Combined Insurance Underwriter - International A&H Travel & DM in United States
As a member of the Chubb Overseas General Accident & Health (COG) global underwriting team, this role is responsible for supporting the Leisure Travel, Direct Marketing and Digital insurance lines of business. The key objectives include reviewing underwriting referrals to Home Office, portfolio management, pro-active underwriting management to meet financial targets for each line of business, conducting and participating in regional and country underwriting audits and developing and implementing global data strategies on Travel to improve pricing sophistication, data analytics and MIS
MAJOR DUTIES & RESPONSIBILITIES: _ _ Referral and Case Underwriting: * Ensure that all new and renewal business for Leisure Travel, DM and Digital is compliant with the Underwriting Guidelines, Policies and Procedures, Underwriting Authority & Risk Appetite * Underwrite new and renewal business for Leisure Travel for all countries, in a compliant manner. * Encourage underwriting thought process in referrals made by local and regional underwriters. * Provide ongoing training to improve underwriting skills, and develop succession plans based on competency of our underwriters. * Review referrals, rating and other underwriting criteria that exceed local and regional underwriting authority limits. Provide detailed explanation of decisions made to enhance knowledge of underwriters. Work with Regional underwriters to ensure referrals are ready for HO review. * Work with travel actuary and Chief Travel Underwriter in developing Travel tools and rates.
Underwriting Audits: * Conduct and participate in country underwriting audits in all regions * Collect and validate preliminary audit data, ensuring it is submitted on time; it accurately reflects the P&L and has enough granularity to examine the portfolio on an account-by-account basis. * Organizing underwriting and financial data for audit * Work with region and local underwriters with reviewing the audit, addressing objections and requested changes. * Develop and help implement relevant underwriting remediation plans identified during audits * Internally Delegated UW Authority: Ensure compliance with delegated underwriting authority and in conjunction with CUO, review regional authorities to ensure they're relevant and current
Portfolio Management: * Analyze the Underwriting work flow (new policies, renewals, endorsements, premium coding, etc.) and recommend any necessary changes to ensure high efficiency and effectiveness. * Review Travel dashboards and performance metrics and address deficiencies found in local and regional P&Ls in a timely manner. Ensure that products perform to desired loss ratios or better. * Ensure proper data capture and use, including granular line-by-line data collection where possible, correct recognition of earned premium and proper construction of consistent P&Ls (LOBAs). * Assist in providing Portfolio Analysis: Monitor key ratios including but not limited to combined ratios, loss ratios, premium and policy count and, in conjunction with Chief Underwriter Officer, identify key actions to maintain targeted ratios and oversee execution of action plans. Analysis would include but not be limited to segmentation of portfolio into product P&L’s and should utilize available MIS to monitor the portfolio. Identify specific poor performing accounts; review of overhead and acquisition expenses; review of claim reports/activity; review of portfolio by producer. * Monthly AvE reports: Assist in working with regional underwriters and actuaries to identify issues/actions related to “bad guys” in the monthly AvE reports providing information to regional underwriting manager on a timely basis (i.e. target delivery by day 7 after the close of the prior month). * Assist in maintaining detailed record of Travel rating rational used by key products and sponsors.
- Projects & Data Initiatives:*
- Support major new regional and Home Office initiatives.
- Assist in new product development and implementation.
- In conjunction with our predictive analytics, actuarial and data management teams, develop and help drive global data strategies to improve pricing sophistication, data management, data analytics, rate optimization and management reporting
- Promote the transfer of innovative ideas and new products under the supervision of the Chief Underwriter Officer for Travel, DM & Digital.
- Support underwriting and data analytics in conjunction with global and regional digital underwriting and analytic teams to help accelerate and optimize digital distributions
Best Practices & Training:*
- Develop and conduct regional and country underwriting training
- In conjunction with CUO and analytic teams, support development and implementation of global best practices pertaining to data analytics, rating models and rate optimization.
In conjunction with CUO, develop, implement and maintain underwriting guidelines and policy and procedures
- 3 to 5 years of underwriting experience in A&H or Travel insurance, preferably in a multinational organization.
- Ability to develop, drive and execute global strategies and best practices
- Management skills including training and development
- Strong analytical skills, data management and database knowledge
- Able to work independently or in a team environment.
- Ability to provide quality service to clients, internal and external.
- Ability to develop business relationships on behalf of Chubb to achieve bottom line profitability for the Company.
- Desire to work in a global insurance environment.
- Ability to travel
Title: Underwriter - International A&H Travel & DM
Requisition ID: 318554