The Assistant Vice President within Arch Construction is responsible for the technical underwriting and account management of large account construction casualty programs.
- Technical Underwriting
- Solicits and reviews new and renewal account information required to evaluate a risk.
- Identifies all potential exposures and hazards in relation to coverage requested and individual risk characteristics.
- Assesses insurance and related financial risk and structures appropriate loss sensitive program to effectively protect against frequency, severity, catastrophic and credit risk.
- Engage other internal resources as necessary.
- Underwrites prices and prepares proposals based on objective and subject risk characteristics, input of internal resource team, existing product set and regulatory filings.
- Prepares final quotation/proposal and presents to producer and/or prospective insured.
- Coordinates all administrative duties related to existing and prospective accounts.
- Account Management
- Quarterbacks all post bind activities including policy production, compliance issues, audits and adjustments, legal agreements, receipt of collateral, legal agreement execution, TPA coordination and any other related items.
- Together with internal team members, takes responsibility to deliver promised service to customers.
- Responsible for the renewal and retention management and manages the renewal process to achieve targeted retention and price change goals.
- Initiates, coordinates and conducts a mid term account review.
- Sales and Marketing
- Develops and maintains relationships with producers and insured’s to achieve overall productions and profitability goals.
- Meets with producers and insured’s to discuss individual account issues, uncover critical customer needs and financial buying characteristics.
- Develops a strategic plan for positioning and selling Arch at both the producer and the insured level.
- Engages and introduces other team members or management team as appropriate.
- Develops and maintains relationships with producers to generate a flow of qualified submissions.
- Responsible for all underwriting and policy file documentation.
- Completes ad hoc projects as assigned by management personnel.
Skills & Knowledge:
- Understanding and knowledge of the intent, scope and purpose of the Workers Compensation, General Liability, Automobile coverage forms and endorsements with the ability to tailor to the sold program design.
- Possess a thorough understanding of all loss sensitive programs including products, pricing, expensing, actuarial loss projecting techniques, retention and aggregate setting, limit profiles, ALAE, and effective utilization of facultative reinsurance.
- Understanding and knowledge of exposure identification and analysis.
- Posses a cross functional generalist knowledge of other disciplines including claims, risk control, audit, premium accounting, finance and legal.
- Knowledge of regulatory and compliance issues.
- Knowledge of Arch’s product set.
- Excellent communication skills – written, verbal and presentation.
- Sales and Negotiation skills.
- Be able to provide leadership and support to other team members.
- Ability to perform multiple tasks simultaneously.
- Have the ability to influence without authority and be willing to work in a collaborative and team environment.
- Highly proficient in Microsoft Excel, Work, Outlook, and PowerPoint.
- Five (5) plus years of underwriting experience and/or 10 plus years experience in the construction industry and/or insurance industry.
- Established broker relationships within the Central Region would be ideal.
- Bachelor’s degree or equivalent training required.
- CPCU or other similar designation a plus.