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AVP Program Business Underwriter - MGA

Date: May 1, 2021

Location: Chicago, US

Company: SCOR

     Americas     

Chicago United States (US) 

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AVP Program Business Underwriter - MGA 

Permanent 

Underwriting 

 

 

          About SCOR         

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Using its experience and expertise, “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – in Life & Health insurance as well as in P&C insurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.

 

Job Summary

As an insurance professional with experience in P&C Commercial Lines and/or Program Business you will be a key member of the Program Business Team contributing to strengthening the portfolio of the Program Business Unit by producing, underwriting and managing programs with a focus on SME target business

 

You will be responsible for producing new programs in accordance with the formal business plan of the Program Business Team within the corporate objectives of SCOR strategic plan (i.e Quantum Leap).

 

You will be monitoring assigned programs, tracking, and analysing Key Performance Indexes (KPIs), ensuring profitability criteria are met. You will also ensure the overall activity of the MGA remains within compliance principles.

 

To assist you in achieving your objectives, you will benefit from dedicated support functions like Claims, Legal, Pricing, Modelling, as well as allocated resources from Finance, Technical Accounting, Reserving, Risk Management…

 

As a team player with effective communication and project management skills you will work with all these internal stakeholders with whom you are expected to coordinate actions on the respective programs.

 

Overall, you are expected to coordinate underwriting and reporting actions with all relevant stake holders within Specialty Insurance Portfolio Underwriting and the various entities of the SCOR Global P&C Division.

 

You will be contributing to onsite and desk audits, assessing organizational structures, operations, and underwriting performance of new business opportunities as well as existing programs.

 

Finally, you are expected to actively promote the SCOR franchise through direct support to the Program Business Team initiative in conjunction with SCOR’s strategic plan through focused marketing actions and selective underwriting.

     

 

Key duties and responsibilities

 

MGA and Program Business Underwriting

 

•           Ongoing commercial line program business written on surplus line or admitted basis

o          Reconciliation of in-force premium bordereaux with claims bordereaux and payment remittances to ensure the validity of claims ceded.

o          Coordination with all appropriate support function teams involved in the management of these programs (underwriting, pricing, claims, legal, technical accounting, finance, reserving, risk management, Underwriting management)

o          Perform underwriting audits

o          Coordinate claims, transactional and CAT modelling audits as needed

o          Provide quality, detailed and timely reports of ongoing performance of MGAs

 

•           In respect of new business opportunities, responsible to:

o          Formulate business cases with appropriate structures and terms and conditions, to be submitted to Senior Management and Underwriting Management for approval.

o          Draft and/or evaluate contract wording, in coordination with all appropriate SCOR Global P&C teams (underwriting, pricing, claims, legal, technical accounting, finance, reserving, risk management)

o          Negotiate contract wording and terms and conditions with prospect MGA and TPA, in conjunction with the legal and claims departments

o          Contribute to ad hoc due diligence teams for new deal evaluation and onboarding of new MGAs

 

 

MGA and Program Business Management

 

•           Contribute to the development and implementation of the SCOR Program business strategy under the leadership of the CUO and UW Manager

•           Collaborate with the Program Underwriters, on audits, referrals, new business Due Diligence and other tasks as may be needed through the “Lead and Deputy” system.

•           Suggest portfolio steering actions, innovation in product and process and profitability improvement actions

•           Responsible to monitor data produced by distinct MGAs (bordereaux), through the use of SCOR MGA platform, and ensure compatibility with SCOR administrative systems (ALPHA, OMEGA, OPENPAGE…)

 

Marketing Activities

 

•           Perform marketing trips to Agent’s or broker offices

•           Attend industry conventions to promote SCOR and develop business relationships (i.e. Target Market, WSIA…)

•           Support origination efforts with existing market experience and relationships

 

 

Compliance and Control Activities:

 

•           Contribute to quarterly closing process and audits, both internal and external

•           Adherence to all licensing and other legal and regulatory requirements

•           Adherence to SCOR ERM principals and requirements

 

 

 

 

 

Required experience & competencies

 

Experience: 

 

5+ years of (re)insurance experience with a strong focus on underwriting. Experience in program business management highly desirable.

 

Skills:

 

Experience managing ad hoc teams in a matrix type environment. Ability to identify required resources and manage them in a way to achieve desired outcomes. 

 

 

Personal Competences:

 

•           Superior account management skills,

•           Strong business and financial acumen and underwriting expertise

•           Excellent analytical and portfolio management skills

•           Strong presentation skills with ability to bring resources together to achieve desired outcomes. 

•           Excellent verbal and written communication skills

•           IT literacy a must

•           Exceptional team player while capable of operating independently

•           Able to work in teams and operate collaboratively in a matrix organization

•           Self-motivated

•           Project management skills an advantage

 

 

 

 

 

Required Education

 

   College degree preferred

   Post-graduate degree and/or industry certification/designation a plus 

 

Please contact your HR team should you have any question.


Nearest Major Market: Chicago