Monday, September 30, 2024
For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, ESG initiatives and IDE journey.
Hanover Marine is seeking an Specialty Underwriter to join our growing team in our San Antonio, Dallas, or Houston, TX location. This is a full time, exempt role. This is a hybrid opportunity.
We encourage all Inland Marine Underwriting professionals looking to join adynamic & collaborative teamto apply.
The actual job title and level may be flexible dependent on candidate qualifications and experience.
POSITION OVERVIEW:
This role is the first formal underwriting level within Specialty lines underwriting. With significant oversight and guidance, and within limited underwriting authority, responsible for applying underwriting concepts to evaluate and bind new and renewal accounts. With support from local team, partners with agencies to produce profitable business focusing on quality production, balancing rate and retention dynamics, and achieving service and quality standards. Demonstrates an emerging understanding of Hanover’s strategies and appetites. Manages assigned book of business, generally with low to moderate technical complexity and coordination.
IN THIS ROLE, YOU WILL:
- Identify sources of information and resources to understand and stay informed on trends and practices within and outside of the industry.
- Develop understanding and apply sensible judgment on when to garner additional expertise or support in decision making.
- Demonstrate ability to make sound underwriting decisions based on available information, utilization of resources, and review with others.
- Understand and can articulate business line and Specialty business strategy.
- Develop and strengthen agency relationships and core sales capabilities through application of learned sales techniques while developing an understanding of proper portfolio management.
Technical Underwriting:
- Build familiarity and expertise in all UW systems needed to inform UW practices.
- Know and apply underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis.
- Demonstrate understanding of exposures and risk and begins to correlate to our appetite to make sound UW decisions.
- Develop an understanding of what measures of profitability are used within own business area.
- Adhere to CAT guidelines and underwriting discipline to minimize exposure and appropriately price individual risks.
- Develop an understanding of the market factors that can affect pricing and can explain why these impact the pricing decision and how it correlates to exposure.
- Develop a solid understanding of business appetite and pipeline practices to ensure a steady stream of targeted business opportunities.
- Manage assigned portfolio to achieve gross written premium, profitability, rate, retention, product mix, new business and portfolio management goals (added from specialist segment)
- Developing financial acumen to understand various profit levers (e.g. loss ratio by LOB, combined ratio,etc.).
- Begin to develop ability to analyze underwriting and financial data and impact to management of risk.
- Develop an understanding of the market factors that can affect pricing and can explain why these impact the pricing decision and how it correlates to exposure.
- Familiarize oneself with other Hanover departments for leveraging growth in areas of business where portfolio could be more balanced
- Develop a solid understanding of MM appetite and pipeline best practices to ensure a steady stream of targeted business opportunities.
- In partnership with local team, begin to develop agency relationships within assigned book.
- Demonstrate an understanding of the issues and concerns which affect both internal and external customers and stakeholders and applies that knowledge to develop and maintain positive relationships.
- Develop negotiation and professional influencing capabilities. Begin to proactively anticipate objections (internal or external) and develop effective responses.
- Travel with local team to meet with agents on UW matters which include but are not limited to: marketing THG capabilities, evaluating pricing, and discussions regarding new and renewal business.
- Participate in and eventually lead sales presentations with external agency partners.
WHAT YOU NEED TO APPLY:
- Bachelor’s Degree or equivalent work experience, insurance background preferred.
- Generally 1-3 years of underwriting experience.
- Communication - anticipates audience needs when communicating, actively seeks to understand when there is lack of clarity, able to clearly articulate and express points of view and perspectives both verbally and in writing.
- Judgement and Decision Making – able to apply logic to decisions identifying and evaluating risks and implications. Uses current data and information to inform recommended decisions and actions.
- Agile and Adaptive – ability to work in a fast paced, highly dynamic environment. Able to shift focus and manage new and changing situations.
- Teamwork and Collaboration – seeks opportunities to share information and offer ideas that will allow others to benefit or succeed. Shows respect for differences and diversity in ideas and views.
- Prioritization and Desk Management – takes personal ownership for the management workload and output.
- Applies understanding of business workflows and processes to determine focus and urgency needed.
- Understands and applies best practices and performance standards to work product.
CAREER DEVELOPMENT:
It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.
BENEFITS:
We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.
Benefits include:
- Medical, dental, vision, life, and disability insurance
- 401K with a company match
- PTO
- Cultural Awareness Day in support of IDE
- On-site medical/wellness center (Worcester only)
The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.
Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.”
As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: HRServices@hanover.com and include the link of the job posting in which you are interested.
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