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Product Leader, Miscellaneous Medical
Product Leader, Miscellaneous MedicalBeazley Group • Chicago, IL, United States
Product Leader, Miscellaneous Medical

Product Leader, Miscellaneous Medical

Beazley Group • Chicago, IL, United States
2 days ago
Job type
  • Full-time
Job description

General

Job Title : Product Leader, Miscellaneous Medical

Division : Specialty Risks

Reports To : As per Beazley's organisation chart

Key Relationships : Brokers, Underwriters, Healthcare Product Leaders, Claims staff, external Clients and Suppliers

Job Summary :

To manage and develop Miscellaneous Medical products globally and assist the US and International Miscellaneous Medical & Miscellaneous Medical (MMLS) Focus Group Leaders in the development of the Miscellaneous Medical underwriting strategy.

To underwrite a US MMLS accounts 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.

FLSA : Exempt

Key Responsibilities :

Product Leader - Miscellaneous Medical

  • Monitor environmental, regulatory, economic, legal, and competitive changes to ensure Beazley's Miscellaneous Medical products are fit for purpose and market leading and identify opportunities for new products.
  • Create competitive product differentiation that assists in the building of Beazley's Miscellaneous Medical brand and facilitates the placing of new business and retention of existing business with Beazley.
  • Work with the other Healthcare Product Leaders and relevant Focus Group Leaders or alternates to develop product, underwriting, marketing and broker strategies that raise the profile and penetration of Beazley within the Miscellaneous Medical sector.
  • Work with the relevant Focus Group Leaders and the Actuarial Pricing Team in the development and maintenance of Miscellaneous Medical rating tools.
  • Work with the relevant Underwriting and Claims Focus Group Leaders in the development of underwriting guidelines as required.
  • Work with the relevant Focus Group Leaders to oversee, develop, and deliver internal and external Miscellaneous Medical product training.
  • Support development of the Miscellaneous Medical aspects of business plans working in collaboration with the Healthcare leadership group and the broader Specialty Risks division.
  • Assist in developing unique marketing plans, broker education, broker entertainment, and tools to support Beazley's Miscellaneous Medical underwriters gain stronger traction within the market.

Underwriting

  • Develop and underwrite a profitable portfolio of US MMLS business with a particular focus on Miscellaneous Medical as part of the Healthcare team.
  • 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.
  • Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
  • 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 peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the US MMLS accounts.
  • Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team 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.
  • Develop a good working relationship with the claims managers on this class of business.
  • 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 ofgood business relationships with brokers.
  • Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.
  • 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 US MMLS, Healthcare and Specialty Risks teams.
  • 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 product 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
  • Knowledge & Experience

  • General commercial and financial knowledge
  • Extensive experience in the insurance industry
  • Extensive 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
  • 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 $ 175K - $215K 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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    Product Leader • Chicago, IL, United States

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