Insurance Underwriter

New Energy Risk (NER) helps solve global challenges at an industrial scale. Our clients are technology and project developers seeking capital to commercialize their novel technologies. We assess both commercial and technology risk and design insurance solutions that relocate these risks from the capital markets to the insurance markets. As a result of this risk transfer, our products reduce our clients’ cost of capital and accelerate their commercialization. More, faster, and cheaper capital investment promotes the deployment of critical innovations against climate change, pollution, and other issues facing our world today. Over just the past six years, NER’s small team has helped unlock over $2.5B in capital for a range of projects, including fuel cells for Bloom Energy, RES Polyflow’s conversion of plastic waste to fuel, and the advancement of medical isotope technology by SHINE.

NER is a unique platform with partners including some of the world’s largest insurance companies and institutional investors. Founded in 2010, we have the reputation of an established company with the nimbleness of a startup. We are growing rapidly to meet market demand as more capital flows toward emerging energy and other technology markets.

We have reached an inflection point across several high-growth sectors with enormous potential. Inbound deal flow has accelerated and we now have the need to add experienced insurance underwriting talent to our team to: i) interface with underwriters at our partner carriers to secure approvals for our transactions and ensure their execution; ii) in conjunction with the business development team, identify and develop innovative insurance products and programs; iii) secure additional carrier support and reinsurance capacity for core and new programs; and iv) support our business development team in the development of distribution plans for our programs, including those developed by the underwriter.

We are seeking a self-starting individual who can work both independently and collaboratively with our colleagues and our world-class insurance partners. The insurance underwriter, reporting to the president, would be an integral part of our team and take advantage of NER’s leading market position and reputation, and be responsible contributing to NER’s growth by developing programs that become meaningful sources of recurring revenue for the company.

An ideal applicant for the insurance underwriter will have skills relating to these disciplines:

1. Specialty insurance structures for energy or infrastructure assets and operations. NER’s clients have processes, equipment, and assets that are considered innovative or integrate novel technology with more standard technology; standard insurance products are often an imperfect fit. We develop bespoke insurance programs and place them with our insurance partners supported by treaty capacity. A successful candidate will understand existing insurance products; work effectively with both existing and new clients and their investors, brokers, and our insurance partners to close high value transactions; and identify new insurance products (including innovations on existing standard products), creating more customized and high-value insurance solutions.
2. Financing structure literacy. A successful candidate will be able to understand the financing structures used by our clients and their customers to acquire and operate their assets, given that our insurance solutions support cash flow and asset value.
3. Reinsurance underwriting and policy forms. NER works with multiple industry-leading insurers and reinsurers to place coverages, and our ability to structure coverages and programs that meet their underwriting requirements is a key component of our success. A successful candidate will have experience navigating the underwriting process, understand policy structures, and have familiarity with underwriting requirements typical at large, multi-national insurers and reinsurers.
4. Insurance program distribution and management. Active relationship management with key producers, clients, and insurance partners is critical to maintain NER’s reputation for responsiveness and problem-solving. We place great importance on having a deep understanding of, and empathy for, our clients who themselves are often entrepreneurs addressing multiple challenges in their businesses. A successful candidate will have experience in supporting business development professionals with client relationship management, familiarity with distribution strategies for insurance programs, and comfort establishing and managing the processes and workflows that enable successful transactions and business outcomes for our programs.

Other day-to-day tasks for the insurance underwriter include but are not limited to:

• Serving as the primary point of contact with insurance brokers, reinsurance brokers, and insurance partners for in-force policies and programs
• Attending and speaking at conferences and other industry events on behalf of NER
• Reviewing applications both independently and as a team to evaluate submissions
• Working with colleagues to develop marketing collateral to support the insurance products and programs
• Working with colleagues to monitor and report on the progress of product and program launches as well as key metrics for active programs and in-force business
• Collaborating with colleagues to successfully transition pipeline clients to policy execution and insurance policy issuance

With considerations in place for COVID-19 restrictions and CDC guidelines, eventual domestic and occasional international travel to partner sites and offices for site visits and marketing meetings is required (approximately 25%).

Qualifications

New Energy Risk is an equal opportunity employer. Diversity, equity, and inclusion are values we uphold as a team. Qualified applicants of any background are encouraged to apply. (However, at this time, we are unable to offer visas and will only hire those legally permitted to work in the US.)

Required

• Bachelor’s degree
• Five or more years’ experience in insurance, reinsurance, or risk management
• Proficiency in risk analysis, insurance pricing approaches and techniques
• Experience in product and program development and program management
• Familiarity with macrotrends in renewable energy, both commercially and technologically
• Ability to learn the ins and outs of new technologies
• Demonstrated excellent verbal and written communication skills
• Ability to multitask and manage multiple projects/clients at once
• Highly organized and excellent attention to detail
• Proficiency in MS PowerPoint, Word, Excel
• A team player with a desire to work with close-knit and high-performing colleagues

Desired

• P&L or Business Unit responsibility and track record
• Demonstrated background in insurance capital allocation and pricing techniques
• Direct involvement with the renewable energy industry (e.g. complex energy and infrastructure projects and assets; exposure to the customer application and use cases of new energy technologies and their financial profiles)
• Experience in working with brokers to develop distribution strategies and identify continued opportunities in the market
• Familiarity with Salesforce or similar CRM systems

Compensation and Benefits

• Salary commensurate with experience
• Annual bonus incentive
• Stock options
• Unlimited vacation
• Group health insurance options (including dental, vision, life, disability)
• 401(k)