Delegated Underwriting Authority Executive
You will oversee relationships with Managing General Agents and delegated underwriting programs. You will manage MGA onboarding, monitor performance and compliance, negotiate contracts with internal stakeholders, assess risk, conduct reviews and audits, report to senior management, and identify opportunities to improve program management.
Responsibilities
- Build and maintain relationships with MGAs as the primary contact for program-related matters.
- Manage onboarding for new MGAs.
- Monitor MGA performance against KPIs and contractual obligations, and implement improvement plans.
- Collaborate with legal, underwriting, claims, and business development teams to negotiate MGA contracts.
- Develop and maintain MGA requirements in line with company standards and regulatory requirements.
- Assess and manage risks associated with MGAs and delegated underwriting programs.
- Ensure MGA compliance with relevant regulatory and legal requirements.
- Conduct market research and competitive analysis to identify program development and growth opportunities.
- Prepare program performance reports and presentations for senior management.
- Support MGAs with underwriting guidelines, product knowledge, and relevant topics.
- Identify and support process improvement initiatives for program management.
- Act as a business contact for delegated underwriting enquiries across all classes.
- Ensure MGAs and delegated underwriting programs are approved in line with the MGA Playbook and policies and procedures.
- Coordinate and attend Deal and Portfolio Committee meetings as necessary.
- Maintain the audit diary and subsequent recommendations for coverholder business.
- Perform coverholder and MGA visits and reviews as part of audit and regular review processes.
Requirements
- Bachelor's degree in Business, Insurance, Risk Management, or a related field.
- Typically 3+ years of experience in program management, underwriting, or managing MGAs within the insurance industry.
- Understanding of multi-class insurance products, underwriting principles, and MGAs.
- Knowledge of insurance regulations, program management best practices, and delegated underwriting authority.
- Analytical and problem-solving skills.
- Communication and negotiation skills.
- Relationship management experience.
- Project management expertise.