# Subcontractor Default Underwriting Lead at Shepherd

Shepherd is hiring a Subcontractor Default Underwriting Lead in San Francisco, United States. It pays $200k-$240k a year and Level rates it Little AI ●○○○; you can [apply on Level](https://jobsbylevel.com/go/3afc3b12-8736-449a-9ff4-f0211c9924dc?utm_medium=ai-agent).

AI Level 1, AI centrality 28 out of 100. San Francisco.

## Details

- Company: [Shepherd](https://jobsbylevel.com/companies/shepherd)
- AI level: AI Level 1 (score 28 out of 100)
- Location: San Francisco
- Salary: $200k-$240k
- Posted: October 19, 2026
- Apply: https://jobsbylevel.com/go/3afc3b12-8736-449a-9ff4-f0211c9924dc?utm_medium=ai-agent

## Description

What We Do Commercial insurance still runs on processes built decades ago. Underwriting is slow, and pricing leans on broad averages instead of the specifics of each risk. Technology can change how commercial risk is priced and managed, as long as it's paired with real underwriting expertise. The companies that get this right will shape the next era of the industry, and Shepherd intends to lead it. Shepherd is a Managing General Underwriter (MGU) building the fastest and smartest AI-native commercial risk platform in the industry, where underwriters, data, and automation work together. The result is faster decisions for our broker partners and pricing that reflects the actual risk. We started where the gap is widest: construction and energy, two of the most complex and highest-hazard segments in commercial insurance. Today we write Primary and Excess Casualty, Builder’s Risk, and Workers' Compensation distributed through a nationwide network of retail brokers. Our mission is to make risk frictionless for the builders and operators shaping the physical world, from concept through construction and into decades of operation. 🚀 Our Investors Shepherd has raised over $67M, including a $42M Series B led by Intact Private Capital. Intact also partners with Shepherd to provide capacity across its insurance products. Shepherd is also backed by leading institutional investors, including Costanoa Ventures, Spark Capital, Susa Ventures, and Y Combinator. 🏗️ Subcontractor Default Underwriting Lead Shepherd is launching a Subcontractor Default Insurance (SDI) product in support of its existing Construction vertical. The Subcontractor Default Underwriting Lead will play a lead role in building and shaping the new SDI product expansion, and define how we best evaluate subcontractor prequalification controls and subcontractor management practices. This is an opportunity to help define the underwriting strategy, go-to-market, and drive long-term profitable growth for the core pillars of Shepherd’s business. We're looking for someone with 8+ years of SDI underwriting experience, a proven track record of leadership, deep broker relationships, and an entrepreneurial mindset who is excited to build something new with modern technology and a forward-thinking team. 🎯 About You You are a builder who wants to shape the future of commercial insurance and do the best work of your career. You have deep subcontractor default insurance expertise, a loyal broker network, and the drive to turn a blank page into a profitable book. You'd be a great fit if you have: 8+ years of underwriting experience, with significant direct experience underwriting Subcontractor Default Insurance at an established SDI carrier or program. Contract surety underwriters with meaningful SDI exposure will also be considered. Deep knowledge of general contractors and construction managers across the construction industry. A proven record of building and growing an SDI portfolio profitably: originating new business, quoting, binding, and scaling premium while managing to loss-ratio and combined-ratio targets. Strong financial analysis skills, including reviewing contractor financial statements, work-in-progress (WIP) schedules, backlog, working capital, and bank lines, and judging a contractor's capacity to perform. Deep understanding of how general contractors prequalify, select, and manage subcontractors, and the ability to evaluate the strength of a contractor's prequalification, monitoring, and default-management practices. Technical command of SDI program structure, including enrollment, per-loss deductibles, co-pays, per-loss and aggregate limits, project and annual programs, and how SDI compares to subcontractor bonds. Sound judgment on policy wording, direct and indirect cost coverage, and default, cure, and completion scenarios, working closely with claims on complex losses. Established broker relationships at the regional and national level that can drive submission flow

The description is cut here. Read the full offer: https://jobsbylevel.com/jobs/subcontractor-default-underwriting-lead-at-shepherd-e896e1

Source: https://jobsbylevel.com/jobs/subcontractor-default-underwriting-lead-at-shepherd-e896e1

## Cite this page

Level. https://jobsbylevel.com/jobs/subcontractor-default-underwriting-lead-at-shepherd-e896e1.

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