Head of ERGO NA Underwriting

Company



Munich Re America Services



Location



New York
, United States

The preferred location for this role is New York City, NY but we are open to Philadelphia, PA and Princeton, NJ.

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

As the world's leading reinsurance company with 40,000 employees at over 50 locations in all parts of the world, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty in manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that may be climate change, major construction projects, medical risk assessment or even space travel. Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation. Sounds like you? Make it happen and be part of Munich Re.

This new function in North America will be overseen jointly by Munich Re America Services and ERGO.

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities. As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

ERGO is one of the major insurance groups in Germany and Europe. The Group is represented in over 20 countries worldwide and focuses on its core and growth markets in Europe and Asia. ERGO offers a comprehensive range of insurance policies, pensions, investments and services. With ERGO's recent acquisition of Next Insurance, ERGO is now entering the North American insurance market for the first time.

The Opportunity

The 'Head of ERGO North America Underwriting' is a critical leadership position reporting to both the ERGO Head of Global P&C and, in a matrix structure, to the GSI CUO. This role is responsible for managing the ERGO North America UW Hub and developing the commercial underwriting strategy and execution in close collaboration with the leadership across the Global P&C division to set a clear and consistent appetite, identify growth opportunities, and shape the target portfolio.

Future focused and always one step ahead!

Responsibilities:

Accountability:

• Responsible for the underwriting performance management of the ERGO P&C commercial lines of business, with a special focus on North America
• Lead the ERGO North America Underwriting Hub, driving team performance and ensuring alignment with strategic goals
• Strong alignment with ERGO's Global P&C team concerning product strategy, best practices in the technical functions and portfolio steering

Product Strategy:

• Strategic development of the global P&C commercial insurance business, including defining risk minimization measures. This also involves conducting reviews and managing strategic projects
• Ensure appropriate technical product analysis on local level (incl. monitoring of new product success and profitability segmentation of customer groups)

Steering and governance framework:

• Develop and ensure compliance with implementation of global/local guidelines
• Contribute to achieving an optimal portfolio mix by developing and utilizing product portfolio steering tools, portfolio optimization targets, and monitoring systems, while supporting the creation of methodologies and KPIs to measure and manage profitability and risk

Quality, profitability and risk adequacy:

• Develop and implement minimum standards for the local entities incl. referral- and escalation processes, with regards to Product development, Underwriting, Actuarial pricing and profitability, IBNR and case reserving, Portfolio management

• Support the ERGO Group strategic development of best practices for the Global Commercial Lines business in collaboration with specialist departments, while taking a thought leadership role in technical topics such as innovation, training, and consulting within property and casualty insurance.
• Actively contribute to cross-functional exchanges with product & underwriting, claims as well as with the Finance functions controlling and reserving, and ensure aligned perspectives on trends, profitability assessments, emerging patterns in the portfolio or claims.

Qualifications:

• Minimum of 10 years of experience in the North American P&C industry, with a focus on small commercial lines and product management, underwriting and claims functions
• Experience with working in a matrix organization of underwriters, and in-depth understanding of other technical functions like pricing, claims, reinsurance, reserving
• International P&C insurance experience in other markets are a plus
• Strategic, results-oriented leader with strong relationship-building skills
• Intercultural affinity and proven ability to work and communicate successfully at various levels in a multinational environment
• Willingness to travel within US and internationally
• Knowledge, skills and other capabilities acquired through a university degree in mathematics or economics and/ or equivalent training in the insurance industry

The Company is open to considering candidates in various locations, including New York City. The salary range posted below applies to the Company's NYC location.

The base salary range anticipated for this position in NYC is $252,700 - 370,600 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in New York City. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.