Life Underwriting Consultant, Facultative Reinsurance

Position Overview

Our Facultative Life Underwriting team plays a critical role in helping our clients navigate complex medical, non medical, and financial risks with confidence. We are looking for an experienced, decisive, and client focused underwriting professional who thrives in a collaborative, fast paced reinsurance environment.

This role is ideal for an underwriter who combines deep technical expertise with strong judgment, the ability to influence client outcomes, and a passion for delivering high quality decisions. You will be a trusted partner to our clients and an ambassador for Munich Re in the market.

Reporting into the 2nd VP, Underwriting Services you will…..

• Independently underwrite facultative life reinsurance cases, applying sound judgment to complex medical, non medical, and financial risks.
• Provide timely, high quality underwriting decisions supported by clear rationale and consistent documentation.
• Collaborate with clients and internal partners to resolve inquiries and support competitive outcomes.
• Represent Munich Re professionally through client interactions and industry engagement.

Your Role:

• Using independent judgment with the manual as a guide only, medically, nonmedically and financially evaluate facultative reinsurance applications for life insurance with competitive and quality decisions
• Recognize pertinent risk factors and understand insurable risk and financial justification to make strong decisions; ensure appropriate documentation to support these decisions
• Keep up with mortality trends and industry underwriting practices of both clients and competitors. Maintain current understanding of client’s personnel and their business practices
• Provide value added services to clients including providing prompt responses to telephone inquiries, emailed questions.
• Provide prompt handling of facultative new business and additional requirements
• Provide reasons for underwriting decision and explanation to client underwriter. Have the ability to defend and sell your decision so the client underwriter is confident when presenting the decision to the financial representative
• Represent and promote Munich Re with phone contact, at industry meeting business travel to client’s offices and participating on external reviews/audits
• Co-sign cases for team members.

Your Profile:  

• Bachelor’s Degree
• 8+ years of life underwriting experience including direct life insurer preferably in the brokerage distribution market
• Reinsurance underwriting experience preferred
• Industry related designation (ALMI, FLMI, AALU, FALU, CLU) preferred
• Strong knowledge of medical terminology, anatomy and physiology
• Impaired/substandard risk experience
• Ability to read electrocardiograms preferred
• Strong medical, nonmedical and financial risk assessment abilities
• Aptitude for approving greater mortality risk assumptions and cosign work of others
• Ability to understand insurance contracts as well as legal process and various products offered in the US life market
• Demonstrated client or agent face to face skills
• Presentations or published article experience
• Established demonstration of drive and initiative to improve processes and/or client perceptions
• Participation on team projects required

About Munich Re

Together, we engage with everything we have and are, to help humankind act braver and better.

As the world’s leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance.  By turning uncertainty into manageable risk, we enable fundamental change.  We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions.  We dare to think big and are continuously innovating on behalf of our clients.

Our data, our technology, and our teams place us in a unique position to drive transformative change in the life insurance industry.  We invest strategically in our world class talent, offering our employees a work experience that promotes professional development, innovation, and rewards high performance.

The base salary range anticipated for this position is $120,503 to $139,530, plus an opportunity for an annual company bonus based upon a percentage of eligible pay.

The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role.

What Can We Offer You?

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

• Two options for your health insurance plan (PPO or High Deductible).
• Prescription drug coverage (included in your health insurance plan).
• Vision and dental insurance plans.
• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
• Short and Long-Term Disability coverage.
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

• A robust 401k plan with up to a 6% employer match
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
• Eligibility to receive a yearly bonus as a Munich Re employee.
• A variety of health and wellness programs provided at no cost, including a gym fitness reimbursement.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program that further enhances your charitable donation.
• Paid time off to volunteer in your community.

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services. We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.