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 an Underwriting Specialist (Inland Marine), located in our Los Angeles office.
Summary: The underwriting specialist is responsible to produce, underwrite and service profitable Inland Marine business in accordance with all department guidelines. Assumes a leadership role in the organization to positively influence staff and promote a positive image of MSIG in the marketplace. Develops and maintains producer relationships and builds a profitable book of business.
Produces, underwrites and service complex Inland Marine risks within delegated underwriting authority, including construction, transportation and other classes of commercial Inland Marine business as authorized.
Profitability & Underwriting Quality: (50%)
• Apply appropriate account selection, coverage, risk management, aggregate management, reinsurance and pricing techniques according to department guidelines to achieve target profitability for all new, renewal and endorsement activity within the assigned book of business.
• Maintain underwriting files and systems in accordance with department guidelines.
• Ensure aggregate management and risk management activities are appropriate to the risk, in line with department guidelines, and that systems reflect current and accurate data for assigned accounts per department guidelines.
• Monitor underwriting results, loss trends and market developments with for assigned business and producers within assigned territory.
• Implement best practices in account management throughout the underwriting cycle, including coordination with other internal business units as appropriate.
Volume & Marketing: (40%)
• Maintain existing accounts and develop new sources of business in line with department risk appetite and guidelines to achieve targeted volume.
• Establish and maintain effective producer and client relationships within assigned territory.
• Coordinate activities with other internal business units as appropriate.
• Provide timely and best in class professional service to our customers.
• Promote a positive impression of MSIG to producers, insureds and within the marketplace in general.
Training & Development: (10%)
• Enhance technical expertise through continuing education opportunities as appropriate and available.
• Assist in training, mentoring and development of other department staff.
This position has no supervisory responsibilities.
Education and Experience Required:
• High School degree is required. Bachelor’s degree or equivalent business experience preferable. CPCU/ insurance designations encouraged.
• 5+ years of relevant underwriting experience with demonstrated productivity, profitability and business acumen.
• Strong knowledge and technical expertise of relevant risks including exposures, forms, coverages, pricing methods, aggregate management, reinsurance and account management.
• Demonstrated market presence with the ability to form lasting producer relationships and in depth knowledge of production sources and market capabilities within the assigned territory and product lines.
• Strong portfolio management, organization, negotiation and time management skills with an understanding of the company’s business objectives.
• Demonstrated ability to work effectively within teams across multiple disciplines and support activities.
Other Qualifications Required:
• Excellent verbal and written communication skills
• Effective computer and software skills, including Microsoft products Word, Excel and Outlook.
• Ability to travel as required within the assigned territory (up to 20%).
Competencies: To perform the job successfully, an individual should demonstrate the following:
Core Competencies: Communication, Customer Focus & Teamwork
Job Specific Competencies: Technical Expertise, Oral and Written Communication Skills, Problem Solving, Negotiation Skills
Los Angeles, California
Competitive salary, benefits, and 401K!