RLI Corp. - Bala Cynwyd, PA

posted 5 months ago

Full-time - Entry Level
Hybrid - Bala Cynwyd, PA
Insurance Carriers and Related Activities

About the position

As an Underwriter for Design Professionals at RLI, you will play a crucial role in underwriting new or renewal individual accounts under frequent supervision. Your primary responsibility will be to build and maintain relationships with producers, reinsurers, and other contacts while reviewing complex submissions, account losses, pricing models, and ensuring profitable premiums. You will analyze and evaluate submissions, making decisions to accept, decline, rate, quote, and bind new or renewal submissions that carry high premium or risk exposure. This position requires a keen understanding of the insurance market and the ability to select appropriate risks to maximize profitability. In addition to underwriting responsibilities, you will assist in the approval, issuance, or change requests for policies, ensuring that all processes are followed accurately. You will also be involved in special projects or other duties as needed, contributing to the overall success of the underwriting department. Your analytical skills will be essential as you prepare, review, and complete underwriting analyses of accounts, ensuring that all findings are well-documented and communicated effectively to both internal and external stakeholders. RLI is committed to fostering a culture of personal and professional growth, encouraging employees to pursue educational opportunities that enhance their skills and advance their careers. You will have access to training and certification opportunities, tuition reimbursement, and education bonuses, all aimed at supporting your development in the insurance field.

Responsibilities

  • Analyze, evaluate, accept, decline, rate, quote, and bind new or renewal submissions with high premium or risk exposure.
  • Build relationships between agents, reinsurers, and contacts.
  • Review simple to moderately complex submissions, account losses, pricing models, and profitable premiums.
  • Review sources of profit by selecting appropriate risks.
  • Assist in the approval, issuance, or change requests for policies.
  • Assist with special projects or other duties as needed.

Requirements

  • Typically requires a bachelor's degree in insurance, finance, risk management, business or a related field.
  • Minimum of 1+ years of related experience for consideration or equivalent level of education and experience.
  • Ability to use analytical methods in underwriting processes to find workable solutions.
  • Ability to verbally and in writing, communicate findings and recommendations to internal and external contacts on underwriting matters.
  • Ability to use software to summarize and analyze large amounts of data.
  • Understands, applies, & properly documents nature of operations of the risk for accounts assigned & communicates findings.
  • Ability to prepare, review, and complete underwriting analysis of accounts.
  • Analytical skills and understanding of submission requirements, model entry, and product appetite.
  • Participates in underwriting related continuing education.
  • Ability to generate innovative solutions within the underwriting department.

Nice-to-haves

  • Has typically obtained letter of authority.
  • Has a good understanding of the markets and clients being serviced.
  • Has some authority to process approval, issuance, or change requests for policies.

Benefits

  • Employee stock ownership plan (ESOP)
  • 401(k) — automatic 3% company contribution
  • Annual discretionary 401k and ESOP profit-sharing contribution (up to 15% of base salary)
  • Annual bonus plans
  • Paid time off (PTO) and holidays
  • Paid volunteer time off (VTO) to support our communities
  • Parental and family care leave
  • Flexible & hybrid work arrangements
  • Fitness center discounts and free virtual fitness platform
  • Employee assistance program
  • Comprehensive medical, dental and vision benefits
  • Flexible spending and health savings accounts
  • 2x Base Salary for Group Life and AD&D insurance
  • Voluntary life insurance for purchase
  • Critical Illness & Accident insurance
  • Short-term and long-term disability benefits
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