Job Title: Underwriter
Reports to: Underwriting Manager
Job Level: Professional/Managerial #2 (Exempt)
Assists in achieving company growth and profitability targets by analyzing new automobile, homeowners, dwelling property & umbrella business to evaluate, classify, and determine acceptability, coverage, and pricing. Analyze and manage manual renewals for policies requiring changes, endorsement processing and/or non-renewal action. Analyze and manage a book of business from numerous agencies by comparison to current and future growth targets and risk profiles. Provide support and guidance for designated agencies regarding risk exposure, criteria, coverage and rate questions via phone, email, or messaging within the system.
MAJOR DUTIES AND RESPONSIBILITIES:
- Develop and evaluate a personal lines book of business from assigned agencies using account underwriting methods to achieve growth targets in collaboration with sales and marketing.
- Examine application forms, inspection reports, insurance maps and past claims to determine degree of risk based on applicant financial history, loss experience, condition and maintenance of property, personal property, equipment and vehicles.
- Underwrite policies within designated authority level, determining whether to accept, modify, or decline risks, on new, renewal and endorsement submissions, in compliance with company standards and Virginia rules and regulations.
- Establish policy terms, coverages, tiers and limit of coverage.
- Monitor the amount of insurance in force on single risk or group of closely related risks, and evaluate possibility of losses due to catastrophe or excessive insurance.
- Collaborate with field representatives, agents or inspection companies to obtain further information, to determine eligibility, classification, or rating, or explain company underwriting policies.
- Promote strong partnering relationships with agency personnel; develop territory intelligence for assigned agents and provide overall Personal Lines program support, assistance and training to agency personnel.
- Inform underwriting leadership of agency situations and competitive information.
- Work with Underwriting Assistants to resolve technical issues and non-routine processing requests and/or inquiries.
- Continue education and development according to a personalized developmental plan. This includes, but is not limited to, learning all Personal Lines products and market trends, underwriting philosophy, processes and procedures.
- Assist in training new Underwriting team members.
- Other duties as assigned.
- Judgment and Decision Making – considering the relative costs and benefits of potential actions
- Critical Thinking – using analysis, logic and reasoning to identify strengths, weaknesses, alternative solutions or approaches to problems
- Mathematics – the ability to understand and explain rating methodology as well as analysis of a book of business in relation to statewide and company targets
- Reading and Comprehension – understanding written material in work related documents
- Writing – communicating effectively in writing as appropriate for the audience needs
- Active Listening/Learning – listening for and understanding implications of new information for current and future decision making
- Travel-the ability to travel to meet with agents, attend off-site meetings, conferences and seminars
- Strong interpersonal skills and customer centric focus with both internal and external customers
- Bachelor’s Degree or equivalent insurance or financial services experience
- Excellent analytical and organizational skills
- Excellent communication, telephone and customer service skills
- Ability to work with limited supervision
- Demonstrates skills with spreadsheet and word processing software
- Demonstrates an understanding and capacity to effectively engage in the negotiation process
- Ability to obtain and maintain a Virginia Property and Casualty license
Physical Demands and Work Environment:
The majority of this job is done in an office environment, but does require attendance at off site meetings, conferences, and seminars. It will include visits to agencies and some overnight travel. The ability to work remotely when needed is essential. The physical demands require the ability to sit, talk, see, listen and be able to operate an automobile, telephone and computer keypad.
Reasonable accommodations may be made to enable those with physical disabilities to perform essential functions.