Position Characteristics and Competencies
- Customer Focused
- Detailed Oriented
- Technical Knowledge and Skills
- Planning and Organizing
- Communication Skills (verbal and written)
- Analytical and Decision-making skills
- Negotiation and Interpersonal Skills
- Math Skills
Job Summary The Senior Underwriter is responsible for risk evaluation, selection, pricing, and retention of new and existing business in accordance with company underwriting philosophy and individual level of authority. This individual also develops and maintains positive and professional relationships with broker partners, third party administrators or financial institutions. Requires demonstration of a high level of proficiency and knowledge in commercial, personal, worker’s compensation and auto lines of business.
This job description does not represent an inclusive list of all duties encompassed in this position.
Job Responsibilities
- Analyze, evaluate, select, qualify and price prospective commercial and personal lines of business.
- Makes final determination on risk acceptability.
- Remains actively involved in account development and continuing service.
- Maintains relationships with brokers, third party administrators and policyholders.
- Attends meetings, seminars, and programs as necessary.
- Participates in management of the book of business.
- Provides trainings to clients on company products, processes and procedures as needed.
- Evaluates possibility of losses due to catastrophe or excessive insurance.
- Interviews prospective clients to obtain data about their financial resources and needs, the physical condition of the property to be insured, and to discuss any existing coverage.
- Examines insurance applications, conducts extra research, collects background information, and makes risk assessments.
- Negotiates with the customer regarding premium, coverage limits, coverages, and the terms and conditions of the proposed insurance policy.
- Underwrites various types of insurance policies for individuals, businesses, or equity pool members.
- Calculates premiums and establish payment method. Appropriately prices all new and renewal applications.
- Makes final determination, within company guidelines, on risk acceptability for new and renewal applications.
- Evaluates property, examining its general condition, type of construction, age, and other characteristics.
- Examines documents to determine degree of risk from such factors as applicant financial standing and value and condition of property.
- Performs administrative tasks, such as answering phones, maintaining records and handling policy renewals.
- Keeps abreast of new technologies and principles by conducting research, attending seminars, educational workshops, classes, and conferences; reviewing professional publications; establishing networks; participating in professional societies; conferring with representatives of contracting agencies and related organizations.
- Participates in cross-functional team training.
- Performs other duties as assigned.
Supervision of Others N/A
Minimum Qualifications
- High School Diploma or GED required.
- Bachelor’s degree in business administration, related field, or equivalent experience.
- A minimum of 5 years of underwriting experience in multiple lines (Property and casualty, Workers Compensation, etc.).
- Insurance Professional Designations (CIC, AU or AINS) preferred.
- Valid driver’s license.
- No felony, theft, or fraud convictions.
- Must be able to successfully pass a background investigation.
Additional Eligibility Requirements - New employees must complete the Associate in Insurance (AINS) designation within six months from the end of the 90-day evaluation period to be eligible for advancement and incentive compensation.
- For continued employment, employees must complete an elective course and six hours of professional development within 12 months after the end of the 90-day evaluation period.
Knowledge/Skills/Abilities - Strong written and oral communication skills.
- Advanced presentation skills.
- Advanced knowledge of property, auto, liability and workers compensation underwriting practices and underwriting techniques.
- Knowledge of property, auto, and liability insurance laws, policies, and regulations.
- Knowledge of applicable federal, state, tribal, and local laws, regulations, and requirements.
- Knowledge of commercial/residential construction codes and techniques.
- Knowledge or experience in public sector or pool underwriting preferred.
- Ability to effectively present information in one-on-one and small group situations to customers, clients, and other employees of the organization.
- Ability to work independently and meet timelines.
- Ability to create and edit written materials.
- Ability to collect and analyze data and prepare and present accurate reports and recommendations.
- Skill in providing excellent customer service.
- Ability to work as a team member in a structured working environment.
- Skill in operating business computers and office machines, including in a Windows environment, specifically Word, Excel, and presentation software (such as PowerPoint).
Working Conditions & Physical Demands - Travel required 25% of time; COVID-19 vaccination required.
- Typical business office setting with moderate noise level and outdoor settings with a high noise level.
- Non-office environment may be encountered for offsite presentations and support of company activities.
- Exposure to natural weather conditions and temperatures, various dusts, smoke and mists, and normal debris and hazards may occur while performing outdoor duties.
- Must be able to sit for work at a computer for more than 6 hours per day.
- Must be able to stand and walk for more than 4 hours per day when on client site.
- Must be able to use hands for dexterity of motion and reach with hands and arms. Extensive use of computer keyboards.
- Frequently required to talk and hear.
- Must have ability to occasionally lift 10+ lbs.
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