Underwriter - Commercial Lines
Position Summary: Perform policy underwriting functions as relates to commercial lines of insurance (with an emphasis on property): accepts or declines risks; determines appropriate terms and limits; prices and prepares policies for issuance; performs agent liaison/account servicing functions.
- Evaluates applications for new business and prepares quotations:
- Examines applications, supplemental questionnaires, loss experience and additional resources such as appraisals, online tools, and other third-party reports;
- Seeks additional information needed to determine eligibility under company guidelines and notifies agent to explain the reason for decision (decline/quote);
- Assigns and negotiates reinsurance as necessary;
- Completes worksheets to document analysis and thought process;
- Prepares policy for issuance ensuring appropriate rates, forms, and accuracy;
- Requests loss control inspection; Reviews results and determines necessary actions;
- Reviews renewal policies; evaluates of loss experience to detect frequency/severity.
- Prepares renewal offer and negotiates pricing and terms if needed due to competition, requests necessary documents for policy issuance.
- Determines if facultative reinsurance is needed and authorizes on individual policies.
- Processes endorsements, reviews for rate accuracy and eligibility of coverage/items to be added/amended.
- Processes cancellations requested by insured, issues non-renewal notices and direct notices of cancellation when deemed necessary; ensures that legal notice requirements are met and documentation is fully completed.
- Provides overall account service to agents including but not limited to billing and general queries.
- Attends agent conventions; performs routine agency visits; builds and maintains assigned agency relationships.
- Keeps informed about company policies and procedures and department information.
- Attends regular department meetings and scheduled all-staff meetings.
- Performs other job-related duties as required.
Employees are expected to demonstrate the following qualities at all times:
- Job Knowledge - Maintains and enhances business knowledge necessary to excel in the position. Understands underwriting, risk analysis, agent relations, reinsurance, major competitors, trends, and regulations.
- Collaborates - Builds partnerships with sales in particular and works collaboratively with others across the organization to meet objectives. Develops and delivers communications that are clear and understood. Communications match the needs of different audiences.
- Time Management/Flexibility – Responds in a timely manner and completes tasks efficiently and effectively. Operates effectively even when things are uncertain, or unclear. Is flexible and open to change.
- Attention to Detail - Performs tasks with a high degree of accuracy and precision.
- Customer Focus - Sets and maintains high standards for service to internal (sales managers) and external customers. Incorporates needs and concerns of diverse constituencies (e.g., agents, underwriters, claims, and commercial customers) into decision making.
Education and Experience:
- Bachelor’s degree plus three or more years of commercial lines insurance experience.
- AINS designation required, AU preferred.
- Proficient in Excel and Microsoft Word.
- Strong mathematical aptitude.