Underwriting specialist job description

Responsibilities:

• Develops and recommends underwriting solutions when confronted with complex and unusual risks or unacceptable exposures. Solutions may require a departure from current guidelines.
• Works with Account Managers to ensure policies, binders, endorsements, and other Underwriting documents are properly prepared and executed. This also includes the analysis and design of manuscript wording that meets the needs of the client and FM Global (uses knowledge of manuscript forms/clauses and market practice).
• Demonstrates an advanced understanding of the key elements of purchasing reinsurance, program structure, layering and pricing. Effectively uses FM Global’s capacity, including in-house reinsurance facilities, to maximize net and reduce reinsurance cost
• Provides technical underwriting consulting/mentoring to others to ensure consistently strong profits. Keeps current with market pricing and practices.
• Maintains an up-to-date knowledge of company underwriting standards, policy forms and coverages, and loss prevention practices. Introduces and provides training to ensure implementation and compliance. Maintains knowledge of current market conditions.
• Effectively uses interpersonal skills to influence others to help meet corporate objectives.
• Conducts regular operational underwriting audits that support Corporate and Operations objectives.
• Participates in special projects to facilitate and assure appropriate implementation of either corporate or operational initiatives, as assigned.
• Handles accounts and prospects as assigned.
• Effectively manages significant workload so that assistance/mentoring can be provided to others.
• Assists in the development and delivery of effective presentations to clients/brokers, management, and others, through analysis of audience, logical flow, and concise communication.
• Conducts policy reviews

Qualifications:

• 4 Year College Degree/Bachelors
• Minimum 5 years of industry experience with at least 3 years as an Underwriter or equivalent position with FM Global.
• Strong technical underwriting knowledge, decision making and knowledge of internal IS systems.
• Advanced proficiencies of Business Communications, Exposure Analysis, Interpersonal Skills, Negotiations, Planning & Organizing, Policy Terms and Conditions, Profitability Analysis and Pricing, program Structure and Linesetting and Underwriting Guidelines.

We offer our employees a wide range of benefits including career long learning opportunities, tuition reimbursement, 401 (k), pension, flexible schedules, rich health and well-being programs, generous time off allowances, volunteer days and so much more!

FM Global is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.

Please note that all FM Global visitors, including external candidates interviewing for open positions will be required to be vaccinated and should be prepared to provide proof of vaccination.

GBLI | Global Indemnity provides specialty property and casualty insurance for small to middle-market businesses - and we're on a mission to the best-in-class while achieving steady, profitable growth. Our guiding principles include the core belief that our people are number one. We also strongly emphasize a customer-centric mentality and disciplined underwriting practices. Our work environment is flexible, friendly, and collaborative, with plenty of opportunities to take charge of your career.
What GBLI offers you:

* Generous paid time off (PTO)
* Professional development opportunities (including a mentorship program)
* Educational assistance program, which covers up to $5,250 in educational costs per year
* Comprehensive health insurance plan (with vision and dental)
* No-cost health insurance plan available
* Life insurance
* 401(k) retirement plan with up to 6% company match and immediate vesting
* Healthcare and dependent care flexible spending accounts
* Short-term and long-term disability
* Company-sponsored social events
* Various committees to get involved in, which include our Diversity, Equity, and Inclusion Committee, Charitable Giving Committee, and Employee Wellness Committee

GBLI is looking for an Underwriter with expertise in one of the following industry segments:

Contractors Segment Specialist

Lessors Risk Segment Specialist

Habitational Segment Specialist

This position will have Underwriting responsibilities that align with the department in which the individual would work and will have expertise in the Contractors, Lessors Risk or Habitational segment. The individual will report directly to the department in which their underwriting responsibilities reside. Work in collaboration with and at the direction of Corporate Underwriting and Product Management & Development to increase revenue within their segment.

