Commercial Programs Underwriter

Description

Pharmacists Mutual Insurance has an opening for a Programs Underwriter. The Programs Underwriter manages assigned program(s) written through Managing General Underwriter(s) (MGU), both from an underwriting perspective and an overall internal program management perspective. The role vets and analyzes potential new programs with an underwriting lens. The role also builds and maintains strong relationships with MGUs that write and could potentially write commercial vertical business on behalf of PhMIC and in accordance with PhMIC's appetite, guidelines, rates, rules, and forms. The Programs Underwriter acts as the internal central point of contact for all assigned MGU programs. The role reviews and approves referrals from MGU, as program dictates, to ensure profitability and growth per program goals. The role also performs audit functions to ensure MGU adherence to set program parameters, Company guidelines, and state regulations.

Senior Programs Underwriter

• Responsible for achieving established goals for assigned program(s).
• Assists with the development and execution of assigned new and existing program(s), including underwriting guidelines, appetite, rates, rules, and forms.
• Partners with MGU and management to develop and refine underwriting guidelines and referral considerations.
• Takes initiative to identify industry trends or issues within assigned program(s)' line(s) of business and/or vertical(s).

Programs Underwriting Specialist

• Responsible for helping develop and achieving established goals for assigned program(s).
• Takes the lead on the development and execution of assigned new and existing program(s), including underwriting guidelines, appetite, rates, rules, and forms, with input from applicable leaders.
• Partners with MGU and management to develop and refine underwriting guidelines and referral considerations. Takes the lead in assessing and recommending solutions.
• Takes initiative to identify industry trends or issues within assigned program(s)' line(s) of business and/or vertical(s) and recommends solutions for these trends or issues.

Essential Functions

Essential functions may include, but are not limited to the following:    

• Reviews and evaluates risks presented via referrals to determine acceptability and pricing.
• Responsible for the development and implementation of potential corrective action plans to ensure the longevity of a profitable program.
• Central point of contact for assigned program(s) for compliance and regulatory matters, finance, reinsurance, claims, legal, accounting, pricing, data, IT, and marketing matters to ensure proper program integration.
• Leads collaboration and due diligence meetings with MGU and cross-functional PhMIC team to ensure underwriting guidelines, appetite, rates, rules, forms, growth, profit, administrative issues, and goals are identified and executed upon.
• Recommends and resolves corrective actions if necessary, communicating internally and externally regarding program initiatives. 
• Provides input and data to help drive and implement strategic Company plans.
• Exercises influential leadership qualities by demonstrating a high degree of professionalism.
• Participates in external meetings with business partners and attends industry events.
• Effectively documents conversations and decisions.
• Displays timely decision making and action to meet Company guidelines and goals.

Knowledge, Skills and Abilities

• Technical commercial insurance underwriting expertise for the line(s) of business and/or vertical(s) being offered through assigned program(s).
• Ability to apply innovative approaches to program(s) issues and solutions.
• Ability to audit and monitor effectiveness of assigned program(s) and offer solutions to improve financial results.
• Possess negotiation skills in order to listen and negotiate effectively and explain decisions to others.
• Analytical skills to demonstrate underwriting and programs curiosity and to ask necessary follow-up questions.
• Ability to analyze and interpret data and evaluate its reliability and significance.
• Strong financial analysis skills and market research skills.
• Possess critical thinking skills and sound judgment in underwriting decisions.
• Maintain records; prepare programs reports as required.
• Ability to interpret and apply laws, rules and regulations.
• Analyze complex issues and make critical decisions.
• Read, interpret and input data efficiently and accurately.
• Evidence of strong ability to communicate and work effectively with others (oral and written) at all levels of internal and external organizations.
• Determine when and how to escalate concerns to the appropriate level of management.
• Contribute effectively to the accomplishment of team or work unit goals, objectives and activities.
• Evidenced ability to establish and maintain strong working relationships with those contacted in the course of work.
• Evidenced project management skills.
• Ability to organize and prioritize work.
• Work independently and use initiative.
• Ability to handle multiple tasks at once and drive oneself and others to speedy completion.
• Meet definite deadlines and deal with pressure situations.
• Ability to maintain strict confidentiality with confidential information.
• Understand and utilize computer and related software effectively.
• Knowledge of management information and business systems such as Word, Excel, PowerPoint etc.

Qualifications

Experience and Education Qualifications

Senior Programs Underwriter

• High School Diploma or equivalent and 10 years of related experience; or
• Associate’s Degree or equivalent and 8 years of related experience; and
• One of the following industry related certifications: Chartered Property Casualty Underwriter (CPCU) or Certified Insurance Counselor (CIC)

OR

• Bachelor’s Degree and 5 years of related experience; or
• Master’s Degree with 2 years of related experience

Programs Underwriting Specialist

• High School Diploma or equivalent and 15 years of related experience; or
• Associate’s Degree or equivalent and 12 years of related experience; and
• One of the following industry related certifications: Chartered Property Casualty Underwriter (CPCU) or Certified Insurance Counselor (CIC)

OR

• Bachelor’s Degree and 8 years of related experience; or
• Master’s Degree with 5 years of related experience

Preferred Qualifications

All Levels:

• Successful completion of CPCU Designation

Work Environment

Work Environment

• Primary work environment is in a climate-controlled office setting
• Work may involve travel to attend meetings at MGU offices, industry conferences, or other locations