Chubb - New York, NY
posted 5 months ago
The Senior Underwriter's primary responsibility is to underwrite individual risks through a demonstration of the following skills and abilities: a solid understanding of the fundamentals of coverage, terms, and conditions, with the ability to offer coverage that generates profit for the company while meeting customer needs. The role requires a keen ability to assess risk, identifying exposures, special or common hazards, and appropriate controls. The underwriter must select risks based on exposure and risk analysis, as well as analyze claims and quantify losses effectively. Financial proficiency is crucial, as the underwriter must understand financial statements and ratios used in risk analysis, along with the impact of underwriting decisions on company assets. A grasp of credit risk is also necessary. Additionally, the underwriter should possess actuarial fundamentals, being able to understand loss trends, loss triangles, and ratemaking, and quantify risk based on historical experience and forecasting methods. Marketing and communication skills are essential for this role, as the underwriter must sell and negotiate to achieve profitability for the company. This includes making presentations and communicating articulately, with a strategic approach to managing producer strategy. Proficiency in systems and programs is also required, as the underwriter will need to use various software programs to conduct daily business operations. The major duties and responsibilities of the Senior Underwriter include soliciting new and renewal submissions from brokers and agents, determining terms and conditions along with complex rating plans, binding coverage, documenting underwriting files, and handling more complex files and portfolios within their underwriting authority.