Commercial Insurance Underwriting Specialist

2 weeks ago

New York, New York, United States Acrisure LLC Full time
Job Overview

About Acrisure:

Acrisure stands as a premier global leader in Fintech, merging human expertise with advanced technology to deliver a wide array of financial products and services to countless businesses and individual clients. Our mission is to connect clients with solutions that safeguard and enhance their essential assets, including Insurance, Reinsurance, Cyber Services, Mortgage Origination, and more.

With a workforce exceeding 17,000 entrepreneurial professionals across 21 countries, Acrisure has experienced remarkable growth, escalating from $38 million to $4.3 billion in revenue within a decade. Our organizational culture is characterized by an entrepreneurial spirit, fostering innovation, client focus, and an unwavering determination to succeed.

Position Summary:

The role involves assessing insurability, determining rates, pricing, and recommending coverage tailored to the transportation sector for the markets represented by GTU. Collaborating with producers and insurance company underwriters, the underwriter evaluates the applicant's risk profile, selects suitable coverages, and establishes appropriate pricing to ensure the profitability and sustainability of the overall portfolio. This position also entails providing leadership and guidance to Policy Service personnel, ensuring adherence to all state insurance regulations and insurance company protocols.

Key Responsibilities:
  • Evaluate applications for coverage, including MVRs, financial statements, loss history, equipment details, FMCSA data, safety programs, contracts, and reports from loss control consultants.
  • Match applications and supporting documents against insurance company models and underwriting standards to ascertain acceptable risk levels. Assist producers with inquiries regarding applications and the likelihood of acceptance.
  • Analyze account-specific characteristics, assess potential loss due to claims severity and frequency, decline risks that cannot be equitably priced or do not align with insurance company parameters, and develop pricing for acceptable risks within established authority limits.
  • Leverage knowledge of agency management systems and insurance company rating models to quote new and renewal policies, fully utilizing GTU markets.
  • Prepare quotes and respond to producer inquiries while adhering to timeliness and accuracy standards.
  • Achieve or surpass assigned production targets.
  • Maintain accurate and consistent records and data within agency management and information systems in compliance with GTU and insurance company standards.
  • Assist in preparing for and responding to audits from GTU and insurance companies.
  • Foster and maintain effective working relationships with producers, insurance companies, GTU staff, and management.
  • Deliver prompt and professional customer service to producers.
  • Keep management updated on the status of daily operations and other assigned projects.
  • Investigate and analyze issues, recommending appropriate actions to management.
  • Mentor Underwriting Assistants and Associate Underwriters.
  • Exhibit knowledge of and support GTU's mission, vision, values, standards, policies, procedures, confidentiality standards, and ethical conduct.
  • Provide backup support to other underwriters as needed.
Additional Duties:
  • Engage in special projects as assigned.
  • Meet with prospects, producers, and insurance companies for training, relationship building, and business development.
Knowledge, Skills, & Abilities:
  • Exceptional analytical skills with the ability to manage complex tasks and collaborate effectively within a team environment.
  • Strong attention to detail and accuracy, with the capability to organize, problem-solve, and prioritize effectively.
  • Excellent written and verbal communication skills, with the ability to engage comfortably with others.
  • Proficiency in Microsoft Office Suite.
Training and Experience:
  • A college degree in business administration, accounting, or equivalent experience in underwriting for property and casualty, preferably within the transportation sector.
  • Experience in a Managing General Agency or Broker commercial lines is advantageous.
  • Possession of a Property and Casualty Insurance license in Tennessee is required. Chartered Property Casualty Underwriter (CPCU) status and ARM, CIW, or CIC designations are beneficial.
  • A minimum of two years of experience in Customer Service, Policy Service, Rating, or Underwriting within a commercial Property and Casualty agency.
  • Prior experience with Agency Management systems is preferred.
  • Adaptability and flexibility in response to change are strongly preferred.
  • Any equivalent combination of training and experience is acceptable.
Compensation Details:

Annual Salary Range: $65,000 - $95,000

Acrisure is dedicated to fostering a diverse workforce. All applicants will be considered for employment without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, veteran, or disability status.

Acrisure is equally committed to addressing social issues, co-founding initiatives aimed at enhancing access to insurance products and financial services for minority-owned enterprises.

To Executive Search Firms & Staffing Agencies: Acrisure does not accept unsolicited resumes from agencies without a signed mutual service agreement. All unsolicited resumes will be considered Acrisure's property, and the company will not be obligated to pay a referral fee.

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