Underwriter - FTC

Introduction

Munich Re Specialty North America - Binding Authorities (formerly Bell & Clements) is a Lloyd’s Broker authorised and regulated by the Financial Conduct Authority. We became part of the Munich Re Group in May 2007.We offer insurance and reinsurance intermediaries throughout the world access to Lloyd’s of London and to London, European and Bermudian companies.

We specialize in providing US Managing General Agents (“MGAs”) with a comprehensive service for surplus lines business. We are acknowledged market leaders in arranging binding authorities for US MGAs and in managing the relationship between the MGA and the insurers.

We also provide, through our MRSNA Underwriting Managers division, a capability to quote and bind a wide variety of risks under our own in-house binding authorities.

To assume a prominent role in all aspects of the management of the Munich Re Specialty – North America Binding Authorities portfolio.

This includes the profitable underwriting of delegated business, cover holder oversight, management of Nat Cat budget allocation and Cat aggregate deployment, developing and evaluating new business relationships, conducting underwriting file reviews and detailed analysis of the underwriting results of delegated business.

• Work with the CUO and the rest of the Managed Underwriting team to ensure successful execution of our underwriting strategy and plan, in accordance with applicable underwriting authority levels, underwriting guidelines, internal directives, and client strategies.
• Manage and steer underwriting results for the applicable segments of the portfolio, utilizing MI and KPIs to critically analyse and evaluate the business - including review of production, loss experience, exposure, rate adequacy, and pricing discipline.
• Assess and refine underwriting guidelines, pricing models, and program performance metrics in collaboration and alignment with the rest of the Binding Authorities Underwriting teams and with Corporate Underwriting, where necessary.
• Manage CAT budget allocations and prudent deployment of CAT aggregate for the applicable segments of the portfolio.
• To support in the oversight of the activities of Underwriters and junior members of the Managed Underwriting department as required, as well as providing peer review where needed.

• Cover holder oversight - including relationship management, operational reviews, audits, and due diligence to ensure accuracy, consistency, and adherence to standards.
• Conduct customer visits and travel for marketing purposes to play a prominent role in developing and overseeing new and existing business relationships.
• Conduct policy and underwriting file reviews to ensure accuracy, consistency, and adherence to standards.

• Collaborate with Corporate Underwriting and actively participate on any cross-functional committees as needed, assisting with the production of reports as required.
• Develop innovative insurance solutions and products in addition to conventional covers in close co-operation with other business units.
• Work closely with IT, Accounting, Claims, and other internal functions to resolve technical, operational, and system-related issues.

• To embrace and actively implement the core principles of Continuous Conversations (Commitments, Feedback and Development) as part of daily activities and with other colleagues.
• Take ownership of and make personal and professional development a priority as part of Continuous Conversations.
• In line with Continuous Conversations, establish and achieve development aspirations and needs through the setting of…