Underwriter, Cedant Facultative Reinsurance, North America

Job Summary 

SCOR has created a new Facultative Reinsurance team, to further our success in this market. Whilst Facultative underwriting is not new to us, our focused approach will help secure our position as a market leader. Creating this book of business, in collaboration with the wider Insurance and Reinsurance teams is where this role begins.

Within this role, you are responsible for SCORs Property Facultative Reinsurance offering, across the United States, developing relationships with clients, and our wider underwriting teams.

As a Property Underwriter in the US, you will support the strategic engagement for our business development, including business origination and maintenance of the SCOR Cedent Facultative offering to clients and brokers, in the region. 

You play a role in the achievement of the Plan, and for the wider profitability of the Cedent Facultative transactions in your regional line of business, being part of the success of the underwriting team within the region. Your plan contributions form part of the regional and global Cedent Facultative ambition and is achieved through sound technical and profitable underwriting, supporting the Lead Underwriter of the product within the region.

These goals are achieved through your skill at developing SCOR’s market share and leadership position across Cedent Facultative Reinsurance through enhancing the Group image in the market by efficient and innovative support of client needs, being the partner, our clients not only need, but ask for.

Key duties and responsibilities

No two days are the same, but that is how we become the experts that our clients expect to work with. Helping to produce and manage the portfolios of accounts, through the building of strong market relationships, is at the core of your role at SCOR. The guidelines we develop are built to support the underwriting business plan for your line of business, but you play a key role in it’s delivery.

There is always a lot to do, but everything is linked to the overall results of SCOR, developing our market share, and enhancing our market image.

When you receive, select and evaluate offers of business from various sources, your role is to support in determining the quality of the proposal, analyze the exposure, and at times negotiate the best terms for SCOR whilst satisfying the needs of the client. But we also want you to support the development of our submission pipeline and promote SCOR by pro-active marketing in line with the strategy and guidelines defined by us.

Business and Market relationships are key to yours and our success. By maintaining and developing these relationships with clients and brokers and attending broker and client hosted events, you get the chance to be part of our growth.

We want you to be curious and innovative. We see research and development as an important part of our work, with a desire to look at new areas of potential profitable growth. 

It is also important to emphasize the importance of working as a team at SCOR. Whether it’s across underwriting, or working closely with Claims and Pricing, we are successful because of this collaboration. 

Some of the expectations of your role are;

• Be part of the team delivering profitable growth and diversify the portfolio in accordance with strategy and in accordance with the Facultative Guidelines and practices 

• Receive, select, and evaluate offers of business from various sources, calculate pricing, & negotiate conditions of the contracts. 

• Take time to identify, research, develop and report on new areas of profitable growth

• Be comfortable in marketing and cross selling the capabilities of other units across the Group, be it Treaty Reinsurance, Alternative Risk Transfer or, Specialty Lines to Managers, Brokers and Ceding Companies 

• Develop marketing materials and intelligence documentation based on research and analysis of both the portfolio results and the market data

• Provide technical expertise, best practices and mentoring to underwriters in the region that assist in sourcing new business opportunities

• Collaborate with peers in other regions to share market intelligence, best practices but most importantly ensuring that our underwriting methodology is consistent throughout the World. 

• Assist other business lines in local market interactions to support cross-LOB growth

• Collaborate with the Claims Function in negotiating/resolving the claims arising from your portfolio.

Ensure data quality and reporting to all our IT systems