Underwriter-IM

$62,500 - $103,100/Yr

Travelers - Hartford, CT

Full-time - Mid Level

Hartford, CT

Insurance Carriers and Related Activities

About the position

The Travelers Companies, Inc. is seeking a Wholesale/E&S Commercial Lines Underwriter to join InsuraMatch, a national independent agency owned by Travelers Insurance. This new business division focuses on commercial lines with an Excess and Surplus lines emphasis, which is a key strategy for diversifying business operations and advancing strategic objectives. The Underwriter will work closely with appointed Travelers Retail Agents to evaluate individual commercial lines risk applications, ensuring underwriting acceptability and making pricing determinations. The role is crucial in managing portfolio profitability while providing new and renewal products tailored to client needs. As an Underwriter, you will play a vital role in managing the overall risk portfolio and profitability of the Wholesaler's business. This involves a rigorous evaluation of individual risk and pricing elements for all new, renewal, and endorsement business submissions. You will assess new and renewal submissions from Retail Agents to determine underwriting and pricing attributes that align with company guidelines and industry best practices. A comprehensive understanding of state-by-state underwriting strategies and regulatory requirements is essential. Your responsibilities will include evaluating individual submissions for completeness, requesting additional documentation as necessary, applying appropriate terms and conditions, and documenting the rationale behind underwriting and pricing decisions. Engaging with agents to close transactions, coaching and guiding others, and forming a holistic view of each account by integrating publicly available data with submitted documentation will be key aspects of your role. You will also prepare premium quotations for new and renewal business risk submissions and promptly address inquiries from agents, policyholders, or prospects. Other duties may be assigned as needed.

Responsibilities

• Evaluate new and renewal submissions from Retail Agents to determine underwriting and pricing attributes permitted within company guidelines.
• Develop a comprehensive understanding of state-by-state underwriting strategies and regulatory requirements.
• Evaluate individual submissions for completeness and request additional documentation necessary for evaluation and processing.
• Apply appropriate terms and conditions and document underwriting and pricing decision rationale.
• Engage with agents to close individual transactions.
• Coach and guide others as needed.
• Form a holistic view of each account and its risk and profitability prospects by integrating publicly available data with submitted documentation.
• Prepare premium quotations for new and renewal business risk submissions.
• Promptly address inquiries from agents, policyholders, or prospects.
• Perform other duties as assigned.

Requirements

• 2 years of Insurance, Underwriting, MGA or program business experience.
• Comprehensive knowledge of Commercial Lines insurance coverage forms and their application.
• Working knowledge of applicable Insurance Department regulations and policies.
• Must have a valid Producer's License in home state.

Nice-to-haves

• 5 plus years of Commercial Line Underwriting Experience.
• Insurance Industry designations are preferred.

Benefits

• Health Insurance: Coverage for employees and eligible family members from the first day of employment.
• 401(k) matching: Travelers matches your contributions dollar-for-dollar up to your first 5% of eligible pay.
• Pension Plan: 100% funded by Travelers.
• Paid Time Off: Minimum of 20 days annually plus nine paid company holidays.
• Wellness Program: Tools, discounts, and resources to achieve wellness goals, including mental health support.
• Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable contributions.