United Fire Group

Surety Underwriter

United Fire Group • $80K — $95K *
Chicago, IL 60629In-Person
Finance & Insurance
Less than 5 years of experience
Today
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Job Overview by Ladders

Qualifications

  • 3+ years of contract surety underwriting experience
  • Bachelor's degree in business administration, economics, finance, or related field preferred
  • Certification or progress towards AFSB designation
  • Valid driver's license with an acceptable driving record
  • Engagement in ongoing professional development and education

Responsibilities

  • Underwrite new and existing surety submissions following UFG guidelines
  • Develop and maintain relationships with agents and brokers
  • Manage a portfolio of contract surety business within a designated territory
  • Ensure accurate electronic documentation and data management
  • Maintain confidentiality of sensitive information
  • Deliver excellent customer service to all stakeholders
  • Conduct thorough annual reviews of accounts with financial assessments

Benefits

  • Opportunities for continuous education and professional certifications
  • Supportive team environment with mentorship from experienced underwriters
  • Travel opportunities to visit agents and accounts throughout the region
  • Access to territory management tools for effective marketing and production planning
  • Participation in shaping a profitable mix of surety business applicable to the local market
Full Job Description
UFG is hiring for a Surety Underwriter who will actively working towards building and maintaining a profitable mix of new and existing surety business by developing and maintaining strong working relationships with the agency force. Demonstrate strong analytical skills to evaluate risks for acceptability within their authority and company underwriting parameters. Make regular agency visits and calls to assess growth and profitability of agents in their territory. Prospect and appoint new quality agents in the territory. Visit current and potential contractor's place of business to better assess acceptability and quality of the accounts.

**The ideal candidate will reside in Chicago, Illinois/Greater Chicago area or the Milwaukee, Wisconsin territory**

Essential Duties and Responsibilities:
  • Underwrite new submissions and existing accounts utilizing authority granted by head of Surety and with assistance from mentors. Evaluate and assess financial status, credit standing, and organization profile to analyze and determine acceptability of the risk within framework of UFG underwriting policies and procedures.
  • Develop and maintain strong relationships with agents/brokers.
  • Oversee a book of contract surety business within defined territory. Meet production, marketing, and profitability goals and develop marketing plan using the territory management tool.
  • Upload and update file information electronically and purge obsolete data per department guidelines.
  • Handles all confidential information with discretion.
  • Provide high quality customer service in all interactions with internal and external customers.
  • Request underwriting information from agencies. Review and process information received.
  • Perform annual review of accounts including financial analysis, obtaining current bank line of credit letters, preparing profiles, and recommendation of line of authority.
  • Instruct, assign and review work completed by support staff.
  • Create record of communications concerning activities per department standards.
  • Provide training, direction, and assistance to associate underwriters and underwriter trainees.

Job Specifications:

Education:
  • Bachelor's degree, or combination of education and surety experience
  • Bachelor's degree in business administration, economics, finance or accounting preferred

Certifications/Designations:
  • Certified, or working towards, AFSB designation.
  • Must have a valid and current drivers' license and must have acceptable driving record in accordance with Company practice.
  • Employees are expected to participate in continuing education throughout their careers.

Experience:
  • 3+ years of contract surety underwriting experience.

Working Conditions:
  • General office environment.
  • Up to 25% of travel is required, to visit agency force and contract accounts either independently or by accompanying surety representatives. Overnight trips included.
  • May be exposed to weather conditions, and/or results and debris of adverse weather conditions, during agency/contract visits.

About United Fire Group

United Fire Group, Inc., together with its subsidiaries, provides property and casualty insurance for individuals and businesses in the United States. The company offers commercial and personal insurance products, including auto, property, and casualty insurance, as well as other specialty insurance products. It also provides reinsurance for other insurers' property and casualty products. The company markets its products through a network of independent agencies.
Learn more about United Fire Group
Size
1,086 employees
Market Cap
$706.2 million
Industry
Finance & Insurance
Net Income
-$112.7 million
Founded
1946
5 Year Trend
+1.4%
Revenue
$1 billion
NASDAQ
UFCS
* Ladders Estimates

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