Senior Financial Institutions Underwriter – Professional Liability
4 weeks ago
Opportunity Overview
This is an exciting opportunity to become part of AXIS Insurance, a reputable global provider of specialized insurance and reinsurance solutions. We distinguish ourselves through exceptional client service, strategic risk management, and impressive risk-adjusted returns for our stakeholders. Our corporate culture is built on entrepreneurial spirit, discipline, and ethical practices.
Our Commitment to Diversity
At AXIS, we recognize that our strength lies in our diverse workforce. We are dedicated to fostering an inclusive environment where employees from various backgrounds feel valued and empowered to express their authentic selves.
Position Overview
The Senior Underwriter for Financial Institutions will operate within established frameworks to assess, review, and monitor both new and renewal accounts for various financial entities, including public and private banks, insurance firms, hedge funds, and investment advisors. The role encompasses management liability, professional liability insurance, and related services.
In this position, the Senior Underwriter will utilize independent judgment to manage underwriting processes, typically overseeing a portfolio with an authority range of $3 to $5 million, while developing a robust book of business.
Candidate Profile
The ideal candidate will be a hands-on technical expert with a proven track record in a leading commercial insurance carrier, focusing on building a portfolio of management and professional liability for financial institutions, targeting middle-market to large accounts.
Successful candidates will possess extensive connections within the retail broker channels of financial institutions and comprehensive experience in portfolio management, including solicitation of submissions, underwriting analysis, and the preparation of quotations and marketing materials.
Moreover, the candidate should demonstrate an executive presence, with the ability to communicate effectively, influence stakeholders, and cultivate valuable relationships that enhance AXIS's business portfolio and support long-term strategic goals.
Work Environment
This role will involve a hybrid work model, with a combination of remote work and on-site presence. Maintaining strong relationships with brokers and clients, as well as participating in industry events, will require some travel.
Key Responsibilities
- Engage in prospecting by identifying new business opportunities and collaborating with key retail brokers to secure proposals.
- Evaluate national new and renewal business in accordance with underwriting guidelines, developing strategies and recommendations.
- Assess coverage requests from agents and determine the department's position, seeking approval for any requests beyond individual authority.
- Analyze and underwrite individual risks, establishing appropriate limits, retention, pricing, and endorsements.
- Manage a personal portfolio of business, focusing on new lines, renewals, and cross-marketing opportunities.
- Meet divisional service objectives, including turnaround times for quotes, policy issuance, and documentation maintenance.
- Conduct regular marketing visits to brokers, gather market intelligence, and provide updates on products and services.
- Maintain select agency relationships to ensure alignment with departmental objectives.
- Travel as necessary for marketing and client meetings.
- Continuously enhance product and underwriting knowledge.
- Stay informed about economic and legal factors affecting the insurance industry.
- Participate in projects or other related tasks as needed.
- Collaborate with marketing representatives to facilitate cross-marketing efforts.
Qualifications
- Bachelor's degree required.
- A minimum of 3 years of experience in executive liability underwriting within financial institutions.
- Advanced technical expertise in underwriting principles and practices.
- Experience in assessing financials, analyzing stock metrics, and managing portfolios.
- Strong understanding of risk management principles with analytical capabilities.
Desired Skills
- Proficiency in Microsoft Office applications.
- Exceptional negotiation and marketing skills.
- Ability to work collaboratively in a team environment.
- Strong presentation and financial analysis skills.
- Expertise in policy language analysis.
- Established relationships with brokers and proven marketing capabilities.
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