SENIOR UNDERWRITER (ENERGY & CONSTRUCTION) Based in Madrid Description As a direct report to the Regional Head of Energy & Construction, IberoLatam, the Senior Underwriter will provide support on the following: Underwrite profitable new and renewal business to meet LoB targets locally/regionally.
Negotiate participation, pricing, and terms and conditions.
Ownership of accounts/clients.
Training and development of team and referral point for other underwriters.
Develop and maintain strong relationships with brokers and clients.
Duties & Responsibilities Underwrite new and renewal accounts to meet top and bottom line targets (local and/or regional).
Negotiate participation, pricing, and terms and conditions with brokers.
Proactively manage capacity.
Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modelling and interpretation of scenarios (for relevant LoBs).
Underwrite International Insurance Programs (for relevant LoBs).
Underwriting Approach and Compliance Underwrite in line with LoB governance framework (e.g., Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles).
Ensure contract certainty is achieved on all accounts at the time of inception.
Ensure utilization of global pricing tools.
Ensure placing and binding of FAC Reinsurance prior to policy inception.
Policy Documentation and Administration Ensure accurate policy documentation is issued to broker.
File maintenance to ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled.
Proactively support completion of policy administration and credit control processes.
Support Underwriting Strategy & Leadership Support development and execution of regional Underwriting strategy for LoB regionally.
Training, developing, and coaching of less experienced staff (including junior underwriters, operations, credit control).
Manage standard referrals from underwriters and re-underwrite complex business as appropriate.
Delegate work as appropriate.
Global Distribution Proactively support acquisition of new business and retention of existing business (including client and broker negotiations where necessary).
Proactively liaise with Global Distribution on market management initiatives.
Relationship Management Positively represent AGCS externally to the market.
Proactively drive involvement of functional areas in Underwriting process (e.g., Global Distribution, ARC, Claims, Operations).
Develop and maintain strong relationships with key brokers, clients, and other relevant stakeholders (e.g., risk managers).
Knowledge, Skills & Abilities Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB.
Pricing and Market management: Contract Drafting and Interpretation: Design, develop and implement consistent, robust wordings.
Policy Management: Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit control, cancellation.
Proven track record in Underwriting profitable business in LoB.
Good understanding of LoB products and portfolio.
Demonstrable established relationships with brokers at peer group level and established within the market.
Good understanding of regional/local LoB insurance markets and competitor landscape.
Understanding of legal and regulatory framework.
Experience working in a complex, global matrix organization.
Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally.
Ability to 'sell' an improvised or prepared audience winning story.
Influencing skills: Ability to persuade and motivate others to act, without executive authority.
Analytical Skills: Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve issues before they transpire.
Preferably a University Degree in any Engineering, Economics, or other appropriate discipline.
Language: English - Fluent (able to negotiate) and Spanish - Fluent (native level) Allianz Group is one of the most trusted insurance and asset management companies in the world.
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Allianz Global & Specialty (AGCS) is a leading global insurance carrier and a key business unit of Allianz Group.
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