Underwriting Manager / Underwriting Specialist, Professional Liability (Cyber)

Posted:
7/8/2024, 5:00:00 PM

Location(s):
Illinois, United States ⋅ Chicago, Illinois, United States

Experience Level(s):
Mid Level ⋅ Senior

Field(s):
Business & Strategy ⋅ Sales & Account Management

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.

Underwriting Manager/Specialist, Cyber Liability

The Position

The Underwriting Manager/Specialist is responsible for the submission generation, underwriting and policy issuance of Cyber & Technology Liability accounts with potential to work on Miscellaneous Professional Accounts in the Central Region.

Job Responsibilities

  • Build strong long term profitable relationships with agents, brokers and policy holders.
  • Generate pipeline of submissions that meet department appetite.
  • Evaluate applications and related materials to determine acceptability of risks in accordance with company guidelines and standards. Determine the need for additional evidence of insurability.
  • Participate in underwriting calls with clients and brokers to assess client’s cybersecurity controls
  • Exercise judgment, negotiation and sound business decision making based on level of authority.
  • Prepare quotes and answer questions from brokers, policyholders or other external contacts and escalate issues to management along with proposed solutions as necessary.
  • Provide acceptable level of underwriting documentation for all assigned accounts. Be able to articulate underwriting positions and most importantly, reasons for such positions internally and externally.
  • Keeps current on claim trends and changes in legal and regulatory environment.
  • Provide monthly forecasts for new and renewal business and regular reconciliations to such forecasts.
  • Monitor new business flow, quote ratio and hit ratio from each target agency to monitor variances to plan. Develop strategies to correct variances with each agency.
  • May provide guidance and assistance to other underwriters and to other functional areas particularly when related to cross-sell opportunities
  • Potential to move into a managing role for the right candidate

Required Skills/Experience

  • 4-6 years of Cyber underwriting experience

Desired Skills/Experience

  • Strong relationships with wholesale and/or retail Cyber brokers
  • Strong interpersonal and communication skills and the ability to work with management at a senior level
  • Knowledge of broader MPL classes of business is desirable
  • Highly motivated with the ability to work independently or as part of a team
  • Ability to organize, prioritize and manage multiple priorities 
  • Independent and innovative thinker with creative problem solving skills & strategic thinking
  • Strong analytical skills/judgement and mathematical skills
  • Strong mentoring/coaching skills to more junior colleagues
  • Effective communication – both oral and written
  • Effective negotiation skills

Education

  • BA or BS, ideally with a degree/major in Economics, Business, Finance, or Accounting

The Company

Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, and Australia, providing specialty risk solutions to clients worldwide across a wide range of industries.  With nearly 20 years of operating history and strong financial ratings, our track record remains solid.

Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.

#LI-AM3

#LI-HYBRID

Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn’t the right fit but you’re interested in working for Arch, create a job alert! Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch’s Talent Acquisition team.