Private Flood Reinsurance Underwriter and Modeling Specialist
As the Flood Program Reinsurance Underwriter and Modeling Specialist, you will be responsible for the sustainable growth of the private flood business. This is accomplished by working in tandem with our team of underwriters to evaluate and price flood policies within the accepted company risk framework. In addition, you will partner with the actuarial and reinsurance teams to deliver data and metrics associated with an expanding book of business.
You will partner with management to develop and enhance our private flood products.
This includes developing views, reporting, and training/mentoring for product underwriters to reinforce product quality and promote data integrity.
What will be my duties and responsibilities in this job?
Monitor the quality of the private flood portfolio and recommend targeted geographic caps and reinsurance coverage(s).
Assist the internal reinsurance buying team by providing underwriting guidelines, underwriting audits, and data to external reinsurance partners.
Liaison with teams of exposure modeling, actuarial, data analytics, and predictive modeling to continuously refine exposure, risk selection, and pricing.
Manage external audits and compliance requests.
Contribute to evaluation of internal and external datasets to improve risk selection.
Measure and monitor key performance metrics for the private flood program (quoting activity, quote to bind ratios, average premium) and recommend specific steps to meet target metrics.
Manage new business submission flow. Provide direction to rating and operations group to develop quotes.
Train and mentor junior underwriters.
Track and audit underwriting decisions made by junior underwriters.
Constantly scan the private flood insurance market to provide market intelligence. Leverage market intelligence to recommend program changes to ensure products and programs remain competitive with limited selection risk.
Collaborate with sales, underwriting, and operations teams to ensure client service objectives are met.
Contribute to underwriting automation efforts. Provide insights on underwriting workflow and rating mechanism.
Work closely with management, actuarial, and reinsurance teams to set triggers and metrics that make sure our product continues to grow and maintains its modeled integrity.
Monitor program finance and exposure reporting and initiate underwriting corrections to be completed.
Assist in prospecting new business by developing relationships with the sales team and retail agencies.
Accompany sales team on agency visits as underwriting subject matter expert. Assist with developing agency-specific value propositions.
Develop custom solutions that cater to customer needs and the external market environment while maintaining underwriting integrity.
Referral underwriter for large commercial and residential property schedules and complex flood risk.
Leverage flood map data, and structure-specific exposure information, develop PML and loss estimates, and use sound judgment in pricing complex and large schedules of properties.
Communicate with retail agents/brokers to obtain documentation for underwriting and pricing flood risk.
What are the requirements needed for this position?
A minimum of 5 years of experience in insurance modeling or underwriting.
Advanced Excel experience
What other skills/experience would be helpful to have?
SQL expertise is highly desired
How much should I expect to travel?
Up to 10%
Pay Range:$69,800.00 - $116,400.00
Any posted pay range considers a wide range of compensation factors, including candidate background, experience and work location, while also allowing for salary growth within the position.
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