Chief Underwriting Officer
Summary: Responsible for the strategic planning and overall management of the underwriting discipline to ensure profitable growth. In collaboration with the President and other departments, this role will be responsible for developing and executing the company’s underwriting strategy, with the goal of successful growth and servicing of the company’s policyholders by performing the following duties.
Duties and Responsibilities include the following. Other duties may be assigned.
- Oversee the development and management of all aspects of underwriting strategy, aligning with the overall company strategic plan, and translating the strategy into clear underwriting guidelines and limits of authority.
- Establish underwriting authority levels and referral processes that both streamline decision-making and ensure underwriting excellence.
- Develop pricing and underwriting strategies to attain and improve profitable growth.
- Develop an efficient set of processes that deliver creative, customized underwriting and risk management solutions while meeting the expectations of agents, brokers and reinsurance providers.
- Set strategic process for identifying, evaluating and managing emerging risks in order to minimize negative impacts to the portfolio.
- Develop and manage both internal and external relationships in a way that strengthens trust in the business partnership.
- Manage the portfolio to reflect an appropriate balance between segments and diversification of line of business.
- Devise strategies and protocols to grow profitably during all market cycles and proactively identify opportunities for the company.
- Establish policies and direct the analysis of information to support the development of products, services, and/or new programs (i.e., research and identify target businesses, competitor information, analyze industry and economic factors, etc.)
- Lead, direct, and has management accountability for corporate underwriting team with emphasis on building organizational capability, talent management, and promoting a culture of superior portfolio management and product underwriting.
- Assist in the maintenance of forms and rate filings for specific segments of business.
- Lead for internal underwriting audit.
- Responsible for underwriting document filings, accuracy of data entries to systems and contract integrity for accounts underwritten.
- Meet as needed with the Senior Leadership Team and President to analyze, recommend, and report on the progress of objectives.
- Provide the leadership mentoring and guidance necessary to build and sustain a high performing workforce.
- Anticipate and plan for the future, with the capacity to collaborate with other senior management team members in a way that fosters innovation.
- Bachelor's degree (B.A./B.S.) from four-year college or university
- Minimum of 12-15 years personal and commercial underwriting experience with a multi-state Property & Casualty Insurance Company.
- Minimum 10 years Personal lines and residential property experience in the southeast required.
- Master’s degree or CPCU preferred.
- Licensed 2-20 agent a plus.
- Strong knowledge of product, pricing, and risk management including deep knowledge of catastrophe modeling.
- Strong knowledge of policy administration systems, system implementations, and servicing of customers through call centers.
- Exceptional Claims settlement knowledge, processes and procedures, including liability, large losses, catastrophic events and application of reinsurance.
- Demonstrated ability to provide strategic and tactical leadership to a team of talented professionals.
- Demonstrated organizational skills, working with integrity and great strategic foresight - challenging norms while working collaboratively with colleagues at all levels of the organization.
- Strong interpersonal relationship and communication skills, as well as a desire to collaborate, build rapport, add value and effectively problem-solve with their direct support teams and the teams of the company.
- Exhibits a track record for finding innovative ways to bring teams together to problem-solve for greatest efficiency and effectiveness. Supportive and dedicated to solving the strategic and tactical execution needs of each respective company.
- Agile and decisive; can work with an ambiguous, fast-moving environment while also leading to clarity and solutions; adapts quickly and effectively to change.
- Well-versed in presentations, accustomed to addressing agents, vendors, and partners. Ability to influence and persuade through advanced written and verbal communication skills.
- Strong knowledge of the Microsoft Office suite of programs and proficiency with policy management systems.
- Ability to travel up to 20% of time if necessary
Manages the Underwriting Departments of a Property and Casualty insurance company, including but not limited to, customer service, underwriting and data entry. Is responsible for the overall direction, coordination, and evaluation of these units. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, regulatory or governmental regulations. Ability to write reports, business correspondence, review contracts and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
- This position is based at the Company’s Sarasota, Florida office.
The physical demands are classified as Light:
- Exerting up to 20 pounds of force occasionally and/or a negligible amount of force constantly to move objects.
- While performing the duties of this job, the employee is regularly required to sit; use hands; and talk or hear.
- The employee is required to stand; walk safely over uneven terrain or in confined spaced; and reach with hands and arms.
- Must have sufficient vision and hearing to safely operate a motor vehicle.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.