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Underwriting Manager
Location:
NJ - Florham Park
Apply nowGeneral Description: Manage a team of insurance underwriters. Assess large risks of a complex nature. Oversight of underwriters to develop and negotiate premiums. Manage relationships with brokers and carriers. Provide appropriate insurance products to clients. Generate profit in accordance with company goals.
Responsibilities:
- Accountable for full-cycle recruitment, management, and development of assigned team. Includes providing guidance, training, and performance management.
- Identify, plan, and resolve routine department coverage and workload issues.
- Underwrite and analyze new and renewal accounts for the most complex assignments.
- Serve as a subject matter expertise to review insurance policy.
- Assess the risk to determine the appropriate price, coverage, and terms and conditions. Bring policy to completion with recommending and binding coverage, invoicing, and policy issuance.
- Identify the need, order, and evaluate additional risk assessment information.
- Underwrite within defined broad limits and authority.
- Establish underwriting policy and procedures.
- Develop and maintain working relationships with agencies. Communicate effectively through broker negotiations to ensure new business flow and profitable production.
- Communicate with agents to obtain supplemental underwriting information.
- Analyze and rate endorsement requests.
- Recommend authority levels for underwriting staff and amendments/enhancements to applicable program. Includes coverage, policy forms, premium rate plans and underwriting guidelines, loss control guidelines, and distribution.
- Collaborate with internal departments to execute agreed program strategy and identification of program opportunities.
- Engage in professional development. Includes relevant industry and organizational education and training.
- Require travel for client relationship building, key client/carrier meetings, educational development, and employee meetings.
Knowledge, Skills and Abilities:
- 7+ years of underwriting experience. Includes 2+ years of supervisory experience.
- High school diploma or equivalent required.
- For direct client service/underwriting, Property & Casualty and/or appropriate business licensure is required.
- Ability to manage a team effectively.
- Broad and deep knowledge of insurance industry market and appetite.
- Ability to establish product risk factors including proper risk exposure and compliance with state departments of insurance.
- Ability to effectively identify insurance product needs in the marketplace.
- Ability to negotiate and strong mathematical skills.
- Strong written, verbal, and interpersonal communication skills.
- Working knowledge of Microsoft Office suite of products.
- Proficiency in utilizing company systems.
- Strong organizational and analytical skills with attention to detail and accuracy.
- Ability to travel 25% of the time.
Physical Demands:
Work is performed in a climate-controlled office environment with minimal noise and limited to no exposure to chemicals or toxins. Employees operate office equipment including telephone - headset, computer, computer monitors, keyboard, mouse, copier, scanner, and mail machine. Physical tasks of job include walking, sitting, standing, bending, and typing.
Analysis of Physical Demands:
- Constantly (over 66% of time) work performed requires employees to use repetitive hand motions such as typing, using a keyboard, and sitting at a desk.
- Frequently (34%-66% of time) work performed requires employees to handle and grasp things, walk on normal surfaces, stand, and bend.
- Occasionally (1%-33% of time) work performed requires employees to drive to client appointments, have repetitive foot movements, walk on uneven or slippery surfaces to and from work and occasionally reach outward to grab things and bend.
- Rarely (< than 1 hour per week) work performed requires lifting/carrying items that range from 10-50lbs, pushing/pulling items that range from 10-50lbs, twisting/turning including reaching over shoulder or above head, kneeling or squatting.
USI is committed to providing a full-suite of competitive benefits for our growing population and its diverse needs. We offer a wide range of health, welfare and financial benefits including medical, wellness, dental and vision, 401(k), flexible spending and health savings accounts, short and long-term disability, life insurance and other unique employer-sponsored and voluntary programs. USI also offers a generous paid time off policy, paid family leave benefit as well as paid holiday time.
Job ID:
30141