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This opening may be filled at the Sr or Consultant level, depending on the skills/qualifications of the selected individual.
JOB SUMMARY: Underwrites individual risk for acceptability, pricing, coverage, terms and conditions, by developing, analyzing and evaluating information and exposures on risks of the most complex technical nature. Achieves production and loss ratio goals within assigned territory by reviewing and analyzing claims, loss history and taking appropriate action on individual accounts, program or territory. Audits and manages specialized programs as assigned. Territory assignments are the most complex in nature concerning coverage, programs, and agents/broker/program manager relationships. Exercises a high level of authority and judgment with minimal direction. Responsible for determining appropriate reinsurance placement if any on individual accounts or programs. Fosters positive business relationships with co-workers agents, brokers, program managers and reinsurers. Responsible for research, development and presentation of new programs including market viability forms development, manuals and available reinsurance. Assists the manager with department strategies and employee coaching and development, and mentors underwriters at all levels. Has authority to approve referrals that exceed the authority of an Underwriter I, II or Senior Underwriter.
RELATIONSHIP: Reports to Department Manager Direct Reports: Up to 3 employees.
CORE DUTIES AND RESPONSIBILITIES:
1. Reviews individual risks or programs within assigned territory from agents, brokers or program managers and either declines or accepts business based upon information necessary to make the decision. The underwriter analyzes, with the highest level of technical expertise and accuracy, exposures to loss, develops an adequate premium charge for the exposure, determines appropriate endorsements and exclusions to address loss exposures for the insurance contract. Within department guidelines places reinsurance, if any, for the account. 2. Achieves individual production and loss ratio goals within assigned territory through sound territory management and marketing. Works with the most complex issues concerning coverage, programs, agents, brokers and program managers. The underwriter continually analyzes premium and loss results in their territory by agency, state, major class of business and by program. Performs audits of agents, individual risks and programs for compliance with company guidelines, state regulations and reinsurance conditions. Development and implementation of specific action plans may be required. 3. Handles policy maintenance items and other mid-term requests. Reviews endorsement requests and processes necessary changes to the policy. Reviews loss control reports and makes recommendations to the agent and/or changes to the policy. Follows up on outstanding information as required. Reviews claim activity and takes appropriate action. 4. Fosters positive business relationships with agents and brokers, through daily contact with assigned agents by developing and maintaining good rapport, and resolving agency conflicts. Travels to agency offices as required for audits, training or marketing visits. Entertains agents visiting the Company as required. Assists with development of marketing ideas and strategies for Underwriting Seminars and other marketing campaigns. 5. Demonstrates a thorough understanding of facultative reinsurance and places reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaty, semiautomatic and facultative reinsurance. Maintains good working relationship with reinsurers. Assists with the development of treaty proposals. 6. Researches and develops new programs as directed. Accesses market viability, creates forms & endorsements, and develops rates with actuarial support. Programs may include risk purchasing groups, captives or other alternative risk transfer mechanisms. 7. Responsible for the resolution of technical questions of the highest complexity. 8. Performs other duties as assigned
Education: Undergraduate studies and completion of general insurance courses such as CPCU, CIC, AU, ARM, CPIW, CWIS, or ASLI is preferred.
Experience: A minimum of eight years underwriting experience handling large or complex programs and accounts, excess & surplus lines experienced desired.
Knowledge: Knowledge of complex underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques. Knowledge of Standard Bureau Rating plans and concepts such as catastrophe management. Knowledge of Alternative rating methods and plans and pricing theory. Knowledge of Treaty & Facultative reinsurance. Knowledge of regulatory issues, the general agency system, market conditions and company operations
Skills/Competencies: Ability to communicate effectively, orally, and in writing, interpersonally with individuals and groups via telephone, fax, e-mail and in person. Demonstrates advanced negotiation skills and ability to work as a project lead. Ability to manage the line of business assigned, Ability to work with the wholesale/general agency distribution system, Ability to analyze highly complex insurance risks to determine acceptability including policy language, various commercial and alternative rating plans and methodologies, reinsurance, Ability to use/learn job related computer software. Ability to handle the most complex accounts. Ability to devise business solutions to complex problems, implement the most appropriate, and monitor the effectiveness. Ability to make decisions on highly complex issues and work with minimal direction. Ability to train and mentor all levels of underwriters, underwriting assistants and interns. Ability to analyze and interpret mathematical, statistical and logical data, and evaluate its reliability and significance.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Staffing Exceptions to the above minimum job requirements must be approved by the: Vice President or Human Resources
Overtime Eligibility: Not Eligible (Exempt).
Working Conditions: Normal office environment. Extended and non-standard work hours based on project and customer deliverables.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
Credit Check: Due to the fiduciary accountabilities within this job, a valid credit check and/or background check will be required as part of the selection process.
Imagine a place where you do meaningful work every day. Where the effort you put in is acknowledged and rewarded. Where your sense of purpose is discovered and fostered. Where you can be your very best self. You’ve found that place in Nationwide. We are America’s most diversified financial services organization. We’re trusted advisers for our members, offering solutions like home and auto insur...ance, life insurance, retirement savings tools such as annuities and mutual funds as well as business insurance, pet insurance and identify theft protection. Join something great, where you can make a difference!