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Underwriting Manager - Miscellaneous Medical & Life Sciences
Underwriting Manager - Miscellaneous Medical & Life SciencesBeazley Group • Chicago, Illinois, United States
Underwriting Manager - Miscellaneous Medical & Life Sciences

Underwriting Manager - Miscellaneous Medical & Life Sciences

Beazley Group • Chicago, Illinois, United States
8 days ago
Job type
  • Full-time
Job description

General

Job Title : Underwriting Manager - Miscellaneous Medical & Life Sciences

Division : Specialty Risks

Reports To : As per Beazley's organisation chart

Key Relationships :

Brokers, Underwriters, Claims, Coverholders, external Clients and Suppliers

Job Summary :

To underwrite a Miscellaneous Medical account within the Healthcare team and provide counsel and advice on underwriting related issues. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand. Manage a team of underwriters.

FLSA : Exempt

Key Responsibilities :

Underwriting Manager

  • Develop and oversee the underwriting of a profitable Miscellaneous Medical portfolio with a focus on the Central Region.
  • Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing business, whilst working with direct reports to assist them to do the same.
  • Monitor premiums, costs and claims ratios throughout the portfolio and take corrective measures if necessary to ensure long term profitability.
  • Monitor underwriters in their daily work to ensure profitability as well as efficient and cost-effective administration of the account.
  • Work closely with claims managers to ensure team are aware of profitability and claims trends.

Underwriting

  • Develop and underwrite a profitable portfolio of Miscellaneous Medical business as part of the Healthcare team.
  • Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
  • Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the Miscellaneous Medical team, Healthcare and Specialty Risks.
  • Comply with Beazley's underwriting control standards for business written through Lloyd's, Beazley Insurance Company Inc or Beazley's internal MGAs.
  • Client Management

  • Advise, assist and service clients on insurance and risk matters to ensure clients' satisfaction.
  • Foster positive relationships with clients to get a mutual understanding of both their and Beazley's needs.
  • Maintenance of good business relationships with brokers.
  • Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.
  • Team Leadership

    As a Beazley Manager, you are expected to -

  • Provide leadership, direction and support to the team.
  • Foster a spirit of inclusion, teamwork and unity that reflects Beazley's overall workplace culture, values and appreciation of the benefits of diversity.
  • Act as a manager, mentor and coach to direct reports to enable them to fulfil their potential and ensure continuous development of them and their wider team.
  • Ensure direct reports are supported in contributing to the delivery and achievement of the overall team and business objectives.
  • Provide effective performance feedback on a regular basis, ensuring employees are recognised and rewarded for their contribution. Conversely, providing timely feedback to address poor performance, taking disciplinary action as appropriate.
  • Maintain transparent and effective communication through department meetings, one-to-one meetings, email etc.
  • Encourage knowledge sharing and effective delegation to minimise key person dependencies.
  • Work with other team managers ensuring team resources overall are effectively utilised and people are appropriately challenged.
  • Encourage direct reports to think proactively about their careers, signposting development and stretch opportunities for strong performers where possible.
  • Work with People & Sustainability as appropriate to escalate performance concerns ensuring set objectives are clear and measurable and progress is tracked accordingly.
  • General

  • Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
  • Develop best practice and disseminate business and class knowledge within the Healthcare and Specialty Risks team.
  • Work with peers within Healthcare and Specialty Risks to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
  • Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
  • Production of presentations and marketing literature as required.
  • Production of business plans / research documents for the Miscellaneous Medical account as required.
  • It is important that within all your interactions both internally and externally you adhere Beazley's core values - Being Bold, Striving for Better, and Doing the Right Thing - as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to :

  • Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates FCA and PRA Conduct
  • Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
  • Display business ethics that uphold the interests of all our customers
  • Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
  • Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley's underwriting control standards, Beazley's claims control standards, other Beazley standards and customer relationship management
  • Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups
  • Personal Specification :

