Arch Insurance Group Inc.
Underwriting Specialist/Underwriting Manager
Arch Insurance Group Inc., Washington, District of Columbia, us, 20022
3 days ago Be among the first 25 applicants
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℠.
Position Summary Are you tired of losing business to Group Captives? Join our team! As an Underwriter within Arch Alternative Markets, this position is responsible for the technical underwriting, account management and client management of our casualty group captive programs. We have been growing steadily 20% per year with no shortage of opportunities. We exceeded $1 Billion of GWP and are looking for more team members.
Responsibilities and Accountabilities
Technical Underwriting – solicits and reviews new and renewal account information required to evaluate a risk. Identifies all potential exposures and hazards in relation to coverage requested and individual and program risk characteristics. Assesses insurance and related financial risk in order to structure appropriate captive programs to effectively protect against frequency, severity, catastrophic and credit risk. Engages other internal resources as necessary. Underwrites, prices and prepares proposals within authority and with necessary input of Arch Actuarial, Credit and Alt Market team. Prepares program binders and presents to captive manager/producer and/or prospective insured. Coordinates all administrative duties related to existing and prospective accounts.
Account Management – quarterbacks all pre and post bind activities including policy production, compliance issues, audits and adjustments, legal agreements, receipt of collateral, legal agreement execution, TPA coordination and any other related items. Works with internal team members to deliver promised service to customers. Responsible for renewal and retention management and manages the renewal process to achieve targeted retention and price change goals. Initiates, coordinates and conducts a mid‑term account review.
Client Management – develops and maintains relationships with producers and insureds to achieve overall production and profitability goals. Meets with producers and insureds to discuss individual account issues, uncover critical customer needs and financial buying characteristics. Develops a strategic plan for positioning and selling Arch at both the producer and the insured level. Engages and introduces other team members or management team as appropriate. Generates a flow of qualified submissions.
Administrative – responsible for all underwriting and policy file documentation which is in compliance with Arch's internal audit process. Completes ad‑hoc projects as assigned by management.
Required Skills and Abilities
Understanding and knowledge of the intent, scope and purpose of the Workers Compensation, General Liability, and Automobile coverage forms and endorsements with the ability to tailor to the sold captive program design.
Thorough understanding of loss‑sensitive programs, excess & surplus lines programs.
Understanding of captive programs is desired but not required. Includes products, pricing, expensing, actuarial loss projecting techniques, retention and aggregate setting, limit profiles, ALAE, credit risk, and effective utilization of facultative reinsurance.
Understanding and knowledge of exposure identification and analysis.
Cross‑functional generalist knowledge of other disciplines including claims, risk control, audit, premium accounting, finance and legal. Knowledge of regulatory and compliance issues.
Education & Experience
Bachelor's degree or equivalent training required.
CPCU or other similar designation a plus.
Three (3) to five (5) years underwriting experience and/or experience in the Loss Sensitive, Excess & Surplus marketplace, or captive insurance marketplace.
Proficiency with Excel, Word and PowerPoint.
Established broker or captive program relationships not necessary.
Compensation and Benefits Base salary range: $125,000 – $145,000 per year + 10% target bonus. Position is incentive eligible. Total individual compensation (base salary, short & long‑term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.
Benefits include multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401(k) with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long‑Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more.
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 and join our talent community to share your preferences directly with Arch’s Talent Acquisition team.
#J-18808-Ljbffr
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℠.
Position Summary Are you tired of losing business to Group Captives? Join our team! As an Underwriter within Arch Alternative Markets, this position is responsible for the technical underwriting, account management and client management of our casualty group captive programs. We have been growing steadily 20% per year with no shortage of opportunities. We exceeded $1 Billion of GWP and are looking for more team members.
Responsibilities and Accountabilities
Technical Underwriting – solicits and reviews new and renewal account information required to evaluate a risk. Identifies all potential exposures and hazards in relation to coverage requested and individual and program risk characteristics. Assesses insurance and related financial risk in order to structure appropriate captive programs to effectively protect against frequency, severity, catastrophic and credit risk. Engages other internal resources as necessary. Underwrites, prices and prepares proposals within authority and with necessary input of Arch Actuarial, Credit and Alt Market team. Prepares program binders and presents to captive manager/producer and/or prospective insured. Coordinates all administrative duties related to existing and prospective accounts.
Account Management – quarterbacks all pre and post bind activities including policy production, compliance issues, audits and adjustments, legal agreements, receipt of collateral, legal agreement execution, TPA coordination and any other related items. Works with internal team members to deliver promised service to customers. Responsible for renewal and retention management and manages the renewal process to achieve targeted retention and price change goals. Initiates, coordinates and conducts a mid‑term account review.
Client Management – develops and maintains relationships with producers and insureds to achieve overall production and profitability goals. Meets with producers and insureds to discuss individual account issues, uncover critical customer needs and financial buying characteristics. Develops a strategic plan for positioning and selling Arch at both the producer and the insured level. Engages and introduces other team members or management team as appropriate. Generates a flow of qualified submissions.
Administrative – responsible for all underwriting and policy file documentation which is in compliance with Arch's internal audit process. Completes ad‑hoc projects as assigned by management.
Required Skills and Abilities
Understanding and knowledge of the intent, scope and purpose of the Workers Compensation, General Liability, and Automobile coverage forms and endorsements with the ability to tailor to the sold captive program design.
Thorough understanding of loss‑sensitive programs, excess & surplus lines programs.
Understanding of captive programs is desired but not required. Includes products, pricing, expensing, actuarial loss projecting techniques, retention and aggregate setting, limit profiles, ALAE, credit risk, and effective utilization of facultative reinsurance.
Understanding and knowledge of exposure identification and analysis.
Cross‑functional generalist knowledge of other disciplines including claims, risk control, audit, premium accounting, finance and legal. Knowledge of regulatory and compliance issues.
Education & Experience
Bachelor's degree or equivalent training required.
CPCU or other similar designation a plus.
Three (3) to five (5) years underwriting experience and/or experience in the Loss Sensitive, Excess & Surplus marketplace, or captive insurance marketplace.
Proficiency with Excel, Word and PowerPoint.
Established broker or captive program relationships not necessary.
Compensation and Benefits Base salary range: $125,000 – $145,000 per year + 10% target bonus. Position is incentive eligible. Total individual compensation (base salary, short & long‑term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.
Benefits include multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401(k) with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long‑Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more.
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 and join our talent community to share your preferences directly with Arch’s Talent Acquisition team.
#J-18808-Ljbffr