Vice President, Healthcare Industry Practice

Arch Capital Group Ltd. New York , NY 10007

Posted 2 months ago

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.

The Vice President, Healthcare Industry Practice will lead the development of a market-leading position in the Healthcare industry and driving growth across the Arch platform.

Responsibilities

This position is directly accountable for the following responsibilities:

Planning

  • Develop deep knowledge into all relevant aspects of the industry and insurance needs. This includes classes, size segments, coverages needed and geographic concentrations.

  • Understand Arch appetite and capabilities in different industry sub segments, determine any gaps that exist, and best methods to address.

  • Build granular knowledge of distribution sources for Healthcare industry production.

  • Utilize third party databases to determine market opportunity and develop strategies to grow share in target sub segments.

Executing

  • Maintain visibility for Arch with key production sources at appropriate levels to ensure clear understanding of Arch appetite and capabilities. Coordinate communication among producers and Arch underwriters to facilitate strong local relationships and a steady submission flow of quality business.

  • Closely coordinate with Healthcare industry-assigned underwriters in each Arch Business Unit and distributors on individual accounts to drive strong hit ratios and renewal retention.

  • Work with marketing team to develop collateral materials and online marketing (website, social media, etc.) capabilities to promote Arch capabilities to target markets.

  • Spearhead Arch visibility in Healthcare industry by speaking at events, publishing editorials and other methods.

  • Implement focused incentives and other initiatives with Arch underwriters and distributors drive desired outcomes.

Measuring

  • Monitor production on monthly basis to ensure Healthcare industry goals are being met, including new business and GWP as well as underlying metrics such as submissions, hit ratio, and retention.

  • Maintain knowledge of macro dynamics and results of Healthcare industry (insurance and general industry) and ensure that Arch is reacting appropriately.

  • Evaluate producer performance in industry on regular basis and track against Arch results to determine market share changes.

  • Evaluate loss ratio and other profitability leading indicators on regular basis and work with Business Units to adjust strategies accordingly.

Partnering

  • In conjunction with Business Unit leaders, develop comprehensive Arch offering that addresses market opportunity. This should include current capabilities plus the development of anything new that fills any gaps that exist.

  • Collaborate with actuarial and BPM to create industry based reporting capabilities across all Arch Business Units.

  • Lead integration of Arch functions (actuarial, product development, ceded re, etc.) with Business Units to create innovative market solutions.

  • Engage Business Unit underwriting Healthcare industry specialists with appropriate counterparts at distributors to drive successful local relationships.

Qualifications

Key Competencies:

  • Strong strategic and critical thinking capabilities

  • Broad understanding of insurance marketplace across lines of business

  • Strong underwriting and product development skills

  • Ability to manage multiple priorities in fast-paced environment

  • Excellent team player with a proven background of leading through influence.

  • Organized and detail oriented

  • Strong interpersonal skills, including ability to effectively interact with individuals at all levels of the organization

  • Objective, ability to problem solve and multi-task

  • Must be a self-starter, demonstrate flexibility and adaptability

  • Excellent written and oral communication skills and executive presence

Preferred Technical Skills:

  • Knowledge of MS Outlook, PowerPoint, Word and Excel

Required Education/Experience:

  • 10+ years in P&C underwriting and/or product development

  • Extensive insurance experience in the Healthcare industry

  • Successful experience developing and implementing growth strategies

  • B.S. preferred

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Vice President, Healthcare Industry Practice

Arch Capital Group Ltd.