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

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 flexible 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 flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We’ve got your back.

Let’s care for our society and our planet With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us? Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the general aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what’s ahead.

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us. Let’s care for tomorrow.

People With Disabilities We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email [email protected]

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📌 Underwriting Business Analyst (m/f/d) - Liability (Madrid)
🏢 Allianz Commercial
📍 Madrid