Munich Jobs (NOW HIRING)

Underwriting Analyst, Corporate Property

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. We believe that by aligning our single risk business in one unified team we will 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

Future focused and always one step ahead!

With this opportunity, your primary responsibility will be to assist our MR F&C Corporate Property underwriters. You will be responsible for delivering timely and accurate risk clearance, account setup, rating and policy issuance. You will assist in the transition to new systems including testing and training. Duties will include reviewing and handling submission requests: processing new and renewal business through the Company's insurance and reinsurance systems; researching risks for prior coverage and losses; collecting and reconciling submission data and run rating and pricing models; entering quotes in quoting and rating systems and accurately updating insurance and reinsurance systems; completing all required aspects of policy, certificate, endorsement functions such as binding, issuance and service requirements. In this role you will communicate with brokers/agencies, customers and internal departments.

Responsibilities:

• 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.
• Work with Underwriters, internal departments and clients to ensure all assumptions are properly included.
• Run basic rating and pricing models.
• Prepare and assemble large risk insurance policies and amendments and perform related policy administration and issuing responsibilities in required timeframes.
• Assist in the management and oversight of compliance responsibilities associated with writing Large Single Risk business through admitted and non-admitted paper.
• Data entry of policy information into company systems
• Independently handle:
  • Preparation of quotes and binders.
  • Policy Review, Issuance and Processing for both insurance single risk policies, endorsements and reinsurance certificates.
  • Research of loss information.
  • Clearance of accounting discrepancies.
• Recommend process improvements, tool enhancements, testing of system and process changes.
• Participate on global or local projects as assigned.

Qualifications:

• Bachelor's degree, or college level insurance coursework
• 5 +years' experience with pricing, quoting and binding support working for a primary insurance company in policy administration, performing policy issuance and underwriting support functions (ISO rating and form experience preferred)
• Basic knowledge of primary and/or reinsurance underwriting process and coverage.
• Intermediate to expert level computer skills - Microsoft Excel, Word, PowerPoint, SharePoint, and Outlook
• Excellent customer service skills with successful ability to take ownership of and resolve issues
• Detail oriented and results-driven
• Good interpersonal, verbal and written communication skills.
• Ability to Travel - Princeton / New York.

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
• Is able to work quickly and with minimal direct oversight
• Demonstrates the ability to manage competing priorities within a team first, solutions oriented culture

The Company is open to considering candidates in numerous locations, including Princeton (NJ), and Chicago (IL). The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.

The base salary range anticipated for this position is $73,000 - $107,000 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).

The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton, NJ. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

* Two options for your health insurance plan (PPO or High Deductible).

* Prescription drug coverage (included in your health insurance plan).

* Vision and dental insurance plans.

* Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.

* Short and Long Term Disability coverage.

* Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).

* Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

* A robust 401k plan with up to a 5% employer match

* A retirement savings plan that is 100% company funded.

* Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.

* Eligibility to receive a yearly bonus as a Munich Re employee.

* A variety of health and wellness programs provided at no cost.

* Paid time off for eligible family care needs.

* Tuition assistance and educational achievement bonuses.

* A corporate matching gifts program that further enhances your charitable donation.

* Paid time off to volunteer in your community.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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