Senior Underwriting Specialist

2 weeks ago

Madison, Wisconsin, United States Direct Staffing Inc Full time
Position Overview:
This is a senior-level underwriting role.

The Principal Underwriter is tasked with evaluating risks and recommending suitable Credit Union Protection insurance products while also identifying loss mitigation strategies for our most significant and intricate credit unions and associated entities in a competitive landscape.

This role will also involve leading internal Customer Development Process engagement and collaborating with various departments, including field operations, claims, brokerage, and loss prevention, to deliver comprehensive services and products to the designated accounts.


Key Responsibilities:
- Analyze exposures of credit unions and related entities across all insurance lines.

- Evaluate potential insured losses by reviewing strategic and operational plans, policies, financial conditions, loss histories, and risk management reports, engaging with credit union executives.

- Consult with the Team Leader and CUP staff on complex exposure or coverage matters.

- Determine appropriate coverage and deductibles for identified risks and communicate these policy details to credit unions and related organizations.

- Underwrite insurance coverage in alignment with established policies and procedures.

- Foster strong relationships with Field, Risk Management, Claims Staff, and Product Specialists to enhance collaboration with credit unions.

- Actively engage with credit unions to provide loss consultation.

- Utilize underwriting expertise and judgment to apply sound underwriting philosophy.

- Ensure all exposures are recognized, appropriate risk solutions are implemented, and accurate pricing is established.

- Provide technical underwriting guidance to the underwriting team, including approving accounts beyond standard authority.
- Cultivate and maintain relationships between field distribution and the Business Protection area, addressing issues related to pricing, coverage, and claims.

- Investigate concerns presented and make informed decisions to resolve issues in a manner that benefits both credit unions and our Division.

- Develop and sustain effective working relationships with our Mutual Group's Agency Brokerage Unit and external brokerage partners.

- Collaborate with field distribution staff, Agency Brokerage unit, and external partners to provide a comprehensive insurance solution, which may involve excess and reinsurance placements or surplus lines.

- Travel to assigned accounts for mid-year reviews, renewal presentations, and on-site risk management assessments.

- Participate in field planning meetings and attend discussions with assigned accounts.

- Conduct seminars and presentations on insurance coverage, loss control, and other Mutual programs for credit unions and related organizations.

- Contribute the underwriter's perspective to projects and teams for the benefit of CMG and its clients.

Qualifications:
- Bachelor's Degree in Insurance, Business, or equivalent professional experience. An advanced degree is preferred.
- Professional designations such as CPCU, AFSB, or UND are advantageous.
- Extensive knowledge of fidelity, property, and casualty insurance, along with a deep understanding of credit union operations.

This includes expertise in underwriting, marketing, claims adjudication, and financial analysis of credit unions.

- Familiarity with commercial property and casualty insurance principles.
- Expert-level understanding of credit union operations and their impact on insured loss exposure. A minimum of 7-10 years of progressively responsible experience is essential, ideally with field exposure.
- Proven organizational, analytical, planning, interpersonal, creative problem-solving, presentation, and project management skills.
- Willingness to travel approximately 25% of the time across multiple states in the Marketing Division.
- The ideal candidate has experience in the financial services or insurance industry.

Additional Information:
All information will be kept confidential in accordance with EEO guidelines.

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