SUA in the SRC WT
Chubb Group - Illinois

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For more than 125 years, Chubb & Son, a division of Federal Insurance Company has been delivering exceptional property and casualty insurance products and services to businesses and individuals around the world.

Today, we are the 11th largest property and casualty insurer in the United States and have a worldwide network of some 120 offices in 28 countries staffed by 10,600 employees. The Chubb Corporation reported $50.6 billion in assets and $14.1 billion in revenues in 2007. According to Fortune magazine, Chubb is the 176th largest U.S.-based corporation. The magazine also includes Chubb in its list of "America's Most Admired Companies." Forbes listed Chubb as one of America's 400 Best Big Companies.

Chubb has maintained its reputation and financial stability with underwriting expertise, unparalleled customer service, unique industry-specific specialization and a deep respect for all of our employees.

Currently, Chubb is seeking a Professional Liability Underwriter Associate for the Chicago Specialty Risk Center (SRC) team. Position Description:
(This position is pay band flexible depending on the successful candidate it may be a pay band 2,3 or 4)
The Specialty Underwriting Associate contributes to the achievement of customer group or specialty goals, as well as corporate goals relating to growth, profit, renewal retention, rate, exposure, service and producer relationships. For assigned customer group, the Specialty Underwriting Associate:

• Books, binds, and issues new line and renewal policies, mid-term endorsements, and cancellations in applicable rating and issuance systems in accordance with standardized workflows and roles and responsibilities.
• Proactively assists with account management and achievement of service goals.
• Communicates with agents/brokers and underwriters on status of open items.
• Ensures electronic file integrity.
• Processes cancellations, BORs, and countersigning. Researches and resolves premium discrepancies and compliance related issues.
• Coordinates renewal process for the underwriter. Reviews renewal submission for technical completeness and follows up with producer for missing information.
• Analyzes renewal account-specific information (including, but not limited to, loss information, financials, application). Creates underwriting analysis template and documents template with renewal changes for referral to the underwriter. Rates renewal policies and determines pricing strategy in conjunction with underwriter. Coordinates the quotation process and completes quote letter for referral to the underwriter.
• Completes and follows up on Manuscript Endorsement Requests.
• Includes dual accountability to OSD and underwriting management.

Knowledge, skills and abilities:
The individual in this position must have strong communication, multi-tasking, and
organizational skills. In addition, the individual must demonstrate the following skills:
• Mathematical aptitude.
• Knowledge of standardized workflows, roles and responsibilities, and compliance requirements.
• Knowledge of all applicable rating and issuance systems.
• Knowledge of electronic systems (e.g., WIP, CUW, Producer Inquiry, Countersignature, Non-Resident License Inquiry, MIS, Lotus Notes, Internet).
• Proficiency in Word and Excel.
• Knowledge of policy forms.
• Knowledge of underwriting principles, underwriting information, policy coverages and key endorsements.
• Basic understanding of financial concepts and terminology.
• Knowledge of rating/pricing.
• Ability to recognize exposure to loss.
• Ability to identify account rounding opportunities based on knowledge of product/appetite strategies.
• Ability to organize work and perform within time constraints.
• Strong written and verbal communication skills.

Education and Experience:
High School diploma or equivalent. Previous experience in similar role preferred.

Chubb Group - 21 months ago - save job
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