Senior Workers' Compensation Branch Underwriter

3 weeks ago

Chicago, United States ICW Group Full time

Are you looking for more than just a job? Do you want to have a voice and feel a sense of belonging? At ICW Group, we hire innovative people who consistently adapt, grow and deliver. We believe in hard work, a fun work environment, and embracing creativity that only comes about when talented people collaborate to develop solutions. Our mission is to create the best insurance experience possible.

Headquartered in San Diego with regional offices located throughout the United States, ICW Group has been named for seven consecutive years as a Top 50 performing P&C company offering the stability of a large, profitable and growing company combined with a small-company entrepreneurial spirit. Our purpose-driven ethos provides team members with opportunities to contribute, develop, and belong.

The Senior Workers' Compensation Branch Underwriter will assist with the achievement of effective and profitable Branch Underwriting results according to Company Goals and Guidelines in support of the South Midwest Region: Illinois, Indiana, Kentucky, and Missouri. This position exists to ensure profitable growth of insurance business through proper classification and pricing of risks in order to exceed Line of Business goals. You will evaluate complex business for risk acceptability; matching price to exposure, loss frequency and severity for profitability, and rating plans/modifications for renewal retention. This position exists to drive profitable growth in a specialty area of insurance business, through proper classification and pricing of risks in accordance with Company guidelines, standards, and compliance with state laws.

This is a remote role for those residing in IL, IN, MO or KY, and will also consider residents of WI, MI and IA.

WHAT YOU WILL DO

Reviews, evaluates, and communicates insurance policies and risks.

  • Accepts, modifies, or rejects risks based on a review of business in terms of loss experience, inspection reports, file information, web resources, policyholder tenure, related policies, and nature of risk.
  • Provides documentation for any exceptions to established guidelines and critical account information relating to the final Underwriting decision.
  • Verifies coverage eligibility.
  • Interprets policy contract language/forms and uses approved classification systems, rating plans and selection standards to determine eligibility, desirability and proper classification/pricing.
  • Communicates decisions and resolves agent/customer concerns promptly.
  • Provides technical assistance to internal and external customers regarding coverage interpretations, policy and endorsement provisions, and Underwriting acceptability for specialty area coverages.
  • Informs management of weakness in coverage and/or products that are adversely impacting growth potential.

Develops collaborative working relationships with assigned agents providing excellent customer service.

  • Communicates effectively via phone calls and email to gather and analyze necessary information critical to the Underwriting process.
  • Creates new business opportunities and improves policy renewal retention by going out on field visits.
  • Visits each broker assigned to them or their Underwriting team a minimum of two times a year.
  • Attends marketing events that may be organized by the Company; examples of such events may include but are not limited to Sporting Events, Trade Shows, Conventions, Roundtable, and/or Broker Advisory Committee meetings.
  • Participates in broker visitations and marketing events which may include overnight and/or out-of-state travel.

Assists with training and development for the Underwriting team.

  • Gathers pertinent competitive information to assist in developing recommendations to product development.
  • Maintains Underwriting quality standards.
  • Mentors and trains professional and support staff.
  • Provides feedback gathered from marketing activities to management through marketing call reports.
  • Participates in Underwriting and production presentations when approved by management.

SUPERVISORY RESPONSIBILITIES

This role has no supervisory responsibilities but may mentor and/or train entry-level Underwriters and Trainees.

WHAT YOU BRING TO THE ROLE

  • Bachelor's degree from four-year college or university in Business, Accounting, Statistics or related field, or equivalent combination of education and experience.
  • Minimum 5 years of related underwriting experience in a specialty area (Work Comp)

KNOWLEDGE AND SKILLS

  • Solid working knowledge of Workers' Compensation operations.
  • Familiarity with sales or training, highly desirable. Proficiency with automated Underwriting systems.
  • Previous responsibility/accountability for department level development and analysis projects preferred.
  • Applies advanced Underwriting concepts, practices, and procedures in area of specialization.
  • Ability to read and interpret documents such as submissions, loss control reports, and standard policy forms/endorsements.
  • Demonstrated ability to present complex data/information to varied audiences.
  • Proven organizational, analytical, and time management skills.
  • Demonstrated ability to negotiate, influence and close deals.
  • Excellent interpersonal and teamwork skills.
  • Demonstrated ability to train and mentor professional and support staff.

COMPENSATION

The salary range listed for this position, $86,247.55 to $145,450.54, is exclusive of fringe benefits and potential bonuses. If hired at ICW Group, your final base salary compensation will be determined by factors such as skills, experience and/or education. In addition, we believe in the importance of pay equity and consider internal equity of our current team members as part of any final offer. We typically do not hire towards the maximum of the range in order to allow for future and continued salary growth. We also offer a substantial benefits package outlined below.

WHY JOIN ICW GROUP?

  • Challenging work and the ability to make a difference
  • You will have a voice and feel a sense of belonging
  • We offer a competitive benefits package, with generous medical, dental, and vision plans as well as 401K retirement plans and company match
  • Bonus potential for all positions
  • Paid Time Off with an accrual rate of 5.23 hours per pay period (equal to 17 days per year)
  • 10 paid holidays throughout the calendar year
  • Want to continue learning? We'll support you 100%

ICW Group is committed to creating a diverse environment and is proud to be an Equal Opportunity Employer. ICW Group will not discriminate against an applicant or employee on the basis of race, color, religion, national origin, ancestry, sex/gender, age, physical or mental disability, military or veteran status, genetic information, sexual orientation, gender identity, gender expression, marital status, or any other characteristic protected by applicable federal, state or local law.

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