Underwriter, Cyber/Tech E&O
Company Description
Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of insurance and reinsurance solutions.
We operate under the brand Allied World and have supported clients, and trading partners with thoughtful service and meaningful coverages since 2001.
We have 21 offices around the globe and serve over 52,000 clients worldwide.
We are a subsidiary of Fairfax Financial Holdings Limited, the seventh largest North American Re/Insurer by market capitalization, and a company with $71 billion in total assets and $16B+ of stockholder equity.
The Opportunity
Allied World is currently looking for an Underwriter for our Cyber Liability / Technology Errors & Omissions team who will be located in our Los Angeles office and responsible for relationships throughout the Northwest Region.
The ideal candidate will be able to work in a team setting with high levels of client interaction to perform systems and network security analysis, client contractual review, and will be intimately involved in individual deal negotiations with a variety of partners and industry classes.
Allied World believes that we thrive on a combination of technical and on the job training and this runs core to new team member development.
As digital threats grow more sophisticated, malicious, and difficult to detect, Allied World’s focus rests on innovation in providing tailored solutions to complex risk.
Cyber losses cost the global economy upwards of $1.5 trillion each year, a figure that is only expected to grow, and this has resulted in Cyber Liability sitting at the forefront of the global industry The role will provide you with insight into cutting edge IT security protocols and risk management practices utilized by Silicon Valley’s fastest growing companies in order to thrive within this new frontier.
Key Responsibilities
The roles and responsibilities of an Underwriter include:
Prioritize and evaluate submissions in order to identify those accounts that provide the greatest opportunity for profit consistent with the business plan and corporate profit objectives.
Evaluate terms and structures to meet corporate profitability targets.
Price and analyze coverage, structure and exposures.
Attend client/broker meetings, lunches, dinners and other social outings as applicable.
Negotiate contracts and pricing mechanisms with partners, end users, and clients for new and renewal business.
Exercise proper underwriting pricing and discipline to meet profitability goals in compliance with underwriting guidelines, systems, and procedures.
Expand Allied World’s existing portfolio of business by developing existing relationships, as well as creating new prospective clients.
Liaise with brokers, internal auditors and Claims, Accounting, IT and Legal departments.
Attend industry conferences and seminars.
Requirements
An innate curiosity to learn and a strong desire for success.
Bachelor’s Degree
0-3 years of underwriting or related industry experience.
Excellent oral and written communication skills.
Solid negotiation & collaborative skills in a fast-paced team-centric environment
Good knowledge of underwriting philosophy and basic fundamentals, techniques, and underwriting guidelines espoused by the company and in written form.
Ability to demonstrate critical thinking, decision making, and problem-solving skills
Ability to travel a minimum of 15% of the time is anticipated
Strong knowledge of processing methods and workflow procedures.
Job Type: Full-time
Benefits:
401(k)
401(k) matching
Dental insurance
Disability insurance
Employee assistance program
Employee discount
Flexible spending account
Health insurance
Health savings account
Life insurance
Paid time off
Parental leave
Professional development assistance
Referral program
Tuition reimbursement
Vision insurance
Schedule:
Monday to Friday
Supplemental Pay:
Bonus pay
COVID-19 considerations:
COVID-19 regulations in place
Education:
Bachelor’s (Preferred)
Experience:
Underwriting: 2 years (Preferred)
Work Location:
One location
Work Remotely:
Temporarily due to COVID-19