Facultative Construction Warranty Insurance

Princeton , United States
Your job
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
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 Cyber Treaty Underwriter will underwrite and manage a portfolio of Cyber reinsurance business in accordance with Munich Re US America guidelines, strategy and profitability standards. The Underwriter will responsible for risk analysis and assessment, coverage evaluation, pricing and contract negotiation in order to maintain and develop a profitable portfolio of Cyber assumed reinsurance business.

Major responsibilities include:

Execute the Cyber strategy, which includes the following:

• Market MR Group Cyber capabilities to brokers and clients
• Develop strong Cyber market presence via active participation in broker marketing and industry meetings.
• Underwrite new and renewal treaty business, including all tasks associated with risk and coverage analysis, pricing and contract negotiations.
• Participate in the development and establishment of Cyber strategies and business plans to maximize profitable growth
• Conduct underwriting audits of clients in order to provide credible evaluations of the quality of our clients’ and prospects’ books of business.
• Provide responsive service on all broker and client requests, including special acceptances and coverage questions.
• Demonstrate proficiency in the use of pricing models and other risk evaluation models.
• Work collaboratively with colleagues in other functional areas and across the Group, share knowledge by participating in line of business monitoring and product development activities.

Your profile

Successful candidates will possess the following skills/capabilities:

• 7+ years of primary and reinsurance underwriting experience preferred
• BS/ BA p required, advanced degree a plus
• Strong Cyber or Treaty underwriting knowledge.
• Strong IT background and/or interest.
• Ability to handle individual risk exposures in the form of special acceptances and facultative submissions.
• Ability to establish Reinsurance Broker contacts
• Strong collaboration required for internal projects and discussions with U.S. and Global colleagues.
• Understanding of contractual, accounting, finance and actuarial concepts;
• Excellent presentation, communication and negotiation skills regarding complex agreements with senior management and clients.
• Willingness to travel for audits and client and broker visits (approx. 20% of time)

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.

About us
Founded in 1917, Munich Reinsurance America, Inc. is one of the largest reinsurers in the United States. Munich Reinsurance America, Inc. has earned the A+ (Superior) financial strength rating from A.M. Best Company - that's among the highest in the industry. Over 1,000 employees serve our clients from our Princeton, New Jersey campus and regional offices throughout the United States.

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 you stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

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