Underwriting Specialist - Property

We are looking for an Underwriting Specialist for our office in Chicago for our Property 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

Reporting to the Regional Property Leader - Midwest, this position will play a pivotal role in driving profitable growth and ensuring the sustainability of our underwriting portfolio. You will be responsible for underwriting complex new and renewal business, managing large accounts, and contributing to the development of underwriting strategies. Your expertise will help strengthen relationships with brokers and clients, while also mentoring and developing less experienced team members. By leveraging your specialized knowledge and leadership skills, you will help maintain Allianz's position as a trusted leader in the insurance market.

Some of your specific responsibilities could include:

Underwriting Profitable Business

• Underwrite new and renewal accounts to achieve top and bottom-line targets.
• Negotiate pricing, terms, and conditions with producers.
• Proactively manage capacity and evaluate natural catastrophe accumulation, ensuring a strong understanding of catastrophe modeling and scenario interpretation.
• Underwrite international insurance programs and ensure alignment with global standards.

Underwriting Approach and Compliance

• Ensure underwriting aligns with governance frameworks, including underwriting authorities, guidelines, and principles.
• Achieve contract certainty on all accounts at inception.
• Utilize global pricing tools effectively and ensure the placement of facultative reinsurance prior to policy inception.

Policy Documentation and Administration

• Ensure accurate issuance of policy documentation and maintain organized files for each risk and transaction.
• Support policy administration processes, including credit control and premium bookings.

Underwriting Strategy & Leadership

• Contribute to the development and execution of regional underwriting strategies.
• Provide training, coaching, and mentorship to less experienced underwriters.
• Manage complex referrals and re-underwrite business as necessary.

Market and Relationship Management

• Drive the acquisition of new business and retention of existing clients through proactive negotiations and relationship management.
• Represent Allianz positively in the market and foster strong relationships with brokers, clients, and other stakeholders.

What You’ll Bring to the Role

• Minimum 3-7 years of experience in underwriting, with a proven track record of managing profitable business.
• Familiarity with working in a complex, global matrix organization.
• Significant experience in underwriting profitable business within the Line of Business (Large Commercial Property).
• Proven ability to assess risk exposures, including natural hazards, and apply catastrophe modeling insights.
• In-depth knowledge of regional and local insurance markets, competitor landscapes, and global underwriting standards.
• Strong analytical skills to evaluate complex data and resolve issues proactively.
• Advanced communication and presentation skills to express ideas clearly and persuasively.
• Influencing skills to motivate others and drive results without direct authority.
• Robust understanding of policy administration, contract drafting, and interpretation.
• Bachelor’s degree in Economics, Finance, Insurance Management, or Business Administration (preferred).
• Completion of professional insurance qualifications (e.g., CII).
• Ability to utilize AI tools to support day-to-day tasks, improve efficiency and contribute to data-driven decision making.

The annualized base pay range for this role is $106,983 - $161,690. 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.

94636 | Underwriting | Professional | Allianz Commercial | Full-Time | Permanent