Berkley

  • Underwriting Review Leader

    Location Name NJ, Morristown
    ID
    2018-1952
    Date Posted
    3 weeks ago(9/28/2018 5:44 PM)
    Company
    WRBC Support Services
    Primary Location
    US-NJ-Morristown
    Category
    Audit
  • Company Details

    Founded in 1967, W. R. Berkley Corporation has grown from a small investment management firm into one of the largest commercial lines property and casualty insurers in the United States.

     

    Along the way, we’ve been listed on the New York Stock Exchange, seen our assets and revenue soar well past the billion dollar mark, and become a well-respected Fortune 500 Company.

     

    Today, the Berkley brand comprises 54 operating units worldwide. Still managed by our founder and largest shareholder, W. R. Berkley Corporation is well-positioned to respond to opportunities for future growth.

     

    In April 2017, W. R. Berkley Corporation celebrated the 50th anniversary of its founding.

    Responsibilities

    A leadership role with responsibility for the coordination and implementation of the underwriting review process. Extensive and diversified technical property, casualty and specialty underwriting experience will be utilized to evaluate W. R. Berkley Operating Units’ underwriting practices and procedures based on their business strategies, focus, guidelines and financial return goals. The Leader will work with a team of underwriting experts from other W. R. Berkley Operating Units or outsourced partners and communicate results and value added recommendations to Senior Management.

     

    Reviews include examination of individual underwriting files for: risk selection; underwriting; pricing, use and adequacy of rating models; wordings including coverage provided and other terms and conditions; rate rule and form compliance; limits management; use of loss control and/or risk management, use of facultative reinsurance; and quoting, binding and issuance process. In addition, the process can include an evaluation of the management of producers and distribution channels, delegated underwriting authorities, service standards, aggregations, exposures, emerging issues and interaction with claims and actuarial functions.

     

    Responsibilities:

     

    • Lead a value added Underwriting review process that provides Management with an independent assessment of the underwriting of the Operating Unit’s portfolio and/or a specific class of business.
    • Develop and maintain relationships and communication with corporate Segment Heads, Actuaries, SVP Enterprise Risk Management and SVP Claims.
    • Continuously improve the Underwriting review process and reporting procedures through automation, standardization and a current understanding of the underwriting environment, market conditions, competition and other factors facing the industry.
    • Ensure that reviews are well planned, thorough and useful and achieve the goals of confirming and enhancing underwriting, risk selection, pricing and processes at operating units
    • Maintain and improve necessary skills to conduct a review and report on the underwriting practices, pricing, and risk selection.
    • Utilize product level knowledge to consider whether the Operating Unit’s pricing and underwriting policies and other procedures are applied correctly and consistently.
    • Assess the effectiveness of the organizational structure, staffing, and management information.
    • Analyze key performance metrics in order to determine whether the Operating Units are achieving Operating Plans and goals.
    • Staff and plan the review (reviews are primarily staffed with underwriters from W. R. Berkley’s other operating units).
    • Lead interviews with departmental personnel and Senior Management.
    • Coordinate the work of the review team members.
    • Document the work performed and the findings.
    • Identify opportunities for improvement.
    • Lead closing meetings and deliver feedback.
    • Prepare written reports and recommendations.
    • Follow- up on implementation of recommendations.

     

    Qualifications

    Experience and Requirements:

     

    • Bachelor’s degree required
    • CPCU preferred
    • Accomplished commercial P&C insurance professional (over 10 years)
    • Seasoned commercial multi-line underwriting expertise
      • been underwriter and underwriting manager
      • been involved with underwriting best practices development and monitoring
      • lead underwriting quality review and file audit processes
      • knowledgeable about pricing evaluation, forms and coverage and regulatory compliance

     

    • Diversified P&C insurance experience
      • various primary insurance products
      • admitted and non-admitted
      • standard lines and specialty lines
      • treaty and facultative reinsurance

     

    Skills and characteristics:

    • Strong leader and manager with ability to manage and direct a diverse group of volunteer underwriting expert team members
    • Have presence to and experience in dealing with Senior and Executive Management
    • Good at relationship building, influencing and persuading at all levels
    • Strong project management, organization and documentation skills
    • High level of attention to detail with an inquisitive nature
    • Ability to work independently and has strong work ethic
    • Excellent communicator (verbal and written)
    • Willing to roll up sleeves and do work vs. just delegating
    • Assertive yet flexible and open minded in a professional manner
    • Excellent computer and data analytic skills
    • Creative thinking needed to improve, automate and standardize the review process
    • Independent nature. Work in an environment with no administrative support

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