Arch

  • Assistant Vice President, Construction

    Job Locations US-IL-Chicago
    Job ID
    2017-1458
    # of Openings
    1
    Category
    Construction
  • Overview


    Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, Australia and South Africa, providing specialty risk solutions to clients worldwide across a wide range of industries. With over ten years of operating history and strong financial ratings, our track record remains solid. 

     

     

    Responsibilities

    The Position:

    The Assistant Vice President within Arch Construction is responsible for the technical underwriting and account management of large account construction casualty programs.

     

    Principle Duties:

     

    1. Technical Underwriting
    • Solicits and reviews new and renewal account information required to evaluate a risk.
    • Identifies all potential exposures and hazards in relation to coverage requested and individual risk characteristics.
    • Assesses insurance and related financial risk and structures appropriate loss sensitive program to effectively protect against frequency, severity, catastrophic and credit risk
    • Engage other internal resources as necessary
    • Underwrites prices and prepares proposals based on objective and subject risk characteristics, input of internal resource team, existing product set and regulatory filings.
    • Prepares final quotation/proposal and presents to producer and/or prospective insured.
    • Coordinates all administrative duties related to existing and prospective accounts.

     

    1. Account Management
    • Quarterbacks all post bind activities including policy production, compliance issues, audits and adjustments, legal agreements, receipt of collateral, legal agreement execution, TPA coordination and any other related items.
    • Together with internal team members, takes responsibility to deliver promised service to customers.
    • Responsible for the renewal and retention management and manages the renewal process to achieve targeted retention and price change goals.
    • Initiates, coordinates and conducts a mid term account review.

     

    1. Sales and Marketing
    • Develops and maintains relationships with producers and insured’s to achieve overall productions and profitability goals.
    • Meets with producers and insured’s to discuss individual account issues, uncover critical customer needs and financial buying characteristics.
    • Develops a strategic plan for positioning and selling Arch at both the producer and the insured level.
    • Engages and introduces other team members or management team as appropriate.
    • Develops and maintains relationships with producers to generate a flow of qualified submissions.

     

    1. Administrative
    • Responsible for all underwriting and policy file documentation
    • Completes ad hoc projects as assigned by management personnel

    Qualifications

    Skills & Knowledge:

    • Understanding and knowledge of the intent, scope and purpose of the Workers Compensation, General Liability, Automobile coverage forms and endorsements with the ability to tailor to the sold program design.
    • Possess a thorough understanding of all loss sensitive programs including products, pricing, expensing, actuarial loss projecting techniques, retention and aggregate setting, limit profiles, ALAE, and effective utilization of facultative reinsurance.
    • Understanding and knowledge of exposure identification and analysis
    • Posses a cross functional generalist knowledge of other disciplines including claims, risk control, audit, premium accounting, finance and legal.
    • Knowledge of regulatory and compliance issues
    • Knowledge of Arch’s product set
    • Excellent communication skills – written, verbal and presentation
    • Sales and Negotiation skills
    • Be able to provide leadership and support to other team members
    • Ability to perform multiple tasks simultaneously
    • Have the ability to influence without authority and be willing to work in a collaborative and team environment.

     

    Required Experience:

    • Five (5) plus years of underwriting experience and/or 10 plus years experience in the construction industry and/or insurance industry.
    • Established broker relationships within the Central Region would be ideal.

     

    Educational Requirements:

    • Bachelor’s degree or equivalent training required.
    • CPCU or other similar designation a plus.

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