Underwriter - P&C Insurance Specialist
3 weeks ago
The Binding Authority Underwriter is a key role within Ryan Specialty, responsible for developing and maintaining a profitable book of business by assessing and analyzing insurance risks, determining coverage terms, and building relationships with internal and external stakeholders.
Key Responsibilities- Review and analyze renewal and new business submissions, risks submitted by brokers, and evaluate historical performance to develop profitable binding terms.
- Apply binding authorities effectively to successfully negotiate placements while delivering on underwriting targets.
- Evaluate documents such as application forms, binders, and inspection reports to determine the degree of risk and obtain further information as needed to establish premium amounts.
- Determine the profitability of premium amounts and identify opportunities to optimize premium coverage.
- Ensure quality underwriting practice by adhering to guidelines and procedures and meeting high service standards for timely quoting, binding, and customer service.
- Demonstrate knowledge of binding authority underwriting guidelines and best practices and ensure compliance with regulatory and statutory policies and procedures.
- Develop strong, long-term relationships with brokers, agents, and fellow underwriters to add to a profitable book of business.
- Identify opportunities to optimize premium coverage and monitor previous losses and actions on coverage gaps and/or opportunities impacting profitability.
- Minimum of 5 years of experience in Binding Authority and Insurance Underwriting with a Bachelor's degree, or 3 years of experience and a Master's degree.
- Bachelor's degree required, Master's degree preferred; Business Administration, Risk Management preferred. Any other related discipline or commensurate work experience considered.
Ryan Specialty offers a comprehensive and best-in-class benefits package that helps employees achieve their physical, financial, and emotional well-being goals. This includes paid time off for company holidays, vacation, sick and personal days, paid parental leave, mental health services, and more.
CompensationThe target salary range for this position is $90,000 to $118,125 annually. Full-time roles are eligible for bonuses and benefits.
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