The Life Science Products Specialist, a key contributor within the Berkley Life Sciences organization, is responsible for underwriting complex products liability accounts, training the underwriting staff and project management. Collaborates with leadership and directs teams and partners to assure strategic, operational and developmental goals of the functional area are met.
Location: Flexible Naperville, IL; Ewing, NJ or another Berkley office
Specific Duties and responsibilities include but are not limited to:
- Underwrite and maintain a small book of complex products liability accounts
- Design and develop products liability training programs, materials and curriculum; administer training to the underwriting staff based on skill gaps and career paths
- Products Liability Referral Underwriter
- Project Management- ensure the coordination and completion of all activities within the scope of an assigned project; adhere to deadlines; monitor and summarize progress.
- Assistance with placement of international life science business and possible assistance with international Berkley companies
- Support Berkley Transactional in their Life Science M&A deals
- Assist underwriters and Legal in addressing issues related to contract wording
- Draft and update underwriter authority templates
- Identify, update and implement any needed changes to underwriting strategies, guidelines and protocols
- Travel to support field with broker presentations
- Participate in development of marketing support for product offerings
- Ensure that general processing and quality of policy construction complies with guidelines
Under the direction the AVP, Field Operations Manager, the Life Sciences Associate (LSA) is responsible for the new business and renewal research, analysis, and service of business for an assigned group of producers. Location: Flexible – Naperville, IL or Ewing, NJ.
Specific duties include but are not limited to:
- Assist Life Sciences Specialists with daily operations; research, quote and bind new and renewal business and document as per established guidelines.
- Review all new line/endorsement submissions and stay within applicable binding authority
- Drive renewal process, review upcoming renewals, work with producers to obtain and evaluate all underwriting information, prepare for renewal for the Life Sciences Specialist
- Develop information and recommendation based on account analysis
- Identify opportunities for account rounding.
- Review account/policy rating instructions, risk analysis and provide new and renewal quotes
- Work collaboratively and effectively with the specialists, operations, legal, home office underwriting and claims
- Provide technical support to producers and specialists.
- Stay current with all compliance, procedural and workflow changes.
The Chief Underwriting Officer, a key contributor within the Berkley Life Sciences organization, is responsible for the strategic planning and overall management of the underwriting function enabling long term profitable growth of all products. This includes accountability for rate, pricing, commission strategies, review practices and other related actions which drive the financial results. The CUO will establish internal procedures and criteria to control risk and developing the annual operating plan objectives (top and bottom line) and long-term strategic plan. Ideal location is Ewing, NJ. Under the direction the President the Chief Underwriting Officer’s primary responsibilities include but are not limited to:
- Management of Company and Account Loss Exposure
- Portfolio management to reflect an appropriate balance between segments and diversification of line of business
- Cycle management- devise strategies and protocols to grow profitably during all market cycles
- Develop and direct the responsible product development, communication and training efforts that are consistent with business strategies which ensure new products and services and/or programs are compatible with systems and operational capacity and are consistent with BLS’s profit, growth and retention goals.
- Establish policies and direct the analysis of information to support the development of products, services and/or new programs (i.e., research and identify target business, competitor information, analyze industry and economic factors, etc.)
- Develop and ensure effective utilization of detailed monitoring standards to assess underwriting results on production and loss results down to the account level (i.e., profitability analysis, quarterly loss trends, utilization/productivity, etc.) and takes corrective action as necessary.
- Assist in the maintenance of forms and rate filings for specific segments of business. This includes working with the state filings and actuarial/regulatory staff to prepare initial form and rate filings as well as subsequent related responses to Insurance Departments
- Provides relevant training and development opportunities.
- BLS representative for renewal of corporate reinsurance treaties
- Primary representative for renewal of BLS specific reinsurance treaties
- Oversee handling of individual account treaty acceptances
- Development, implementation, and update of underwriting guidelines including applications, pricing tools, etc.
- Development, implementation, and maintenance of authority statements. Drafting of authority for other department managers and any MGA relationships.
- Lead for internal underwriting audit
- Implementation and Management of internal underwriting compliance controls
- Management of company accumulations
- Develop and maintain effective relationships with internal resources (i.e., Claims, Operations, Systems, Reinsurance, etc.) to ensure delivery of all related services to clients.
- Manages the budget, maintaining cost controls, expense management, and standards