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.
We are looking for an Underwriting Specialist for our property line of business. This role is hybrid based in our Toronto, Ontario office.
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 Head of Property - Canada, this position will take prime responsibility for underwriting profitable new and renewal business to meet LoB(s) targets regionally including global elements. Ownership of large accounts/clients including negotiation of participation, pricing and terms and conditions. Training and development of team and referral point for underwriters. Develop and maintain strong relationships with brokers and clients. Specialized technical expertise/lead for at least one sub-Lob.
Some of your specific responsibilities could include:
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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 modelling and interpretation of scenarios (for relevant LoBs). Underwrite International Insurance Programs (for relevant LoBs)
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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.
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Ensure accurate policy documentation issued to producers (where AzC responsibility to do so) or producers has issued documentation (where producer responsibility). File maintenance – ensure file is established (whether electronic or paper) and maintained for each risk and transaction handled. Proactively support completion of policy administration and credit control processes.
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Contribute to development and execution of regional Underwriting strategy for LoB regionally. Training, developing and coaching of experienced staff (including Senior Underwriters). Manage complex referrals from underwriters and spokes and re-underwrite complex business as appropriate. Delegate work as appropriate.
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Proactively support acquisition of new business and retention of existing business (including client and producer negotiations where necessary)/ Proactively liaise with MMC on market management initiatives.
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Positively represent AzC externally to the market. Proactively drive involvement of functional areas in Underwriting process, including e.g., MMC, ARC, Claims, Operations, Develop and maintain strong relationships with key producers and clients and other relevant stakeholders (e.g., risk managers).
What You’ll Bring to the Role
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A minimum 5 years’ significant experience in underwriting profitable Property business with specialized expert understanding of sub-Lob products and portfolio.
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If you’ve underwritten property insurance products such as large commercial property risks, manufacturing, real estate, retail, public entity, and healthcare facilities, this job is for you! OR if you’ve worked this line of business in a broker role, that’s a plus!
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Recognized relationships with brokers at peer group level and well established within market. Specialized understanding of regional/local LoB insurance markets and competitor landscape, including global elements.
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Good understanding of legal and regulatory framework. Experience working in complex, global matrix organization.
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Preferably a bachelor’s degree in Insurance, Risk Management, Finance, Economics, or Business Administration. And completion of a professional insurance qualification.
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Ability to assess risk inherent exposures and natural hazards relevant to LoB. Analyze current performance against benchmarks applying how the market operates and functions, the business needs and customer needs.
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Design, develop, and implement consistent, robust wordings. Robust understanding of policy administration life cycle, information collection, policy issuance, premium bookings, credit contro, and cancellation.
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Ability to analyze highly complex data from multiple sources, in detail; identify and resolves issues before they transpire. Ability to express ideas and messages clearly, both written and verbally. Ability to “sell” an improvised or prepared audience winning story. Ability to persuade and motivate other to act, without executive authority.
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Use general office application tools i.e. Power Point, Excel, Word.
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The ability to utilize AI tools to support day-today tasks, improve efficiency, and contribute to data-driven decision-making is valuable. A willingness to learn and explore how AI can enhance your role and the broader organization is expected.
The annualized base pay range for this role is $107,625 to $167,534. The annual base salary range represents a nationwide market range. The actual salary for this position may be above and will be determined by several 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.
80625 | Underwriting | Professional | Allianz Commercial | Full-Time | Permanent
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 (AzC) is a global corporate insurance carrier and part of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 10 dedicated lines of business. Learn more about us by clicking here.
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.
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 recruiters. 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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