Business Development Underwriter - Workers Compensation (Pennsylvania)

$86,248 - $145,451/Yr

I C W Group - Pennsylvania Furnace, PA

Full-time - Entry Level

Onsite - Pennsylvania Furnace, PA

About the position

As a Business Development Underwriter at ICW Group, you will serve as the primary point of contact for agents and brokers, overseeing both underwriting and marketing initiatives. This role is pivotal in fostering relationships and building a profitable book of business. You will have the autonomy to establish collaborative relationships with agencies and producers, gaining insights into the external marketplace while underwriting within established guidelines. Your responsibilities will include evaluating routine business for risk acceptability, ensuring that pricing aligns with exposure, loss frequency, and severity for profitability, and implementing rating plans and modifications for renewal retention. The position is designed to meet the company's marketing and producer management objectives through the generation and maintenance of a profitable book of business. In this role, you will drive and manage a profitable and growing book of business, selling, servicing, and maintaining a producer force capable of achieving these goals. You will monitor the production and quality of assigned producers, driving the profitable sale of the company's products, including increasing sales of existing products and introducing new products as they are developed. You will also be responsible for developing the assigned producer group to enhance the quality and quantity of business obtained from them. Staying alert to industry changes, including WCIRB/NCCI rulings, forms, and coverage changes, is essential. Your duties will also involve prospecting and developing new business, prequalifying new producers to determine working relationships, and appointing new quality producers while setting and monitoring production expectations. A thorough knowledge of the assigned geographic territory regarding production sources, competitor activity, and economic and demographic idiosyncrasies will be crucial. You will produce marketing research to identify opportunities for management, product enhancements, new distribution channels, and new geographic markets with growth potential. Utilizing your underwriting authority, you will effectively price the company's products, accepting or rejecting simple to slightly complex risks based on various risk characteristics. Delivering superior customer service through collaborative relationships and maintaining communication with customers using company technology will be key aspects of your role. You will also provide production support through producer visitations and participate in underwriting and production presentations, ensuring that agent and customer concerns are resolved promptly.

Responsibilities

• Drive and manage a profitable and growing book of business.
• Sell, service, and maintain a producer force that can sell and control a profitable and growing book of business.
• Monitor production and quality of assigned producers.
• Drive profitable sale of the Company's products, including increasing sales of existing products and introducing new products as they are developed.
• Develop the assigned producer group to improve the quality and quantity of business obtained from assigned producers.
• Stay alert to industry changes, including WCIRB/NCCI rulings, forms, and coverage changes.
• Prospect and develop new business.
• Prequalify new producers to determine working relationships.
• Appoint new quality producers and set and monitor production expectations with each Agency.
• Gain thorough knowledge of the assigned geographic territory regarding production sources, competitor activity, and economic and demographic idiosyncrasies.
• Produce marketing research to identify opportunities for management, product enhancements, new distribution channels, and new geographic markets with growth potential.
• Utilize underwriting authority to effectively price Company's products.
• Accept or reject simple to slightly complex risks, evaluating all risk characteristics as compared to the average in its class and price for profit within Company Underwriting guidelines.
• Deliver superior customer service through collaborative relationships.
• Provide production support through producer visitations and participate in underwriting and production presentations.
• Maintain communication with customers through the use of Company technology.
• Communicate decisions and resolve agent/customer concerns promptly.
• Present Agency Management solutions to agency principals and ICW management team.
• Serve as the primary Company contact and representative with existing and prospective producers.

Requirements

• Bachelor's degree from a four-year college or university with a major or emphasis in Business, Accounting, Statistics, or related field or equivalent combination of education and experience.
• Minimum 1 year of related experience and/or training required.
• Current driver's license required.
• Demonstrated ability to service the Company's clients and maintain relationships with production sources.
• Ability to understand fundamental Underwriting concepts, practices, and procedures in area of specialization.
• Ability to read and interpret documents such as submissions, loss control reports, and standard policy form/endorsements.

Benefits

• Competitive benefits package including generous medical, dental, and vision plans.
• 401K retirement plans with company match.
• Bonus potential for all positions.
• Paid Time Off with an accrual rate of 5.23 hours per pay period (equal to 17 days per year).
• 10 paid holidays throughout the calendar year.
• Support for continued learning and development.