

·        Excellent oral, written, and presentation communication skills.

·        Superior relationship management skills.

·        Relevant experience working with various support functions such as finance, controls, information technology, and third-party management.

·        A solid understanding of MS Office including Excel, Word, and PowerPoint.

  Personal Qualifications:

·        Superior communication, strategic thinking and problem-solving skills.

·        Excellent presentation skills, customer service, organizational and interpersonal skills.

·        Focused data-driven operator – ability to identify the “critical few” from the “important many” – while driving team accountability in a fast-paced environment.

·        Strong work ethic, accountability, timely follow-up, team and detail oriented with high energy who strives for excellence.

 

Opportunity Highlights:

·        Market dislocation creates significant opportunity for a team with a demonstrated track-record of disciplined risk management and generating consistent U/W results for its capacity partners.

·        Seasoned management team with a proven ability to attract the best performing MGA programs, including already established partnerships with leading specialty brokers.

·        Collaborative underwriting focus and disciplined risk selection benefits both MGA and reinsurance partners with a track record of success.

·        Diversified, high-quality U.S. Specialty/E&S portfolio to capacity partners.

·        Total capital commitment of >$100M from equity sponsors and company is targeting 20% ROI.

 

Differentiated Approach:

·        Alignment of Interests – the firm will structure programs to create bottom-line-driven incentives for all parties in the partnership.

·        Optimized Participation – Focus on maximizing “Return on Allocated Surplus” by program and across the portfolio.

·        Data Driven Decisions – Collaboration with both MGA and Reinsurers focusing on profitability and longevity of the partnership.

·        Holistic Risk Transfer – Reinsurance purchasing based on efficiencies across the portfolio, creating a more diversified approach to risk transfer and cost efficiencies.