Underwriter - Commercial Lines
- Career Level
- Experienced (Non-Manager)
GENERAL POSITION SUMMARY
A Commercial Underwriter evaluates Commercial applications for new and renewal business and requested changes for adherence to company guidelines, degree of risk, and potential for profitable results. This position entails frequent communication with field personnel, policyholders, agents and other interested parties to obtain information, identify problem areas, determine appropriate action, and communicate and explain underwriting decisions.
- Review and analyze underwriting information (claims information, MVRs, CBRs, CLUE, scoring reports, inspection reports, etc) related to each application, renewal file, or policy change.
- Evaluate and then employ appropriate underwriting discretion to accept, modify or reject changes and new business applications using specific parameters and guidelines, all within assigned authority.
- Perform renewal, mid-term or special project underwriting within department guidelines. Using all underwriting tools available, determine if policy should be continued, mid-term cancelled, non-renewed, or modified, all within assigned authority. This will include reviewing payments received on out-of-force policies to determine the desirability of the risk.
- Effectively and knowledgeably communicate decisions, request information, and discuss risks with agency personnel and insureds.
- Provide recommendations to agents and insureds regarding improvements to risks. Take appropriate action based upon insured response to recommendations.
- Understand and comply with service standards established by the department.
- Coordinate with personnel in other departments regarding payment issues, risk advices, and other issues related to policy files.
- Analyze large losses on particular files and prepare underwriting large loss reports.
- Participate in testing of products, rates and systems.
- Understand and comply with all state or other regulatory agency’s laws, guidelines, and regulations.
- Participate in agent and CSR training. Training may include the following: underwriting guidelines and judgment, product knowledge (policy language and knowledge of all Company electronic policy and quoting systems), company profit objectives, front line underwriting techniques, and other related topics.
- Participate with Marketing and Underwriting management in making recommendations on profit programs or special actions for agents.
- Occasional travel to agent’s offices and attendance at other outings to promote CIC. Participate in the planning and scheduling of the trip. Overnight travel may be required.
- Assist with Personal and Farm underwriting and training of other company personnel as requested by the supervisor.
- Serve as back-up to other team members, including underwriting support staff, when needed.
- Active participation in continuing education.
- Present a professional and helpful appearance.
- Meet expectations of attendance and punctuality.
- Other responsibilities and duties as assigned.
REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES:
- Skills described in job description.
- Efficiently handle equal amounts of property and casualty business.
- Basic knowledge of commercial lines policy forms.
- Good interpersonal and customer service skills. Ability to handle occasional walk-in customers.
- Good oral and written communication skills. Must be able to effectively communicate with agents, insureds, mortgagees, lien holders, vendors and others through frequent written and telephone communication. A majority of communication takes place over the telephone.
- Proficiency in use of computers, including skills in Word, Excel, and email system and proficient in the Company’s operating systems.
- Ability to travel, including occasional overnight stays.
- Ability to sit for extended periods of time and work at a computer terminal.
- Ability to prioritize work and meet service standards and deadlines.
- Ability to learn new tasks and perform them in an efficient manner.
- Ability to follow instructions and adhere to prescribed routines and practices.
- Ability to recognize and communicate problems in computer systems to Business Analyst or supervisor.
- Maintain work performance at satisfactory or standard level.
- An attention to detail and a desire to work with people.
- Ability to comply with department and company policies and procedures.
- Ability to work independently and to carry out assignments to completion with minimum supervision.
- Bachelor’s degree (B.S./B.A.) from a four-year college or university;
- Associate’s Degree plus 1-2 years of related work experience; or
- Equivalent combination of education and experience.
- Industry Education and Experience
- 5 Years Industry Experience;
- Associate in General Insurance (AINS);
- Associate in Personal Insurance (API) or Agribusiness & Farm Insurance Specialist (AFIS); and
- Associate in Commercial Underwriting (AU).
- Equivalent combination of industry education and experience may be substituted for the above.