Position Summary
The Structured Insurance Property Underwriter is responsible for underwriting new and renewal structured property insurance opportunities, focusing on profitable and sustainable portfolio development for represented carriers. Utilizing complex structuring techniques, the role is to create bespoke property insurance and captive reinsurance risk solutions to meet the needs of large commercial and corporate clients and their captive reinsurers while building strong relationships with these clients and their brokers. Under the direction of underwriting leadership and working collaboratively using a business team approach, the underwriter meets the unique needs of clients while delivering strong results to the company and the carriers it represents. USQRisk is a leading global alternative risk transfer MGU that provides structured insurance solutions for complex and unique risks.
What will your job entail?
Responsibilities
- Underwriting & Portfolio Management
- Report to Chief Underwriting Officer.
- Underwrite and develop bespoke structured property (re)insurance solutions for complex and unique property risks for large commercial and institutional clients.
- Evaluate, select, and price risks with a focus on long-term profitability and alignment with underwriting guidelines.
- Participate in portfolio development that balances profitability with risk assumption.
- Manage existing, and develop new, risk and pricing models together with the internal stakeholders.
- Implement client acquisition and renewal strategy and actively monitor the company’s and its carriers’ property portfolio to assure growth while maintaining alignment with profitability and risk assumption metrics.
- Assure timely review of submissions, delivery comprehensive and well-crafted underwriting proposals, and delivery of insurance or captive reinsurance documentation, including rate, quote, and bind processing, premium management, and delivery of policies and endorsements.
- Risk Assessment & Structuring
- Conduct comprehensive individual risk assessment, including understanding the location and nature of insurable risks, the coverages sought, exposure, safety features, and the insureds’ industries.
- Assure that each risk is properly modelled and priced.
- Determine appropriate insurance and captive reinsurance structures, including setting risk limits, premiums mechanics, and terms and conditions for structured property solutions.
- Negotiate bespoke terms and conditions with brokers while identifying cross-selling and additional opportunities for the company and the group.
- Market & Client Development
- Build and maintain long-term professional relationships with brokers, carriers, captive managers, and corporate and financial institution clients.
- Represent USQRisk and affiliates at industry events and stay ahead of emerging market trends, and regulatory developments.
- Develop strategic initiatives to secure new business opportunities and assure renewals to expand the structured property portfolio while assuring profitability of the portfolio.
- Collaboration
- Partner with internal teams to optimize processes, integrate new risk solution concepts, share techniques and developments, and develop business strategies to align team goals with strategic business objectives.
- Contribute to premium forecasting, budgeting, and performance reporting, as well as aid in developing standards.
Qualifications
This position is for an established property underwriter with strong technical and quantitative skills. The successful candidate will need to be creative and willing to learn non-traditional insurance techniques.
- Experience: 5+ years of property & casualty underwriting, with exposure to complex/structured solutions.
- Education: Bachelor’s or Master’s degree in Risk Management, Actuarial Sciences or Business Administration is strongly recommended. Any other related discipline or commensurate work experience considered.
- Licensing/Certifications:
- Required: Applicable state P&C and/or surplus lines licenses.
- Preferred: CPCU, CIC, or equivalent advanced certifications.
Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.
How We Support Our Teammates
Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.
The target salary range for this position is $120,000.00 - $150,000.00 annually.
The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.
We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at HR@Ryansg.com
The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
