| Job Description | Arch Insurance Group (Arch), a division of Arch Capital Group Ltd., is a market-leading specialty insurer. We provide a wide range of property, casualty and specialty insurance for corporations, professional firms and financial institutions across the United States and Canada.
As an Underwriter within Arch Alternative Markets, this position is responsible for the technical underwriting, account management and marketing of casualty captive programs. This position will report to the Assistant Vice President of Alternative Markets.
PRINCIPLE DUTIES
1. Technical Underwriting
•Solicits and reviews new and renewal account information required to evaluate a risk.
•Identifies all potential exposures and hazards in relation to coverage requested and individual risk characteristics.
•Assesses insurance and related financial risk and structures appropriate captive program to effectively protect against frequency, severity, catastrophic and credit risk
•Engage other internal resources as necessary
•Underwrites prices and prepares proposals within authority and with necessary input of Arch/Alt Market team.
•Prepares final proposals/binders and presents to producer and or prospective insured.
•Coordinates all administrative duties related to existing and prospective accounts.
2. Account Management
•Quarterbacks all post bind activities including policy production, compliance issues, audits and adjustments, legal agreements, receipt of collateral, legal agreement execution, TPA coordination and any other related items.
•Together with internal team members, takes responsibility to deliver promised service to customers.
•Responsible for the renewal and retention management and manages the renewal process to achieve targeted retention and price change goals.
•Initiates, coordinates and conducts a mid term account review.
3. Sales and Marketing
•Develops and maintains relationships with producers and insured’s to achieve overall productions and profitability goals.
•Meets with producers and insured’s to discuss individual account issues, uncover critical customer needs and financial buying characteristics.
•Develops a strategic plan for positioning and selling Arch at both the producer and the insured level.
•Engages and introduces other team members or management team as appropriate.
•Develops and maintains relationships with producers to generate a flow of qualified submissions.
4. Administrative
•Responsible for all underwriting and policy file documentation which is in compliance with Arch’s internal audit process.
•Completes ad hoc projects as assigned by management personnel
SKILLS & KNOWLEDGE
•Understanding and knowledge of the intent, scope and purpose of the Workers Compensation, General Liability, Automobile coverage forms and endorsements with the ability to tailor to the sold program design.
•Possess a thorough understanding of loss sensitive programs and an understanding of captive programs including products, pricing, expensing, actuarial loss projecting techniques, retention and aggregate setting, limit profiles, ALAE, and effective utilization of facultative reinsurance.
•Understanding and knowledge of exposure identification and analysis
•Posses a cross functional generalist knowledge of other disciplines including claims, risk control, audit, premium accounting, finance and legal.
•Knowledge of regulatory and compliance issues
•Knowledge of Arch’s product set
•Excellent communication skills – written, verbal and presentation
•Sales and Negotiation skills
•Be able to provide leadership and support to other team members
•Ability to perform multiple tasks simultaneously
•Have the ability to influence without authority and be willing to work in a collaborative and team environment.
Required Experience
•Five (5) to Seven (7) years underwriting experience and/or experience in the captive insurance marketplace.
•Established broker relationships.
Educational Requirements:
•Bachelor’s degree or equivalent training required.
•CPCU or other similar designation a plus. |
| | Company | | Arch Insurance Group | Job Code | | State or Province | | Minnesota | | |
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