Account Underwriter / Internal Underwriting Support - Commercial Surety

$64,500 - $106,400/Yr

Travelers - Edison, NJ

Full-time - Entry Level

Edison, NJ

Insurance Carriers and Related Activities

About the position

As an Account Underwriter in the Commercial Surety team at Travelers, you will play a crucial role in providing surety bonds for individuals and businesses of all sizes, both domestically and internationally. This position is designed for those who thrive in a dynamic environment where evaluating and analyzing financial and business risks is key. You will be responsible for building and maintaining relationships with agents, brokers, and clients, utilizing various communication platforms such as email, phone, Zoom, and Microsoft Teams, along with limited in-person engagements. Your role will involve working closely with assigned Account Executives and enterprise partners to analyze and evaluate risks, ensuring that you achieve business goals within your assigned book of business. In this fast-paced role, you will manage the profitability, growth, and retention of a typically smaller assigned book of business, which is largely composed of existing accounts. You will underwrite and negotiate routine customer accounts, aiming to minimize risk while maximizing profitability. Collaboration is essential, as you will partner with leadership to execute business unit underwriting strategies and cultivate relationships with internal partners to identify cross-selling opportunities. Additionally, you will learn to identify and capture new business opportunities using consultative marketing and sales skills, contributing to the overall profitability and success of Travelers. The ideal candidate for this position will possess a Bachelor's degree and have one to three years of applicable underwriting experience. You should have a working knowledge of products, the regulatory environment, and local market conditions. Critical thinking skills are essential, as you will need to analyze available information to make informed decisions that align with our risk appetite. Strong communication skills are also necessary, as you will be negotiating with agents and brokers to secure the best outcomes for our clients and the company.

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.

Benefits

• Health Insurance for employees and their eligible family members from the first day of employment.
• 401(k) retirement plan with dollar-for-dollar matching up to the first 5% of eligible pay, and a Pension Plan that is 100% funded by Travelers.
• Minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
• Wellness Program providing tools, discounts, and resources for wellness goals and mental health support.
• Volunteer Encouragement through a Matching Gift and Volunteer Rewards program.