Underwriting Consultant - Specialty Property (Remote or Hybrid))
Holmdel, NJ
Remote
Full Time
POSTED ON 10/19/2023
CLOSED ON 3/31/2024
Job Posting for Underwriting Consultant - Specialty Property (Remote or Hybrid)) at Intact Insurance Specialty Solutions
We currently have an opportunity for an Underwriting Consultant to join our Specialty Property team. This position underwrites risks including the selection and rejection of new and renewal business for the most complex, specialty accounts within the highest underwriting authority levels. Develops and executes strategic initiatives that contribute to the growth and profitability for a book of business in an assigned territory. Focus is typically on new business production and large account management. Develops superior working relationships with producers to successfully promote achievement of mutual growth and profitability goals. Viewed as a senior resource and may act as a technical expert for a particular line of business. Acts as a coach or mentor to junior members of the department.
Responsibilities:
Responsibilities:
- Maximizes opportunities for underwriting profitable new and renewal business, as appropriate based on market conditions, by leveraging business relationships, product knowledge and underwriting acumen. Develops and maintains an active target account list tracking prospects and account rounding and/or missed opportunities. Manages financial performance of all assigned products in assigned territory including: accident year loss ratio, premium plans (including new business, retention, and rate/exposure increases), and commission targets.
- Underwrites a book of business. Manages underwriting quality and book management. Executes underwriting strategy, including portfolio management, self-audits of new and renewal business and well documented approvals of underwriting edits. Ensures compliance with standards and assigned underwriting authorities.
- Demonstrates a strong understanding of exposures and key coverage issues. Makes underwriting decisions to accept, decline, or modify risks within the highest production underwriter authority levels. Implements underwriting decisions in compliance with state laws.
- Develops superior working relationships with producers to successfully promote achievement of mutual growth and profitability goals and to supply the appropriate products and services. From a sales perspective, has the ability to identify gaps in coverage and/or services, understands where the company can make a difference based on those gaps and uses that information to help retain or obtain a customer. Works closely with and establishes strong business partnerships with other departments, including claims, actuary, and risk control staff in an effort to better service producers and accounts.
- Regularly travels to key producers/accounts and remains highly visible in the marketplace. Anticipates the needs of the agency plant, analyzes trends, and implements proactive strategies that best position the business. Understands and communicates the company’s underwriting appetite and generates qualified business in support of that appetite. Monitors agency action plans and participates in agency planning and marketing meetings to best position the business for the future.
- Gathers and analyzes competitor information and producer specific reports on assigned producers’ new business flow, retention, profitability and potential, to support territorial rate reviews. Works with other underwriting staff to determine and make recommendations for marketing, pricing, products and systems.
- Maintains a strong professional knowledge of competitive, regulatory and legal environments and applies this information effectively. Responds to requests for assistance or consultation from other company businesses or Home Office staff and may participate on related projects and committees as a subject matter expert. May participate in industry events as a subject matter expert and representative of the company.
- Mentors and coaches less experienced underwriters. Develops and leads technical training and provides guidance to other departments within the company, as needed.
- Expert knowledge of technical underwriting, pricing, and coverage issues. Must be a proven self-starter with strong multi-tasking and relationship management skills. Must have superior negotiation, marketing and sales skills.
- Must have strong analytical, decision making, problem-solving, communication, presentation, listening, and organizational skills. Must be able to work both independently and as a highly collaborative member of a team. Must be proficient with Microsoft Office suite and electronic underwriting systems.
- Must maintain strong professional knowledge of legislative issues, industry trends and marketplace issues for the line of business within the territory. Must be able to work in a fast pace and rapidly changing environment.
- Must be able to act as coach and mentor to junior members of the department. Must possess a high and extensive level of technical knowledge and skills including product and industry.
- Bachelor’s degree or equivalent experience
- 7-10 years of progressively more complex excess specialty property experience
- Professional insurance designation is preferred (AICPCU, RPLU)
Job Number
2331BR
Division
Intact Specialty Property
Location
Holmdel NJ
Location(s)
Remote
Country
United States
About Us
At Intact Insurance Specialty Solutions we are experts at what we do. Our deep understanding of the specialty insurance market is the foundation for our customized solutions, backed by targeted risk control and claims services. Our employees are passionate about providing insurance coverage that’s aligned to our targeted customer groups. Today, we help protect over a dozen industries with tailored coverages and services.
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Salary.com Estimation for Underwriting Consultant - Specialty Property (Remote or Hybrid)) in Holmdel, NJ
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