Flood Program Reinsurance Underwriter and Modeling Specialist

Assurant, Inc.

Job Overview

Location

United States Virtual

Job Type

Full-time

Full Job Description

📋 Description

• As the Flood Program Reinsurance Underwriter and Modeling Specialist at Assurant, you will play a pivotal role in driving the profitable growth of the company’s private flood portfolio by combining underwriting expertise with advanced modeling and analytics to ensure risk selection, pricing, and portfolio performance align with strategic objectives.
• You will serve as a critical bridge between underwriting, actuarial, reinsurance, and data analytics teams, leveraging your technical and analytical skills to refine risk frameworks, enhance product strategy, and maintain underwriting integrity across complex flood risks.
• Day to day, you will monitor the quality of the private flood portfolio and recommend targeted geographic caps and reinsurance coverage to manage accumulation risk and optimize capital efficiency.
• You will assist the internal reinsurance buying team by providing underwriting guidelines, conducting underwriting audits, and supplying data to external reinsurance partners to support informed treaty negotiations and placements.
• You will liaise with exposure modeling, actuarial, data analytics, and predictive modeling teams to continuously refine exposure assumptions, risk selection criteria, and pricing models using the latest industry tools and data.
• You will manage external audits and compliance requests, ensuring all underwriting practices meet regulatory and internal standards while maintaining audit readiness.
• You will contribute to the evaluation of internal and external datasets to improve risk selection, identifying trends and anomalies that inform underwriting guidelines and product enhancements.
• You will measure and monitor key performance metrics for the private flood program—including quoting activity, quote-to-bind ratios, and average premium—and recommend specific, data-driven actions to meet or exceed target metrics.
• You will manage new business submission flow, providing direction to the rating and operations groups to develop accurate, timely quotes that align with underwriting appetite and pricing strategy.
• You will train and mentor junior underwriters, fostering consistency in underwriting decisions and promoting best practices in risk assessment and documentation.
• You will track and audit underwriting decisions made by junior underwriters, providing feedback and corrective guidance to ensure adherence to underwriting guidelines and data integrity.
• You will constantly scan the private flood insurance market for emerging trends, competitor activity, and regulatory changes, leveraging market intelligence to recommend program adjustments that maintain competitiveness while limiting selection risk.
• You will collaborate with sales, underwriting, and operations teams to ensure client service objectives are met, acting as a subject matter expert to support complex submissions and resolve underwriting challenges.
• You will contribute to underwriting automation efforts by providing insights on workflow inefficiencies and rating mechanism improvements, helping to streamline processes and reduce manual intervention.
• You will work closely with management, actuarial, and reinsurance teams to set triggers and metrics that ensure the product continues to grow profitably while maintaining modeled integrity and solvency alignment.
• You will monitor program finance and exposure reporting, initiating underwriting corrections when deviations from targets are identified to preserve portfolio health.
• You will assist in prospecting new business by developing relationships with the sales team and retail agencies, positioning Assurant as a preferred partner in the flood insurance space.
• You will accompany sales teams on agency visits as an underwriting subject matter expert, assisting in the development of agency-specific value propositions that highlight Assurant’s underwriting strength and service excellence.
• You will develop custom underwriting solutions tailored to unique customer needs and external market conditions, balancing innovation with underwriting integrity to expand market reach without compromising risk standards.
• You will serve as a referral underwriter for large commercial and residential property schedules and complex flood risks, applying expert judgment to assess structural, elevation, and exposure factors in high-value risks.
• You will leverage flood map data and structure-specific exposure information to develop Probable Maximum Loss (PML) estimates and loss projections, using sound actuarial judgment to price complex and large property schedules accurately.
• You will communicate with retail agents and brokers to obtain necessary documentation for underwriting and pricing flood risk, ensuring complete and accurate submissions that support timely quoting and binding.
• The Flood Program team at Assurant operates within a dynamic, innovative culture that values data-driven decision-making, collaboration, and continuous improvement, offering you the opportunity to shape the future of private flood insurance in a Fortune 500 environment.
• You will gain deep expertise in catastrophe modeling, reinsurance structures, and regulatory frameworks specific to flood risk, positioning you as a specialist in a growing and socially critical insurance niche.
• This role offers significant professional growth through cross-functional collaboration, exposure to advanced analytics tools, and the chance to influence product strategy, underwriting guidelines, and enterprise-wide risk management practices.

🎯 Requirements

• A minimum of 5 years of experience as a Business Analyst within the insurance industry, with insurance modeling or underwriting experience strongly desired.
• Advanced proficiency in Excel, including complex formulas, pivot tables, VBA, and data visualization, coupled with foundational knowledge of SQL for data extraction and manipulation.
• Demonstrated ability to analyze structural integrity of high-rise commercial buildings or equivalent complex property risks, with preferred experience in evaluating construction types, occupancy, and flood vulnerability.

🏖️ Benefits

• Competitive pay range of $74,600.00 to $124,700.00, reflecting Assurant’s commitment to fair and market-competitive compensation based on experience, skills, and location.
• Comprehensive U.S. benefits package including health, dental, vision, life insurance, and retirement savings plans, with additional resources available via myassurantbenefits.com for employee well-being and financial security.
• Access to Assurant’s award-winning culture, recognized as a Best/Great Place to Work in 15 countries and honored as a Fortune America’s Most Innovative Company, fostering innovation, service excellence, and calculated risk-taking in a supportive environment.

Skills & Technologies

Remote

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Assurant, Inc.

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About Assurant, Inc.

Assurant, Inc. is a global provider of risk management products and services, headquartered in New York. The company offers extended service contracts, vehicle protection, pre-funded funeral insurance, renters insurance, lender-placed homeowners insurance, and other specialty property and casualty coverage. It partners with lenders, manufacturers, mobile carriers, funeral homes, and property managers to distribute its products primarily in North America, Latin America, and Europe. Founded in 1892 and publicly traded on the NYSE, Assurant focuses on supporting consumer purchases of homes, vehicles, mobile devices, and appliances through underwriting, claims administration, and customer support services.

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