Essential Duties & Functions

* Review, price, and manage renewal business in accordance with company guidelines
* Select, price, quote, and decline new business in accordance with company underwriting guidelines and experienced, underwriting judgment
* Respond to endorsement requests from existing accounts
* Utilize internal and external data reports and sources to identify trends for designated segment/classes of business
* Make recommendations to and collaborate with Underwriting Leadership, Product Management, and Underwriting Divisions to improve profitable growth. Present findings at monthly/quarterly meetings with Underwriting Leadership and/or Senior Management
* Participate with and make recommendations to Underwriting Divisions and Actuarial for rate discussions regarding designated segment/classes of business
* Perform periodic Underwriting Audits on accounts falling within designated segment/classes of business
* Work with Underwriting Divisions and agency partners to solicit feedback on designated segment/classes of business

Qualifications

* Expertise in designated segments/classes of business
* Bachelor's degree or equivalent experience
* 2 - 4 years relevant underwriting experience
* Excellent interpersonal and communication skills
* Ability to market products to agents and/or wholesalers
* Excellent analytical skills
* Excellent organizational and time management skills
* The ability to work collaboratively in a team with other underwriters
* Ability to travel
* Strong computer skills: Proficiency in Microsoft Office Products (Word, Excel, Outlook)
* Professional designations (CPCU, AU, ETC.) and Insurance rating experience preferred

A new job is a big decision. Don't work just anywhere. Be Selective.

Our Business

Selective is a midsized U.S. domestic property and casualty insurance company with a history of strong financial performance for over 95 years. Focused on exceptional employee and customer experience, we are frequently recognized for awards and honors, including being named to Forbes' 2021 Best Workplaces in Financial Services and Insurance list.

Our Culture

We genuinely care about each other, our customers, and the communities in which we operate. Our leaders actively champion career development and invite us to voice unique ideas and diverse perspectives. If that sounds appealing, we think you would feel inspired on our team to achieve and be rewarded for extraordinary results.

Underwrites new and renewal business at a high volume of premium. Administers and monitors underwriting rules and guidelines, rating manual rules, and insurance laws and regulations. Reviews agency book of business as well as profit/growth results and trends. Provides service and guidance to agents.

• Gather, analyze and evaluate risk exposure through appropriate risk documentation. Adopt proactive actions and/or make proactive recommendations to improve risk profitability.
• Apply knowledge and understanding of coverage forms, rating plans and guidelines in the selection and pricing of individual risks. Ensure adequate pricing of individual risks through proper classification, accuracy of information and adherence to company underwriting standards and philosophy.
• Work within specific authority level to quote, accept, decline, modify and renew risks within territorial assignment in accordance with accepted underwriting guidelines. Work in unison with managing agents and other departments to grow and maintain a profitable book of business.
• Provide guidance to Agents and other departments regarding various underwriting information. Effectively communicate underwriting decisions and appetite to agents. Reinforce the ease of doing business with MUSIC by meeting or exceeding agent expectations and service quality on a consistent basis.
• Develop and maintain effective working relationships with internal and external customers. Communicate openly and in a timely fashion. Participate in the development of team goals and work diligently to achieve them. Support all team decisions.
• Conduct continuous profit and growth analysis by territory and agency as assigned. Monitor premium retention with the use of electronic reporting tools.
• Visit all assigned agents at least once per year. Travel is required approximately 15% of the time.
• Trains and mentors lower levels.

Requirements and Qualifications:

• Demonstrate proficiency in usage of all supplied desktop tools, including the automated underwriting and email systems.
• Demonstrated ability to effectively communicate with internal and external customers/peers.
• Demonstrated ability to adapt to change as the company moves forward in its strategic vision.
• Must have valid state-issued driver's license in good standing. Travel required approximately 15% of time.
• College degree preferred
• Must have over 10 years of underwriting experience

Selective is an Equal Employment Opportunity employer. That means we respect and value every individual's unique opinions, beliefs, abilities, and perspectives. We are committed to promoting a welcoming culture that celebrates diverse talent, individual identity, different points of view and experiences - and empowers employees to contribute new ideas that support our continued and growing success. Building a highly engaged team is one of our core strategic imperatives, which we believe is enhanced by diversity, equity, and inclusion. We expect and encourage all employees and all of our business partners to embrace, practice, and monitor the attitudes, values, and goals of acceptance; address biases; and foster diversity of viewpoints and opinions.

Selective maintains a drug-free workplace.

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