The Underwriting Specialist within Arch Construction is responsible for the technical underwriting and account management of Middle Market construction casualty programs.
Responsibilities
1. Technical Underwriting
Solicits and reviews new and renewal account information required to evaluate a risk.
Identifies all potential exposures and hazards in relation to coverage requested and individual risk characteristics.
Assesses insurance and related financial risk and structures appropriate loss sensitive program to effectively protect against frequency, severity, catastrophic and credit risk.
Engage other internal resources as necessary.
Underwrites prices and prepares proposals based on objective and subject risk characteristics, input of internal resource team, existing product set and regulatory filings.
Prepares final quotation/proposal and presents to producer and/or prospective insured.
Coordinates all administrative duties related to existing and prospective accounts.
2. Account Management
Quarterbacks all post bind activities including policy production, compliance issues, audits and adjustments, legal agreements, receipt of collateral, legal agreement execution, TPA coordination and any other related items.
Together with internal team members, takes responsibility to deliver promised service to customers.
Responsible for the renewal and retention management and manages the renewal process to achieve targeted retention and price change goals.
Initiates, coordinates and conducts a mid-term account review.
3. Sales and Marketing
Develops and maintains relationships with producers and insured’s to achieve overall productions and profitability goals.
Meets with producers and insured’s to discuss individual account issues, uncover critical customer needs and financial buying characteristics.
Develops a strategic plan for positioning and selling Arch at both the producer and the insured level.
Engages and introduces other team members or management team as appropriate.
Develops and maintains relationships with producers to generate a flow of qualified submissions.
4. Administrative
Responsible for all underwriting and policy file documentation.
Completes ad hoc projects as assigned by management personnel.
Qualifications
Understanding and knowledge of the intent, scope and purpose of the Workers Compensation, General Liability, Automobile coverage forms and endorsements with the ability to tailor to the sold program design.
Possess a thorough understanding of all loss sensitive programs including products, pricing, expensing, actuarial loss projecting techniques, retention and aggregate setting, limit profiles, ALAE, and effective utilization of facultative reinsurance.
Understanding and knowledge of exposure identification and analysis.
Possess a cross functional generalist knowledge of other disciplines including claims, risk control, audit, premium accounting, finance and legal.
Knowledge of regulatory and compliance issues.
Knowledge of Arch’s product set
Excellent communication skills – written, verbal and presentation.
Sales and Negotiation skills
Be able to provide leadership and support to other team members.
Ability to perform multiple tasks simultaneously
Have the ability to influence without authority and be willing to work in a collaborative and team environment.
Required Experience
Five (5) plus years of underwriting experience and/or 10 plus years’ experience in the construction industry and/or insurance industry.
Established broker relationships within the region would be ideal.
