A technical expert who leads the negotiation placement and processing of facultative reinsurance contracts in support of the various business units including Commercial and Specialty. Working from templates from business units for various or multiple lines of business responsible for fast turnaround of very time sensitive facultative reinsurance quotes including structure pricing and contract terms used to support new and renewal accounts.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
Completes review of subject risks for facultative reinsurance placements. Demonstrates thorough understanding of insurance concepts for the various lines of business and applies this knowledge in the placement process.
Gathers all documentation (ie: statement of property values catastrophe modeling engineering reports financial reports payroll employee counts actuarial analysis and other relevant information) required by facultative reinsurance underwriters in order to evaluate the risk. Communicates and provides all relevant information as part of the facultative submission. This information is provided to direct markets (no broker) and to designated reinsurance brokers for assistance in the placement process. Interprets and summarizes data that provides relevant analyses to the risk at hand.
Works collaboratively as a liaison between CNA underwriters and third party facultative reinsurance companies and reinsurance brokers to facilitate the timely pricing and placement of facultative reinsurance contracts to support successful outcomes for CNA business units. Makes recommendations using technical experience on pricing ceding commission contract terms and deal structure.
Provides business insights and recommendations to support business improvements. Reports findings to Reinsurance leadership.
Acts as a technical resource and regularly identifies opportunities to leverage new IT solutions in support of process improvements and reporting objectives. Works within multiple CNA underwriting systems such as RAPID RST TAP EPC FAMUSR and HAL as well as the eRe facultative reinsurance processing system.
Acts as a resource for colleagues with less experience by providing instruction guidance and advice.
May actively partner with other analytical teams across the organization and/or participate in special projects.
Responds to and fulfills ad-hoc data requests.
May perform additional duties as assigned.
Typically Director or above.
Skills Knowledge & Abilities
1.Solid knowledge of core functions of an insurance company and general insurance.
2.Extensive knowledge of reinsurance principles as well as major insurance lines of business including property casualty GL D&O WC and healthcare liability.
3.Solid technical knowledge of financial economic and statistical practices procedures and principles which may include a specialty area of the business.
4.Solid interpersonal communication and presentation skills. Effectively interacts with all levels of CNA's internal and external business partners.
5.Solid analytical critical thinking and problem solving skills to effectively resolve complex situations and issues.
6.Solid project management organization and planning skills with the ability to manage multiple risks and requests on a daily basis.
7.Ability to solve issues with a high degree of urgency; utilizes and manages the available resources to make informed decisions and achieve superior results.
8.Ability to creatively and effectively manage through ambiguous and challenging problems leads through change and takes appropriate level of risk.
9.Must work independently receiving minimal guidance.
Education & Experience
1.Bachelor's Degree in a related discipline or equivalent with preferred Business Economics Mathematics Finance Statistics or related discipline.
2.Typically a minimum of seven years of related work experience.