Major Accts Construction - Metropolitan Hub Leader

Major Accounts Construction – Metropolitan Hub Leader (New York & Pacific Regions)

Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

Key Objectives:

Underwrite and manage the Major Accounts Primary Construction division’s large and complex accounts. Working directly for the Senior Vice President of Primary Construction, be a resource to the division’s regional underwriting teams and the Chief Underwriting Officer of Construction. This position will have direct responsibility for aiding in the achievement of bottom-line profitability and top-line production goals of the New York and Pacific Regions, to be achieved through sustainable underwriting and relationship management, while meeting administrative standards and liaising with the various support centers within Major Accounts. These units include Risk Engineering, Claims, Operations, Actuarial, Credit Management, Legal and Corporate Underwriting. The position requires extensive marketing and collaboration with other Chubb business units and is located in Chubb’s New York branch. Occasional travel will be required to client meetings and the Pacific Region.

Details of this critical opening follow:

• Fundamentals of coverage, terms and conditions. Ability to analyze and decipher coverage, terms and conditions which generate a profit for the Company while meeting the needs of the customer.
• Risk Assessment. Ability to identify risk exposures, special or common hazards, and appropriate controls. Competency to select risk based on exposure and risk analysis. Ability to analyze claims and quantify losses.
• Financial proficiency. Understanding of financial statements and ratios used in risk analysis. Understanding of insurance financial fundamentals; impact of underwriting decisions on company assets. Ability to understand credit risk.
• Actuarial fundamentals. Ability to understand loss trends, loss triangles, and ratemaking. Proficient in basic loss development methodology, loss rating and able to quantify risk based on historical experience.
• Marketing and communications. Ability to sell and negotiate to achieve bottom line profitability for the Company. Ability to make presentations and communicate articulately. Ability to base communications on strategic thinking. Ability to manage producer strategy.
• Systems and programs. Ability to use systems and software programs needed to conduct daily business.

MAJOR DUTIES & RESPONSIBILITIES

Duties will include but are not limited to:

Underwriting Profitability & Production:

• Goal achievement – With a focus on large and complex accounts, achieve new and renewal business goals provided by the Senior Vice President of Primary Construction. Lines of business to include Workers’ Compensation, Commercial General Liability and Commercial Auto.
• Underwriting Integrity – achieve underwriting standards as outlined within the Primary Construction’s Division’s Portfolio Management guidance, broader divisional underwriting guidelines and authority statements. This includes risk selection, pricing & attachments, and meeting rate change and pricing adequacy goals set forth by portfolio class and/or line of business.
• Team Participation – Take part and support where needed in Chubb’s annual Kickoff Meetings in January and in Chubb Construction’s annual underwriting meetings. Participate in Quarter Close meetings led by the SVP of Primary Construction and participate in divisional underwriting webinars / conference calls when held.

Relationship Management

• Be responsible for executing on a Stewardship plan for existing book of business and maintain timely P&L Statement and Collateral Calculation records for each account.
• In conjunction with the Chubb Construction Industry Practice, Chubb’s Field Operations team and the Global Client Executive practice, support Chubb’s broader strategies on account management, targeting business and expanding product offerings where applicable. Prepare Executive Account Summaries when needed for senior management.

Referral Management

• Follow the appropriate referral protocols, authority statements and Corporate Underwriting guidance on referring applicable business as it pertains to risk selection, pricing, exposures, terms and conditions.
• Act as a resource to the Primary Construction field underwriting team on reviewing account referrals if needed.

Underwriting Administration & Audits

• Ensure proper and timely file maintenance and documentation in conjunction with the Division’s underwriting file guidance, including accurate & timely policy issuance and following appropriate procedures for manuscript forms & endorsements.
• Assist in the Division’s corporate underwriting audits and support the Division’s self-audit process where needed.
• Support the Division’s SVP and CUO in the underwriting file reviews and audits by the Treaty Reinsurance underwriters.

Marketing

• Execute a marketing plan as set forth by the SVP in ensuring a certain number of broker and client visits, and in conjunction with Chubb’s Construction Industry Practice marketing and targeting initiatives.
• Take part in industry events in support of broker and client relationships (such as IRMI, AGC, RIMS) if needed.

People

• Effectively utilize all tools to hire, train, develop and retain the best people in the industry.

MINIMUM REQUIREMENTS

• 10+ years casualty underwriting experience
• Experience underwriting multiple lines of insurance including primary Workers Compensation, General Liability & Automobile Liability
• Knowledge of and experience with Loss Sensitive Rating Structures and Captive Structures
• Bachelor’s degree preferred
• CRIS designation preferred

DESIRED QUALIFICATIONS

• Demonstrated analytical, strategic planning and organizational skills.
• Excellent communication, influence and negotiation skills with the ability to exercise positive influence over formal and informal organizations and management at all levels.
• Prior experience leading a team of underwriters.
• Proven strategic planning ability as evidenced by successful development and implementation of business and marketing plans. Previous experience with budgetary/expense management.

Chubb strives to offer a diverse and inclusive and rewarding work environment. Teamwork and mutual respect are central to how Chubb operates and we believe the best solutions draw upon diverse perspectives, experiences and skills. We operate in such a way where everyone, regardless of their singular background has the opportunity to contribute to our collective success.

Chubb offers a competitive compensation package and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan, disability coverage, stock purchase plan, flexible spending accounts, tuition reimbursement, and business casual dress. At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religion, age, sex, sexual orientation, transgender, national origin, disability, genetic information, veteran, or marital status, or any other characteristic protected by law.