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About Berkley Asset Protection
Berkley Asset Protection, a Berkley company, is hiring for the position of Junior Underwriter in its New York City office. The job location is New York City and reports to the Assistant Vice President of Underwriting. This is an entry level position with potential career path to a full underwriting position.
Berkley Asset Protection was established in 2008 to deliver the industry’s most complete and high quality portfolio of specialized insurance products and services to protect fine art, jewelry and other high-value personal and commercial assets. We support the market through close partnerships with an established distribution network of retail and wholesale insurance professionals. Our brokers and agents cater to a global base of clients in a variety of environments, including private and corporate art collections, museums, galleries, and exhibition, jewelry wholesalers, retailers, and manufacturers, along with those who work with collectibles, currencies, securities, and other high-value assets. Our claims and loss control operation is the undisputed gold standard for the entire fine art and jewelry insurance industry.
About the job
Our culture is one of innovation, creativity and teamwork. Our team is highly motivated, passionate about our business, and deeply experienced in developing and delivering product and service solutions to personal and commercial customers.
What you will do
- Work with underwriter(s) to learn and review risk management reports to identify and recommend risk management solutions and requirements
- Shadow underwriter(s) to understand the daily role of communication, risk selection and work priority
- Work with underwriter(s) to understand our Jewelers Block risk appetite in terms of profitable Block business versus challenged Block business
- Conduct deep dive research into customers (both brokers and insureds) and their risk characteristics
- Be well versed in the underwriting assistant responsibilities which include:
- Prepare underwriting transactions, including renewals, new lines and endorsements
- Review and follow up for required documentation and signatures
- Process administrative changes including broker of record, non-renewals, cancelations, reinstatements and other changes
- Complete quotes on business submitted by agents and brokers
- Complete data entry and/or upload of large schedules and customer other data
- Resolve discrepancies from third party data reports
- Projects and other duties as assigned
The Middle Market Underwriter builds dynamic relationships, maintains a strong distribution channel, drives written premium growth, and maximizes renewal retention while delivering a high degree of customer satisfaction within our footprint of Independent Agencies. Duties and responsibilities include but are not limited to:
- Strengthens relationships and educates agents within agency plant to maximize opportunities and achieve profitable growth.
- Achieves new business premium, renewal premium retention and rate change objectives
- Within company guidelines and granted underwriting authority, evaluates new and renewal information to determines risk acceptability terms/conditions to be quoted, and priced.
- Utilizes various underwriting tools to: determine acceptable risk characteristics; determine accurate exposure classifications; set adequate property limits to accomplish appropriate insurance to value and rate and quote business to agents
- Orders and reviews inspections to confirm accounts written are consistent with preliminary underwriting information and take action when the inspection reveals unacceptable risk characteristics.
- Determines if facultative reinsurance is needed and if so, factors reinsurance cost in gross pricing, completes cession procedures; documents file and follows established workflow procedure to ensure proper reporting / accounting.
The primary responsibility of the Third Party Risk Management Analyst position will be to conduct formalized Information Security risk assessments of Third Parties, focusing on Information Security and Data Privacy controls. The position will participate as needed in all aspects of TPRM lifecycle starting with information gathering process, due diligence/documentation review, assessing risk including formalized risk analysis and identifying potential gaps and providing security solutions to mitigate risks. This position will interact with individuals all throughout the company as well as third parties.
Primary Duties & Responsibilities:
- Review services and data in scope of the assessment and analyze engagement risk ratings
- Conduct formal end to end Information Security Risk Assessments (review of questionnaires, third party security audit reports and evidence, onsite assessments, etc.)
- Document risk assessment in a formal report, including any identified deficiencies in third party’s Information Security program.
- Work together with the TPRM team and stakeholders to review the assessment and escalate any issues. Work with operating units and partners to get additional information and to properly vet any issues prior to finalizing the report.
- Review and analyze evidence supporting deficiency remediation efforts prior to closure.
- Assess remediation plans and non-compliance acceptances where Information Security standards compliance cannot be achieved.
- Keep assigned review inventory in the system of record up-to-date
- Partner with other Information Security teams, operating units and IT, to ensure that risks are clearly articulated in a manner that is understood by business and technology audiences
- Participate in and influence Third Party Risk assessment process improvement, including procedures, processes, project deliverables and reporting initiatives
- Build and maintain positive relationships with management, team members, and stakeholders across the company using effective written and oral communication practices.
- Serve as a subject matter expert and process ambassador as it relates to TPRM related processes, procedures, and workflows
- Other duties and special projects as assigned
· Travel expected -10% or less
- The major objectives for this position are: 1) add value to the department by providing assistance to the Senior Actuary 2) provide support to other functional operations by performing analysis within designated business segments to assist business decision making, financial planning, and strategy development, and 3) maintain a commitment to professional education through the CAS actuarial exam process and build a foundation of knowledge of the property and casualty industry.
