Underwriter

JOB OBJECTIVE:
The middle market underwriter reviews risks, determines acceptability, and successfully writes profitable business accounts. Within designated authority, reviews insurance applications to evaluate, classify and rate each risk to determine acceptability, coverage and pricing.  Responsible for the financial performance of the assigned book of business and is expected to achieve profitable retention and new business growth.  Focused on taking action to achieve results that positively impact sales and profitability while ensuring excellent customer service and timely responsiveness to independent agents for their commercial lines accounts.

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.    Identify, create and initiate new business opportunities within current book of business and assigned agencies.
4.    Gather and analyze information necessary to make an accurate evaluation of risk. 
5.    Accept or reject commercial lines accounts that fall outside of straight through processing rules through exposure identification and risk analysis, including:
•    understanding all exposures that might cause a policy to incur losses;
•    conservatively assessing the likelihood of any exposure actually causing a loss and the probable cost if it does;
•    setting a premium that, on average, would deliver a profit after both prospective loss costs and operating expenses are covered;
•    be willing to walk away if the appropriate premium cannot be obtained.
6.    Apply discretionary pricing appropriately based on risk exposures, risk quality, loss potential, pricing model indications and your letter of authority.
7.    Determine acceptability of revision requests that fall outside straight through processing rules and communicate how the revision will be handled to the Associate Underwriter.
8.    Communicate all underwriting decisions or changes on coverage, limits, exposures and/or pricing, discussing alternatives with assigned agents as needed.
9.    Promote effective agency relationships and encourage continued use of our company products and technology.
10.    Provide support to appointed agents by serving as a resource for underwriting questions.
11.    Utilizes Encova systems to transact requests and endorsements.  
12.    Utilize available resources including company underwriting guidelines, business unit strategies, and consultations with others to ensure adequate understanding of risk exposures.
13.    Prepare proposals to producers, including negotiation of terms and conditions.
14.    Ensure the proper issuance of policies, certificates, filings and notifications.
15.    Seek the guidance of management on risks exceeding assigned authority levels.
16.    Effectively utilize industry rules and guidance to ensure proper policy construction.
17.    Identify underwriting issues; recommend and develop plans for problem resolution and implement them where appropriate. 
18.    Manage existing and prospective accounts by actively participating in account renewals, new business presentations as needed and discussion with agents.
19.    Participate in monitoring and analyzing growth and profitability of assigned agents; initiate actions and understand downstream impact of alternatives. 
20.    Mentor entry-level underwriters and trainees to achieve profitable retention, growth and customer service standards.
21.    Serve as a resource for other team members and units.
 

OTHER FUNCTIONS:
1.    Maintain an awareness of the current objectives and initiatives of Encova Insurance.
2.    Maintain an understanding of all products offered by Encova Insurance and be able to guide agents to the appropriate contact for needs outside of commercial lines.
3.    Travel to various locations to support business objectives when necessary.
4.    Perform other duties as assigned.
 

KNOWLEDGE, SKILLS AND ABILITIES:
•    Minimum 2 years of commercial lines underwriting experience in package lines and/or worker’s compensation in the Property and Casualty insurance market strongly preferred.
•    Bachelor’s degree preferred, demonstrated significant underwriting experience may substitute. 
•    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) 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 complex 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. 
 

This position has been evaluated in accordance with the Americans with Disabilities Act.  Encova Insurance makes every effort to reasonably accommodate disabilities to permit performance of the essential functions and candidates who need such accommodation are encouraged to seek it.  This description reflects the nature and level of work performed by associates in this position.  It is not an all-inclusive inventory of duties, responsibilities and qualifications required.  It provides an accurate overview of the work and skills needed to perform this position.  Because job content may change from time to time, Encova Insurance reserves the right to add and/or delete functions from this job as it deems necessary for business reasons.