Bind Underwriter

4 days ago

Scottsdale AZ United States IFG Companies Full time

DRAFT

POSITION TITLE: Bind Underwriter

REPORTS TO: Regional Bind Director

DEPARTMENT: Bind Underwriting

FLSA/EEO CATEGORY: Exempt, Professional

DIRECT REPORTS: None

PREFERRED LOCATION: Scottsdale (AR)

POSITION SUMMARY

The Bind Underwriter ("BU") is responsible for developing and maintaining a profitable book of commercial property and casualty business produced through wholesale producers (i.e., agents and brokers) with binding authority for IFG Companies. The BU is expected to develop strong relationships with assigned producers to produce profitable business flow. Bind producers directly access GROW, which is IFG Companies' proprietary Bind underwriting system that provides a portal for the producer to quote, bind and issue policies. The BU will monitor the risks, classes and profitability of business written or referred by Bind producers and take actions, as appropriate, to ensure the resulting book of business is balanced, profitable and within authorities and guidelines.

To support the underwriting and quoting process, the BU will employ IFG Companies' approved forms and advanced underwriting tools, which include GROW, predictive analytics, third-party data and proprietary rating tools that enhance risk selection, evaluation, quoting, binding and policy issuance.

POSITION RESPONSIBILITIES INCLUDING

Experience, skills and responsibilities for this position include the following:

Bind Underwriting Book Management

  • Meeting and working with producers in assigned territories to ensure high-quality business flow that meets IFG Companies' underwriting appetite and guidelines.
  • Assisting assigned producers in learning to use GROW and understanding IFG's embedded underwriting guidelines such that producers will be able to identify business that falls within their binding authority and understand when business requires referral to a BU.
  • Evaluating appropriate pricing and coverage terms on referral business, with assistance from IFG Companies' rating tools, while following underwriting guidelines for appetite and coverage terms as respects the class of business being considered.
  • Monitoring and meeting profitability, production and marketing goals for the BU's book of business.
  • Monitoring the performance of the BU's new and renewal business to determine what underwriting actions are most appropriate with respect to pricing, renewal, non-renewal or changes in coverage terms.
  • Maintaining excellent communication with Bind producers so they know what to expect at renewal, are then less likely to move the business and are given due notification whenever possible, if non-renewal or changed terms are expected.
  • Monitoring Bind policy premium audits to determine whether pricing or other actions are required based on changes in insureds' operations and/or exposures.
  • Keeping Bind producers well informed about IFG Companies' Bind product line offerings, with a focus on targeted classes of business.
  • Providing or seeking referral advice to and/or from other underwriters, the regional director, the unit head and/or Corporate Underwriting, re individual risk acceptance or declination, renewals or non-renewals, pricing and terms, when appropriate.

General Underwriting Responsibilities

  • Exhibiting sound judgment and strong technical knowledge of Bind underwriting principles, while complying with Bind underwriting guidelines that apply to the risks being underwritten.
  • Keeping informed of industry, competitor and claim trends that may impact the relative and absolute attractiveness of risks being underwritten.
  • Being or becoming a subject matter expert for certain classes of business that are within IFG Companies' Bind underwriting appetite.
  • Being generally familiar with regulatory and contractual considerations as regards contingent renewals or non-renewals to ensure compliance with respective state regulations and consulting with IFG Companies' Compliance unit, when needed.
  • Regularly traveling to meet assigned producers to build and maintain strong relationships that lead to profitable business flow.
  • Promoting the IFG Companies' brand.
  • Assisting IFG Companies' marketing efforts generally by providing product feedback with respect to competitors, products and the overall marketplace.
  • Collaborating and assisting other team members on underwriting and marketing matters.
  • Training, coaching and mentoring less experienced Bind underwriters and support staff.
  • Other duties as assigned.

REQUIRED KNOWLEDGE/SKILLS/ABILITIES

  • Knowledge of commercial property and casualty Bind business, classifications, pricing and coverage options with adherence to applicable statutory compliance requirements and corporate guidelines.
  • An ability to manage the BU's book of business with appropriate overall limits and class diversification.
  • General knowledge of the Bind producer distribution system.
  • An ability to analyze data and make well-informed risk selection and risk management decisions.
  • Strong problem-solving and decision-making skills that aid in providing solutions for producers and insureds, while protecting IFG Companies' economic interests.
  • Excellent written and oral communication skills.
  • Strong analytical and organizational skills, with excellent attention to detail.
  • An ability to plan, organize, prioritize and manage multiple tasks while meeting deadlines.
  • Team player, with an energetic personality and strong interpersonal skills.
  • Strong computer skills and an ability to learn to work with proprietary systems.

EDUCATION/EXPERIENCE/CERTIFICATIONS

  • Minimum of 4 to 9 years of commercial Bind property and casualty underwriting experience, combined with sound knowledge of commercial Bind underwriting coverages.
  • College degree preferred, with coursework in Risk Management/Insurance a plus.
  • CPCU or other relevant insurance-related designations a plus.

PHYSICAL DEMANDS

  • Physical demands are considered to be that of a climate-controlled office environment, with minimal physical exertion.
  • Position is hybrid and requires the ability and the willingness to work at least three (3) days per week in IFG Companies' offices.
  • Position requires prolonged sitting, extensive utilization of computers and interactions with others in person and via phone.
  • Position requires the ability and willingness to travel as required to meet business demands.

BENEFITS

  • IFG Companies offers competitive compensation and benefits, including medical, dental, vision, 401(k), flexible spending, short-term and long-term disability insurance, life insurance, long-term care, paid parental leave, vacation and other paid time off.

IFG Companies is an equal opportunity employer committed to a diverse workforce.

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