Underwriting Specialist - Property

About the Role

Allianz Commercial (AzC) specializes in corporate property insurance for the most complex and challenging risk exposures in more than 200 countries and territories. With a focus on larger international risk portfolios, we offer tailor-made 'All Risks' property damage and business interruption insurance through our global network. Our experience speaks for itself, insuring the majority of Global Fortune 500 companies, managing over 1000 global property insurance programs, and fielding an underwriting team averaging over 20 years' experience, backed up a worldwide team of risk consultants and claims specialists. When it comes to underwriting insurance products for well-known famous sports venues, sports/entertainment facilities, major airlines, retail/wholesale companies, banks and manufacturers, we do it all!

The Impact You Will Have

As an Underwriting Specialist, you will play a critical role in driving profitable growth for Allianz Commercial. You will underwrite new and renewal business to meet Line of Business targets regionally—including global elements—while taking ownership of large accounts and client relationships. Your expertise will directly influence pricing strategies, terms and conditions negotiations, and capacity management. You will also serve as a mentor and referral point for underwriters, helping to develop the next generation of talent while contributing to the execution of our regional underwriting strategy.

Responsibilities

• Underwriting Profitable Business
  • Underwrite new and renewal accounts to meet top and bottom line targets
  • Negotiate price and terms and conditions with producers
  • Proactively manage capacity
  • Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modeling and interpretation of scenarios (for relevant LoBs)
  • Underwrite International Insurance Programs (for relevant LoBs)
• Underwriting Approach and Compliance
  • Underwrite in line with LoB governance framework (e.g., Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles)
  • Ensure contract certainty is achieved on all accounts at time of inception
  • Ensure utilization of global pricing tools
  • Ensure placing and binding of FAC Reinsurance prior to policy inception
• Policy Documentation and Administration
  • Ensure accurate policy documentation is issued to producers or that producers have issued documentation where applicable
  • Establish and maintain files (electronic or paper) for each risk and transaction handled
  • Proactively support completion of policy administration and credit control processes
• Underwriting Strategy & Leadership
  • Contribute to development and execution of regional Underwriting strategy for LoB
  • Train, develop, and coach less experienced staff, including Underwriters
  • Manage complex referrals from underwriters and spokes; re-underwrite complex business as appropriate
  • Delegate work as appropriate
• Market Management
  • Proactively support acquisition of new business and retention of existing business, including client and producer negotiations
  • Proactively liaise with MMC on market management initiatives
• Relationship Management
  • Positively represent AGCS externally to the market
  • Drive involvement of functional areas in the Underwriting process (e.g., MMC, ARC, Claims, Operations)
  • Develop and maintain strong relationships with key producers, clients, and relevant stakeholders (e.g., risk managers)

Qualifications

• Minimum 5–7 years of significant experience underwriting profitable business in the Line of Business, with specialized expert understanding of sub-LoB products and portfolio
• Recognized relationships with brokers at peer group level and well established within the market
• Specialized understanding of regional/local LoB insurance markets and competitor landscape, including global elements
• Good understanding of legal and regulatory framework
• Experience working in a complex, global matrix organization
• Bachelor's Degree, preferably in Economics, Finance, Insurance Management, or Business Administration
• Completion of a professional insurance qualification (e.g., CII) preferred
• Applicants must be legally authorized to work in the United States without the need for current or future employment-based sponsorship. We are unable to sponsor or take over sponsorship of employment visas at this time, nor can we guarantee future sponsorship.

Skills

• Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB (Advanced)
• Pricing and Market Management: Ability to analyze current performance against benchmarks, applying knowledge of how the market operates, business needs, and customer needs
• Contract Drafting and Interpretation: Ability to design, develop, and implement consistent, robust wordings (Advanced)
• Policy Management: Robust understanding of the policy administration life cycle, including information collection, policy issuance, premium bookings, credit control, and cancellation (Advanced)
• Analytical Skills: Ability to analyze highly complex data from multiple sources in detail; identify and resolve issues proactively (Advanced)
• Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally; ability to deliver audience-winning presentations (Advanced)
• IT Skills: Proficiency in general office applications (PowerPoint, Excel, Word)
• Experience in applying artificial intelligence (AI) and machine learning (ML) to improve business processes and decision-making is highly beneficial
• Influencing Skills: Ability to persuade and motivate others to act without executive authority (Advanced)

Key Competencies

• Results Orientation
• Entrepreneurial Orientation
• Market Insight
• Customer Focus
• Fostering Relationships

Pay

The annualized base pay range for this role is $123,534 - $186,707 for California. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role, the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.