Berkley North Pacific has an opportunity for a Director, Product Underwriting Manager who will provide strategic direction and leadership for BNP’s Commercial business operation. This role will proactively participate with the Underwriting management team and functional department staff in developing and executing strategic plans to meet BNP’s business objectives including, but not limited to, establishing underwriting philosophies and guidelines to support the BNP business plan goals of profitability, managed growth and enhanced competitive advantage. The position will also foster a workplace environment consistent with the values and mission outlined by the leadership of the Company.
Essential Duties & Responsibilities include:
- Develops strategic vision and provides leadership for the Commercial business operation to support company goals of optimized profitability and managed growth. Assists the CUO in developing and implementing strategic objectives, underwriting strategies and underwriting best practices.
- Ensures the Commercial business unit staff has solid appreciation and understanding of BNP’s risk appetite and market differentiators thru the development of Underwriting guides, creation of new Products, identifying potential business opportunities and targets; competitive threats; and emerging market trends.
- Has Underwriting Authority over those individual risks referred by the Underwriting staff as defined by the CUO.
- Working with Actuarial, IT, Product and Filings, coordinates the execution of all Rate and Form filings on behalf of BNP.
- Oversees and responsible for the BNP Premium Audit function and relationship of other W.R. Berkley departments associated with that function.
- In conjunction with Actuarial and BNP’s Data Center, assist in evaluating the business unit’s underwriting performance as respects the primary lines of coverage and Product extensions offered.
- Develops and provides oversight for risk quality program including regional underwriting audits and peer review process. Oversee and execute the applicable SOX requirements, coordinate and be the liaison for WRBC Corporate Underwriting Audits, Reinsurance audits or audits by WRBC Corporate Auditors.
- Provides guidance and direction in the development of underwriting and training tools. Provides Product training to Underwriting staff, Claims and other departments as required.
- Participates in developing, maintaining or enhancing customer relationships to promote profitability and growth of Commercial business and the retention of existing business.
- Attracts, coaches and develops talent to ensure a staff capable of carrying out business strategies. Contributes to BNP’s success by developing departmental and individual staff goals, measuring results, rewarding achievement or taking corrective action, as necessary. Mentors staff by providing frequent and specific constructive feedback. Places emphasis on talent management and succession planning.
- Develops and maintains relationships with other W.R. Berkley Companies to capitalize on business opportunities and efficiencies.
- Performs other related duties as assigned by management.
Directly supervises Commercial Product & Underwriting Team and Premium Audit members within the Home Office Underwriting Department. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
Berkley North Pacific has an opportunity for a Senior Claims Representative in our Bellevue office. This role will investigate moderate to highly complex commercial property and casualty claims in a prompt, equitable manner by analyzing coverage, liability and damages; evaluating reserves; and negotiating settlement or conclusion of claim.
Primary Job Duties & Responsibilities:
- Examines and analyzes policies, contracts and claim forms to determine coverage.
- Investigates loss in a prompt manner by telephone, correspondence or on-site investigation to determine the extent of the Company’s liability. Negotiates settlement or conclusion of claim.
- Manages litigated claims.
- Requests necessary reports, e.g., police reports, fire reports, medical records, property damage inspections, etc.
- Utilizes independent adjusting services to assist in the claim investigation as appropriate.
- Establishes accurate claim reserves and re-evaluates exposures and reserves during the life of the claim.
- Correctly enters claim data into claim and related systems for reporting purposes.
- Collaborates with claims department staff on claim files in subrogation, arbitration and salvage recovery.
The VP Chief Actuary will provide strategic direction and leadership to the Company's Actuarial function by proactively participates with the senior management team in developing and executing strategic plans to achieve the Company’s business objectives.
Primary Job Duties & Responsibilities
- Maintains actuarial policies and standards, ensuring they are consistent with regulatory and corporate standards.
- Ensures actuarial valuations comply with all relevant regulatory, accounting and professional standards and requirements.
- Leads the completion of Rate Reviews, Ratemaking and Actuarial Indications including support of forecasting investment rate of return, underwriting expense provisions, frequency/severity and exposure trends. Innovates and improves both accuracy and efficiency in the processes.
- Leads the regular preparation of adequate loss and expense reserves estimates, including any financial information pertaining to reserves needed by the Financial Department, company management, or corporate.
- Adapts and develops rating methodologies for both existing and new company products using advanced techniques to incorporate new variables, etc., in pursuit of a competitive advantage and creation of economic profit opportunities.
- Leads the actuarial component of the company's planning processes. Collaborates on the long-range planning and forecasting of the Company to maximize Company performance over time.
- Identifies segments with profitable growth potential; identifies under-performing segments and proposes corrective actions to improve profitability.
- In conjunction with the Executive Team, evaluate and identify potential markets or opportunities external to the Company that will provide long term profitable growth.
- Performs advanced analytics and modeling techniques including but not limited to generalized linear modeling and other forms of multivariate analysis. This role is expected to build, refine and improve existing models as well as develop new techniques and applications to different areas of the company.
- Leads the innovation and efficiency efforts related to tools and analysis in support of Underwriting's pricing decisions with respect to large accounts as well as small commercial portfolio price adequacy analyses.
- Identifies, retrieves, and prepares data in support of actuarial analysis. Includes internal data and various forms of external data.
- Prepares and manages department budget and resources including explaining variances and related reporting.
- Develops and maintains relationships with other W.R. Berkley Claims Leaders to capitalize on business opportunities and efficiencies.
- Carries out supervisory responsibilities in accordance with the Company’s policies and applicable laws
- Creates a high performance culture through effective communication, quality goal setting and proactive management of performance.
- Provides regular and effective feedback, coaching and guidance. Establishes development plans for employees to address knowledge gaps and facilitate career growth.
- Partners with Human Resources to make hiring, termination and compensation decisions.
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