Senior Underwriter, Westchester Financial Institutions at Chubb

Posted in Insurance 11 days ago.

Type: Full-Time
Location: Chicago, Illinois





Job Description:

Chubb is the world’s largest publicly traded property and casualty insurer.  With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.

KEY OBJECTIVE: Under limited supervision, primary responsibility is to underwrite individual financial instituion professional lines risks.

SCOPE:

Fundamentals of coverage, terms and conditions. Ability to offer coverage, terms and conditions which generate a profit for the Company while meeting the needs of the customer.



Risk Assessment. Ability to identify wholesale professional lines risk exposures, special or common hazards, and appropriate controls. Ability to select risk based on exposure and risk analysis. Ability to analyze claims and quantify losses.



Financial proficiency. Understanding of financial statements and ratios used in risk analysis. Understanding of insurance financial fundamentals; impact of underwriting decisions on company assets. Ability to understand credit risk.



Actuarial fundamentals. Ability to understand loss trends, loss triangles, and ratemaking. Ability to quantify risk based on experience history and forecasting methods.



Marketing and Communications. Ability to sell and negotiate to achieve bottom line profitability for the Company. Ability to make presentations and communicate articulately. Ability to base communications on strategic thinking. Ability to manage producer strategy.



Systems and programs. Ability to use systems and software programs needed to conduct daily business.

 

MAJOR DUTIES & RESPONSIBILITIES:

a. Solicits new and renewal submissions from brokers

b. Determines terms and conditions and complex rating plans

c. Binds coverage

d. Documents the underwriting files

e. Handles more complex files and portfolios within underwriting authority

f. Guides and mentors junior staff

This role will require:

• Minimum of 3 Years Underwriting Experience

• Experience in underwriting management liability, financial institutions, D&O, E&O and other financial lines products is preferred

• Business Acumen

• Good Level of Product Knowledge including:

o Exposure Analysis

o Form & Coverages

o Rating Principles and Mechanics

• Negotiation & Presentation Skills

• Proven Broker Relations & Customer Management skill set

• Strong Verbal and Written Communication Skill

· Strong organizational skills with attention to detail

· Ability to work effectively in a team

• Basic Proficiency in Microsoft Word, Excel, Power Point

 

Chubb strives to offer a diverse and inclusive and rewarding work environment.  Teamwork and mutual respect are central to how Chubb operates and we believe the best solutions draw upon diverse perspectives, experiences and skills.  We operate in such a way where everyone, regardless of their singular background has the opportunity to contribute to our collective success.