Management Insurance

James V. Festa

*** ***** ******, ***** **********, NJ 07060 ******@***.*** 908-***-****

Versatile and well rounded insurance professional with a unique mix of skills and competencies to drive positive bottom-line results and sustainable growth. A confident leader with strong communication skills and a unique ability to build strong teams, create partnerships, and maintain favorable client relationships. Knowledgeable in all Casualty lines of business (Auto Liability, General Liability, Workers’ Compensation) in underwriting procedures and reinsurance placement.

Professional Strengths & Competencies

Underwriting Reinsurance Documentation (BRDs) Training & Development

Relationship Management Strategic Planning Business Process Improvement

System Development Life Cycle Vendor Management

Professional Experience:

American International Group (AIG) New York, NY

Senior Business Analyst for Underwriting 9/2003 to 3/2016

Led the development and maintenance of Global Risk Management Group’s underwriting and reinsurance systems for projects including creative business requirement resolutions, analysis of system improvements, coordination of activities with underwriters and technology groups, project planning and scheduling, user acceptance testing, system training, business rules engine analysis, industry and corporate compliance, content management, creating and reviewing BRDs and documentation.

Provided technical and underwriting direction and recommendations to create new / improved system functionality for underwriting and reinsurance procedures for Auto Liability, General Liability, Workers’ Compensation, Construction and Environmental lines of business after evaluating business needs.

Knowledgeable in program structures including guaranteed cost, deductibles, self-insured retention, paid loss and incurred loss retrospective rating, coverage specifications and endorsement wording for new and renewal business.

Conducted feasibility studies of new business requirements and/or enhancement specifications and presented recommended changes to senior management.

Supervised and led the implementation of new or improved business practices and data workflows which included underwriting procedures, reinsurance placement requirements, content management and business rules engine.

Developed and supported the full system development life cycle from design through implementation by advising and consulting on underwriting / reinsurance system modifications, data integrity, system integration and workflows.

Interacted with programmers, consultants and underwriting staff daily to define programming specifications, workflows, BRDs and underwriting practices which included the coding of reinsurance placement.

Created and performed test cases and scenarios, performed and evaluated user acceptance testing (UAT) and documented results to provide feedback to upper management. Reported and re-tested system defects to programming staff on new and/or improved underwriting / reinsurance system functionality and logic.

Provided daily underwriting and reinsurance production support and conducted companywide underwriting training both in person and virtually.

Subject matter expert for all internal stakeholders for both underwriting and technical system issues and logic.

Researched and recommended system improvements to ensure adherence to budget.

Organized and conducted companywide underwriting training.

oLed in-person classroom training at multiple locations including Chicago, Los Angeles, San Francisco, Philadelphia and Boston.

oConducted and delivered webinars and provided one-on-one post training telephone support as needed.

oCompiled training documents and FAQ distributed to underwriters and system users and reduced technical and business issues.

James V. Festa Page 2 of 2

Professional Experience Continued…

Royal & Sun Alliance Insurance Companies New York, NY

Technical Assistant 2/2001 to 9/2003

Directed all facets of casualty accounts for large commercial risks with premiums in excess of $1.5 million in the servicing and booking of Fortune 1000 accounts. Analyzed new and renewal account submissions which included analyzing financials and D&B reports, coverage specifications, development of premiums and reinsurance placement for all casualty lines of business

Program structures include guaranteed cost, deductibles, self-insured retentions and paid and incurred loss retrospective rating.

Evaluated exposure history and loss runs, developed composite rates and calculated deductible credits to prepare loss projections.

Prepared instructions for manual rating and policy issuance and reviewed legal and collateral agreements.

Compiled and developed broker proposals and binders, claim billings, policy manuscript endorsement wording, invoices, state filings and reinsurance placement.

Resolved account issues and discrepancies including cancellations, reinstatements and resolution of state bureau criticisms.

Reviewed and approved audit adjustments.

Conducted and participated in team presentations to clients and brokers.

Completed 95% of broker proposals and binders without any errors and met all time frames.

Participated and assisted in 90% of client and broker team presentations.

Helped negotiate and obtain reinsurance quotes by preparing account submissions, communicating with reinsurers, maintaining reinsurance cash flow spreadsheets and reviewing certificates for accuracy.

Reliance National Insurance Company New York, NY

Junior Underwriter 12/1998 to 2/2001

Serviced commercial risk management accounts with premiums in excess of $1.5 million for Fortune 500 contracts. Analyzed coverage specifications, reinsurance and development of premiums for quotations on new and renewal accounts for all casualty lines of business including program structures of guaranteed cost, deductibles, self-insured retentions and paid and incurred loss retrospective rating.

Prepared and approved broker proposals and binders, legal agreements, reinsurance placement and bookings.

Prepared loss and experience ratings and development of composite rates.

Reviewed audits and approved audit adjustments.

Preformed collateral adequacy reviews to determine necessary adjustments.

Developed appropriate policy and endorsement wording for issuance.

Daily broker contact concerning account maintenance.

Assisted in training and development of technical staff.

- ADDITIONAL EXPERIENCE -

Supervisor – Kemper National Insurance Companies 1990 to 1998 New York, NY

Junior Underwriter – Aegen International, Inc. 1989 to 1990 New York, NY

Assistant Underwriter – American International Group 1987 to 1989 New York, NY

Rater – Empire Mutual Insurance Company, Inc. 1986 to 1987 New York, NY

Education & Training

Majored in Business Management - Baruch College, New York, NY

- PROFESSIONAL DEVELOPMENT -

Main Casualty Courses – The College of Insurance, New York, NY

TECHNICAL SKILLS - MS Office Suite (Word, Excel, PowerPoint, Outlook)

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