Corporate Engineering Underwriting Analyst

Underwriting Analyst
Job Description
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 reinsurance and/or relevant insurance 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
Future focused and always one step ahead
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.
Key Responsibilities

• Organize submission information:
  • Review the submission or specification for new and renewal business
  • 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
  • Set up electronic business (eBF) for submissions, new and renewal business

• 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
• Independently handle endorsements, resolve claims and accounting issues
  • Prepare 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
• Run basic rating and pricing models
• Complete insurance single risk, reinsurance facultative certificate pricing and data analysis with minimal supervision
• Assist less experienced employees with basic solutions and participate on global or local projects as assigned
• Ability to travel to New York as needed

Qualifications

• College degree with emphasis on insurance, business or accounting preferred.
• 4+ years insurance or reinsurance company experience with emphasis on analytic functions in underwriting, accounting or 2+ years' experience as an Underwriting Analyst.
• Working knowledge of pricing models, insurance policies and reinsurance contracts for property lines of business.
• Basic knowledge of primary and/or reinsurance underwriting process and coverage
• Very good interpersonal skills and demonstrates very good verbal and written communication skills. Actively listens to others to ensure understanding of issues.
• Understanding of global and local systems, applications and reports; how the data flows through, how to read and interpret policies, binders and contracts.
• Intermediate Word and Excel skills.

At Munich Re US, we see Diversity 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.
#LI-JR1