Senior Commercial Underwriting Specialist

2 weeks ago

Bedford Park, Illinois, United States First Chicago Insurance Company Full time

Join our dynamic team as a Senior Commercial Underwriting Specialist at First Chicago Insurance Company, where we prioritize growth and excellence in the insurance sector.

The Senior Commercial Underwriting Specialist will play a crucial role in both independent and collaborative efforts with the Commercial Account team, ensuring exceptional service delivery to our valued policyholders. This position involves cultivating new agency partnerships while nurturing existing relationships. The focus will be on underwriting both new and renewal business with an emphasis on profitability, contributing significantly to departmental and organizational objectives.

KEY RESPONSIBILITIES:

  • Maintain comprehensive knowledge of coverage options, exposure assessments, rating methodologies, and state regulations.
  • Underwrite and assess pricing for new and renewal accounts, ensuring thorough documentation is completed promptly.
  • Process new business policies, endorsements, and renewals efficiently.
  • Oversee financial management of accounts, including issuing monthly billing invoices for specific direct bill accounts and processing phone payments as necessary.
  • Respond promptly to inquiries from agents, ensuring clear communication.
  • Analyze account and agency loss ratios and risk profiles, making informed recommendations regarding agency terminations or re-underwriting initiatives.
  • Review daily claims and communicate relevant issues to agents regarding drivers or accounts.
  • Possess in-depth knowledge of rating, pricing, guidelines, and forms applicable to assigned specialty lines of business.
  • Proactively explore new product opportunities and potential business segments or states for expansion.
  • Stay informed about industry trends, market conditions, and company initiatives to enhance knowledge sharing.

QUALIFICATIONS:

  • Proficient in Microsoft Word, Excel, and PowerPoint.
  • Experienced with industry resources and databases.
  • Familiarity with carrier billing and processing systems; knowledge of PTS and AS400 is preferred.
  • Strong oral and written communication skills.
  • Highly organized and detail-oriented, with the ability to manage multiple tasks effectively.
  • Capable of working both independently and collaboratively.
  • Minimum of 3-5 years of experience in Commercial Lines Multiple Line Underwriting, with a focus on Commercial Auto (Taxi, Livery, Para Transit) and Commercial General Liability (Contractors and OL&T).
  • Demonstrated understanding of the property and casualty insurance landscape.
  • Excellent organizational and interpersonal skills.
  • Strategic thinker with the ability to align with company objectives.
  • Knowledge of first dollar and deductible pricing strategies.

Preferred Qualifications:

  • College degree.
  • Professional designations such as CPCU, ARM, etc.

At First Chicago Insurance Company, we offer a competitive benefits package for all full-time employees, including:

  • Attractive salary structure.
  • Commitment to ongoing training and professional development.
  • Comprehensive medical and dental coverage.
  • Telemedicine services.
  • 401k plan with generous company matching.
  • Paid time off and holidays.
  • Tuition reimbursement programs.
  • Wellness initiatives.
  • Engaging company-sponsored events.
  • And much more.

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