Middle Market Portfolio Underwriting Specialist

Our Middle Market department is seeking a Portfolio Underwriter to join our growing team in our Mid Atlantic territory.    Position summary: Responsible for the underwriting and retention of Middle Market renewal accounts that drive profit and align with the business unit objectives and strategies. The renewal book will be comprised of 120 – 160 annual accounts with an average book premium of $12M - $20M. The Portfolio Underwriting Specialist will partner with Field Underwriting and Leadership teams to engage in agency and producer management for assigned territory, apply technical, sales and analytical skills to offer insurance solutions to our customers, promote franchise value opportunities such as cross-sell of the existing renewal portfolio and demonstrate a strong understanding of the business unit’s appetite and risk tolerance. Responsible for operating within a Letter of Authority and/or collaborating with business unit leadership on underwriting decisions. Accountable for meeting acceptable quality and service standards set forth by the company. Work closely with an Underwriting Technician to ensure all policies are efficiently and effectively managed throughout the renewal underwriting process.   This is a Full-time, Exempt role. Responsibilities/Essential Functions:   Responsibilities/Primary Functions:   Technical Underwriting Applies knowledge of underwriting concepts and risk acceptability to assigned renewal portfolio to make sound underwriting decisions. Knows key questions to ask to ascertain the full scope of operations and conducts a thorough exposure/control analysis on accounts. Collaborates with others on complex decision-making to garner additional expertise and support. Utilizes all underwriting tools and systems needed to inform the decision-making process ensuring underwriting guidelines are followed. Adheres to Catastrophe guidelines and maintains underwriting discipline to minimize exposure ensuring appropriate pricing, terms and conditions apply to individual risks. Collaborates with Risk Solutions on risk mitigation tactics including service offerings that will help improve the overall safety of our insureds operations. Utilizes Risk Solutions team to display technical expertise to our customers building confidence in our company. Operates within the scope of assigned Letter of Authority and/or receives appropriate approval for elements outside of authority. Completes file documentation in accordance with company standards and state regulations. Able to clearly articulate thought process around individual account decisions.   Portfolio Management & Financial Acumen Manages portfolio to execute upon business unit objectives for rate, new money, retention, mix and profitability. Identify cross-sell opportunities within existing book and coordinate with the Sales Underwriter to solicit new business opportunities. Understands pricing components and rating methodology and correlates pricing to exposure to develop adequate premium for the risk. Recommends pricing decisions that align with business unit rate, new money and retention targets. Knows marketplace factors and trends (e.g. distribution channels, competition, regulations, reinsurance costs, social inflation) that can affect pricing and able to effectively articulate pricing decisions on accounts. Understands how various profit components impact a portfolio’s profitability and applies financial knowledge through portfolio management strategies that improve the overall book performance. Analyzes book performance and leads the implementation of profit improvement initiatives with agency partners. Keeps Sales Underwriting team informed of any adverse underwriting actions that will be taken.   Sales Acumen & Customer Advocacy Partners with local team to build and maintain agency relationships within assigned agency plant. Co-travel with peers or leaders to meet with agents to discuss underwriting topics including but not limited to Hanover’s capabilities, renewal account negotiations, account cross-sell opportunities and/or in-person renewal quote delivery. Demonstrates and in-depth knowledge of Hanover’s products and appetite, clearly communicating Hanover’s position at the point of sale. Partners with other business units to deliver comprehensive insurance solutions. Utilizes sales skills including negotiation, objection handling and professional influencing capabilities as effective sales tactics to improve retention ratios. Proactively anticipate objections (internal and external) and develop effective responses. Demonstrates an understanding of the issues and concerns which affect both internal and external customers and stakeholders and applies that knowledge to enhance relationships.   Position Requirements: Bachelor’s degree or equivalent experience Generally, 3-7 years of standard commercial lines underwriting experience. Experience with account size $100K premium and above is preferred Communication (written and verbal) - anticipates audience needs when communicating, actively seeks to understand when there is lack of clarity, able to clearly articulate and express points of view and perspectives both verbally and in writing. Judgement and Decision Making – able to apply logic to decisions identifying and evaluating risks and implications. Uses current data and information to inform recommended decisions and actions. Agile and Adaptive – ability to work in a fast paced, highly dynamic environment. Able to shift focus and manage new and changing situations. Teamwork and Collaboration – seeks opportunities to share information and offer ideas that will allow others to benefit or succeed. Shows respect for differences and diversity in ideas and views. Prioritization and Desk Management – takes personal ownership for the management workload and output. Applies understanding of business workflows and processes to determine focus and urgency needed. Understands and applies best practices and performance standards to work product.