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About the Role

As a key member of the Global Specialty Insurance (GSI) Corporate Underwriting team, the Head of GSI Property Underwriting provides a portfolio-level view of the component Property risks within the global primary insurance portfolio. This role serves as a second line of defense, ensuring underwriting quality and the execution of GSI Underwriting strategies to support the long-term profitability of the Property portfolio.

Responsibilities

Setting the overall GSI Property Underwriting strategy, guidelines, and risk management approaches.
Overseeing GSI-specific underwriting strategies and guidelines through the GSI Underwriting teams.
Coordinating consistent Underwriting responses to industry trends, regulatory changes, and claims events, impacting policy language, underwriting decisions, and portfolio management.
Implementing Global Property UW strategies and Global UW guidelines where applicable.
Expertly handling referrals from business units (BUs) for risks outside their delegated authority and providing a second opinion on complex underwriting decisions, including supporting BUs through the GURC referral process.
Providing thought leadership on Property topics, leading the Property Underwriting Roundtable, supporting emerging risk analysis, and contributing Property expertise to cross-platform initiatives.
Evaluating Property Underwriting training needs, ensuring necessary training is conducted within GSI, and contributing to Group training initiatives.
Ensuring measurable standards for Business Unit Underwriting excellence, including KPIs, best practices, UW quality assurance, risk controls, market development response, and results monitoring for primary BUs.
Coordinating BU Underwriting Strategies and Mandates to ensure consistent risk approaches in the market.
Conducting regional portfolio monitoring to identify opportunities for improving short- and long-term profitability of the GSI Property portfolio, including quarterly exchanges between Reserving, Pricing, Underwriting, and Claims.
Reviewing and coordinating lessons learned analyses of BUs to improve UW performance.
Implementing quantitative analytics and pricing methodologies for Property segments to support better underwriting decisions consistent with Munich Re’s overall approach.
Leading Primary insurance business unit Underwriting audits/reviews according to a risk-based audit plan, coordinating audit activities, sharing best practices, and promoting consistency in alignment with CU Munich and BU compliance/standards groups.
Ensuring guidance from CU Munich regarding Property lines of business is well understood throughout GSI, participating in Expert Groups, CU boards, Topic Networks, and Consulting Groups, and providing cross-divisional support for Underwriting activities.
Working with BU Underwriting teams to ensure consistent understanding and application of MR guidance.
Coordinating with Reinsurance colleagues in various Reinsurance Divisions and supporting Reinsurance underwriting initiatives as needed.
Periodically assessing Property accumulations across all GSI entities to inform GSI Underwriting Strategy and portfolio management.
Coordinating budget requests to prioritize highest return opportunities and reconciling differences and agreements when model variations introduce ambiguity.

Requirements

In-depth knowledge of Insurance Underwriting practices and procedures.
Skill in analyzing qualitative and quantitative data.
Decision-making capability.
Minimum of 10 years of Property Underwriting of primary business.
Experience underwriting MGA/Program business.
Experience in US admitted and E&S markets, personal as well as commercial lines.
Ability to provide clear underwriting intent for new product development.
Ability to explain complex insurance and reinsurance concepts to both technical and non-technical audiences.
Strong communications, interpersonal, and influencing skills.
Excellent presentation skills.
Willingness to travel (up to 35% - 45%).

Skills

Property Underwriting
MGA/Program business underwriting
US admitted and E&S markets underwriting
Personal lines underwriting
Commercial lines underwriting
Quantitative analytics
Pricing methodologies
Underwriting audits
Risk management
Communication skills
Interpersonal skills
Influencing skills
Presentation skills

Location

New York (NY)
Philadelphia (PA)
Princeton (NJ)
Hartford (CT)
Chicago (IL)
Atlanta (GA)
Remote

Work Type

Full-time
Remote

Experience Level

Minimum of 10 years of Property Underwriting experience
Head of GSI Property Underwriting

Education Level

BS/BA degree
Advanced degree a plus
CPCU designation preferred
ARe designation preferred

Salary/Compensations

$246,200 - $400,000
Opportunity for company bonus

Benefits

Health insurance coverage (PPO or High Deductible)
Prescription drug coverage
Vision insurance
Dental insurance
Basic life insurance equal to 1x annual salary
AD&D coverage equal to 1x annual salary
Short Term Disability coverage
Long Term Disability coverage
Supplemental Life and AD&D plans
Voluntary Benefit plans (Accident, Critical Illness, Hospital Indemnity)
401k plan with up to a 5% employer match
100% company funded retirement savings plan
24 days paid time off annually
Paid time off for eligible family care needs
Tuition assistance
Educational achievement bonuses
Corporate matching gifts program
Paid time off to volunteer in your community
Employee wellness program
Paid holidays

About the Company

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.
As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand.
Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

Equal Opportunity

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us.
Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.
We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.
We recruit and develop talent with a focus on providing our customers the most innovative products and services.