Senior Underwriter for Large Construction Accounts

2 weeks ago

Melville, New York, United States Penn Foster Inc Full time
Who Are We? At Penn Foster Inc, we prioritize the well-being of our clients, communities, and each other. This commitment is the foundation of our reputation as a leading property casualty insurer for over 160 years.

Join us to experience a culture that thrives on innovation and collaboration. Imagine enjoying your work and the environment in which you do it.

Job Category: Underwriting Compensation Overview: The annual base salary range for this position reflects a nationwide market range and encompasses a broad spectrum of salaries for this role across the country.

The actual salary will be influenced by various factors, including the complexity and location of the role, the candidate's skills, education, training, credentials, experience, and other employment conditions.

As part of our comprehensive compensation and benefits program, employees may also qualify for performance-based cash incentive awards.

Salary Range: $108,000 - $179,000.00 Target Openings: 1

What Is the Opportunity? The Account Executive Officer (AEO) for Construction Loss Sensitive will collaborate with agents and brokers to provide tailored coverage for new and renewal business based on client needs.

This role serves as a technical resource. As an AEO, you will be decisive, detail-oriented, and adept at building relationships both internally and externally to drive results.

Your ability to independently evaluate complex risks and market our products in challenging environments will significantly contribute to the profitability and success of Penn Foster Inc.

Key Responsibilities:
  • Manage the profitability, growth, and retention of an assigned portfolio of business.
  • Underwrite and skillfully negotiate intricate customer accounts to mitigate risk and enhance profitability.
  • Develop and maintain relationships with internal partners across the organization to create sales strategies and identify cross-selling opportunities.
  • Engage with external partners by regularly meeting with agents and brokers to promote and sell our products, aiming to write and retain accounts that align with our risk appetite.
  • Identify and seize new business opportunities using consultative marketing and sales techniques.
  • Independently create and implement agency sales plans while frequently collaborating with your Managing Director to develop regional sales strategies.
  • Assist in training and mentoring less experienced Account Executives.
  • Perform additional duties as assigned.
What Will Our Ideal Candidate Have?
  • A Bachelor's degree.
  • Six to eight years of relevant underwriting experience, particularly in construction loss sensitive.
  • In-depth knowledge of construction loss sensitive products, the regulatory landscape, and the local insurance market.
  • Strong critical thinking abilities to proactively identify underwriting, marketing, or financial challenges and analyze information for timely decision-making aligned with our risk appetite.
  • Excellent communication skills with the capacity to negotiate effectively in challenging situations with agents and brokers.
  • CPCU designation.
What is a Must Have?
  • A minimum of 4 years of underwriting experience.
What Is in It for You?

Health Insurance: Employees and their eligible family members, including spouses, domestic partners, and children, are eligible for coverage from the first day of employment.

Retirement: Penn Foster matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program, where Penn Foster will contribute to your 401(k) account when you make a payment toward your student loan. You are also eligible for a Pension Plan fully funded by Penn Foster.

Paid Time Off: Start your career with a minimum of 20 days of Paid Time Off annually, plus nine paid company holidays.

Wellness Program: Our wellness program includes tools and resources to help you achieve your wellness goals. Additionally, our Life Balance program provides access to professional counseling services, life coaching, and other resources to support your daily life needs.

Volunteer Encouragement: We are deeply committed to the communities we serve and encourage our employees to engage. Penn Foster has a Matching Gift and Volunteer Rewards program that enables you to contribute to the charity of your choice.

Employment Practices: Penn Foster is an equal opportunity employer. We believe that our workforce should reflect the diverse customers and communities we serve. We are dedicated to recruiting, retaining, and developing diverse talent while fostering an inclusive workplace that celebrates differences and promotes belonging.

If you have specific questions regarding the physical requirements of this role, please reach out for assistance.

Penn Foster reserves the right to fill this position at a level above or below the level included in this posting.

To learn more about our comprehensive benefit programs, please visit our website.

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