Responsible for profitable growth of specialty area insurance business through proper classification and pricing of risks. Evaluates complex business for risk acceptability; matching price to exposure, loss frequency and severity for profitability, and rating plans/modifications for renewal retention. Establishes collaborative relationships with agencies/producers to understand the external marketplace, and underwrite within established performance standards. As requested and assigned by department management, assumes responsibility for special projects that may include development of new products, programs, Underwriting tools, etc. May be asked to represent department in cross-functional project teams.
• Accepts, modifies or rejects risks based on a review of business in terms of loss experience, inspection reports, file information, web resources, policyholder tenure, related policies, and nature of risk in accordance with Company guidelines, standards and compliance with state laws.
• Provides documentation for any exceptions to established guidelines and critical account information relating to the final Underwriting decision.
• Verifies coverage eligibility.
• Interprets policy contract language/forms and uses approved classification systems, rating plans and selection standards to determine eligibility, desirability and proper classification/pricing.
• Effectively communicates decisions and resolve agent/customer concerns promptly.
• Provides technical assistance to internal and external customers regarding coverage interpretations, policy and endorsement provisions, and Underwriting acceptability for specialty area coverages.
• Develops collaborative working relationships with assigned agents providing excellent customer service.
• Communicates effectively via phone calls and email to gather and analyze necessary information critical to the Underwriting process.
• Occasionally goes out on field visits to create new business opportunities and improve policy renewal retention.
• Informs management of weakness in coverage and/or products that are adversely impacting growth potential.
• Gathers pertinent competitive information to assist in developing recommendations to product development.
• Maintains Underwriting quality standards.
• Mentors and trains professional and support staff.
• It is expected that Sr Underwriter will visit each broker assigned to them or their Underwriting team a minimum of two times a year.
• Attends marketing events that may be organized by the Company. Examples of such events may include but are not limited to Sporting Events, Trade Shows, Conventions, Roundtable and/or Broker Advisory Committee meetings.
• Participation in broker visitations and marketing events may include overnight and/or out-of-state travel.
• Provides feedback gathered from marketing activities to management through marketing call reports.
• Participates in Underwriting and production presentations when approved by management.
• Demonstrates ability to negotiate, influence and close deals.
High school diploma required. Bachelor's degree, with emphasis in Business, Accounting, Statistics or related field or equivalent education and experience required.
5+ years experience Underwriting in specialty area. Proficiency with automated Underwriting systems. Previous responsibility/accountability for department level development and analysis projects preferred.
Applies advanced Underwriting concepts, practices, and procedures in area of specialization. Ability to read and interpret documents such as submissions, loss control reports, and standard policy forms/endorsements. Demonstrated ability to present complex data/information to varied audiences. Proven organizational, analytical, and time management skills. Demonstrated ability to negotiate, influence and close deals. Excellent interpersonal and teamwork skills. Demonstrated ability to train and mentor professional and support staff.