Underwriting Analyst 6563

Underwriting Analyst

We’re 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. We will consider a range of experience for this role and the offer will be commensurate with that.

The Company

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.

Munich Re Facultative and Corporate (MR F&C) was created to bundle Munich Re’s facultative and corporate business into one global unit. By aligning our single risk business in one unified team we better position Munich Re to provide a holistic suite of products and services that meet the growing demands of our clients and broker partners.

The Opportunity

The Underwriting Analyst is responsible for providing support to MR F&C Corporate Engineering underwriters. Duties will include reviewing and handling submission requests, process new business, renewals through the company’s financial system in a timely and accurate manner, researching property locations for prior coverage and losses using Munich Re Americas and Munich systems, assigning occupancies to locations, calculating total insured values, and setting up quote/binder templates. Communicates with brokers/agencies, customers and internal departments and special projects as needed.

The ideal candidate:

• Has a proactive and passionate service approach with ability to take ownership and drive issues to resolution.
• Is highly adaptive and able to work effectively in ambiguous and changing environments.
• Can work quickly and with minimal direct oversight.
• Demonstrate the ability to manage competing priorities within a team first, solutions-oriented culture.
  
  
  

Key Responsibilities of this position include:

• Review and organize the submission or specification for new and renewal business and endorsements within the time standard and business hours set out by the department.
• Provide internal processing and research support on complex submissions. Provide Underwriters with required reports and analysis.
• Review the limits, deductibles and input terms and conditions into global and local systems.
• Clear submissions for single risk and facultative certificate in the appropriate Munich global system.
• Request information and follow up for any missing information using email.
• Prepare submissions for entry into the underwriting systems for rating purposes.
• Set up folders electronically for submissions, new and renewal business, and endorsements. Clear any incoming mail/emails in the underwriting system, match up with appropriate file(s).
• Perform quality control of system entries to ensure accurate financials and mitigate any resulting financial impacts; maximize the integrity, quality and usability of information which will minimize discrepancies encountered by local and global data consumers.
• Collaborate with Underwriters, internal departments, and clients to ensure all assumptions are properly included.
• Run basic rating and pricing models.
• Independently handle:
• Preparation of quotes and binders
• Policy Review, Policy Processing for both insurance single risk policies, endorsements, and reinsurance certificates
• Research loss information.
• Clear accounting discrepancies and assist claims with any information they may require.
• Recommend process improvements tool and enhancements, testing of system and process changes.
• Participate on global or local projects as assigned
  
  
  

Qualifications:

• Bachelor’s degree or college level insurance coursework.
• Company experience 4+ years with emphasis on analytic functions in underwriting, accounting, or statistical disciplines. 2+ years experience as an underwriting analyst. Experience with manuscript policy form preferred.
• Working knowledge of pricing models, insurance policies and reinsurance contracts for engineering lines of business.
• Basic knowledge of primary and/or reinsurance underwriting process and coverage.
• Excellent customer service skills with successful ability to take ownership of and resolve issues
• Intermediate to expert level computer skills – Microsoft Excel, Word, PowerPoint, SharePoint, and Outlook.
• Detail oriented and results driven.
• Ability to Travel between Princeton and New York.
• Travel to branch offices - Princeton and New York, approx. 25% of time.
  
  
  

We will consider candidates in our Princeton, NJ or NYC, NY offices. The salary range posted below applies to the Company’s NYC location.

The base salary range anticipated for this position is $76,400 - $112,000 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).