What are the responsibilities and job description for the Underwriting Analyst #11375 position at Munich Re?
Underwriting Analyst
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
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.
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.
Responsibilities
The base salary range anticipated for this position is $72,000 - $105,000 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).
The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.
At Munich Re, we see Diversity, Equity 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
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.
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.
Responsibilities
- Organize submission information:
- Review and organize the submission or specification for new and renewal business and endorsements within the time standard and business hours set out by the department.
- Provide internal processing and research support on complex submissions. Provide Underwriters with required reports and analysis.
- 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.
- Request information and follow up for any missing information using emails.
- Prepare submissions for entry into the underwriting systems for rating purposes.
- Set up folders electronically for submissions, new and renewal business, and endorsements. Clear any incoming mail/emails in the underwriting system, match up with appropriate file (s).
- 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.
- Collaborate with Underwriters, internal departments and clients to ensure all assumptions are properly included.
- Run basic rating and pricing models.
- Independently handle:
- Preparation of 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 systems and process changes
- Participate on global or local projects as assigned
- Bachelor’s degree or college level insurance coursework.
- Company experience 4 years with emphasis on analytic functions in underwriting, accounting, or statistical disciplines. 2 years' experience as an underwriting analyst. Experience with manuscript policy form preferred.
- Working knowledge of pricing models, insurance policies and reinsurance contracts for property engineering lines of business.
- Basic knowledge of primary and/or reinsurance underwriting process and coverage
- Excellent customer service skills with successful ability to take ownership of and resolve issues
- Intermediate to expert level computer skills – Microsoft Excel, Word, PowerPoint, SharePoint, and Outlook.
- Detail oriented and results driven
- Ability to Travel between Princeton and New York
The base salary range anticipated for this position is $72,000 - $105,000 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).
The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.
At Munich Re, we see Diversity, Equity 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.
Salary : $72,000 - $105,000