Large Account Underwriter/ Sr Large Accounts Underwriter (Hybrid)

$78,000 - $130,000/Yr

Selective Insurance Group - Newton, NJ

Full-time - Entry Level

Newton, NJ

251-500 employees

Insurance Carriers and Related Activities

About the position

At Selective, we don't just insure uniquely, we employ uniqueness. As a Large Account Underwriter/Sr Large Accounts Underwriter, you will play a crucial role in underwriting and processing large account renewal policies. This position requires you to gather, analyze, and evaluate risk exposure through appropriate risk documentation while applying your knowledge of coverage forms, rating plans, and guidelines in the selection and pricing of individual risks. You will ensure adequate pricing of individual risks through proper classification, accuracy of information, and adherence to company underwriting standards and philosophy. In this role, you will respond to agents' inquiries on coverage and adjust policy information based upon prescribed authority. You will work within a specified authority level to quote, accept, decline, modify, and renew risks within your account assignment in accordance with accepted underwriting guidelines. Collaboration is key, as you will partner with Large Account Specialists, Agents, team members, and other departments to grow and maintain a profitable book of business. Effective communication is essential, as you will need to convey underwriting decisions and appetite at both the individual account and portfolio level to internal and external customers. You will reinforce the ease of doing business with Selective by consistently meeting or exceeding customer expectations and service quality. Building and maintaining working relationships with internal and external customers, peers, and management is vital, and you will conduct agency and customer visits across a broad regional geography. Additionally, you will conduct continuous profit and growth analysis as assigned, monitor premium retention using electronic reporting tools, and increase renewal premium by cross-selling additional coverage, products, or value-added services. Participation in projects and initiatives, as well as ongoing learning related to underwriting, company products, and services, will also be part of your responsibilities. A valid license and the ability to drive an automobile to support company travel within your territory is required, although car travel represents less than 10% of your time.

Responsibilities

• Underwrite and process large account renewal policies with supervision and within a letter of authority from the Underwriting Manager.
• Gather, analyze, and evaluate risk exposure through appropriate risk documentation.
• Apply knowledge and understanding of coverage forms, rating plans, and guidelines in the selection and pricing of individual risks.
• Ensure adequate pricing of individual risks through proper classification, accuracy of information, and adherence to company underwriting standards and philosophy.
• Respond to agents' inquiries on coverage and adjust policy information based upon prescribed authority.
• Work within specified authority level to quote, accept, decline, modify, and renew risks within account assignment in accordance with accepted underwriting guidelines.
• Partner with Large Account Specialists, Agents, team members, and other departments to grow and maintain a profitable book of business.
• Effectively communicate underwriting decisions and appetite at the individual account and portfolio level to internal and external customers.
• Develop and maintain working relationships with internal and external customers, peers, and management.
• Conduct continuous profit and growth analysis as assigned.
• Monitor premium retention with the use of electronic reporting tools.
• Increase renewal premium by cross-selling additional coverage, products, or value-added services.
• Participate in projects and initiatives as assigned.
• Identify and participate in ongoing learning related to underwriting, company products, and services.

Requirements

• Demonstrated effective written and verbal communication skills.
• Possesses basic underwriting technical skills and knowledge of company products and underwriting guidelines.
• Ability to solve problems and make sound decisions.
• Ability to multi-task and manage workflows to meet production and service expectations.
• Ability to develop and establish effective relationships with internal and external customers/peers.
• Strong commitment to professional development through on-the-job learning, self-study, and training.
• Proficiency in use of all supplied desktop tools, including the automated underwriting and email systems.
• Must have valid state-issued driver's license in good standing.
• College degree preferred.
• Minimum of 1 year of commercial underwriting experience required.
• AU, AINS or other insurance coursework preferred.
• Highly proficient written and verbal communication skills (for Sr Level).
• Possesses extensive underwriting technical skills and broad knowledge of company products and underwriting guidelines (for Sr Level).
• Highly effective influencing and negotiation skills (for Sr Level).
• Ability to solve problems and make sound decisions based on diverse perspectives and effective use of data in a timely manner (for Sr Level).
• Effectively manages and executes on the appropriate balance between strategic thinking and attention to detail (for Sr Level).
• Demonstrated ability to contribute to project teams (for Sr Level).
• Ability to effectively coach and mentor others (for Sr Level).
• Highly effective ability to develop relationships with internal and external customers/peers (for Sr Level).
• Highly proficient in use of all supplied desktop tools, including the automated underwriting and email systems (for Sr Level).
• Must have valid state-issued driver's license in good standing (for Sr Level).
• College degree preferred (for Sr Level).
• Minimum of 3 years of commercial underwriting experience required (for Sr Level).
• Completion of INS; AU; or completion or pursuit of CIC; or CPCU strongly preferred (for Sr Level).

Nice-to-haves

• Completion of INS; AU; or completion or pursuit of CIC; or CPCU strongly preferred (for Sr Level).

Benefits

• Comprehensive health care plans.
• Retirement savings plan with company match.
• Discounted Employee Stock Purchase Program.
• Tuition assistance reimbursement and programs.
• Paid time off plans.