Head of DA Underwriting and Product Delivery

Location: London United Kingdom

Employment Type: Full-time

Your Role

We are seeking a strategic and experienced leader to head our UK Delegated Authority (DA) Product Delivery and Underwriting function. This critical leadership role spans three core areas: Underwriting Oversight and Performance Management Product Delivery Oversight and Pricing & Analytics. The role ensures delegated underwriting pricing product design and delivery practices meet regulatory expectations align with internal standards and uphold the principles of fairness and transparency in line with our Consumer Duty obligations.

The successful candidate will design and maintain an effective team structure with clearly defined responsibilities. Each sub-team under their leadership will operate as a specialised unit contributing meaningfully to the broader goals of the function through a culture of accountability cross-functional collaboration and subject matter expertise.

Key Responsibilities

Underwriting Oversight & Performance Management

• Oversee delegated underwriting practices for Retail and Commercial lines across live and run-off UK portfolios (supporting other regions as needed).
• Maintain and monitor the underwriting authority register to ensure compliance with limits classes and geographic scopes.
• Track and escalate underwriting breaches including unauthorised risk acceptance and sub-delegation concerns.
• Define own and monitor KPIs related to underwriting results risk appetite profitability accumulation and behaviour of delegated underwriters.
• Develop and execute a risk-based Underwriting Oversight and technical review methodology.
• Ensure robust governance in risk selection accumulation control and portfolio segmentation.
• Generate relevant reports to meet stakeholder and regulatory requirements.
• Ensure the accuracy and quality of underwriting data from delegated agents collaborating with subject matter experts to address any issues.

Product Delivery Oversight

• Oversee the full lifecycle of delegated productsfrom design to withdrawal and run-off.
• Review and sign off policy wordings during onboarding and at material changes ensuring documents are clear fair and meet regulatory and customer outcome expectations.
• Ensure product alignment with Consumer Duty principles (value clarity fairness) in partnership with the Product Monitoring Team.
• Lead input into product committees and approval processes ensuring adherence to the Product Oversight and Governance (POG) framework.
• Track changes to products maintain wording accuracy and oversee decommissioning and closure planning.
• Maintain a central repository of current wordings aligned with legal and regulatory developments.
• Ensure product governance at managing general agents (MGAs) and partners aligns with internal and regulatory expectations; participate in key client governance forums when appropriate.

Pricing & Analytics

• Oversee delegated pricing models and ensure consistency with underwriting strategies and actuarial guidance.
• Maintain a delegated pricing authority register and monitor discretion use and pricing-related incidents.
• Track pricing versus cost metrics distribution bias and ensure pricing aligns with ESG and inclusive standards.
• Provide pricing input for Fair Value Assessments Product Reviews and governance reporting.
• Develop and maintain pricing dashboards and MI tools to support regulatory readiness and oversight.
• Approve pricing changes and version controls and ensure soundness of underlying assumptions.
• Collaborate with Data and Reinsurance teams to support exposure management and forecasting.

Note: Although the role is UK-focused the team may provide support to non-UK delegated agents as neededfor example with policy wording reviews.

Key Duties

• Oversight of product delivery and governance for all UK delegated insurance products.
• Underwriting performance management and oversight across all UK delegated authority portfolios.
• Resolve product-related queries with partners and internal stakeholders.
• Act as a technical reference point for underwriting and product-related matters across the business.

Skills and Experience

• Strong communication skills with experience working in cross-functional and cross-regional teams.
• High level of motivation responsibility and a growth mindset.
• Commitment to collaborative success and delivery of oversight goals alongside diverse stakeholder groups.
• Strong analytical and organisational skills.
• Familiarity with the Munich Re Group structure is desirable.
• In-depth understanding of applicable regulatory frameworks (e.g. Consumer Duty PROD).
• Prior experience in product or underwriting roles is essential.
• Experience in drafting and reviewing policy wording and insurance contracts.
• Strong background in Retail or Commercial underwriting.

Qualifications

• University degree or
• Professional insurance qualifications (e.g. ACII or equivalent) strongly preferred.

Working at Great Lakes

At Great Lakes we are committed to providing an engaging results-driven and inclusive working environment. We recognise that diversity and collaboration drive innovation and success. We welcome and encourage applications from people of all backgrounds experiences and abilities.

About us

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose vision and direction. We pave the way towards success and see failure as learning

You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract grow and coach future leaders

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback ask and listen learn and unlearn

You will grow with your clients: Whatever our role we support business in an efficient and effective way to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts generations cultures and experiences are valued and encouraged

At Munich Re embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional intersectional and complex so we want to build a diverse workforce that includes a wide range of racial ethnic sexual and gender identities; economic and geographic backgrounds; physical abilities; ages; life school and career experiences; and political religious and personal beliefs. Additionally we are committed to building an equitable and inclusive work environment where this diversity is celebrated valued and has equitable opportunities to succeed.

If you are excited about this role but your experience does not align perfectly with everything outlined or you dont meet every requirement we encourage you to apply anyway. You might just be the candidate we are looking for!

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.