Underwriter, Cyber

Tokio Marine Hcc - Chicago, IL

Full-time

Chicago, IL

Insurance Carriers and Related Activities

About the position

As a Cyber Underwriter at Tokio Marine HCC, you will play a crucial role in a market-facing production underwriting position within a close-knit team of highly motivated professionals. Your primary responsibility will be to review insurance applications, evaluating, classifying, and rating each risk to determine its acceptability, coverage, and pricing. This role requires you to establish, maintain, and develop relationships with agencies and brokers, ensuring effective communication and collaboration throughout the underwriting process. You will operate under defined underwriting authority and have business development responsibilities, contributing to the growth and success of the organization. In this position, you will evaluate both new and renewal policy applications, assessing related documents to classify and determine the acceptability of each risk. You will assign ratings, indicate endorsements and limits, and determine appropriate pricing for the policies. Timely communication is essential, as you will be expected to respond to verbal and written inquiries from brokers, providing them with the necessary information and serving as a reliable underwriting resource. Documentation is a key aspect of this role; you will create and maintain all necessary documentation, including new and renewal bound files, underwriting worksheets, and records of phone conversations, adhering to departmental guidelines. Compliance with company underwriting authority directives and policies is critical, as you will have the authority to approve or deny applications within your given limits or recommend actions to higher authorities. Building and cultivating relationships with both internal and external contacts will be vital to facilitate the underwriting process and promote business development. You will also stay informed about industry trends and changes, ensuring that you can proactively respond to the evolving business environment. Additionally, you will serve as a resource for other departmental staff regarding underwriting procedures and guidelines, contributing to a collaborative and knowledgeable team atmosphere.

Responsibilities

• Evaluate new and renewal policy applications and related documents to classify and assess each risk.
• Determine acceptability, assign ratings, indicate endorsements and limits, and determine appropriate pricing.
• Contact and respond to verbal and written inquiries from brokers within a designated timeframe.
• Create and maintain all documentation including new and renewal bound files, underwriting worksheets, and documentation of phone conversations.
• Adhere to all company underwriting authority directives, underwriting guidelines, and other applicable company policies and procedures.
• Approve or deny applications within given authority or recommend approval or denial to a higher authority.
• Cultivate relationships with internal and external contacts to facilitate the underwriting process and promote business development.
• Serve as a resource to other departmental staff regarding underwriting procedures and guidelines.

Requirements

• Bachelor's degree (4-year BA/BS) is required.
• Minimum of two years of relevant and progressive experience in Cyber Underwriting.
• Experience with Microsoft suite of products is necessary.
• Knowledge of principles, practices, and procedures related to underwriting is essential.
• Familiarity with industry changes, legal updates, and technical developments related to the company's business is required.
• Solid written and verbal communication skills with an emphasis on confidentiality, tact, and diplomacy are necessary.
• Advanced organizational and analytical skills with the ability to manage multiple tasks simultaneously are required.
• Intermediate proficiency in Microsoft Office Package (Excel, Access, PowerPoint, Word) is needed.

Nice-to-haves

• 1-3 years of relevant and progressive cyber and professional liability experience preferred.
• Experience with retailers in Cyber Underwriting is strongly preferred.

Benefits

• Competitive salary and employee benefits package.