Bachelor's degree in insurance, finance, risk management, environmental management, or a related field.
5+ years of relevant underwriting experience.
Ability to analyze and report findings on complex submissions and risks.
Proficient in using software for data analysis and summarization.
Strong communication skills for internal and external interactions.
Responsibilities
Analyze and evaluate new or renewal submissions with complex risk exposure.
Build and nurture relationships with agents, reinsurers, and external contacts.
Review and assess complex submissions, including losses and pricing models.
Select appropriate risks from complex sources of profit.
Assist with special projects or additional tasks as required.
Benefits
Employee Stock Ownership Plan (ESOP) as a core component of compensation.
Generous annual bonus plans.
401(k) plan with automatic contributions and profit-sharing options.
Flexible work arrangements, including hybrid options.
Comprehensive medical, dental, and vision plans.
Full Job Description
Position Purpose
Under general oversight, performs similar to Underwriter I and II but builds upon existing expectations; builds even stronger relationships with producers, reinsurers, and contacts; and rather than assist, has more ownership and responsibility to review complex sources of profit by selecting appropriate risks. Also responsible for increasing submission flows.
Principal Duties & Responsibilities
Analyze, evaluate, accept, decline, rate, quote, and bind new or renewal submissions with high premium or risk exposure.
Build strong relationships between agents, reinsurers, and contacts.
Review complex submissions, account losses, pricing models, and profitable premiums.
Review complex sources of profit by selecting appropriate risks.
Assist with special projects or other duties as needed.
Education & Experience
Typically requires a bachelor's degree in insurance, finance, risk management, environmental management, environmental studies or business or a related field
Minimum of 5+ years of related experience for consideration
[OR] equivalent level of education and experience
Knowledge, Skills, & Competencies
Ability to use analytical methods in underwriting processes to find workable solutions.
Ability to verbally and in writing, communicate findings and recommendations to internal and external contacts on underwriting matters.
Ability to use software to summarize and analyze large amounts of data.
Understands, applies, & properly documents nature of operations of the risk for accounts assigned & communicates findings and consitently maintains underwriting files.
Ability to prepare, review, and complete underwriting analysis of accounts.
Analytical skills and understanding of submission requirements, model entry, and product appetite.
Participates in underwriting related continuing education.
Ability to generate innovative solutions within the underwriting department.
Has typically obtained letter of authority.
Has a good understanding of the markets and clients being serviced.
Has some authority to process approval, issuance, or change requests for policies.
Works on slightly more complex risks than UW I and has obtained higher level of authority.
Presents solutions to management on non-standard issues without prior oversight or guidance from manager.
Ability to know proper sign off & correct UW judgement in most cases.
Possess a thorough understanding of the internal processes of the product and displayed understanding of loss rating/credibility.
Working toward building and maintaining a profitable book of business.
Compensation Overview The base salary range for the position is listed below. Please note that the base salary is only one component of our robust total rewards package at RLI. The salary offered will take into account a number of factors including, but not limited to, geographic location, experience, scope & responsibilities of the role, qualifications/credentials, talent availability & specialization, as well as business needs. The below range may be modified in the future.
Base Pay Range $88,029.00 - $125,882.00
Total Rewards At RLI, we're all owners. We hire the best and the brightest employees and allow them to share in the company's success through our Total Rewards. With the Employee Stock Ownership plan at its core, the Total Rewards program includes all compensation, benefits and perks that come with being an RLI employee.
Financial Incentives
Annual bonus plans
Employee stock ownership plan (ESOP)
401(k) - automatic 3% company contribution
Annual 401k and ESOP profit-sharing contributions (Up to 15% of eligible earnings)
Work & Life
Paid time off (PTO) and holidays
Paid volunteer time off (VTO) to support our communities
Parental and family care leave
Flexible & hybrid work arrangements
Fitness center discounts and free virtual fitness platform
Employee assistance program
Health & Wellness
Comprehensive medical, dental and vision benefits
Flexible spending and health savings accounts
2x base salary for group life and AD&D insurance
Voluntary life, critical illness, & accident insurance for purchase
Short-term and long-term disability benefits
Personal & Professional Growth RLI encourages its employees to pursue professional development work in insurance and job-related areas. We make a commitment to employees to provide educational opportunities that help them enhance their skills and further their career advancement. RLI fosters a true learning culture and encourages professional growth through insurance courses, in-house training and other educational programs. RLI covers the cost for most programs and employees typically earn a bonus upon successful completion of approved courses and certifications. Our personal and professional growth benefits include:
Training & certification opportunities
Tuition reimbursement
Education bonuses
About RLI Corp
RLI Corp is an American property and casualty insurance company headquartered in Peoria, Illinois. The company, through its subsidiaries, provides various insurance products, including casualty insurance, property insurance, and surety bonds. RLI Corp operates in all 50 states and internationally. The company was founded in 1965 and has since grown to become a Fortune 1000 company. RLI Corp is known for its strong financial performance and has consistently been rated A+ by A.M. Best.
