Specialty Property - Underwriting Specialist (Hybrid or Remote)

Company: Intact Insurance
Location: Chicago
Posted on: May 28, 2023

Job Description:

Job Description
We currently have an opportunity for a Underwriting Specialist to join our Specialty Property Team in our Chicago, IL office or remotely nationwide. This position underwrites and manages a book of business of highly complex, specialty accounts within broad authority levels. Assists with the development and execution of strategic initiatives that contribute to the growth and profitability for that book of business in assigned territory. Focus is typically on new business production and large account management. Provides technical underwriting support and service to assigned producers and insureds regarding selection and rejection of new and renewal business. Develops superior working relationships with producers to successfully promote achievement of mutual growth and profitability goals.
Responsibilities:

• Maximizes opportunities for underwriting profitable new and renewal business, as appropriate based on market conditions, by leveraging business relationships, product knowledge and underwriting acumen. Develops and maintains an active target account list tracking prospects and account rounding and/or missed opportunities. Manages financial performance of assigned territory including: accident year loss ratio, premium plans (new business, retention, and rate/exposure increases), and commission targets.
• Underwrites a book of business. Manages underwriting quality and book management. Reviews eligibility, class fit, price, deductibles, ITV and losses to determine exposures. Executes underwriting strategy as determined by management, including portfolio management, self-audits of new and renewal business and well documented approvals of underwriting edits. Ensures compliance with standards and assigned underwriting authorities.
• Demonstrates a strong understanding of exposures and key coverage issues. Makes underwriting decisions to accept, decline, or modify risks within broad underwriting authority. Implements underwriting decisions in compliance with state laws.
• Develops superior working relationships with producers to successfully promote achievement of mutual growth and profitability goals and to supply the appropriate products and services. From a sales perspective, has the ability to identify gaps in coverage and/or services, understands where the company can make a difference based on those gaps and uses that information to help retain or obtain a customer. Works closely with and establishes strong business partnerships with other departments, including claims, actuary and risk control staff in an effort to better service producers and accounts.
• Regularly travels to key producers/accounts and remains highly visible in the marketplace. Anticipates the needs of the agency plant, analyzes trends, and implements proactive strategies that best position the business. Understands and communicates the company's underwriting appetite. Monitors agency action plans and participates in account management, agency planning and marketing meetings to best position the business for the future. Participates in industry events and/or committees.
• Gathers and analyzes competitor information and producer specific reports on assigned producers' new business flow, retention, profitability and potential, to support territorial rate reviews. Works with other underwriting staff to determine and make recommendations for marketing, pricing, products and systems.
• Provides training and mentoring to less experienced underwriters.
• Maintains a strong professional knowledge of competitive, regulatory and legal environments and applies this information effectively. Requirements:
  • Expert knowledge of technical underwriting, pricing, and coverage issues. Must be a proven self-starter with strong multi-tasking and relationship management skills. Must have superior negotiation, marketing and sales skills.
  • Must have strong analytical, decision making, problem-solving, communication, presentation, listening, and organizational skills. Must be able to work both independently and as a highly collaborative member of a team. Must be proficient with Microsoft Office suite and electronic underwriting systems.
  • Must maintain strong professional knowledge of legislative issues, industry trends and marketplace issues within the territory. Must be able to work in a fast pace and rapidly changing environment. Education and Experience:
    • Bachelor's degree or equivalent experience
    • Minimum of 5-7 years of progressively more complex, specialty lines underwriting experience.
    • Professional insurance designation is preferred (AICPCU, RPLU).
      About Us
      At Intact Insurance Specialty Solutions we are experts at what we do. Our deep understanding of the specialty insurance market is the foundation for our customized solutions, backed by targeted risk control and claims services. Our employees are passionate about providing insurance coverage that's aligned to our targeted customer groups. Today, we help protect over a dozen industries with tailored coverages and services.
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Keywords: Intact Insurance, Chicago , Specialty Property - Underwriting Specialist (Hybrid or Remote), Other , Chicago, Illinois