Description:
Job Overview
Commercial Residential Underwriters are responsible for building and maintaining a profitable and sustainable book of commercial residential business. Daily activities center on selecting risks, coverage terms and pricing, issuing new and renewal quotes, servicing existing accounts, addressing at-risk or underperforming accounts, building and managing agent relationships, and assessing portfolio performance and changing conditions.
Job Responsibilities
As applicable and per specified Company guidelines, Company quality and time standards and Governmental regulations, quotes, underwrites, and binds new and renewal commercial residential business and services existing accounts:
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generates and issue new business and renewal quotes reflective of appropriate coverage options and pricing;
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reviews new business applications for insurance and selects risks that conform to underwriting guidelines and current risk appetite;
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tailors coverage options to contemplate account specific exposures;
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reviews and approves bind orders, issues binders and policies;
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reviews inspection reports and corresponds on inspection recommendations;
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reviews and processes endorsement requests;
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provides direction on legal notices, including compliant wording and timing.
Builds and manages agent relationships and reviews and monitors agent/portfolio performance:
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provides exceptional customer service to agents;
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assists agent with quote review and presentation as needed;
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monitors individual account and book performance and takes corrective action as needed;
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underwrites agent partner practices;
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performs site visits to support account management or relationship management objectives;
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conducts webinars for agent partners and insureds as needed.
Actively contributes as a member of the Company team by:
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providing assistance and support to residential commercial underwriting, claims, sales, product, systems and/or other team members;
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reviews and/or prepares periodic reports on portfolio performance, making recommendations on changes to appetite or practices as needed;
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preparing weekly report assessing workflow volumes;
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assisting with testing and designing new or modified systems;
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may train and mentor colleagues in preparation for advancement in underwriting roles.
Dynamically enhances Company’s success by taking advantage of learning and development opportunities and personally integrating positive actions to improve individual performance.
Participates in, assists with and/or carries out responsibilities for special Company projects and/or performs other related duties as assigned.
Commercial Residential Underwriter Job Family/Career Progression Overview
Commercial Residential Underwriters are responsible for building and maintaining a profitable and sustainable book of business. They are recognized as the gatekeepers and the face of the company, drawing on both advanced critical thinking and analytical skillsets, as well as strong interpersonal communication and sales aptitudes.
The Commercial Residential Underwriter I, II and Senior Underwriter roles are part of a progressive job series. Team members may be eligible for “learn and earn” advancement from a I to a II by demonstrating mastery of increasingly advanced requirements and exhibiting core aptitudes including effective risk selection, interpersonal skills, professional communication, critical thinking, learning agility, and time management skills. The Senior Underwriter role is a specialized position that requires advanced experience, or specific aptitudes and skill sets in a particular area of focus, including but not limited to training and mentoring, portfolio monitoring, or relationship management. Commercial Residential Underwriter II's may be eligible for "learn and earn" advancement to a Senior Underwriter position by demonstrating defined and specific, specialized and highly advanced underwriting experience, aptitudes and skill sets in a particular area of focus.
Skill progression can be earned by demonstrating proficiency and taking on increasingly complex tasks and job functions. Individual development plans are also available as part of the performance recognition system, with the intent of aligning business opportunities with the individual interests of high performing team members.
Commercial Residential Underwriting Team Overview
The commercial underwriting department is responsible for analyzing and assessing the risks of providing insurance and selecting pricing and terms that result in ethical, profitable, and sustainable portfolio performance. To this end, commercial underwriting also assesses and manages agent relationships, providing ongoing customer service, sales support, and performance management feedback. Daily functions include reviewing applications for insurance, preparing new and renewal quotes, issuing policies, endorsing policies, servicing agent and policyholder inquiries, reviewing performance indicators, addressing underperforming accounts, conducting agent and site visits, and contributing to presentations in support of agent partners.
Requirements:
Aptitudes, Skills, and Expertise
Qualities: Strong Written and Verbal Communication skills, exhibits commitment to ethical business practices, exhibits sense of personal accountability, quality-oriented; detail-oriented; self-starter; team player; multi-tasker; adaptability; flexibility; strong work ethic; positive “can do” attitude; collaborator; service-oriented; coachable; dependable; coach/mentor/trainer/teacher.
Advanced skill sets in the following areas: effective decision-making; time management; information and financial analyses; organization; problem analyses/solving; active listening; oral and written communication; interpersonal communication; keyboard entry speed of 45 WPM or more; effectively training and teaching on a wide variety of technical topics to a wide variety of internal and/or external audiences.
Advanced knowledge of: Company’s products, underwriting guidelines, history and culture; industry-wide commercial lines products, advanced technical and complex underwriting principles, practices, guidelines, business law and applicable insurance regulations; basic tenets of business planning and strategy; standard business software including Microsoft Word, Excel, Outlook, and PowerPoint.
Licenses, Education and/or Experience
2-4 years of post secondary education, 2+ years of insurance experience and pursuit of industry relavent continuing education is required. 4+ years post-secondary education, 5+ years commercial property underwriting experience and a current 2-20, AU and/or CPCU designation is preferred.
