Small Business Underwriter

JOB OBJECTIVE:

The Underwriter, Small Business’s objective is to review routine risks, determine acceptability, and successfully write profitable business accounts. The underwriter, within designated authority, reviews insurance applications to evaluate, classify and rate each risk to determine acceptability, coverage and pricing.  The underwriter is responsible for the financial performance of the assigned book of business and is expected to achieve profitable retention and growth.  The underwriter is focused on taking action to achieve results that positively impact sales and profitability.

ESSENTIAL FUNCTIONS: 

1. Determine the acceptability, quality, pricing, profitability and opportunity for new and existing business.

2. Complete thorough risk analysis on designated accounts using appropriate Encova, NCCI, ISO and industry rules, policies, procedures, and guidelines, etc.

3. Underwrites and assesses risk for routine, small business renewals and new business items. 

4. Uses the predictive model for straight through processing of a high volume of accounts.

5. Utilizes Encova systems to transact requests and endorsements. 

6. Communicates with agents electronically through internal Encova systems. 

7. Identify, create and initiate new business opportunities within assigned book of business.

8. Gather and analyze information necessary to make an accurate evaluation of risk.

9. Determine appropriate pricing based on risk exposures, risk quality, loss potential and coverage provided.

10. Utilize available resources including company underwriting guidelines, business unit strategies, and consultations with others to ensure adequate understanding of risk exposures.

11. Prepare proposals to producers, including negotiation of terms and conditions.

12. Ensure the proper issuance of policies, certificates, filings and notifications.

13. Seek the guidance of management on risks exceeding assigned authority levels.

14. Effectively utilize industry rules and guidance to ensure proper policy construction

15. Identify underwriting issues; recommend and develop plans for problem resolution and implement where appropriate.

16. Manage existing and prospective accounts by actively participating in account renewals, new business presentations as needed and discussion with agents.

17. Participate in monitoring and analyzing performance of assigned agents; initiate actions and understand downstream impact of alternatives.

18. Serve as a resource for other team members and units.

19. Apply discretionary pricing appropriately based on the account exposures, predictive model indications and letter of authority.

20. Communicate all underwriting decisions or changes on coverage, limits, exposures and/or pricing, discussing alternatives with agents as needed.

OTHER FUNCTIONS:

1. Travel to various locations to support business objectives whenever necessary.

2. Perform other duties as assigned.

KNOWLEDGE, SKILLS AND ABILITIES:

• Bachelor’s degree from an accredited college or university preferred, demonstrated significant professional or insurance experience may substitute for educational requirements.
• Two years insurance experience in the property and casualty insurance market preferred.
• Interpersonal skills are required including the ability to demonstrate professionalism, adaptability, accountability, collaboration, and problem solving. 
• Insurance designations or insurance education course work (i.e. AINS-Associate in General Insurance) is strongly preferred.
• Critical thinking: Ability to assess an individual situation and select applicable rules from an array of options, resulting in the most appropriate and sustainable decision.

• Strong oral and written communication skills.
• Knowledge of underwriting laws and rules and their application.
• Knowledge of policy and procedures regarding risk administration and risk management, underwriting and loss control.
• Knowledge of the insurance industry and the business environment in which it operates in order to develop an effective business strategy and remain technically current.
• Thorough understanding of business exposure calculations, classifications, experience rating or other plan modifications.
• Ability to develop and implement account, territorial, producer and book strategies to acquire and retain business.
• Ability to work effectively in a team environment.
• Ability to use logic and reasoning to identify strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Ability to identify problems and review related information to develop and evaluate options and implement solutions.
• Ability to make sound decisions after considering all facts, potential risks, customer needs and alternative solutions.
• Ability to initiate and build relationships and tailor services to meet customer needs.
• Ability to present ideas and information to individuals and groups in a clear, concise, influential, organized and diplomatic manner and address concerns or needs.
• Ability to adjust priorities based on changing situations.
• Ability to effectively manage multiple assignments while meeting established guidelines.
• Proficient in Excel.