VP, Inland Marine

Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.

We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.

Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

The work pattern for this job is Hybrid 

The minimum and maximum salaries for this job role are below:

Minimum Salary - 148,000.00  

Maximum Salary - 185,000.00  

The Role:

This role is a key contributor to supporting the Inland Marine portfolio for Gross Written Premium, Loss Ratio, and Claims Ratio objectives fully aware and informed of the evolving economic and insurance marketplace to understand underwriting trends, legal developments and concerns. Build and maintain a pipeline of opportunities that support our Inland Marine business profitably through effective underwriting according to authority level and established guidelines, participate in special projects, and provide coach/train more junior staff. Expected to underwrite complex accounts and contribute to product development, forms, and rate calibration. Meet stated financial objectives around growth and profitability for the Inland Marine portfolio. Create relationships and showcase Aspen’s products and capabilities. Utilize our standards, practices, and tools to determine accurate classifications, rates, and premium charges. Review laws, including cancelation and non-renewal protocols in assigned locations.

Key Accountabilities:

• Contributes to functional strategy development and prioritizes operational deliverables and activities of team to support delivery of overall business target.
• Manages tactical plan and provides support to others to achieve positive results for the business in line with strategy.
• Applies specific expertise to manage processes and workflow within the team, and is responsible for ensuring accuracy, efficiency, good practice and adherence to prescribed standards.
• As a senior technical expert, is responsible for executing high value/highly complex transactions (making decisions within authority limits) to ensure that they are appropriately completed and that related records and systems are properly maintained.
• Interprets, and helps to cascade organization goals and regulatory/legislative requirements; and is responsible for monitoring functional activity, and application of Policy and Procedures,  to ensure that compliance, effectiveness and risk management is optimized.
• As a senior technical expert and designated point contact for others within the function, is proactive in providing advice and guidance to colleagues, making appropriate decisions and promoting improved understanding of functional needs and standards.
• Develops strong relationships with internal and external stakeholders to ensure that service delivery meets customer/colleague expectations.
• Networks with relevant colleagues across the organization to share best practice and to identify optimal service delivery options within the function.
• Builds upon broad awareness of their market context, industry best practice and headline legislation related to their specific discipline, by engaging with external peers, to enhance personal contribution to functional performance.
• Actively participate in relevant internal and external meetings as required to develop and demonstrate knowledge of Aspen and its processes.
• As a senior technical expert will represent the function by providing support and technical input to project teams and other areas of Aspen to ensure solutions take account of functional needs.
• Continually develops subject matter expertise and technical knowledge (of self and other team members) by identifying and implementing appropriate learning and development activities.
• Applies specific technical expertise to underwrite complex (and/or high value) insurance risks in accordance with the business plan and the delegated underwriting authority to meet business objectives. This includes negotiating rates, terms and conditions for existing and new business (developing or modifying policy wordings as appropriate), ensuring compliance with internal and external regulations and guidelines, ensuring contribution to the business plan and objectives, and support credit control in payment collection.
• Manages the review and analysis of the portfolio/functional performance to identify and influence progress towards business objectives.
• Ensures all business is thoroughly evaluated by peer review and that risks written adhere to the Company’s underwriting standards and individual authority.
• Manages and supports specific operational team(s) within own function / department or specialism to ensure that people, resources and processes are aligned with business needs and fit for purpose.
• Manage, resource, motivate, develop and focus the team(s) to ensure the required standards of performance and support the continuing personal and professional development of all team members.
• Manage appointment, dismissal, performance management and reward of the team(s) to effectively manage resources within the function.
• Establish clear accountabilities and authority levels for direct reports and build a strong culture of accountability and performance in order to ensure delivery of goals.

Knowledge, Skills, & Experience:

• Familiarity with AAIS Forms and Inland Marine coverages.
• Knowledge of relevant laws associated with underwriting Inland Marine coverages.
• Demonstrates an understanding and ability to effectively engage in the negotiation process.
• Adept at risk selection, exposure evaluation and ability to rate, quote, and sell admitted And non-admitted solutions for Marine lines of business.
• Excellent organizational skills.
• Very strong analytical, oral and written communication skills required.
• Ability to meet tight deadlines is essential.
• Strong customer service with a professional attitude and approach needed.
• Ability to interact and communicate with various levels of the organization to cross-sell or address processing requirements.
• Demonstrate significant contribution to underwriting profit.
• Proficient in associated computer programs, including Word, Excel, Outlook, etc.
• Bachelor’s degree or equivalent combination of education and experience.
• At least 10 years of dedicated Inland Marine underwriting with clear progression of scope and responsibility.
• Experience of managing a book of at least $5M.
• Experience working with admitted and non-admitted, wholesale and retail, brokers and agents.
• AMIM and/or CPCU preferred.
• Ability to travel as needed.

At Aspen we know that having a diverse and inclusive workforce is good for our people, good for our business and good for the environments in which we operate.  We therefore welcome applications from people which allows us to draw on diverse cultures, perspectives, skills and experiences.