- Provide pricing and loss rating support to underwriting divisions
- Contribute to current projects
- Contribute to annual program reviews for casualty divisions
- Assist with management reporting and portfolio management functions such as rate change reporting and aggregation analyses
Berkley One, a Berkley company, is hiring an Agency Experience Manager to support the development of various marketing, branding and sales programs. This job will support growth in our Central region. Candidate can reside in IL, IN, MN, MI, or OH.
This role, an important individual contributor to the Berkley One brand, will be responsible for driving successful, productive relationships and growth with our agency partners and other networking partners. The ideal candidate will have experience contributing to successful marketing strategy and delivery.
The ideal candidate for this role will have a background in insurance and developing relationships with agencies. They will have spent time in underwriting or similar role and are now looking to take on more responsibility in a field facing position with a top tier insurance carrier.
What you will do
In collaboration with and at the direction of the Vice President Agency Experience Manager and Senior Vice President of Marketing & Distribution:
- Execute agency management strategies, including distribution management activities, in order to meet or exceed growth and profit targets by state and by agent/broker.
- In assigned geography, identify and appoint new agent/broker partners who will positively contribute to the growth of Berkley One.
- Lead agency business planning, including new business, retention, hit ratio, profit, efficiency and other targets.
- Execute activities and projects relative to business development, lead generation, networking and events, campaign management and brand building.
- Travel throughout the Central Region (which could include IL, IN, MI, MN, OH, TN & WI) is required (40%).
In collaboration with inside sales:
- Provide quote coaching and other new business assistance to agency partners.
- Track agency partner financial performance and pro-actively adjust strategies and tactics to leverage opportunities, revenue generation and the establishment of the Berkley One brand.
- Build successful connections between agency partners and relevant Berkley One functions in order to deliver exceptional customer service.
- Contribute to build of distribution capabilities in support of Berkley One’s business strategies and goals.
The Director, Actuarial Pricing assists the Chief Actuary in managing the actuarial department, with focus on pricing and modeling. This role will help with growing a profitable book of business within Berkley Professional Liability, meeting operating unit and corporate requirements. Duties and responsibilities include but are not limited to:
- Build and maintain predictive models to help with pricing benchmarks and strategies
- Work closely with underwriters and senior management to price Large Accounts
- Conduct data analysis on industry data from 3rd party vendor
- Conduct market research; report and present market trend studies and rate monitoring
W.R. Berkley Corporation is seeking a highly motivated, self-managed individual to join our Internal Audit Department. In this role you will plan and conduct high quality, risk-focused audits of Operating Units and Corporate Processes. You will have the opportunity to work closely with Operating Units both in learning the business and testing controls all while building relationships with key stakeholders. You will conduct audits in accordance with Internal Audit Policies, methodologies and standards to identify meaningful issues, risks and other exposures within Finance and Operational areas. This individual is a key member of the Internal Audit Department who takes ownership and pride in their work and the success of the team.
- Participate in and/or lead audits which includes: contributing to and/or leading the pre-audit planning process, exercising professional skepticism in evaluating and analyzing evidentiary evidence as a base to make an objective decision on the effectiveness of internal controls.
- Prepare and lead effective walkthroughs to gain an understanding of the financials and/or operational process(es) being audited. This includes documenting walkthrough results via narratives and flowcharts for financial and operational processes.
- Analyze data from Operating Units to identify and interpret trends and patterns to provide meaningful insights in the audit process.
- Partner with operational audit teams to perform audits of financial, operational and other business risk areas for adequate management controls, efficiency, and compliance with policies, regulations and accounting principle.
- Design audit programs or audit steps as it relates to new audits in accordance with professional audit standards.
- Follow up periodically with the Operating Unit in regards to the action plan progress taken by the Operating Unit until issue remediation.
- Learn new businesses, processes and regulations effectively and quickly.
- Communicate well with clients and Audit team members.
- Engage in relevant training regarding audit, businesses, financial controls, regulations or a particular specialty.
- Must be able to quickly assimilate new information in order to analyze the risks and controls effectively.
- Identify problems that are not consistent with past audits and begin to structure a solution or remedy to address issue(s).
- Staff at this level will be expected to own sections of the audit program and bring them to completion with minimal supervision.
- Appropriately analyze control environment and develop effective audit steps to test controls where necessary in line with internal audit methodology.
- Drive efficiency and effectiveness of financial and operational audit testing and reporting to help manage department costs
- Work independently and in a team environment to maximize performance
- Demonstrate leadership through engagement, personal development and fostering a spirit of continual improvement.
- Participate in special projects as assigned by management.
- Maintain audit proficiency through self-study, training and professional association memberships.
This position will support designated underwriters and their agents with lower risk transactions including but not limited to new business, inspections, endorsements, renewals and audits.
