Insurance Underwriting Specialist

2 weeks ago

Austin, Texas, United States NESCO Inc Full time

PRIMARY PURPOSE:

The primary objective is to deliver third-party underwriting expertise while managing captive underwriting activities related to property and casualty lines, including workers' compensation, with account premiums varying significantly.


ESSENTIAL FUNCTIONS and RESPONSIBILITIES
Cultivates robust relationships with agents, brokers, carrier representatives, and internal team members.

Assesses risks and exposures linked to underwriting a portfolio of business, which includes crafting new and renewal business quote proposals, establishing loss projections, maintaining logs, preparing premium financing agreements, reviewing audits, collaborating with internal accounting and captive management teams for premium billing and collections, providing summaries and forecasts of payroll reports from clients, accurately conducting exposure-based analysis utilizing carrier rating models, submitting documentation, and negotiating pricing and coverage terms with carrier underwriters while effectively communicating these decisions to brokers, carrier underwriters, and management.

Collaborates with claims and risk control teams to address any service-related issues within programs.
Aids in the formulation and implementation of intricate underwriting rules and guidelines.
Analyzes both quantitative and qualitative data to enhance risk selection processes.
Serves as a technical resource for property and casualty coverage lines.

Develops and sustains strong relationships with both external and internal customers by identifying and anticipating business needs, delivering timely responses to captive clients, brokers, and management; supports business development efforts with marketing insights, presentations, and related activities.

Provides mentorship to underwriting personnel.
Engages in special projects as assigned.
Achieves underwriting department KPIs (key performance indicators) set by management.

ADDITIONAL FUNCTIONS and RESPONSIBILITIES
Undertakes other duties as assigned.
Supports the organization's quality initiatives.
Travels as necessary.

QUALIFICATIONS
Education & Licensing
A bachelor's degree in insurance or finance from an accredited institution is preferred. A Property Casualty License is advantageous.

Professional designations such as Chartered Property Casualty Underwriter (CPCU), Associate in Captive Insurance (ACI), Certificate in Captive Insurance (CCI), and/or Certified Insurance Counselor (CIC) are preferred.


Experience

A minimum of six (6) years of experience in commercial insurance, particularly in underwriting, or an equivalent combination of education and experience is required. Supervisory experience is a plus.

Skills & Knowledge
Ability to maintain favorable underwriting outcomes while enhancing the final product
Proficient problem-solving skills
Strong mathematical abilities, including accurate and efficient calculations
Excellent analytical capabilities
Familiarity with Captive Pricing Models and Captive Program Structures, including Excess of Aggregate and A Fund / B Fund Captive Structures
Capacity to work independently and accurately without direct supervision
Comprehensive understanding of premium pricing, loss projections, and the use of Risk/Loss Forecaster third-party software
Knowledge of captive management, including the intricacies of trust accounts, premium cessions, reinsurance agreements, program agreements, captive financials, and LLC Operating Agreements and their impact on underwriting
Ability to establish, maintain, and adhere to formal captive processes and best practices
Exceptional oral and written communication skills, including presentation abilities
Proficient in PC applications, including Microsoft Office products
Strong organizational capabilities
Excellent interpersonal and negotiation skills
Ability to produce comprehensive, accurate, and constructive written reports
Team-oriented mindset
Capability to meet or exceed performance competencies

WORK ENVIRONMENT
Reasonable accommodations will be considered when applicable and appropriate.

Mental:
Clear and conceptual thinking ability; excellent judgment, troubleshooting, problem-solving, analysis, and discretion; ability to manage work-related stress; ability to prioritize multiple tasks simultaneously; and ability to meet deadlines

Physical:
Computer keyboarding, travel as required

Auditory/Visual:
Hearing, vision, and speaking

NOTE:
A credit security clearance, confirmed via a background credit check, is required for this position.

The statements contained in this document are intended to describe the general nature and level of work being performed by a colleague assigned to this description.

They are not intended to constitute a comprehensive list of functions, duties, or local variances. Management retains the discretion to add or to change the duties of the position at any time.

NESCO Inc provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.

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