Full-Time

Underwriter

P&C

Confirmed live in the last 24 hours

Ryan Specialty

Ryan Specialty

1,001-5,000 employees

Consulting
Financial Services

Compensation Overview

$90k - $118.1kAnnually

+ Bonus

Senior

Jericho, NY, USA

Category
Insurance
Finance & Banking
Required Skills
Customer Service
Requirements
  • Minimum of 5 years of experience in Binding Authority and Insurance Underwriting with a Bachelor’s degree, or 3 years of experience and a Master’s degree.
  • Bachelor’s degree required, Master’s degree preferred; Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.
  • Prescribed: Minimum requirements for state P&C and/or surplus line licenses
  • Preferred: Certified Insurance Counselor (CIC), Chartered Property Casualty Underwriter (CPCU)
Responsibilities
  • Reviews and analyzes renewal and new business submissions, risks submitted by brokers, evaluates historical performance, and assists in the development of profitable binding terms as per underwriting guidelines.
  • Applies binding authorities effectively while brokering risks to successfully negotiate a placement while delivering on underwriting targets.
  • Evaluates documents such as application forms, binders, inspection reports, etc. to determine the degree of risk and obtains further information as needed to establish premium amount.
  • Determines the profitability of the premium amount and seeks to evaluate possibility of losses due to catastrophe or excessive insurance.
  • Ensures quality underwriting practice by adhering to guidelines and procedures and meets high service standards for timely quoting, binding, and customer service.
  • Demonstrates knowledge of binding authority underwriting guidelines and best practices and ensures compliance with regulatory and statutory policies and procedures.
  • Develops strong, long-term relationships with brokers, agents, and fellow underwriters to add to a profitable book of business.
  • Identifies opportunities to optimize premium coverage and monitors previous losses and actions on coverage gaps and/or opportunities impacting profitability, leveraging knowledge of all markets.
  • Develops the underwriting associates by providing technical knowledge transfer for them to successfully carry out operational tasks and enhances their business communication skills.

Company Stage

IPO

Total Funding

$705.5M

Headquarters

Chicago, Illinois

Founded

2010

Growth & Insights
Headcount

6 month growth

-1%

1 year growth

-1%

2 year growth

-1%
Simplify Jobs

Simplify's Take

What believers are saying

  • The acquisition of Castel Underwriting and Socius Insurance positions Ryan Specialty for growth by expanding its product offerings and market reach.
  • The company's investment in new space in Chicago indicates a commitment to growth and expansion, potentially leading to new job opportunities and increased market presence.
  • Ryan Specialty's innovative programs, like the Franchise Hotel Program, showcase its ability to adapt and cater to niche markets, enhancing its competitive edge.

What critics are saying

  • The rapid expansion through acquisitions may pose integration challenges and strain resources, potentially impacting operational efficiency.
  • The specialty insurance market is competitive, and Ryan Specialty must continuously innovate to maintain its leadership position.

What makes Ryan Specialty unique

  • Ryan Specialty's focus on specialty insurance and its role as both a wholesale broker and managing underwriter sets it apart from traditional insurance firms.
  • The company's strategic acquisitions, such as Castel Underwriting and Socius Insurance, enhance its product offerings and expand its international presence.
  • Ryan Specialty's ability to successfully reprice its term loan and reduce capital costs demonstrates financial acumen and operational efficiency.

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