Sr. Underwriting Team Leader - Financial Lines
Chicago, IL, US, 60606
Let’s care for tomorrow.
Your ambitions. Your dreams. Your tomorrow
At Allianz Commercial (AzC), we are the global leader for insuring corporate and specialty risks in the Allianz Group. Whether it’s aircraft, satellites, the world’s biggest ships and tallest building, cyber-attacks, or climate change impacts, AzC has the major risks covered when it comes to protecting businesses.
AI technology may be used to assess applications for keywords and essential qualifications. However, all AI-filtered candidate information will be reviewed by an Allianz Commercial team member, as our AI processes are subject to human oversight.
We are looking for a Sr. Underwriting Team Leader for Chicago, IL for our Financial Lines line of business..
Your Team
Allianz Commercial (AzC) specializes in corporate property insurance for the most complex and challenging risk exposures in more than 200 countries and territories. With a focus on larger international risk portfolios, we offer tailor-made 'All Risks' property damage and business interruption insurance through our global network.
Our experience speaks for itself, insuring the majority of Global Fortune 500 companies, managing over 1000 global property insurance programs, and fielding an underwriting team averaging over 20 years’ experience, backed up a worldwide team of risk consultants and claims specialists.
When it comes to underwriting insurance products for well-known famous sports venues, sports/entertainment facilities, major airlines, retail/wholesale companies, banks and manufacturers, we do it all!
The Impact You Will Have (job purpose- example below)
As a Sr. Underwriting Team Leader, you will play a pivotal role in ensuring the profitability and sustainability of our underwriting portfolio. You will lead a team of underwriters, manage key accounts, and act as a referral point for complex cases. Your contributions will directly influence our ability to meet LoB targets and maintain strong relationships with brokers and clients.
Some of your specific responsibilities could include:
Underwriting Profitable Business:
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Underwrite new and renewal accounts to meet top- and bottom-line targets.
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Negotiate participation, pricing, and terms and conditions with brokers.
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Proactively manage capacity and evaluate natural catastrophe accumulation risks.
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Underwrite international insurance programs, ensuring compliance with governance frameworks.
Underwriting Approach and Compliance:
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Ensure underwriting aligns with Financial Lines governance frameworks, including underwriting authorities, guidelines, and principles.
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Achieve contract certainty on all accounts at inception.
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Utilize global pricing tools and ensure reinsurance placement prior to policy inception.
Policy Documentation and Administration:
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Ensure accurate policy documentation is issued and maintained.
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Support policy administration and credit control processes.
Supporting Underwriting Strategy and Market Management:
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Contribute to the development and execution of regional underwriting strategies.
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Support the acquisition of new business and retention of existing clients.
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Collaborate with Market Management and other functional areas to drive initiatives.
Relationship Management:
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Represent Allianz positively in the market and develop strong relationships with brokers, clients, and stakeholders.
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Drive collaboration across functional areas such as Claims, Operations, and Risk Consulting.
Leadership and Team Development:
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Lead and manage the underwriting team, including training, coaching, and development of less experienced staff.
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Manage referrals from underwriters and re-underwrite complex cases as needed.
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Oversee the cost center budget and ensure alignment with financial plans.
What You'll Bring to the Role:
Technical Expertise:
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Proven track record in underwriting profitable business within the relevant LoB, with 7–10 years of experience.
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Advanced knowledge of risk assessment, portfolio management, pricing, and contract drafting.
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In-depth understanding of LoB products, regional insurance markets, and regulatory frameworks.
Leadership and Team Management:
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Experience managing and developing teams, with 3–5 years in a leadership role.
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Strong coaching and mentoring skills to support team growth and capability development.
Strategic and Analytical Skills:
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Ability to analyze complex data and trends to develop and implement portfolio strategies.
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Entrepreneurial mindset with a focus on driving results and innovation.
Relationship and Market Insight:
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Established relationships with brokers and a deep understanding of the local and regional market landscape.
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Strong influencing and negotiation skills to build and maintain key partnerships.
General Skills:
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Excellent communication and presentation skills, with the ability to convey ideas clearly and persuasively.
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Proficiency in IT tools such as PowerPoint, Excel, and Word.
- Experience in applying artificial intelligence (AI) and machine learning (ML) to improve business processes and decision-making is highly beneficial.
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Fluent in English; additional language skills are a plus.
Education and Certification:
· Bachelor’s degree in Economics, Law, or a related discipline.
· Completion of a professional insurance qualification (e.g., CII).
Why Join Us?
At Allianz, we foster a culture of collaboration, innovation, and excellence. As a Sr. Underwriting Team Leader, you will have the opportunity to shape the future of our underwriting operations, lead a talented team, and make a meaningful impact in the insurance industry.
If you are ready to take the next step in your career and thrive in a dynamic, global environment, we encourage you to apply!
Apply Now!
Join us in driving underwriting excellence and delivering value to our clients and stakeholders.
The annualized base pay range for this role is $125,417 to $189,483. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by a number of factors, including the scope, complexity and location of the role, the skills, education, training, credentials and experience of the candidate. The base pay is just one component of the AzC total compensation package. As part of our comprehensive compensation and highly rated benefits programs, employees are also eligible for annual performance-based cash incentive awards.
Applicants must be legally authorized to work in the United States without the need for current or future employment-based sponsorship. We are unable to sponsor or take over sponsorship of employment visas at this time, nor can we guarantee future sponsorship.
95353 | Underwriting | Professional | Allianz Commercial | Full-Time | Permanent
What’s in it for you?
Let’s care about everything that makes you, you
We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.
Let’s care for your financial wellbeing
We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.
Let’s care for your opportunities to progress
From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.
Let’s care for life’s twists and turns
From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.
Let’s care for our society and our planet
With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.
Care to join us?
Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.
Learn more about careers at Allianz Commercial by clicking here.
Learn more about Allianz Commercial by clicking here.
At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.
We therefore welcome applications regardless of race, ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.
Join us. Let's care for tomorrow.
People with disabilities:
We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com
Recruitment Agencies:
Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm.Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly. Failure to comply could/may result in the disqualification of the candidates and/or the termination of our contract and/or fees not being paid.
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Nearest Major Market: Chicago
