Combined Insurance Senior Underwriter in United States
We are the world’s largest publicly traded property and casualty insurer with operations in 54 countries, exceptional financial strength, and a broad range of personal and commercial insurance products. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. We combine the precision of craftsmanship with decades of experience to conceive our craft and deliver the very best insurance coverage and service to individuals and families, and businesses of all sizes. Chubb’s insurance businesses in North America serve clients ranging from the largest multinationals, mid-size companies and small businesses to high net worth individuals, middle-income consumers and farmers and ranchers.
Who We Are
We are a unique global organization with a culture of individuals passionately committed to our respective crafts. With underwriting at our core, each of us contributes to providing the best insurance coverage and service to our clients. Working together, we are one Chubb. Our highly collaborative, inclusive nature helps us drive better business outcomes through diversity of background, experiences, insights and values. We approach problems with a can-do attitude and are committed to developing deep relationships — all while moving quickly to meet client needs.
The Senior Underwriter’s primary responsibility is to underwrite individual risks through a demonstration of the following skills and abilities:
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 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:
Duties may include but are not limited to:
Solicits new and renewal submissions from brokers
Determines terms and conditions and complex rating plans
Documents the underwriting files
Handles more complex files and portfolios within underwriting authority
Guides and mentors junior staff.
Specific Responsibilities include:
• Underwrite new and renewal accident and health business
Achieves profitable growth through effective use of underwriting and business skills in assigned territory
Work on regional renewals. See that renewal underwriting is started at least 60/90 days prior to anniversary date and ensure management through completion.
• Maintain performance standards and meet satisfactory quote turnaround times
Selects new risks based on established company/departmental guidelines and within delegated authority
• Coordinate compliance issues and review of marketing materials and brochures with compliance department
• Provide communication and direction for all processing requirements, including policy issuance and endorsements, premium registration and collection issues.
• Work as a partner with Business Development team to generate new business revenues by developing prospects, visiting producers, participating in presentations
• Partner with Business Development Team to foster a constructive working relationship with all internal partners (regional operations, compliance, marketing, policy issuance, sales and claims) through day to day contact
• Collaborate with Business Development Team to prepare budgets, business plans, marketing strategies and establishing long term goals.
• Provide backup and rationale for items reported on the Large Case Activity Report.
• Manage portfolio of business to ensure monthly/quarterly/annual goals are met. Provide weekly updates of monthly registration.
• Follow underwriting guidelines for pricing, risk selection and net Retention
• Loss frequency analysis; identify, analyze and provide plan for corrective action as necessary.
• Actively participate in regional operations forums including National Segment Leader and Commercial Segment Leader meetings.
• Assist Regional Management in the preparation of budgets, business plans, marketing strategy and establishing long term goals.
• College degree in business related field
• Four to six years of Accident & Health underwriting experience with the ability to demonstrate leadership, initiative and influence management skills.
• Product focus includes Business Travel Accident, Out of Country Medical, Basic AD&D, Voluntary AD&D and Participant Accident.
• Proven ability to provide direction, technical guidance and developmental opportunities to promote team excellence and achieve business goals.
• Excellent interpersonal and communication skills
• Self-motivated with a strong sense of responsibility for one’s actions and work product
• Proven analytical ability to evaluate and judge underwriting risks.
• Excellent communication, organization and negotiation skills.
• Ability to work within a dynamic and challenging environment – handle multiple priorities - often under tight deadlines.
• Ability to adapt effectively with varying market conditions, responsibilities and people in a changing environment.
• Travel within region and to home office as needed.
• Proficient in Microsoft Office (Excel, Word, Access).
Title: Senior Underwriter
Requisition ID: 321833