Job Summary:
Reviews insurance applications to evaluate, classify, and rate each risk to determine acceptability, coverage, and pricing. Establishes, maintains and develops agency and/or broker relationships. Position has defined underwriting authority and business development responsibility. Provides underwriting in single or multiple areas of liability, property, or special contingency coverage.
Key Responsibilities:
Relying on broad experience and judgment, this role is responsible for accomplishing the following assignments and has substantial latitude for actions or decisions made with minimal review. These assignments are varied in nature:
- Evaluate new and renewal policy applications and related documents to classify and assess each risk, determine acceptability, assign rating, indicate endorsements and limits, and determine appropriate pricing.
- Contact and respond to verbal and written inquiries from brokers within designated timeframe to provide appropriate information and serve as an underwriting resource.
- Create and maintain all documentation (physical and electronic) including new and renewal bound files, underwriting worksheets, documentation of phone conversations, and other key documents according to departmental guidelines.
- Adhere to all company underwriting authority directives, underwriting guidelines, and other applicable company policies and procedures.
- Approve or deny within given authority or recommend approval or denial to higher authority.
- Cultivate relationships with internal and external contact and leadership to facilitate the underwriting process, promote business development, and to remain abreast of industry trends.
- Assist with coaching and ongoing training of underwriters. Assist with the review and evaluation of assigned underwriters.
- Serve as a resource to other departmental staff with regards to underwriting procedures, departmental guidelines and portfolio performance.
Education:
4 Year / Bachelor's Degree
Business Administration, Accounting, Finance, a related field, or the equivalent education and/or experience
Competencies
Planning
• Develop work plans, establish timelines, and set goals for assigned work and work unit.
• Assign resources as needed.
• Meet commitments on deadlines.
Communication
• Communicate team or work unit results and recommendations with management and clients as appropriate.
Cost Management
• Drive improvement in existing business processes and assist in the implementation of new processes.
• Ensure unit performs work thoroughly in a cost-efficient manner and at a high productivity level.
Business Controls and Policies
• Comply with all corporate policies and procedures.
• Report any breakdown in controls to management.
• Conduct all activities in a safe manner.
• Ensure all the above are followed within assigned work unit.
People Management
• Plan, conduct, and supervise assignments. Train assigned personnel and assign work.
• May assist with the review and evaluation of assigned personnel.
Certifications, Licenses, and Designations
Studies toward attaining a Registered Professional Liability Underwriter (RPLU), Chartered Property Casualty Underwriter (CPCU), Associate in Commercial Underwriting (AU), Certified Insurance Counselor (CIC) or equivalent insurance designation depending on specialty area
Preferred
State-specific insurance license depending on specialty area