Insurance Underwriter Specialist

3 days ago


Phoenix, Arizona, United States The Hanover Insurance Group Full time

**Job Summary**

The Hanover Insurance Group is seeking an experienced Inland Marine Underwriting professional to join our team. As an Insurance Underwriter Specialist, you will be responsible for underwriting new business, renewal business, and endorsement referrals. You will achieve financial targets for overall growth and profitability, drive execution of plans to achieve results, and collaborate with junior underwriters on portfolio management and strategic underwriting decisions.

About The Role

This role operates as the most experienced underwriter position and may focus on production goals or supporting territories in driving underwriting excellence. You will hold the highest level of underwriting authority and work closely with leadership to drive underwriting and portfolio quality, sales and operations excellence, talent development, strategy development, and execution.

Responsibilities

  • Underwrite new business, renewal business, and endorsement referrals
  • Achieve financial targets for overall growth and profitability
  • Drive execution of plans to achieve results
  • Collaborate with and provide oversight to junior underwriters on portfolio management and strategic underwriting decisions
  • Assure compliance with corporate and regulatory requirements and ensure the integrity of underwriting discipline by identifying underwriting issues
  • Develop new business opportunities with new and existing agents
  • Build strong partnerships and promote the Hanover franchise
  • Provide input and may assist in broader strategy formulation with primary focus on execution of strategies
  • Business Development: Identify and drive enhanced business opportunities and create growth within other lines of business and customer segments
  • Utilize the value proposition to enhance agency economics, partner conversion, and product specialization in partnership with local management
  • Prioritize and drive effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment in order to improve yield and retention ratios
  • Engage at the customer level for the most complex and prominent accounts within their territory
  • Independently implement territory business plans, monitor performance, adjust plan to ensure a substantial pipeline for future profitable growth
  • Actively engage with distribution and field leadership to develop business opportunities
  • Coach field underwriters on top selling techniques specific to the industry space
  • Collect market intelligence (price, product, services); advocate for change as needed
  • Assist in the development of new product capabilities, emerging market opportunities, and identifying growth opportunities
  • Portfolio Management: Manage portfolio for assigned territory with guidance from Leader
  • Provide input to and feedback on Portfolio, Distribution, and Infrastructure strategy
  • Analyze industry financial performance and proactively manage the performance of portfolio, recommending corrective action as needed
  • Gather critical local intelligence that will aid in the development product, service, and appetite improvements
  • Proactively respond to regulatory and legal environment
  • Maintain keen understanding of industry competitors, identify trends, and emerging issues
  • Closely monitor underwriting results for assigned regions and recommend actions to improve profitability
  • Underwriting Development and Support: Review key metrics and uncover trends that may lead to new business opportunities with agents while achieving profitable growth in accordance with business strategies
  • Prepare or analyze information on adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations in order to drive results within the assigned territory
  • Understand the relationship between changes in business strategies and financial results (e.g. loss ratios, premium, retention, and non-rate and book mix strategies)
  • Keep current on state/territory issues, regulations, and trends
  • Support execution of profit improvement initiatives with key agents


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