Product Manager Europe, Construction

Primary Details

Time Type: Full time

Worker Type: Employee

The purpose of this role is to strategically manage and develop a profitable portfolio of Construction risks in Europe in alignment with the business plan. This involves providing leadership in product strategy, pricing, and portfolio management, while ensuring compliance with legal and regulatory requirements. The role also includes driving profitable growth, managing resources effectively, and overseeing the country’s and Europe P&L for the Construction business lines within the organisation.

At QBE, our purpose is to enable a more resilient future.

Are you passionate about working for one of the world’s largest insurers that offers excellent opportunities to grow your career and with offices in 28 countries?

Leveraging our deep expertise and insights, QBE offers commercial, personal and specialty products and risk management solutions to help people and businesses manage risks. Today, we employ more than 12,000 people around the world.

QBE Europe SA/NV is headquartered in Brussel and while we are international in our outlook, we are also proudly local in our operations. QBE’s European Operations, which accounts for over 27% of QBE Group turnover, is a leading specialist in London market and European commercial lines business. Active in both the Lloyd’s and company market, QBE offers considerable diversity to the broking community. We are a socially responsible company and give our customers the ability to invest a portion of their premiums in environmentally and socially beneficial projects.

With our comprehensive product offering and underwriting expertise, we are able to cover a wide range of business risks, helping our clients to identify them and minimise their exposure.

The Opportunity

We are creating a new role as part of our growth European strategy plan. We are looking to grow QBE’s Construction practice across Europe. With already an existing Construction offering in France, Spain and Netherlands, we are looking to expand our Construction offering to all European offices. This role will play an active role in shaping and supporting the growth of our Construction book. Our European Construction Product Leader can be based in any of our European offices or London.

Your new role

UW Strategy and Business Plan

• Alongside the Director of Underwriting and Portfolio Management - Europe, lead and execute Construction underwriting strategy consistently across Europe and ensure the delivery of the Construction annual business plan in alignment with overall Europe and EO Construction strategy.
• Responsible for the Construction P&L across Europe, driving, shaping, and remediating the Construction portfolio across Europe as required.
• Ensure teams awareness of strategic direction of Construction portfolio to achieve delivery of business objectives.
• Recommend, implement, and manage the resources needed to deliver the Construction plan in the most effective way.

Portfolio management, performance and reporting

• In support of the Director of Underwriting and Portfolio Management - Europe, develop the Construction portfolio in line with plan, risk appetite and European/EO Underwriting strategy across Europe.
• Oversee the review and analysis of the Construction portfolio across Europe. Monitor and report on the progress against business plan, identifying deviations, recommending, and implementing remedial action, to achieve business objectives.
• Monitor and report on the progress against business plan, identify deviations, and drive actions arising from reports such as:

• regularly monitor the performance of the portfolio gross and net of reinsurance
• monitor performance against the business plan
• comply with exception reporting criteria as required
• audit the underwriting performance against QBE underwriting standards
• work closely with Insurance Operations to ensure accurate recording and measurement of insurance risks for the Construction Portfolio, including DUA’s where relevant
• recommend systems and reports to ensure the book of business is managed efficiently and effectively

Technical expertise

• Act as technical Construction leader for Europe and first point of referral for any cases that exceed the Portfolio Manager authority, escalating up to the relevant EO Construction Leader, where appropriate, maintaining the specialist technical focus.
• Refer to Director of Underwriting and Portfolio Management – Europe for input into commercially based decisions only.
• Alongside EO Products Leads, agree and communicate appropriate risk appetites for the owned line of business ensuring that portfolio teams operate within those limits.
• Alongside EO Products Leads, agree and communicate aggregate limits and govern activity within these limits for the Construction line.
• In conjunction with the countries’ P&L owner, ensure sound underwriting decisions within the product portfolio are being made, considering all risks to ensure progress toward business plan objectives.
• Contribute to the aggregate management and peer review processes to encourage and develop excellence.
• Demonstrate understanding and awareness of market dynamics and market cycle to drive and enhance business performance.

Reinsurance

• Understand and comply with any reinsurance requirements to minimize risk and to deliver to business plan objectives.
• Apply the Reinsurance strategy affecting portfolio(s).
• Manage the effective purchase of facultative reinsurance across Europe for Construction.

Compliance

• Accountable for the compliance of QBE EO’s underwriting framework for the Portfolios or business unit under their control in order that all activities (including complex underwriting):
• Comply with all legal and regulatory requirements to ensure objectives are met.
• Adhere to underwriting standards and good practice to minimize risks and maximize efficiency.
• Meet all reporting requirements.
• Enable the identification, measurement, and effective management of insurance risks.
• Ensure compliance with QBE Underwriting Authority by all staff in the department.

Stakeholder Management

• Establish and strengthen strong relationships with key internal stakeholders including CUO functions business partners, reinsurers, and colleagues, to maximize influence, promote the interests of QBE Europe and their portfolio(s) and achieve business outcomes.
• In conjunction with European Head of Market Management and its in-country homologues, establish and strengthen excellent relationships with key external stakeholders including customers, brokers and industry bodies as appropriate for their Product line.
• Represent QBE’s interests, as requested, with internal and external groups, and through participation in industry forums and corporate activity to safeguard or enhance QBE’s market position and maximise brand leverage.

People

• Lead the UW Community for Construction across Europe
• Motivate and develop the team by demonstrating good leadership behaviors and management best practice to support the achievement of business goals.
• Continually develop Product underwriting expertise and technical knowledge through identifying and implementing appropriate development activities
• Work with the Country Underwriting Managers to provide direction and support when developing the team, so as to ensure that people are available and aligned with business needs.
• Establish clear accountabilities and authority levels for team and build a strong culture of accountability and performance to ensure delivery of goals.

About You

• Experience in Construction Underwriting
• Strong Leadership skills to lead UW Community
• Experience in delivering strategic and change insurance solutions to clients who require the pooling of a broad base of technical expertise
• Knowledge of operating in a matrix management environment where active listening and influencing skills are required
• Strong background in influencing and developing new opportunities
• Strong ability in managing relationships at senior Executive & leadership level, creating positive influence and value
• Strategic thinking, analytic and structured mind
• Written and oral communication with excellent interpersonal skills and ability to influence at all levels
• Ability to manage competing and changing priorities in a dynamic environment
• Ability to operate across functions and multiple locations
• Team player, results-driven and a “can do” attitude

Why QBE? At My Best

At QBE, we want our people to feel rewarded and inspired to perform at their best, that’s why we have created “At My Best”. It’s our connection, our way of showing we have your back. We offer flexible wellbeing initiatives and benefits, support flexible parental leave for both parents, and have employee network groups that support our diverse workforce. We are committed to a fair and inclusive workplace and offer flexible working arrangements. For more, visit our careers website.

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