Address
Form of workHead of Business Runoff
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
Munich Re US (MR US) offers 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.
We address the key challenges of the future - that is what we have been doing in the US property/casualty reinsurance market since 1917. As a leading reinsurer, we deal with the issues that affect business and society and work to devise risk management and risk transfer solutions that render tomorrow's world insurable. Our recipe for success: we anticipate risks early on and deliver solutions tailored to our clients' needs, creating opportunities to achieve sustained profitable growth.
The Opportunity
Future focused and always one step ahead
The Head of Business Runoff reports to the Chief Claims Officer for Reinsurance North America within Munich Re America. This position manages a team responsible for proactive management of Am Re corporate run off to achieve favorable financial objectives. Establishes procedures that ensure proper corporate control of activities for defined run off agreements. Actively coordinates and communicates key activities among internal business units, corporate centers and external entities (clients, brokers and TPAs).
Requirements:
• Lead and guide a multi-disciplined specialized team of insurance and reinsurance experts including actuaries, account executives, business analysts according to our Global Claims Leadership Values
• Actively support Global Claims set-up and advance our Global Claims Ambition 2025, as a member of the Global Claims Management Team and Reinsurance North America Claims Leadership
• Ensure proactive account management with internal partners and external clients
• Establishes segmentation of and strategy for run-off clients. Develops corresponding processes, procedures and systems necessary to actively manage and monitor, including service level expectations of staff and other internal constituencies.
• Assumes responsibility for financial results.
• Leads, prioritizes and communicates efforts and status among Reinsurance North America departments, including but not limited to accounting, legal, underwriting, claims, results monitoring, account services, SBUs and senior management and partners with Munich Business Runoff.
• Coordinates activities and communication with external parties, including but not limited to client companies, brokers, TPAs, MGAs, and where applicable, state insurance departments.
• Assesses and communicates impact of run-off activity on AmRe's financial statements.
• Establish and maintain an excellent external network with key clients and brokers
• Plan and oversee internal and external claims visits, reviews and client events
• Contribute to our thought leadership and market presence ambition also through presentations and other strategic activities as well as supporting initiatives on a global basis
• Develop talent and contribute to the groupwide diversity and inclusion objectives
Qualifications:
• Bachelors degree in Business and/or equivalent work experience required; MBA or JD preferred
• 10+ years of (re)insurance experience in claims and/or underwriting experience
• 5+ years leadership experience in managerial roles including excellent change management skills
• Excellent understanding of insurance and reinsurance coverage interpretation, loss reserving, outlier process, loss report analysis, litigation management and client relationships
• Very good understanding of other functions within the insurance/reinsurance operations (underwriting, accounting, reserving and legal) and respective good network within US P&C and the Munich Re Group
• Very good knowledge of MR global and US P&C insurance and reinsurance claims systems, applications and processes and Claims guidelines and very good network across the MR Group
• Proven record of accomplishment in managing and developing talent
• Demonstrated expertise in data management, reporting and analytics
• Strategic thinking aimed at being solution oriented and results focused
• Excellent written, presentation and oral communication skills
• Strong negotiations and conflict solving skills
• Adept at understanding, embracing, and championing a shared strategy
• Proficiency with Microsoft software (Word, Outlook, Excel, Power BI) and other relevant computer applications
• Strong communication skills (presentation, verbal and written)
• CPCU a plus
At Munich Re, 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.
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
Munich Re US (MR US) offers 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.
We address the key challenges of the future - that is what we have been doing in the US property/casualty reinsurance market since 1917. As a leading reinsurer, we deal with the issues that affect business and society and work to devise risk management and risk transfer solutions that render tomorrow's world insurable. Our recipe for success: we anticipate risks early on and deliver solutions tailored to our clients' needs, creating opportunities to achieve sustained profitable growth.
The Opportunity
Future focused and always one step ahead
The Head of Business Runoff reports to the Chief Claims Officer for Reinsurance North America within Munich Re America. This position manages a team responsible for proactive management of Am Re corporate run off to achieve favorable financial objectives. Establishes procedures that ensure proper corporate control of activities for defined run off agreements. Actively coordinates and communicates key activities among internal business units, corporate centers and external entities (clients, brokers and TPAs).
Requirements:
• Lead and guide a multi-disciplined specialized team of insurance and reinsurance experts including actuaries, account executives, business analysts according to our Global Claims Leadership Values
• Actively support Global Claims set-up and advance our Global Claims Ambition 2025, as a member of the Global Claims Management Team and Reinsurance North America Claims Leadership
• Ensure proactive account management with internal partners and external clients
• Establishes segmentation of and strategy for run-off clients. Develops corresponding processes, procedures and systems necessary to actively manage and monitor, including service level expectations of staff and other internal constituencies.
• Assumes responsibility for financial results.
• Leads, prioritizes and communicates efforts and status among Reinsurance North America departments, including but not limited to accounting, legal, underwriting, claims, results monitoring, account services, SBUs and senior management and partners with Munich Business Runoff.
• Coordinates activities and communication with external parties, including but not limited to client companies, brokers, TPAs, MGAs, and where applicable, state insurance departments.
• Assesses and communicates impact of run-off activity on AmRe's financial statements.
• Establish and maintain an excellent external network with key clients and brokers
• Plan and oversee internal and external claims visits, reviews and client events
• Contribute to our thought leadership and market presence ambition also through presentations and other strategic activities as well as supporting initiatives on a global basis
• Develop talent and contribute to the groupwide diversity and inclusion objectives
Qualifications:
• Bachelors degree in Business and/or equivalent work experience required; MBA or JD preferred
• 10+ years of (re)insurance experience in claims and/or underwriting experience
• 5+ years leadership experience in managerial roles including excellent change management skills
• Excellent understanding of insurance and reinsurance coverage interpretation, loss reserving, outlier process, loss report analysis, litigation management and client relationships
• Very good understanding of other functions within the insurance/reinsurance operations (underwriting, accounting, reserving and legal) and respective good network within US P&C and the Munich Re Group
• Very good knowledge of MR global and US P&C insurance and reinsurance claims systems, applications and processes and Claims guidelines and very good network across the MR Group
• Proven record of accomplishment in managing and developing talent
• Demonstrated expertise in data management, reporting and analytics
• Strategic thinking aimed at being solution oriented and results focused
• Excellent written, presentation and oral communication skills
• Strong negotiations and conflict solving skills
• Adept at understanding, embracing, and championing a shared strategy
• Proficiency with Microsoft software (Word, Outlook, Excel, Power BI) and other relevant computer applications
• Strong communication skills (presentation, verbal and written)
• CPCU a plus
At Munich Re, 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.
