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 management and professional liability insurance, as well as surety bonds to a diverse range of businesses and non-profit organizations. This position is designed for individuals 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. In this role, you will manage a smaller assigned book of business, focusing on existing accounts while also identifying new business opportunities. Your responsibilities will include underwriting and negotiating routine customer accounts to minimize risk and maximize profitability. You will partner with leadership to execute underwriting strategies that align with business unit objectives, ensuring both profit and growth. Additionally, you will collaborate closely with assigned Account Executives and enterprise partners to analyze and evaluate risk, contributing to the overall success and profitability of Travelers. As you develop your skills in risk assessment and product sales, you will be expected to foster relationships with both internal and external partners, identifying cross-selling opportunities and engaging in consultative marketing. This position requires a detail-oriented individual who is decisive and eager to learn, as you will be instrumental in driving results and achieving business goals within the Commercial Surety team.

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.

Nice-to-haves

• Experience in the insurance industry, particularly in underwriting or risk assessment.
• Familiarity with surety bonds and related products.
• Strong analytical skills and attention to detail.

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, and a fully funded Pension Plan by Travelers.
• Paid Time Off: Minimum of 20 days annually, plus nine paid company holidays.
• Wellness Program: Access to tools, discounts, and resources for wellness goals, including mental health support.
• Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable contributions.