    Skills & Abilities

  • Proficient underwriting skills
  • Accurate and numerate
  • Computer skills - good working knowledge of MS Office, advanced Excel skills
  • Strong analytical skills with attention to detail
  • Able to communicate effectively with others, both verbally and in writing
  • Ability to manage time, meet deadlines and prioritise
  • Motivational skills
  • People management skills
  • Knowledge & Experience

  • General commercial and financial knowledge
  • Experience in insurance industry
  • Experience of Miscellaneous Medical underwriting
  • Thorough knowledge of underwriting policy, philosophy and practice
  • Advanced knowledge of underwriting processes and systems
  • Client service experience
  • Aptitude & Disposition

  • Result focused, self-motivated, flexible and enthusiastic
  • Professional approach to interact successfully with managers / colleagues / external suppliers
  • Team worker as well as able to work on own initiative
  • Customer focused, with a strong ethic of service and fairness to the customer
  • Competencies

  • Achievement drive
  • Analytical thinking
  • Strategic thinking
  • Service focus
  • Team working
  • Forward thinking
  • Developing people
  • Conceptual thinking
  • Essential Criteria

  • Minimum 10 years of underwriting experience in healthcare-related insurance segments such as Miscellaneous Medical, Allied Healthcare, or Healthcare Professional Liability, including risk assessment, pricing, and portfolio management.
  • Advanced analytical and financial skills with the ability to interpret underwriting guidelines, perform exposure evaluations, and make data-driven decisions.
  • High proficiency in Microsoft Excel (including pivot tables, VLOOKUP, and complex formulas) and strong communication skills for negotiating terms and presenting underwriting decisions to brokers, clients, and internal stakeholders.
  • Who We Are :

    Beazley is a specialist insurance company with over 30 years' experience helping people, communities and businesses to manage risk all around the world. Our mission is to inspire our clients and people with the confidence and freedom to explore, create and build - to enable businesses to thrive. Our clients want to live and work freely and fully, knowing they are benefitting from the most advanced thinking in the insurance market. Our goal is to become the highest performing sustainable specialist insurer.

    Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.

    Our Culture

    We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 of us working around the world. Employee's diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.

  • Be bold
  • Strive for better
  • Do the right thing
  • Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us - our ambitious inclusion & diversity and sustainability targets are testament to this.

    We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.

    Explore a variety of networks to assist with professional and / or personal development. Our Employee Networks include :

  • Beazley RACE - Including, understanding and celebrating People of Colour
  • Beazley SHE - Successful, High potential, Empowered women in insurance
  • Beazley Proud - Our global LGBTQ+ community
  • Beazley Wellbeing - Supporting employees with their mental wellbeing
  • Beazley Families - Supporting families and parents-to-be
  • We encourage internal career progression at Beazley, giving you all the tools you need to drive your own career here, such as :

  • Internal Pathways (helping you grow into an underwriting role)
  • iLearn (our own learning & development platform)
  • LinkedIn Learning
  • Mentorship program
  • External qualification sponsorship
  • Continuing education and tuition reimbursement
  • Secondment assignments
  • The Rewards

  • The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, dynamic organization
  • Attractive base compensation and discretionary performance related bonus
  • Competitively priced medical, dental and vision insurance
  • Company paid life, and short- and long-term disability insurance
  • 401(k) plan with 5% company match and immediate vesting
  • 22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs
  • Up to $700 reimbursement for home office setup
  • Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
  • Up to 26 weeks of fully paid parental leave
  • Up to 2.5 days paid annually for volunteering at a charity of your choice
  • Flexible working policy, trusting our employees to do what works best for them and their teams
  • Salary for this role will be tailored to the successful individual's location and experience. The expected compensation range for this position is $150,000 - $200,000 per year plus discretionary annual bonus.
  • Don't meet all the requirements? At Beazley we're committed to building a diverse, inclusive, and authentic workplace. If you're excited about this role but your experience doesn't perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.

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