IAT has an immediate opening for an experienced Sr. underwriter at our Overland Park, Kansas location. This role will be within the DealerPack/Programs Business Unit. This business unit is primarily responsible for the dealership business including but not limited to, Auto Dealership, Truck, Motorcycle, Equipment and RV dealerships.
- Review and analyze underwriting files, using judgment and experience as primary criteria, to accept new business or continue renewals within established authority level.
- Review and analyze all documents within or associated with the underwriting file to establish accuracy in identification and minimizing risk of exposure, utilizing change requests, claim information, loss control and outside databases to identify changes in exposure to risk. Relate variances from acceptable standards to agents, claim department and the underwriting file. Monitor progress of compliance with recommended loss mitigation.
- Review, evaluate and determine account premium levels using sound judgment consistent with established company premium modification plans within authority limits.
- Read, evaluate and interpret contracts and policies to determine exposures providing guidance and clarification to others consistent with experience.
- Provide clarification and verification of coverage to the Claims Department consistent with experience.
- Assess agency activity; provide clarification to agency personnel about company’s position in annual visits to assigned agencies consistent with experience.
- May develop and execute ongoing guidelines and procedures for internal underwriting audits to determine compliance with company policies, reinsurer guidelines, and state regulations.
- May develop and execute detailed procedures to ensure that all ratable exposure bases of insureds are accurately reported and that appropriate premiums are calculated and collected.
- May coordinate and prepare requested material in advance of audits by third parties (reinsurers and regulators).
- May functions as the liaison between Underwriting and other departments. Participates on committees and is responsible for underwriting changes.
- May update and maintain underwriting guidelines to reflect all current (and best practice) underwriting standards and approaches and communicate to all applicable parties.
- May provide underwriting training.
- Perform other tasks as needed.
- Bachelors’ degree in Risk Management, Finance, Mathematics, Business or related with at least 5 years-experience in commercial Insurance (Masters’ degree in Risk Management, Finance, Mathematics, Business preferred)
- Advanced knowledge of Insurance Industry (transportation insurance preferred)
- Must possess the ability to appropriately apply loss development and advanced loss analysis concepts to achieve optimal pricing of a risk.
- Must possess the ability to creatively utilize coverage features, deductibles, or reinsurance on individual risks to achieve company objectives.
- CPCU, ARM, or AU industry designations preferred.
- Advanced knowledge of underwriting decisions for risks in a range of complex or unfamiliar situations.
- Requires strong math aptitude, excellent verbal and written communication, interpersonal and negotiating skills.
- Solid knowledge of underwriting guidelines and procedures. Strong written and verbal communication skills. Ability to influence team members including management. Understanding of insurance operations. Ability to evaluate and recommend operational improvements.
- Must possess knowledge of various computer programs, internet based programs, and PC literate in the use of spreadsheets.
- To qualify, applicants must be authorized to work in the United States and must not require VISA sponsorship, now or in the future, for employment purposes.