Vice President Builders Risk Underwriting - Intellium

FM · Boston, MA, Suffolk County, MA; Massachusetts, United States

Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.

Responsible for expanding and executing on FM’s Builders Risk and construction capabilities, fostering collaboration across business units, functions, and geographies. Initially focused on the rapidly growing data center sector, this role will establish the strategic foundation, underwriting framework, product direction, portfolio management approach, and market engagement model required to build a market-leading construction practice. This role will work collaboratively across other FM business verticals including power generation, renewable energy, and other critical infrastructure industries.

• Define FM’s market position and engineering-led value proposition within the Builder’s risk insurance marketplace. 

• Identify and prioritize target segments, beginning with data centers and expanding into selected adjacent sectors. 

• Create a roadmap for sustainable portfolio growth, underwriting profitability, organizational capability, and market expansion. 

• Monitor construction investment trends, emerging technologies, project delivery models, and evolving customer needs. 

• Develop and execute a multi-year Builders Risk and construction industry strategy aligned with FM’s growth objectives. 

• Translate engineering insights into underwriting advantages, broker value, and measurable customer outcomes. 

• Create a consistent approach for transitioning projects from construction coverage to operational property programs. 

Product & Capability Development 

• Lead development of differentiated Builders Risk solutions tailored to mission-critical construction projects. 

• Integrate FM’s engineering and loss prevention expertise into underwriting, coverage, service, and customer engagement. 

• Partner with product and legal teams to evolve policy language and specialized construction solutions. 

Underwriting Strategy & Portfolio Management 

• Design underwriting frameworks, appetite statements, authorities, referral standards, and risk selection strategies. 

• Establish portfolio management disciplines, including aggregation monitoring, catastrophe exposure management, concentration controls, and capacity deployment. 

• Define target risk characteristics for data centers, power generation facilities, advanced manufacturing projects, and infrastructure developments. 

• Partner with underwriting leadership to develop pricing methodologies, risk assessment criteria, and governance routines. 

• Monitor portfolio performance and recommend adjustments to optimize risk-adjusted returns and growth. 

Market Development 

• Build senior relationships with construction brokers, developers, owners, contractors, and other project stakeholders. 

• Serve as FM’s internal and external thought leader for Builders Risk and construction risk. 

• Represent FM in broker meetings, customer engagements, and relevant industry forums. 

• Assess competitive dynamics and recommend actions that increase FM’s relevance, differentiation, and market share. 

• Bachelor’s degree in Risk Management, Insurance, Engineering, Construction Management, Finance, Business, or a related field required.  
• 10+ years of commercial property and/or Builders Risk underwriting experience, with significant expertise in large, complex construction projects ($1B+).  

• Demonstrated experience underwriting or managing portfolios involving data centers, power generation, renewable energy, advanced manufacturing, infrastructure, or other mission-critical construction projects.  

• Proven success developing underwriting strategies, portfolio management frameworks, and growth plans.  

• Experience establishing underwriting guidelines, authorities, pricing methodologies, and governance processes.  

• Strong understanding of construction project delivery methods, contract structures, project financing, and stakeholder relationships.  

• Experience working with large brokers, owners, developers, contractors, and engineering organizations.  

• Track record of influencing senior leaders and driving initiatives across underwriting, engineering and claims functions.

The final salary offer will vary based on geographic location, individual education, skills, and experience. The position is eligible to participate in FM's comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more. FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.