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Underwriter Trainee, Cyber/Tech E&O at Allied World

Posted in Insurance 30+ days ago.

Type: Full-Time
Location: San Francisco, California





Job Description:

Underwriter Trainee, Cyber/Tech E&O

The Opportunity

Allied World is currently looking for an Underwriter Trainee for our Cyber Liability / Technology Errors & Omissions team who will be located in our San Francisco office and responsible for relationships throughout the Northwest Region.  The ideal candidate will be able to work in a team setting with high levels of client interaction to perform systems and network security analysis, client contractual review, and will be intimately involved in individual deal negotiations with a variety of partners and industry classes.  Allied World believes that we thrive on a combination of technical and on the job training and this runs core to new team member development.

As digital threats grow more sophisticated, malicious, and difficult to detect, Allied World’s focus rests on innovation in providing tailored solutions to complex risk. Cyber losses cost the global economy upwards of $1.5 trillion each year, a figure that is only expected to grow, and this has resulted in Cyber Liability sitting at the forefront of the global industry The role will provide you with insight into cutting edge IT security protocols and risk management practices utilized by Silicon Valley’s fastest growing companies in order to thrive within this new frontier.

Key Responsibilities

 The roles and responsibilities of an Underwriter Trainee include:


  • Prioritize and evaluate submissions in order to identify those accounts that provide the greatest opportunity for profit consistent with the business plan and corporate profit objectives.

  • Evaluate terms and structures to meet corporate profitability targets.

  • Price and analyze coverage, structure and exposures.

  • Attend client/broker meetings, lunches, dinners and other social outings as applicable.

  • Negotiate contracts and pricing mechanisms with partners, end users, and clients for new and renewal business.

  • Exercise proper underwriting pricing and discipline to meet profitability goals in compliance with underwriting guidelines, systems, and procedures.

  • Expand Allied World’s existing portfolio of business by developing existing relationships, as well as creating new prospective clients.

  • Liaise with brokers, internal auditors and Claims, Accounting, IT and Legal departments.

  • Attend industry conferences and seminars.

Requirements


  • An innate curiosity to learn and a strong desire for success.

  • Bachelor’s Degree

  • 0-3 years of underwriting or related industry experience.

  • Excellent oral and written communication skills. 

  • Solid negotiation & collaborative skills in a fast-paced team-centric environment

  • Good knowledge of underwriting philosophy and basic fundamentals, techniques, and underwriting guidelines espoused by the company and in written form. 

  • Ability to demonstrate critical thinking, decision making, and problem-solving skills

  • Ability to travel a minimum of 15% of the time is anticipated

  • Strong knowledge of processing methods and workflow procedures.

About Fairfax

Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. 

About Allied World

Allied World Assurance Company Holdings, Ltd, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions. Allied World offers superior client service through a global network of offices and branches. All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and our Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and AA- by Fitch. 

Our generous benefits package includes: Health and Dental Insurance, 401k plan, and Group Term Life Insurance.  Allied World Insurance Company is an Equal Opportunity and Affirmative Action Employer.  All qualified applicants will be considered for employment without regard to an individual's race, color, national origin, religion or belief, sex, age, genetic information, marital or civil partnership status, family status, sexual orientation, gender identity, or their protected veteran or disability status.  Please visit www.awac.com for further information on Allied World. 





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