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Chief Underwriting Officer

Ewing, NJ, USA | W. R. Berkley Corporation

  • Industry:
    Insurance - General
  • Position Type:
  • Functions:
    Financial Services Professional
    General Management
  • Experience:
    15-20 years
Job Description:
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The Chief Underwriting Officer, a key contributor within the Berkley Life Sciences organization, is responsible for the strategic planning and overall management of the underwriting function enabling long term profitable growth of all products. This includes accountability for rate, pricing, commission strategies, review practices and other related actions which drive the financial results.The CUO will establish internal procedures and criteria to control risk and developing the annual operating plan objectives (top and bottom line) and long-term strategic plan. Ideal location is Ewing, NJ.  Under the direction the President the Chief Underwriting Officer’s primary responsibilities include but are not limited to: 

Management of Company and Account Loss Exposure

Portfolio management to reflect an appropriate balance between segments and diversification of line of business

Cycle management-devise strategies and protocols to grow profitably during all market cycles

Develop and direct the responsible product development, communication and training efforts that are consistent with business strategies which ensure new products and services and/or programs are compatible with systems and operational capacity and are consistent with BLS’s profit, growth and retention goals.

Establish policies and direct the analysis of information to support the development of products, services and/or new programs (i.e., research and identify target business, competitor information, analyze industry and economic factors, etc.)

Develop and ensure effective utilization of detailed monitoring standards to assess underwriting results on production and loss results down to the account level(i.e., profitability analysis, quarterly loss trends, utilization/productivity, etc.) and takes corrective action as necessary.

Assist in the maintenance of forms and rate filings for specific segments of business.This includes working with the state filings and actuarial/regulatory staff to prepare initial form and rate filings as well as subsequent related responses to Insurance Departments

Provides relevant training and development opportunities.

BLS representative for renewal of corporate reinsurance treaties

Primary representative for renewal of BLS specific reinsurance treaties

Oversee handling of individual account treaty acceptances

Development, implementation, and update of underwriting guidelines including applications, pricing tools, etc.

Development, implementation, and maintenance of authority statements.Drafting of authority for other department managers and any MGA relationships.

Lead for internal underwriting audit

Implementation and Management of internal underwriting compliance controls

Management of company accumulations

Develop and maintain effective relationships with internal resources (i.e., Claims, Operations, Systems, Reinsurance, etc.) to ensure delivery of all related services to clients.

Manages the budget, maintaining cost controls, expense management, and standards

Qualifications

BA/BS degree in a related field ideal

Minimum of 15 years underwriting experience including products, property, workers compensation and automobile.Specific experience working with Life Sciences risks ideal.

Demonstrated ability to provide strategic and tactical leadership to a team of talented professionals

Exceptional oral and written communication skills. Your communication style is flexible to the situation. You communicate clearly and with a purpose

Calm under pressure. You have excellent organizational skills, integrity, and great follow-through on tasks. You are comfortable challenging norms while working collaboratively with colleagues at all levels of the organization

You have a strong sense of accountability, fun and adventure

You have a proven track record of building and maintaining strong business relationships with insureds, agents & brokers.

A strong customer service bias. You want to get to yes. You are known for your super responsiveness. You can say no and preserve your relationships.

Natural curiosity. You love learning how things work and you are always looking for innovative improvements

An analytical mind. You love to dive into the details of an account in order to craft pricing and coverage that meet underwriting guidelines, profitability models and customer needs

Ability to travel up to 30% of the time, including overnight travel

Advanced proficiency with the Microsoft suite of products


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