Chief Underwriting Officer

General Search & Recruitement Published:
Location
Chicago

Description

Chief Underwriting Officer -
Remote Location
Job Summary:
We are seeking a highly experienced and dynamic individual to join our team as the Chief Underwriter for a startup Managing General Agent (MGA) or Managing General Underwriter (MGU) in the commercial insurance industry. This role requires a strong background in underwriting, leadership skills, and the ability to successfully establish and grow an MGA/MGU operation.
Responsibilities:
1. Strategic Leadership: Develop and execute the overall strategic vision for the MGA/MGU startup, including establishing underwriting guidelines, risk appetite, and growth targets.
2. Underwriting Management: Oversee all aspects of underwriting operations, including risk assessment, pricing, policy issuance, and compliance with regulatory requirements.
3. Business Development: Identify and pursue new business opportunities, build relationships with brokers, agents, and other key stakeholders, and drive revenue growth for the MGA/MGU.
4. Team Building and Management: Recruit, train, and lead a team of underwriters, ensuring they have the necessary skills, resources, and support to achieve business objectives.
5. Market Analysis: Stay updated on industry trends, market conditions, and competitor offerings to inform underwriting strategies and product development.
6. Portfolio Management: Monitor the performance of the MGA/MGU portfolio, analyze loss ratios, and implement corrective actions as needed to maintain profitability.
7. Compliance and Risk Management: Ensure adherence to regulatory guidelines, internal policies, and risk management protocols to mitigate potential exposures and maintain a strong control environment.
8. Relationship Management: Foster strong relationships with insurance carriers, reinsurers, and other industry partners to secure capacity, negotiate terms, and enhance the MGA/MGU's value proposition.
9. Technology and Innovation: Collaborate with IT teams to leverage technology solutions, automation, and data analytics to streamline underwriting processes, improve efficiency, and enhance decision-making capabilities.
 
Requirements:
A bachelor’s degree in business, Finance, Insurance, or related field. Advanced degree or professional certifications (e.g., CPCU, ARM) preferred.
Extensive experience (minimum 10 years) in commercial insurance underwriting, with a focus on property and casualty lines.
Proven track record of successfully launching and leading an MGA/MGU, including building a profitable book of business.
Strong understanding of insurance market dynamics, underwriting principles, risk assessment methodologies, and regulatory compliance requirements.
Excellent leadership and team management skills, with the ability to motivate and inspire a diverse group of underwriters.
Exceptional analytical and problem-solving abilities, with a keen eye for detail and a strategic mindset.
Excellent communication and interpersonal skills, with the ability to build and maintain relationships with internal and external stakeholders.
Proficient in utilizing technology and data analytics tools to drive underwriting decisions and operational efficiency.
Demonstrated ability to adapt to a fast-paced and evolving business environment, with a focus on innovation and continuous improvement.
If you are a results-oriented, visionary underwriting professional with a passion for driving growth and building successful MGA/MGU operations, we invite you to apply for this exciting opportunity.