Chubb - New York, NY
posted 4 months ago
The Senior Underwriter's primary responsibility is to underwrite individual risks through a demonstration of various skills and abilities. This role requires a deep understanding of the fundamentals of coverage, terms, and conditions, enabling the underwriter to offer coverage that not only meets customer needs but also generates profit for the company. The Senior Underwriter must possess strong risk assessment capabilities, identifying risk exposures, special or common hazards, and appropriate controls. This includes the ability to select risks based on exposure and risk analysis, as well as analyzing claims and quantifying losses effectively. Financial proficiency is crucial in this role, as the Senior Underwriter must understand financial statements and ratios used in risk analysis. A solid grasp of insurance financial fundamentals and the impact of underwriting decisions on company assets is essential, along with an understanding of credit risk. Additionally, the underwriter should have a foundational knowledge of actuarial principles, including loss trends, loss triangles, and ratemaking, to quantify risk based on historical experience and forecasting methods. Marketing and communication skills are also vital, as the Senior Underwriter must be able to sell and negotiate effectively to achieve bottom-line profitability for the company. This includes making presentations and communicating articulately, with a focus on strategic thinking and managing producer strategy. Proficiency in using systems and software programs necessary for conducting daily business is also required. 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.