Head of Property Underwriting

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

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.

Future focused and always one step ahead!

As a key member of the Global Specialty Insurance (GSI) Corporate Underwriting team, the Head of GSI Property Underwriting assumes a strategic role in providing a portfolio level view of the component Property risks that make up the global primary insurance portfolio. It is a second line of defense ensuring the quality of underwriting throughout GSI and execution of GSI Underwriting strategies.

The focus will be on consistent views of risk across the local underwriting teams in the Entrepreneurial Business Units to support long-term profitability of the Property portfolio.

As Head of GSI Property Underwriting, you’ll be responsible for the following:

• Setting the overall GSI Property Underwriting strategy, guidelines and risk management approaches.
• Oversight of GSI specific underwriting strategies and guidelines through the GSI Underwriting teams.
• Response to industry trends and their impacts on GSI portfolio results: when industry, regulatory and Claims events and trends are identified, coordinate consistent Underwriting response in terms of policy language, underwriting decisions, portfolio management etc.
• Implementation of the Global Property UW strategies and Global UW guidelines, where applicable.
• Expert handling of referrals from business units (BUs) seeking approval of risks outside their delegated authority and second set of eyes for difficult underwriting decisions including supporting the BUs through the GURC referral process.
• Thought leadership on Property topics, and leadership of Property Underwriting Roundtable. Support emerging risk analysis and cross platform initiatives with Property expertise. Evaluate Property Underwriting training needs, ensure needed underwriting training within GSI is conducted and contribute to Group training initiatives.
• Ensuring there are measurable standards for Business Unit Underwriting excellence, including KPIs, best practices, UW quality assurance, sufficient underwriting risk controls, appropriate response to market developments and results monitoring for primary BUs.
• Coordinate the established Underwriting Strategies and Mandates of the BUs to ensure consistent approaches to risk in the market.
• Conducting regional portfolio monitoring to identify opportunities for improving short- and long-term profitability of GSI Property portfolio, including coordination of quarterly exchange between Reserving, Pricing, Underwriting and Claims. Review and coordinate lessons learned analyses of BUs for improvement in UW performance.
• Implement quantitative analytics and pricing methodologies for Property segments which contribute to GSI entities making better underwriting decisions and are consistent with Munich Re’s overall approach.
• Leading Primary insurance business unit Underwriting audits/reviews according to risk-based audit plan. In alignment with CU Munich and with the help of compliance and standards groups within the BUs, coordinate audit…