Underwriting Business Analyst (m/f/d) - Liability

Let’s care for tomorrow.

Your ambitions. Your dreams. Your tomorrow

Whether it’s aircraft, international business or offshore wind parks, Allianz Commercial has an extensive range of risks covered when it comes to protecting businesses.

Join Allianz Commercial as an Underwriting Business Analyst supporting our global Liability underwriting function - a role that sits at the intersection of underwriting governance, data analytics, process improvement, and strategic change delivery. This position is open across multiple locations: London, Munich, Frankfurt, and Madrid. Based within one of the world's leading specialty commercial insurance operations, you will work closely with underwriters and functional stakeholders across multiple regions to maintain underwriting standards, enhance portfolio reporting, and contribute to underwriting transformation initiatives. This is an excellent opportunity for an early-career professional looking to build a broad, hands-on understanding of underwriting operations and governance within a truly global environment.

Some of your specific responsibilities could include:

- Support the delivery of underwriting transformation initiatives designed to improve efficiency, consistency, and underwriting effectiveness across the Liability line of business
- Document current and future-state processes, monitor implementation progress, and assist with change management activities, communications, and benefit tracking
- Maintain Liability Connect and other communication channels; produce articles, updates, guidance notes,



and briefing materials to support engagement across regional underwriting teams
- Support the preparation of portfolio management reports, management information, and business performance analysis to improve visibility of underwriting performance
- Assist with data collection, validation, and reporting; produce insights and presentations to support portfolio discussions and decision-making
- Support the maintenance and periodic review of Liability Functional Rules, underwriting guidelines, and governance frameworks
- Coordinate stakeholder feedback, document updates, and communications relating to underwriting standards; support audit, compliance, and quality assurance activities
- Maintain underwriting authority documentation, guidance materials, and supporting tools; coordinate training sessions, webinars, and knowledge-sharing activities across the underwriting community

What You’ll Bring to the Role

- Up to 3 years' experience in insurance, underwriting operations, business analysis, consulting, project management, or a related field
- A genuine interest in insurance, underwriting, data, and process improvement
- Strong analytical and organizational skills, with the ability to contribute to multiple workstreams and deliver to deadlines
- Eagerness to learn - curious, proactive,



and motivated to develop expertise across the full breadth of the role, from governance and analytics to change delivery and stakeholder engagement
- Advanced Microsoft Office skills (Excel, PowerPoint, Word); experience with data visualization or reporting tools (e.g., Power BI, Tableau) is a plus
- Clear and confident written and verbal communication skills - able to produce well-structured reports, guidance materials, and stakeholder updates
- Familiarity with AI-powered productivity tools (e.g., Microsoft Copilot, AI-assisted data analysis) to support reporting, documentation, and workflow efficiency is an advantage

Underwriting | Entry Level | Allianz Commercial | Full-Time | Permanent

What’s in it for you?

Let’s care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss adaptable working arrangements with us.

Let’s care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let’s care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let’s care for life’s twists and turns

From our support for fle

📌 Underwriting Business Analyst (Madrid)
🏢 Allianz Global Corporate & Specialty
📍 Madrid