Hanover Marine is seeking a Sr. Underwriter to join our growing team in our Illinois office. This is a full time, exempt role. This is a hybrid opportunity.

We encourage all Inland Marine Underwriting professionals looking to join a dynamic & collaborative team to apply. The actual job title and level may be flexible dependent on candidate qualifications and experience.

POSITION OVERVIEW: Responsible for identifying, soliciting, underwriting and selling new and renewal Specialty accounts that drive profitable growth and align with Industry Segments, appetite and mix goals. Apply advanced technical, sales and analytical skills to provide insurance solutions that help Hanover's customers manage risk. Demonstrates a thorough understanding of Hanover's strategies and appetites and will use internal and external data to make appropriate individual and portfolio risk decisions. Operates within a broad Letter of Authority for all underwriting decisions and with limited direction while managing an assigned book of business, generally with high technical complexity and coordination.

IN THIS ROLE, YOU WILL:

Technical Underwriting:

• Thorough knowledge and understanding of business strategy.
• Knows and applies advanced underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis.
• Advanced knowledge of pricing components and rating methodology and correlates pricing to exposure, financial and competitive analysis.
• Adheres to CAT guidelines and applies increased knowledge of CAT aggregation strategies to decision making.
• Can identify types of coverages including gaps in coverages typically provided within given operations, can explain coverages and correlating exposures and controls to agents to complete our value-added proposition.

Portfolio Management & Financial Acumen:

• Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, industry and LOB mix, new business and portfolio management goals.
• Demonstrates ability to properly leverage competencies, act as a resource, and build long-term, profitable and mutually beneficial relationships with agencies, internal management, and external resources.
• Constructs and executes portfolio business plans independently through organized workflow & desk management, which may include special projects.
• Reviews key metrics and uncovers trends that may lead to new business opportunities within agents while achieving profitable growth.
• Drives the implementation of profit improvement initiatives with key agents by leveraging resources
• Advocates and coordinates with Specialty departments to learn and share knowledge in cross sell opportunities to help manage portfolio/book of business

Sales Management:

• Operates with a franchise perspective to identify and drive enhanced sell opportunities and create growth within other lines of business and customer segments.
• Utilize our value proposition to enhance agency economics, partner conversion and product specialization in partnership with local management.
• Prioritizes and drives effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment in order to improve yield and retention ratios.
• Through stewardship process engage at the customer level for the most complex and prominent accounts within their territory.
• Independently implements territory business plans, monitors performance, adjusts plan to ensure a substantial pipeline for future profitable growth.
• Provide proper training and product knowledge transfer to existing and prospective agents so they can effectively sell Hanover as the go to market for their customers.
• Makes sales presentations to agents and customers on a regular basis. Participates in more complex accounts.
• Ability to uncover customer needs, position specific solutions, handle objections, and close deals.

WHAT YOU NEED TO APPLY:

• Bachelor's Degree or equivalent experience
• 5-7+ years of Inland Marine underwriting experience
• 5-7+ years experience driving agency relationships resulting in profitable new and renewal business
• Consistently demonstrates high level of proficiency across Marine Underwriting core competencies. May specialize in 1-2 specialty areas.
• Proficient in ability to identify, analyze and solve problems and manage and prioritize multiple concurrent projects. Is used as a resource by others to collaborate on more complex risks, pricing, trends, industry segments coverages and product knowledge. May conduct peer-to-peer self-audits under the direction of management.
• Demonstrates ability to adapt quickly to change, exercise influence, and act as a change advocate being open to new and different ways of thinking,
• Viewed as an informal leader amongst the team/branch/region/LOB. Open to and proactively shares knowledge and expertise with peers, management and leadership. Acts as a mentor for less experienced underwriters or newly hired underwriters, may assist with training other team members.
• Ability to travel as needed.

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
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)
• Click here for the full list of Benefits

Compensation:

The target hiring range for this role may vary based on geographic location and other factors, including merit or performance, demonstrated proficiency, skills for the role, education, travel requirements, and experience. Additional compensation may include an annual bonus (which could take the form of a general bonus, sales incentive, or short-term incentive), long-term incentive or spot recognition awards. The posted range reflects our ability to hire at different position titles and levels depending on background and experience.