Middle Market Commercial Lines Underwriter (Finance)

1. PURPOSE

The Middle Market Commercial Lines Underwriter analyzes and reviews information, developments and trends on new and renewal accounts with premiums exceeding $25,000, to determine the risks associated with insuring the accounts while ensuring compliance with established underwriting strategies and regulatory requirements.  Incumbent needs to actively build relationships with agents to ensure a strong pipeline of submissions.  Incumbent exercises their authority to decide whether to offer, continue, modify, or reject insurance; and the position is also responsible for finalizing the amounts and types of coverage, and determining the appropriate premium. 

1. COMPETENCIES AND ESSENTIAL DUTIES

Competency Description of Duties Business Acumen

• Review new business, renewals, endorsements and quote requests to determine acceptability using established underwriting authority and company guidelines.
• Communicate underwriting decisions, techniques, and interpretation of policy forms and coverages with agents and company personnel regarding risk acceptability, incomplete information, etc.
• Provide feedback to the Underwriting Manager and designated Territory Manager on quality of submissions and interactions with agency personnel.
• Communicate underwriting and marketing philosophy or practices, to agents and policyholders and assist with education/training issues within agency.
• Document the underwriting files where required, including the actions taken, reasons for decisions, and any follow-up diary needed.

Embraces Data Analytics

• Applies data to solve common business problems.
• Compiles, manipulates and analyses data of varying complexity.
• Knowledgeable and proficient about what tools are available for data analysis and when they are appropriate to use.

Negotiation

• Visits agencies with/without the designated Territory Manager to discuss underwriting matters, assist in the development of new business and to strengthen agency relations.
• Respond to Insurance Department complaints and attend periodic hearings.

Results Oriented

• Drives profitable new business growth.
• Provide input to the Branch Management team about individual agency underwriting performance; (i.e., Agency Review meeting, Quarterly Results Management meeting, etc.
• Provide input to RVP and/or TM/SR TM on agency performance based on production results, loss ratio (profitability) results, declination ratio and other measures.

Time & Priority Management

• When requested by the Underwriting Manager, may assist in the training of Small Business Commercial Underwriters, and/or act in a consulting capacity to the Small Business Commercial Underwriter position.
• Support special underwriting projects and initiatives.  These may include, but not limited to, loss prevention, targeted re-underwriting programs and book rollovers.

Decision Making

• Establish appropriate account pricing in accordance with established underwriting authority and company guidelines.
• Order and/or analyze loss control reports, financial reports, MVR's and other underwriting reports.
• Evaluate the need for and secure appropriate facultative reinsurance in accordance with established company guidelines.
• Contribute to the development of company underwriting policy, procedures and guidelines to assure they reflect current market conditions and contribute to the attainment of Division goals.

Performs other duties as may be assigned by the Underwriting Manager-Partners or Underwriting Manager.

1. CORPORATE CORE COMPETENCIES

Competency Proficiency Description Effectively Communicates and Connects

• Communicates and negotiates effectively with peers regarding work outcomes.
• Influences by making a strong case, bringing other people on the team to understand the presented viewpoint.
• Provides feedback and is clear when disagreeing with an approach; offers suggestions for improvement.
• Attentively listens and asks clarifying questions and paraphrases to enhance understanding.
• Build and nurture positive relationships within the workplace.

Customer Focused

• Identifies explicit and implied customer needs.
• Asks probing questions to fully understand business requirements.
• Develops positive relationships with customers by meeting their needs as well as incorporating their feedback.
• Responds quickly and takes action with high quality solutions that address needs and improve overall customer experience.
• Owns resolution of customer experience outcome.

Talent Development Mindset

• Discuss technical and professional development with peers to gain suggestions for further development.
• Actively seek and act on opportunities to recognize peers for high performance.
• Stays alert to identify learning opportunities for self.

Demonstrates Adaptability

 

 

 

• Contributes to progressive thinking within the team by posing questions that challenge traditional methods or processes.
• Proposes ideas and suggests new approaches to tackling own work tasks and issues in a better way to drive organization success.
• Participate in and actively support change initiatives, and provide ideas to promote their success.
• Recognizes and manages an ambiguous work environment.
• Demonstrates flexibility in generating alternative solutions and recommendations.

Demonstrates Accountability

• Applies judgment in making decisions about own work, and takes responsibility for actions.
• Demonstrates reliability by producing steady work results and delivering on commitments to team members on time.
• Takes responsibility for regularly seeking and applying feedback and actively learning from errors and setbacks.
• Understands the mission of the organization.

1. SPECIAL RELATIONSHIPS

• This position reports to the Underwriting Manager;
• Direct contact with various levels of underwriting, loss control, premium audit and claims personnel;
• Direct contact with agents and insureds

VI.       QUALIFICATIONS

Education/

Credentials

• 4 - year degree or equivalent work experience or continuing education in CPCU, AU, IIA or CIC preferred

Experience

• Minimum of 3 years of Commercial Lines underwriting experience required

Technical/ Professional Knowledge

• Thorough working knowledge of underwriting and pricing risks
• Thorough working knowledge of company underwriting standards and philosophy
• Thorough working knowledge of all commercial lines insurance coverages forms, pricing strategies and the use of modeling and valuation tools
• Must have well-developed negotiation skills, with the ability to tactfully explain and defend underwriting decisions while maintaining and promoting a positive business relationship with agents
• Good math aptitude
• Excellent research, analytical and problem-solving skills
• Excellent oral and written communication skills
• Good PC skills, with an emphasis on Microsoft Office Suite; along with demonstrated proficiency in all supplied desktop tools, including the automated underwriting and email systems
• Proven ability to handle multiple and complex tasks
• Must have the ability to function with autonomy and independence

1. JOB REQUIREMENTS (as required by ADA – Americans with Disabilities Act)

• This position is primarily a sedentary position that requires occasional standing and walking throughout the office environment.
• Must be able to see and effectively use a computer monitor.
• Must be able to operate a computer, keyboard and applicable printers and other general office equipment.
• Must be able to access and enter information accurately using automated systems.
• Must be able to hear and communicate via the telephone and/or monitoring devices to both internal and external clients.
• Must be able to present information to individuals and groups.
• Must be able to interpret and apply concepts that may or may not be based upon established guidelines.
• Must be able to maintain acceptable attendance and adhere to scheduled work hours.
• Must have a valid driver's license and be able to operate a motor vehicle.
• Must be able to travel, with overnight stays required.