Underwriting Specialist - Property

Job Level: Professional

Location:

Los Angeles, CA, US, 90071 San Francisco, CA, US, 94111 Seattle, WA, US, 98101

Area of Expertise: Underwriting

Unit: Allianz Commercial

Employing Entity: Allianz Global Risks US Insurance Compan

Job Type: Full-Time

Remote Job: Remote working

Employment Type: Permanent

ID: 104102

Position Cluster: Non-Executive

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 an Underwriting Specialist in California 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 (job purpose- example below)

As an Underwriting Specialist, you will play a critical role in driving profitable growth for Allianz Commercial. You will underwrite new and renewal business to meet Line of Business targets regionally—including global elements—while taking ownership of large accounts and client relationships. Your expertise will directly influence pricing strategies, terms and conditions negotiations, and capacity management. You will also serve as a mentor and referral point for underwriters, helping to develop the next generation of talent while contributing to the execution of our regional underwriting strategy. 

Some of your specific responsibilities could include:

Underwriting Profitable Business

Underwrite new and renewal accounts to meet top and bottom line targets

Negotiate price and terms and conditions with producers

Proactively manage capacity

Underwrite and evaluate Natural Catastrophe Accumulation, ensuring an understanding of catastrophe modeling and interpretation of scenarios (for relevant LoBs)

Underwrite International Insurance Programs (for relevant LoBs)

Underwriting Approach and Compliance

Underwrite in line with LoB governance framework (e.g., Underwriting Authorities, global MSU, Underwriting Guidelines, Rules and Principles)

Ensure contract certainty is achieved on all accounts at time of inception

Ensure utilization of global pricing tools

Ensure placing and binding of FAC Reinsurance prior to policy inception

Policy Documentation and Administration

Ensure accurate policy documentation is issued to producers or that producers have issued documentation where applicable

Establish and maintain files (electronic or paper) for each risk and transaction handled

Proactively support completion of policy administration and credit control processes

Underwriting Strategy & Leadership

Contribute to development and execution of regional Underwriting strategy for LoB

Train, develop, and coach less experienced staff, including Underwriters

Manage complex referrals from underwriters and spokes; re-underwrite complex business as appropriate

Delegate work as appropriate

Market Management

Proactively support acquisition of new business and retention of existing business, including client and producer negotiations

Proactively liaise with MMC on market management initiatives

Relationship Management

Positively represent AGCS externally to the market

Drive involvement of functional areas in the Underwriting process (e.g., MMC, ARC, Claims, Operations)

Develop and maintain strong relationships with key producers, clients, and relevant stakeholders (e.g., risk managers)

What You’ll Bring to the Role

Experience & Knowledge

Minimum 5–7 years of significant experience underwriting profitable business in the Line of Business, with specialized expert understanding of sub-LoB products and portfolio

Recognized relationships with brokers at peer group level and well established within the market

Specialized understanding of regional/local LoB insurance markets and competitor landscape, including global elements

Good understanding of legal and regulatory framework

Experience working in a complex, global matrix organization

Technical Skills

Risk Assessment and Management: Ability to assess risk inherent exposures and natural hazards relevant to LoB (Advanced)

Pricing and Market Management: Ability to analyze current performance against benchmarks, applying knowledge of how the market operates, business needs, and customer needs

Contract Drafting and Interpretation: Ability to design, develop, and implement consistent, robust wordings (Advanced)

Policy Management: Robust understanding of the policy administration life cycle, including information collection, policy issuance, premium bookings, credit control, and cancellation (Advanced)

General Skills

Analytical Skills: Ability to analyze highly complex data from multiple sources in detail; identify and resolve issues proactively (Advanced)

Communication & Presentation: Ability to express ideas and messages clearly, both written and verbally; ability to deliver audience-winning presentations (Advanced)

IT Skills: Proficiency in general office applications (PowerPoint, Excel, Word)

Experience in applying artificial intelligence (AI) and machine learning (ML) to improve business processes and decision-making is highly beneficial.

Influencing Skills: Ability to persuade and motivate others to act without executive authority (Advanced)

Education & Certifications

Bachelor's Degree, preferably in Economics, Finance, Insurance Management, or Business Administration

Completion of a professional insurance qualification (e.g., CII) preferred

Key Competencies

Results Orientation

Entrepreneurial Orientation

Market Insight

Customer Focus

Fostering Relationships

The annualized base pay range for this role is $123,534 - $186,707 for California. 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.

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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