Contract Surety Underwriting Specialist

Cna - San Antonio, TX

Full-time - Mid Level

San Antonio, TX

Professional, Scientific, and Technical Services

About the position

Under technical direction, the Underwriter is responsible for underwriting risks in a Surety book of business. This role operates within specific limits of authority on assignments that require significant technical complexity and coordination. The Underwriter utilizes underwriting policies and guidelines, rating manual rules, and adheres to insurance laws and regulations. The position involves a combination of duties in accordance with departmental guidelines, including reviewing applications and financial requirements for risks that necessitate complex underwriting skills. The Underwriter determines the acceptability of risk in accordance with company guidelines and standards, assesses the need for additional evidence of insurability, and formulates appropriate strategies. In addition, the Underwriter is responsible for determining appropriate pricing based on financial and competitive analysis while ensuring compliance with requirements. This includes preparing quotes, addressing inquiries from agencies, policyholders, or other external contacts, and escalating issues to management along with proposed solutions as necessary. The role also involves negotiating with agents to achieve positive and profitable outcomes, notifying agencies of adverse underwriting decisions, rate appeals, underwriting requirements, status updates, and declinations. The Underwriter analyzes the quality, quantity, and profitability of the risks underwritten and prepares reports for management review. Marketing products and services through agencies or the brokerage community is also a key responsibility, which may include making field visits. The Underwriter develops and maintains relationships with agencies and/or brokers and may provide guidance and assistance to other underwriters and functional areas, particularly regarding cross-sell opportunities. Staying current on state/territory issues and regulations, industry activity, and trends is essential, and the Underwriter is expected to share this information freely with others. The role requires utilizing advanced functionality in relevant CNA systems to perform day-to-day activities and collaborating with more senior underwriters or management on risks that exceed authority levels or require special handling.

Responsibilities

• Review applications and financial requirements for risks requiring complex underwriting skills.
• Determine acceptability of risk in accordance with company guidelines and standards.
• Assess the need for additional evidence of insurability and develop appropriate strategies.
• Determine appropriate pricing based on financial and competitive analysis in line with compliance requirements.
• Prepare quotes and respond to inquiries from agencies, policyholders, or other external contacts.
• Negotiate with agents to achieve positive and profitable outcomes.
• Notify agencies of adverse underwriting decisions, rate appeals, underwriting requirements, status updates, and declinations.
• Analyze quality, quantity, and profitability of risks underwritten and prepare reports for management review.
• Market products and services through agencies or the brokerage community and conduct field visits.
• Develop and maintain agency and/or broker relationships.
• Provide guidance and assistance to other underwriters and functional areas, particularly regarding cross-sell opportunities.
• Stay current on state/territory issues and regulations, industry activity, and trends, sharing information with others.
• Utilize advanced functionality in relevant CNA systems for day-to-day activities.
• Collaborate with senior underwriters or management on risks exceeding authority level or requiring special handling.

Requirements

• Bachelor's degree or equivalent experience.
• Typically a minimum of three to five years underwriting experience.
• Advanced knowledge of underwriting and insurance industry theories and practices.
• Demonstrated high level of technical expertise and product-specific knowledge.
• Strong interpersonal, communication, and negotiation skills.
• Ability to effectively interact with all levels of CNA's internal and external business partners.
• Ability to work independently.
• Strong analytical and problem-solving skills.
• Ability to exercise independent judgment and make critical business decisions effectively.
• Knowledge of Microsoft Office Suite and other business-related software.
• Demonstrated leadership skills.

Nice-to-haves

• Professional designations preferred.

Benefits

• Comprehensive and competitive benefits package to support physical, financial, emotional, and social wellbeing goals.