Underwriter Trainee, Commercial Lines Insurance

About the position

The Underwriter Trainee position at Encova Insurance is designed for individuals looking to build their knowledge and skills in underwriting. This entry-level role involves comprehensive training and mentorship from experienced professionals, focusing on managing existing and prospective commercial lines accounts. The trainee will learn to assess risks, analyze financial requirements, and collaborate with underwriters to ensure compliance with company guidelines.

Responsibilities

• Successfully complete assigned commercial lines trainee program modules.
• Review coverage applications and financial requirements for risks, and work with experienced underwriter(s) to determine acceptability of risk in accordance with company guidelines and standards.
• Complete thorough risk analysis on designated accounts using appropriate Encova, NCCI, ISO, and state applicable industry rules, policies, procedures, guidelines, etc.
• Review pricing based on financial, competitive, and risk analysis, and work with underwriters to determine appropriate pricing.
• Review and confirm proper classification.
• Present quotes and answer questions from agencies, policyholders or other external contacts and present issues to management as necessary.
• Review loss control reports and follow up on outstanding recommendations.
• Notify agencies of underwriting decisions, rate appeal decisions, underwriting requirements, status and declinations.
• Stay apprised of applicable state laws, guidelines, and regulations, industry activity and trends as appropriate.
• Effectively utilize industry rules and guidance to ensure proper policy construction.
• Manage existing and prospective accounts by actively participating in account renewals, new business presentations and discussions with agents.
• Clarify policy wording for agents.
• Apply knowledge of rating plans, employer financial standing and credit risk, employer accident experience, rules and underwriting standards to effectively handle inquiries.

Requirements

• Bachelor's degree from an accredited college or university is preferred (business administration, finance, economics, insurance, accounting, risk management, engineering, actuarial science or other business-related areas strongly preferred).
• Demonstrated professional or insurance experience may substitute for educational requirements.
• Working knowledge of technology applications and ability to support business functions.
• Solid communication and presentation skills.
• Ability to interact in a team environment and to collaborate with other business units for information gathering, reporting results, training, etc.
• Critical thinking: Ability to assess an individual situation and select applicable alternatives from an array of options, resulting in the most appropriate and sustainable decision.
• Strong organizational skills, including the ability to manage multiple projects and work with minimal direction.
• Excellent analytical, research and writing skills.
• Ability to adjust priorities based on changing situations.
• Ability to apply confidentiality when appropriate.
• Ability to recognize and analyze problems and develop timely solutions.
• Ability to establish and maintain effective working relationships with others to achieve objectives.
• Ability to solve practical problems and to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
• Ability to exhibit impartiality and openness to the views of others.
• Proficient in Excel.

Benefits

• 401(k)
• wellness programs
• bonus incentive plans
• flexible schedules
• early close of the office every Friday