- Review and Underwrite new and renewal business submissions for acceptability according to authority granted.
- Make sound risk and pricing decisions that achieve profitable loss ratios.
- Maintain underwriting quality score of 90% or greater. Document underwriting file to support acceptability and pricing in accordance with company guidelines.
- Achieve designated customer service standards.
- Provide detailed issuance instructions to ensure policy is delivered consistent with quoted terms and conditions and in accordance with established guidelines relative to policy construction.
- Review mid-term endorsement requests for acceptability up to the authority granted.
- Review inspections to confirm accounts written are consistent with preliminary underwriting information and refer to underwriter when the inspection reveals unacceptable risk characteristics.
- Utilize various underwriting tools to determine acceptable risk characteristics, accurate classifications, insurance to value, calculate rates, etc.
- Review audits and refer to underwriter based upon authority granted
To evaluate (selection and pricing) and maintain (control) risk acceptability and profitability within the company’s underwriting guidelines and procedures for commercial risks with a focus on non-admitted primary and excess Miscellaneous Professional Liability. Manage and maintain good Wholesale Broker relationships. Meet and maintain the production, profitability, and service standards established for the company.
- Adhere to underwriting authority level as per on file with Manager.
- Gather underwriting information to properly evaluate commercial risks for acceptability within company guidelines. Underwrite for profit.
- Meet/Exceed production, profitability, and service targets.
- Ability to research and solve more complicated problems and make decisions.
- Determine final coverages and pricing for commercial risks.
- Review claims and loss information on individual risks. Use this information to identify and re-evaluate accounts and develop strategy for dealing with exposures and frequency issues.
- As a team with the Manager, manage the portfolio profitability and identify favorable and unfavorable classes of business.
- Maintain quality and time standards as established.
- Be informed/knowledgeable of industry issues and activities through formal educational processes to develop underwriting skills.
- Identify and cultivate brokers with new business opportunities.
- Other duties as assigned
The Windows Systems Administrator is responsible for the implementation and support of Windows Server based operating systems and various applications, hardware and software platforms. Regular job responsibilities will involve supporting a variety of technologies, customer and team driven projects, handling trouble tickets on a priority basis, lifting/moving heavy server and other related equipment, participation in tasks related to helpdesk and desktop support service orders required to meet customer needs, and supporting international business units. Some travel may be required. A comprehensive performance management plan will involve the identification, discussion and implementation of personal and business related objectives and goals aimed at career and team development.
Primary Duties & Responsibilities:
- To communicate with technical and non-technical individuals and teams
- Work in a fast paced and dynamic production environment
- Must be able to work independently with little supervision
- Handle multiple tasks and projects with various and changing levels of priority
- Provide technical support and direction to individuals and teams
- Build, configure, install and cable servers, rack and related equipment
- Work irregular hours and on call rotation to meet business requirements
- Strong customer service focus and sense of urgency
- Superior problem solving and analytical skills
- Dependable, self-motivated, organized, strong verbal and written communication skills
- Ability to travel internationally a real plus.
- Responsible for processing new account submissions and renewals, account clearance and OFAC, including assigning appropriate agency data
- Communicate as needed with brokers to obtain information for underwriting and related transactions (i.e. quotes, subjectivities, renewals, endorsements and cancellations).
- Set up electronic files, update logs and systems, email policies
- Assist in the cancellation/nonrenewal process
- Policy issuance quality review
- Responsible for issuing all midterm endorsements for accounts
- Facilitate broker of record changes
- Backup support for claims assistant, including loss runs
- Transfer data and documents from third party underwriting portal to company underwriting system
- Request, rocess and maintain accurate data and documentation from third party business partners
- Handle transactions in a timely and professional manner, and maintain positive relationships with customers and brokers
Responsible for performing the analysis required to support the development, maintenance and enhancement of applications used by the company and its business partners. Reviews, analyzes, and evaluates business systems and user needs. Document requirements, tests system functionality, defines scope and objectives, and formulates systems to support key business processes. Act as a liaison between IT and other business departments.
Berkley Small Business Solutions is a newly formed operating unit within WR Berkley. The new operating unit will offer commercial insurance products for small businesses through a modern technology platform that leverages data and analytics to deliver a superior customer experience.
The right candidate will collaborate with business and technology subject matter experts to contribute to the design, development and implementation of electronic underwriting capabilities ￼siness processing to ensure profitability targets are met or exceeded.
