Field of studyBusiness Administration, Economics, Finance, Insurance, Law, Risk Management (or related)
Study levelBachelor's or higher
Original posting
We are looking for an Underwriter to support our Cargo line of business. If you have proven track record of underwriting international transit, stock through-put, project cargo (including delay in start-up) and tailored coverages, this position is for you. This position will work a hybrid scheduled based in the New York City office.
Your Team
Cargo insurance for large businesses is a type of insurance that protects businesses from financial losses resulting from the damage, loss, or theft of their cargo while in transit. This type of insurance is essential for large businesses that ship large quantities of goods, as it can help to offset the costs of replacing or repairing damaged or lost cargo.
With one of the largest, most experienced networks of cargo insurance specialists, claims experts and risk consultants in the business, Allianz Commercial delivers local solutions for marine cargo risks in more than 200 countries and territories.
The Impact You Will Have
Reporting to the Underwriting Manager Northeast Cargo, this position underwrites profitable new and renewal business to meet LoB targets in accordance with underwriting guidelines and underwriting authority. Negotiate price and terms and conditions. Ownership of key accounts / clients. Develop and maintain strong relationships with producers and clients in partnership with Market Management.
Some of your specific responsibilities could include:
Underwrite new and renewal accounts to meet top and bottom line targets. Negotiate price and terms and conditions with key producer partners. 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).
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.
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.
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.
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 –
A minimum 1 to 3 years’ proven track record in Underwriting profitable Marine Ocean Cargo business in LoB. Understanding of LoB products and portfolio. Good understanding of regional / local LoB insurance markets and competitor landscape. Understanding of legal and regulatory framework.
Demonstrable, established relationships with brokers at peer group level. Experience working in complex, global matrix organization.
Preferably a bachelor’s degree in Risk Management, Insurance, Business Administration, Finance, Economics, Law, or other appropriate discipline. Progress towards or completion of a professional insurance qualification.
Ability to assess risk inherent exposures and natural hazards relevant to this Lob. Manage the underwriting books. Analyze trends and scenario plans from which portfolio strategies can be developed and implemented.
Analyze current performance against various benchmarks with a view to ensure adequate progress and satisfactory performance. Apply the knowledge of how the market operates and functions, the business needs and customer needs.
Ability to analyze highly complex data, from multiple sources, in detail; identify and resolve 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 others to act, without executive authority.
Use general office application tools e.g. Power Point, Excel, Word.
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.
External 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.
The annualized base pay range for this role is $85,000 to $110,000. 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.
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.