Underwriting Specialist

2 months ago


Scottsdale, United States IFG Companies Full time

DRAFT

POSITION TITLE: Underwriting Specialist

DEPARTMENT: Inland Marine

REPORTS TO: Senior VP Inland Marine

EEO CATEGORY: Exempt, Professional

DIRECT REPORTS: None

FLSA STATUS: Exempt

LOCATION: Alpharetta (GA), Chicago (IL), Hartford (CT), Scottsdale (AZ)


Position Summary/Objectives

An Underwriting Specialist – Inland Marine must have a sound foundation in underwriting principles to grow and maintain a profitable diversified portfolio of inland marine business per IFG Companies' underwriting strategies, guidelines and standards. The position requires review, investigation and analysis of new and renewal submissions and mid-term endorsement requests to determine acceptability for quoting/binding within granted Letters of Authority and established guidelines.


Position Responsibilities Including

  • Applies sound underwriting principles, policies, procedures and controls.
  • Selects, classifies, prices and determines coverage terms of individual inland marine risks following company strategies, guidelines and standards.
  • Reviews renewal portfolio to determine continued eligibility and acceptability.
  • Monitors key performance metrics against plan to achieve individual and team goals.
  • Achieves/exceeds quality, production and marketing goals and standards while maintaining underwriting integrity and overall profitability of the product line.
  • Develops and maintains excellent producer (i.e., brokers) relationships through marketing, product education and in-person visits.
  • Reviews renewal premiums for annual adjustments required by changes in operations, exposures and/or market conditions.
  • Works collaboratively with team members and across departments including Actuarial, Claims and Product Management.
  • Mentors less experienced underwriters and support staff.
  • Remains current on inland marine issues, competitors and the overall marketplace.
  • Attends industry conferences as appropriate.
  • Other duties as required.


Knowledge/Skills/Abilities Including

  • Thorough understanding of inland marine coverages, including, but limited to:
  • Builder's risk/renovation/installation floaters
  • Contractor's equipment, including heavy equipment
  • Riggers liability
  • Motor truck cargo
  • Commercial output policies
  • Scheduled floaters
  • Warehouse legal liability
  • Knowledge of the producer distribution system.
  • Ability to interpret and analyze data and make informed and calculated underwriting decisions.
  • Investigative skills including to research individual risks, products and industries including through the use of internal and external sources (e.g., websites, databases).
  • Technical expertise must include financial analysis, loss rating, assessment of individual risk/exposure analysis and rate for risk.
  • Excellent computer skills (e.g., Excel, Word, SharePoint and proprietary IFG Companies' underwriting systems) with demonstrable high accuracy output.
  • Advanced problem solving, reasoning and decision-making skills.
  • Excellent interpersonal, written and oral communication and presentation skills.
  • Responsive to the needs of colleagues and producers.
  • Ability to prioritize and manage multiple tasks while meeting deadlines.
  • High degree of attention to detail.
  • Proven team player who is inquisitive, creative and takes initiative.
  • Ability to provide leadership and direction to other team members.


Education/Experience/Certifications

  • Minimum of five years of commercial inland marine underwriting experience, combined with sound knowledge of commercial inland marine underwriting coverages.
  • College degree preferred, with coursework in Risk Management/Insurance a plus.
  • Established relationships with inland marine producers required.
  • Associate in Marine Insurance Management (AMIM) or other insurance related designations a plus.


PHYSICAL DEMANDS

  • Physical demands are considered to be that of a climate-controlled office environment, with minimal physical exertion.
  • Position is hybrid and requires the ability and the willingness to commute at least three (3) days per week to IFG Companies' offices.
  • Position requires prolonged sitting, extensive utilization of computers and interactions with others in person and via phone.
  • Position requires the ability and the willingness to travel as required to meet business demands.


Benefits

  • IFG Companies offers competitive compensation and benefits, including medical, dental, vision, 401(k), flexible spending, short-term and long-term disability insurance, life insurance, long-term care, paid parental leave, vacation and other paid time off.


IFG Companies is an equal opportunity employer committed to a diverse workforce.



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