Job Description Summary
Are you a critical thinker who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both your analytical and creative abilities to make sound decisions and have a desire to help people solve real challenges, we want to know more about you!
As the highest, non-management level underwriter, responsible for assessing a company's risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by independently analyzing a company's financial documents and other information. Including, but not limited to the company's viability, issues, governance, regulatory environment and experience. Achieves team production and loss ratio goals within assigned territory by reviewing and analyzing claims, loss history and taking appropriate action on individual accounts. The underwriter works independently developing recommendations and applying judgment based on the financial analysis. Establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably. Territory assignments are highly complex in nature concerning coverage and agent/broker/ relationships. Responsible for the training and mentoring of underwriting team members. Involved with the management and marketing of that territory.
Job Description
Key Responsibilities:
Within established guidelines, analyze and review application, financial documents, company management, company prospects, industry prospects, legal structure and outstanding litigation.
Determines proper insurance program including layer attachment, terms, conditions, pricing and alternatively decline or non-renewal of coverage.
Servicing of existing and/or new accounts, including quote letter, binders, policy & endorsement issuance.
Handles complex policy maintenance items and other mid-term requests. Reviews endorsement requests and processes necessary changes to the policy. Follows up on outstanding information as required. Reviews claim activity and takes appropriate action.
Achieves production and loss ratio goals by analyzing premium and loss results for assigned territory by line of business through sound marketing. Promotes company products and programs.
Monitors industry trends to stay well-informed of new products, distribution systems, trends, competitor offerings, emerging business and legal trends impacting management liability exposure.
With supervision, establishes and maintains effective relationships with brokers in order to generate profitable premium dollars. Accompanies other underwriters to broker offices as required for marketing visits. Frequently entertains brokers to market services and ensure strong relationship to write business.
Communicates with key underwriting personnel on all operational levels, and works closely with lower level associates to ensure compliance with underwriting guidelines and marketing plans.
May perform other responsibilities as assigned.
Reporting Relationships: Reports to Manager. Serves as individual contributor, no direct or indirect reports.
Typical Skills and Experiences:Education: Undergraduate studies with focus in finance, accounting, economics, and/or risk management. Degree preferred.
Experience: Five or more years related experience as a D&O, EPL and/or E&O Underwriter preferred. Previous business or finance experience helpful.
Knowledge, Abilities and Skills: In-depth knowledge of lines underwriting policies, practices and procedures specific to D&O, EPL, Fiduciary, E+O, and Crime insurance products. In-depth knowledge of financial documents, financial analysis, investments, market conditions essential. Legal knowledge related to insurance, contract and business law preferred. Ability to communicate complex underwriting concepts required. Ability to multi-task, communicate effectively, verbally, and in writing, interpersonally with individuals at various levels and groups via telephone, fax, e-mail and in person. Demonstrates advanced negotiation skills. Ability to analyze insurance risks to determine acceptability including policy language, various commercial rating plans and methodologies, reinsurance. Knowledge of related computer software. Ability to devise business solutions to problems, implements the most appropriate, and monitor its effectiveness. Ability to make decisions without supervision.
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.
Values: Regularly and consistently demonstrates the Nationwide Values.
Job Conditions:Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Normal office environment. Ability to travel locally and overnight for client meetings as needed.
Benefits
We have an array of benefits to fit your needs, including: medical/dental/vision,life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer,click here.
