Life Sciences Underwriting Executive - Medmarc


Job Description

Employer Name:

SpiderID: 9703020

Location: Chicago, Illinois

Date Posted: 7/14/2020

Wage: Negotiable

Category: Insurance

Job Code: R1786

Job Description:

An exciting opportunity exists to join the ProAssurance family of companies!

We are a specialty writer of professional liability, products liability and workers' compensation insurance. With over 1,000 employees operating in 40 states, our company is well positioned to offer career opportunities to individuals interested in professional growth.

This position is with Medmarc, a products liability underwriter to the medical technology and life sciences industries. Medmarc is a member of the ProAssurance family of companies.

The Life Sciences Underwriting Executive uses their underwriting authority to develop and build broker relationships to write profitable new business and retain existing policyholders in their assigned regional territory. This underwriter will solicit, examine, accept and reject insurance risks based on underwriting guidelines in all market segments of the program-clinical trial, distributor, and manufacturer of medical device and pharmaceuticals. Their focus will be in the department's largest and most complicated accounts, both as primary underwriter and a referral source for their colleagues. The Life Sciences Underwriting Executive follows the underwriting authority granted them by the Chief Underwriting Officer. They will classify and price acceptable accounts to meet underwriting profit goals and expense objectives; establish and build relationships with brokers in their assigned territory; and monitor, analyze and report on the quantity and quality of assigned book of business. They develop action plans to address profit and growth objectives. Provide technical expertise and guidance to brokers and policyholders.

Essential Duties and Responsibilities:

30% Underwrite new and renewal submissions to assess insurability. Create terms and conditions for each applicant based on underwriting guidelines, program rates and coverage forms. Compare year-over-year risk profile and loss information and take necessary steps to ensure each risk is appropriately classified and priced.

15% Exercise underwriting authority to review and approve proposed quotations for underwriters who have less authority. Coach underwriters on risk analysis for more hazardous exposures & accounts.

10% Expand new business opportunities in preferred classes of business through target accounts and brokers in all market segments including Animal Health, Dental Products, Distributors, Diagnostics, and Errors & Omissions.

10% Identify and solicit target accounts per department plans, with a focus on accounts in excess of $100 million annual sales and accounts with high products liability exposure.

10% Arrange and conduct meetings with brokers, and insureds / prospects to discuss terms and conditions, exposures, claims and related concerns. Focus on National brokers / agents that handle the most complicated risks.

10% Work with claims and risk management & loss control colleagues to establish terms and conditions on accounts with claims activity/history or accounts with significant exposure to loss.


  • Bachelor's degree required with a preference for study in Insurance, Business Administration or Life/Biological Sciences-related field.
  • Minimum of 7-10 years experience in a casualty insurance environment; prior life science products liability or healthcare professional liability underwriting experience preferred, CPCU, AIC or ARM highly desired
  • Proven self-starter with strong multi-tasking and relationship management skills.
  • Superior negotiation, marketing and sales skills.
  • Able to make sound decisions and devise appropriate solutions.
  • Able to review the work of others, provide feedback and approve other underwriters' quotations.
  • Excellent listening, speaking, writing and presentation skills. Ability to process information logically.
  • Meets work deadlines, excellent desk management skills.
  • Solid knowledge of rating and documentation management and workflow systems.
  • Able to create, build and develop superior relationships with agencies.
  • Able to create, build and develop superior relationships with internal colleagues in different departments within the Business Unit, and ProAssurance across departments.
  • Proficient in Microsoft Office Suite.
  • Up to 30% travel.

Job Criteria:

Start Date: ASAP
Position Type: Full-Time Permanent
Years of Experience Required:
Education Required:
Overnight Travel:
Vacation Time:

Contact Information:

Contact Name: Proassurance

Company Type:

Company: Proassurance




FindTheBestJob is a free service and does not charge a fee at any stage of application or recruitment process. Don’t provide your bank account or credit card details to anyone during job application. FindTheBestJob does not guarantee the availability of a job since organizations may end applications earlier than due date.

Apply Now