Arch

  • Vice President, Construction - Middle Market

    Entity Arch Insurance Group Inc (U.S.)
    Job Locations US-IL-Chicago
    Job ID
    2019-2825
    Business Segment
    Insurance
    # of Openings
    1
    Category
    Construction - Middle Market
  • The Position

    Arch Capital Group Ltd. is a Bermuda-based company which provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. Arch offers competitive pay and a comprehensive benefits package. Additionally, Arch is committed to helping its associates create what’s next by providing access to a variety of programs supporting your professional development and a culture that encourages innovation, collaboration and professional growth. We seek talent that thinks innovatively, values collaboration and will go the extra mile to serve our customers and develop our company.

     

    A subsidiary of Arch Capital Group Ltd., Arch Insurance employs disciplined underwriting and prudent risk selection across all types of business. We have offices in the United States, Canada, Bermuda, UK, and Australia.

     

    Arch Insurance Group is a market-leading specialty insurer providing property, casualty and a wide range of specialty insurance for corporations, professional firms and financial institutions around the globe. From product development to policy servicing to claims payment, we are dedicated to providing our customers with superb coverage and service.

     

    Arch offers competitive pay and a comprehensive benefits package including a student loan assistance program, 401k company match and employee stock purchase plan (ESPP).  Additionally, Arch is committed to supporting professional development and a culture that encourages innovation, collaboration and professional growth. 

     

     

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

     

    Job Responsibilities

    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 guaranteed cost and 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.

    Desired Skills/Experience

    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 guaranteed cost and 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
    • Management of underwriting staff.
    • 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.
    • Highly proficient in Microsoft Excel, Work, Outlook, and PowerPoint. 

    Required Experience

    • 10 plus years of underwriting experience and/or 10 plus years experience in the construction industry and/or insurance industry.
    • Established agent and broker relationships country wide would be ideal.

     

    Education

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

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