Mitsui Sumitomo Insurance Group (MSIG) is one of the world’s top ten property/casualty insurance carriers with over 38,000 employees worldwide. MSIG insures large multinational and domestic companies, and offers comprehensive global insurance programs. Our US subsidiary, Mitsui Sumitomo Marine Management (MSMM), currently has an opportunity available for a Sr. Production Underwriter in our Warren, NJ office.
PURPOSE SUMMARY: Produce and underwrite profitable Commercial Lines business, consisting of: package, automobile, workers compensation and umbrella within the Eastern Zone. Responsible to meet domestic profitability and production targets while building strong agency relationships acting as an agency manager for assigned agents. Work closely with Risk Control and Claims counterparts to develop and implement account management strategies to impact account retention and profitability as well as increasing visibility with agents and customers.
Essential Duties and Responsibilities include the following:
- Underwrites moderate to highly complex accounts and risks. Ability to consider unique approaches toward risk transfer to maximize.
- Has the ability to thoroughly analyze available information to determine terms and conditions of coverage on new and renewal business.
- Ensures that agency visitation plans are completed to maximize new business opportunities. Complete trip reports of each visit to highlight key issues and follow up activities.
- Proficient in various alternative risk transfer programs including large deductible, self-insured retentions and retrospective rating plans.
- Ability to understand financial statements and ratios used in risk analysis
- Expert knowledge of insurance finance and actuarial concepts.
- Applies appropriate pricing techniques according to company filings and state/bureau regulatory guidelines.
- Determines if reinsurance is needed and procures quotes from various internal and external markets.
- Exceptional analytical and critical thinking skills, with thorough attention to detail.
- Excellent organizational, documentation and problem solving skills.
- Creates, drives and executes on strategies for new and renewal accounts.
- Utilize consultative selling approach to generate new business consistent with our underwriting strategy.
- Identify and develop strong relationships with assigned agents to obtain positive submissions flow, gain market intelligence and obtain new business and profitability goals.
- Possess strong communication skills as well as excellent interpersonal marketing and negotiation expertise.
- Works with Underwriting Manager to develop and implement an agency appointment strategy for assigned territory.
This job has no supervisory responsibilities.
Education and/or Experience
Bachelor's degree (B. A.) from four-year college or university preferred; High school degree or G.E.D. required plus 8+ years underwriting multi-line middle market commercial business ($100,000 - $1M) including a minimum of 3 years production underwriting experience. Experience with advanced underwriting concepts such as large deductible programs, retros, etc. is helpful. Must also have demonstrated negotiation and production skills.
Ability to travel (same day and overnight) using all forms of transportation.
Warren, New Jersey
Competitive salary offered plus benefits! (i.e. Medical, Dental, Vision, 401K)