Associate Graduate Underwriter - Chicago

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Cluster: Allianz Professional
Let's care for tomorrow.
Your ambitions. Your dreams. Your tomorrow
At Allianz Commercial (AzC), we are the global leader for insuring corporate and specialty risks in the Allianz Group. Whether it's aircraft, satellites, the world's biggest ships and tallest building, cyber-attacks, or climate change impacts, AzC has the major risks covered when it comes to protecting businesses.
We are looking for an Associate Graduate Underwriter for our Property line of business (lob). This role will be located in our Chicago, Illinois office.
The Associate Graduate Program...
This is a once-in-a-career opportunity to kick start your career with on-the-job learning experience coupled with a structured development program at one of the world's strongest financial services groups and the leading global insurance brand in the world, Allianz Commercial.
This a 12-month internal training program designed to attract, develop, and retain the next generation of insurance professionals. Allianz believes in early career development of our Associates and the Program will support your growth as a well-rounded technical expert and potential future leader.

• Employment begins mid-July 2024 and the Program starts in early August of 2024
• Time is split time between structured learning curriculum and on the job experiential learning
• Opportunity to gain a broad base of industry knowledge, function specific expertise as well as personal and professional skills development
• Ability to network with senior leaders, technical experts, customers, as well as other graduates and early career program participants globally
• Hybrid working environment allowing you to collaborate with and learn from teammates
• Access to an extensive array of Allianz Commercial professional development resources upon Program completion
• Competitive compensation and benefits package
• Travel to onsite week-long workshops at various Allianz offices requires 3-4 times during the Program

Your Team
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
Reporting to the Regional Property Leader - Midwest Zone, this position will prepare underwriting process within own area of responsibility and expertise and liaise with other functions to ensure timely/accurate policy administration. And develop and maintain peer level relationships with brokers
Some of your specific responsibilities could include:

• Underwriting of new and renewal accounts to meet top and bottom line targets within predefined underwriting authority. Participates in the acquisition of new business and retention of existing business (including client and broker negotiations where necessary) in line with Underwriting Strategy. Proactively prepare relevant underwriting information including client / market research and claims data. Assist in evaluation of Natural Catastrophe Accumulation (for relevant LoBs). Assist in pricing of risks, using global tools as appropriate
• Ensure Underwriting compliance in line with LoB governance framework - e.g., Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles. Assist in ensuring contract certainty is achieved on all accounts at time of inception. Assist in ensuring binding of FAC Reinsurance prior to policy inception
• Proactively establish and maintain policy file (whether electronic or paper) for each risk and transaction handled. Ensure accurate policy documentation issued to broker (where AzC responsibility to do so) or broker has issued documentation (where broker responsibility). Support administration of International Insurance Programs (for relevant LoBs)
• Manages timely and accurate booking of policy premiums and credit control / collection processes. Proactively work with other functions (e.g., operations, credit control) to resolve outstanding accounts queries
• Positively represent AzC externally to the market. Proactively drive involvement of functional areas in Underwriting process, including e.g., MMC, ARC, Claims, Operations. Develop and maintain strong relationships with key brokers and clients and other relevant stakeholders (e.g., risk managers)
• Proactively develop relationships with internal functional areas involved in Underwriting process, including e.g. MMC, ARC, Claims, Operations. Develop and maintain relationships with brokers at peer level. Continue to develop knowledge of policy forms and underwriting proficiency

What You'll Bring to the Role -

• Recently completed (or completed in the last 2 years) Bachelor's degree in Insurance, Risk Management, Finance, Economics, Business or other appropriate discipline
• Progress towards professional insurance qualification

• Minimum GPA of 3.0 preferred
• Degree path focus, mindset and/or aptitude for insurance
• Prior experience gained through internships, academic projects or related work experience is preferred but not required
• Strong interpersonal skills and the ability to develop and maintain professional relationships with colleagues, peers, managers and customers
• Strong problem resolution and analytical skills as well as the ability to grasp and solve complex issues and present solutions to others effectively
• Excellent computer skills including MS/Excel, Word, and PowerPoint
• Eligibility to work in local hiring office (US or Canada)

The annualized base pay range for this role is $45,907 to $69,000. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by several 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.
What's in it for you?
Let's care about everything that makes you, you
We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.
Let's care for your financial wellbeing
We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.
Let's care for your opportunities to progress
From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.
Let's care for life's twists and turns
From our support for flexible working, health, and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.
Let's care for our society and our planet
With opportunities to be engaged in shaping a future that is safe, inclusive, and sustainable, we care for the tomorrows of our people, our industry, and our clients.
Care to join us?
Allianz Commercial (AzC) is a global corporate insurance carrier and part of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business. Learn more about us by clicking here.
Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation, or any other protected characteristic. Diversity of thinking is an important part of our company culture.
Recruitment Agencies:
AzC has an in-house recruitment team, which focuses on sourcing great candidates directly. AzC does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly.
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