Account Underwriter / Internal Underwriting Support - Commercial Surety

$64,500 - $106,400/Yr

Travelers - Parsippany-Troy Hills, NJ

Full-time - Entry Level

Parsippany-Troy Hills, NJ

Insurance Carriers and Related Activities

About the position

As an Account Underwriter in the Commercial Surety team at Travelers Insurance, you will play a crucial role in providing surety bonds for individuals and businesses of all sizes, both domestically and internationally. This position is dynamic, blending the evaluation and analysis of financial and business risks with the development of relationships and the negotiation of insurance solutions. You will work in a fast-paced environment, collaborating with a local and national team to build strong connections with clients, agents, and brokers. Your responsibilities will include evaluating and pricing risk through financial and contractual underwriting, as well as offering tailored surety product line solutions to our agents and customers. In this role, you will manage the profitability, growth, and retention of a smaller assigned book of business, primarily consisting of existing accounts. You will underwrite and negotiate routine customer accounts to minimize risk while maximizing profitability. Partnering with leadership, you will execute business unit underwriting strategies to achieve profit and growth objectives. Building and maintaining relationships with internal partners and external stakeholders will be essential, as you will identify cross-selling opportunities and engage in regular touchpoints with external partners. Limited travel may be required for these engagements. As you develop your skills in assessing risk and selling our products, you will contribute to the overall profitability and success of Travelers. You will also learn to identify and capture new business opportunities using consultative marketing and sales techniques, collaborating closely with assigned Account Executives to execute agency, region, and group sales plans. Additionally, you will complete underwriting support activities for assigned agents on a limited basis and perform other duties as assigned.

Responsibilities

• Manage the profitability, growth, and retention of a typically smaller assigned book of business largely composed of existing accounts.
• Underwrite and negotiate routine customer accounts to minimize risk and maximize profitability.
• Partner with leadership to execute business unit underwriting strategies across your book of business to achieve profit and growth objectives.
• Cultivate and maintain relationships with internal partners within the business unit and across the enterprise to identify cross-selling opportunities.
• Foster and maintain relationships with external partners through regular touchpoints and engagement, with limited travel as needed.
• Learn to identify and capture new business opportunities using consultative marketing and sales skills.
• Collaborate with assigned Account Executive(s) to execute agency, region, and group sales plans with guidance from management.
• Complete underwriting support activities for assigned agents on a limited basis.
• Perform other duties as assigned.

Requirements

• Bachelor's degree.
• One to three years of applicable underwriting experience.
• Working knowledge of products, the regulatory environment, and local market conditions.
• Critical thinking skills with the ability to underwrite, market products, identify financial challenges, and analyze available information to make decisions in alignment with our risk appetite.
• Communication skills with the ability to negotiate with agents and brokers.
• One year of related professional experience.

Benefits

• Health Insurance: Coverage for employees and their eligible family members from the first day of employment.
• Retirement: 401(k) matching contributions dollar-for-dollar up to the first 5% of eligible pay, subject to an annual maximum, and a fully funded Pension Plan by Travelers.
• Paid Time Off: Minimum of 20 days annually, plus nine paid company holidays.
• Wellness Program: Tools, discounts, and resources to support wellness goals, including access to free professional counseling services and health coaching.
• Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable contributions.