Essential Duties & Responsibilities:
- Challenge the status quo of traditional underwriting and contribute to the creation of an automated underwriting eco system
- Evaluate current/ongoing industry capabilities relating to product, underwriting, technology to inform critical focus areas for the future
- Collaborate with actuarial and data science teams to identify and implement methods for pricing risk beyond traditional methods
- Partner with UI design team to influence the overall capabilities and functionality of the UI user experience
- Define and implement web metrics required to objectively measure User Experience and identify opportunities for improvement
- Prioritize opportunities to improve UI functionality, develop and present cost/benefit analysis to secure required resource/funding support
- Partner with regional operating companies to implement identified strategies, capabilities, and process improvement
- Demonstrates the WRBC Core Competencies and Innovation Behaviors while performing the Essential Duties and Responsibilities.
Measures of success:
- +20% - 30% improvement in new business growth (policy/premium) compared to current run rate
- Completely automated underwriting, bind, and issuance process for selected LOB’s and classes
- Submission process for the selected LOB’s and classes in 7 minutes or less
- Establish a continuous feedback loop; Agent, Associate, Customer, to foster continuous improvement
- Our Quality Assurance team members understand our customers’ experience, processes, and needs and use that knowledge to evaluate and deliver the highest level of quality in released software.
- You collaborate with your teammates to identify and confirm potential problems and constantly design better and creative ways to seek out and resolve issues.
- You understand the importance quality has in helping elevate the performance and achievement of teams through defining and tracking quality standards as a measurement of success.
- You will actively participate in sprint planning meetings and collaborate with project team members to identify risks/impacts in the system to be tested
- You will assist senior team staff in building and applying testing best practices
- You understand test data is fundamental to successful test execution and you will participate in preparing and grooming test environment data to ensure accurate test results
- You will demonstrate your skill at generating test scenarios from user stories and acceptance criteria
- You are familiar with test automation frameworks/processes and will work to integrate those as part of the overall test strategy.
The Vice President, Transactional Risk Underwriter will underwrite all aspects Representations and Warranties Insurance for Global Financial and Strategic Buyers acquiring North American Targets in most industry segments. Underwriting will occur on deal time and underwriting decisions will be made in a commercial fashion while maintaining underwriting discipline. The Vice President will develop their own “personal brand” among brokers, buyer counsel and buyers in order to win business.
Berkley Transactional is a division of Berkley Professional Liability. Our Mission is to provide creative and customized insurance solutions that enable buyers and sellers in M&A transactions to execute their transactions efficiently and effectively. We provide seamless execution, professional interaction, stable capacity with fair pricing, reliable coverage and professional claims handling.
The Actuary or Senior Actuarial Analyst may be responsible for completing Rate Reviews and Actuarial Indications, participating in company’s planning processes, and providing tools and analysis in support of pricing adequacy. These activities are to be completed with more independence, proactively, and demonstrate a working knowledge of the core principles and standard actuarial techniques.
- Lead regular LOB and segment deep dives to identify drivers of performance and develop actionable rate and non-rate recommendations to ensure the path to target returns
- Identifies, retrieves, and prepares data in support of actuarial analysis through SQL, SAS, and other data sources. Includes internal data (exposure, premium, loss, claims, price, etc.) and various forms of external data (bureau loss costs, bureau trends, macroeconomic data, market share, market pricing, etc.)
- Ensures the accuracy and suitability of data for the business need at hand. Manipulates data, performs analysis and interprets data through Excel or other analytics platforms and presents recommendations.
- Completes Rate Reviews, Ratemaking, and Actuarial Indications including support of forecasting investment rates of return, underwriting expense provisions, frequency/severity and exposure trends. Gains management support for recommended changes.
- Works with Cross functional teams to identify segments with profitable growth potential; identifies underperforming segments and proposes corrective actions to improve profitability.
- Take a leading role in the development, maintenance and implementation of various actuarial pricing models.
- Provides tools and analysis in support of Underwriting’s pricing decisions with respect to large accounts as well as different business segments in our book.
Provides support to adjusters and related team members while developing the skills and knowledge necessary to investigate and resolve high frequency, low severity Worker's Compensation claims in a prompt, equitable manner via investigation.
- Answers calls received from the Customer Experience Center and assists caller or directs call to appropriate claims staff. May assists agents, policyholder and claimants with questions related to claims handled by others on the line-of-business team.
- Learns and becomes adept at examining policies, contracts and claim forms to determine coverage for routine matters. Investigates loss, evaluates exposures, and establishes accurate reserves on high frequency, low severity commercial claims within established authority level. Denies or negotiates and settles claim. Correctly enters claim data into claim and related systems for reporting purposes. Re-evaluates exposures and reserves during life of the claim.
- Reviews new losses received by Claims Department to determine type and level of loss. Makes initial contact with insureds and/or claimants to obtain additional information related to the claim if necessary. May assign claims to Claims staff based on analysis of exposure.
- Reviews data and creates Excel spreadsheets to assist management with expenses, portal and goal management.
- Based on the needs of the business unit, performs administrative support functions that may include preparing routine correspondence, processing payments, completing routine forms for submission to State and National regulatory agencies and testing production system releases.