Middle Market D&O Underwriter Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.
The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
The insurance companies of Chubb serve multinational corporations, mid-size and small businesses with property and casualty insurance and services;
affluent and high net worth individuals with substantial assets to protect; individuals purchasing life, personal accident, supplemental health, homeowners, automobile and other specialty insurance coverage;
companies and affinity groups providing or offering accident and health insurance programs and life insurance to their employees or members;
and insurers managing exposures with reinsurance coverage. With $150 billion in assets and $37 billion of gross written premiums in 2014* on a pro forma basis, Chubb’s core operating insurance companies maintain financial strength ratings of AA from Standard & Poor’s and A++ from A.
M. Best. Chubb’s parent company is listed on the New York Stock Exchange (NYSE : CB) and is a component of the S&P 500 index.
Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 30,000 people worldwide.
The purpose of this role, based in Madrid, is to work closely with Financial Lines MM D&O team to maintain and develop the D&O, FI and Crime business in Spain & Portugal
The final candidate will have to set, implement and achieve underwriting profit goals in accordance with business plan.
She / he will also ensure underwriting integrity through appropriate deployment of underwriting guidelines and controls, consistency of approach towards risk selection, pricing, and use of capacity whilst recognising market conditions
The final candidate works closely with MM team in Madrid Office to increase the cross-sell opportunities with other lines of business in this segment.
Work closely with Financial Lines team, Middle Market underwriters, business development managers and Claims in assessing risks and handling the delivery of services
Completing named insured analysis, initial analysis of claims data & review financial information
Send and follow up on quotations
Ensure timely resolution of premium discrepancies
Arrange & attend broker / client visits as & when required
Building positive relationships across client and customer groups to enhance service and increase output levels
Point of contact for escalated technical underwriting issues
Create strong internal network to promote and execute cross-selling and up-selling initiatives
Utilising excellent negotiation skills to retain existing business, planning, promoting and managing the delivery of Chubb resources in a cost-effective manner
Reviewing assigned renewals to agree renewal timeline and Liaising with Brokers requesting information which is required prior to renewal
Advise the MM D&O Team Leader and Financial Lines Manager of all occasions where the renewal of an account is potentially contentious.
Deciding pricing strategy for renewal and attend renewal meetings for accounts where required
Bind renewal with broker
Reviewing policies for accuracy (Contract Certainty)
Identifying cross selling opportunities for target industry segments or lines of business
Completing worksheet and URE including final underwriting authority / approval and instructions for all renewals and new lines if appropriate
Forwarding documented booking and issuance instructions to EXL
Releasing quote to broker, including follow up, working with EXL to process any revisions
Ensuring complete electronic file integrity in Chubb internal tool : Work View. This implies keeping all relevant information (renewal application with notes or changes, underwriting notes, correspondence) correctly indexed in the electronic account
Knowledge & Experience
Bachelor Degree in Law, Business Administration, Economist or similar. Master’s degree would be a plus
Spanish and English high level both written and spoken
Portuguese would be a plus
Minimum 3 years of working experience in Financial Lines, preferably in D&O underwriting and sales with recognized knowledge of industry procedures and practices
Used to work in a Multinational Company and knowledge of Spanish Insurance Market
Negotiations ability and skills
Advance user of Microsoft office : Word, Excel, PowerPoint, Outlook
Results driven with ability to make own decisions within the scope of technical underwriting guides and developed strategy line and work on own initiative
Open mind and out of the box thinking attitude
result-oriented, experienced in negotiations with customers and a team-player with a strong client-focused approach
Excellent communication and commercial skills
High level of ethical working standards
Job Function : Underwriting