Combined Insurance Underwriter - Financial Institutions in United States
Currently, Chubb is seeking a Financial Institutions Underwriter for our Chicago office. The ideal Underwriter will have experience handling financial lines products for large public and/or private companies and/or financial institutions. This position is salary grade flexible based on the successful candidate's experience.
Responsible for profitable growth of a large, complex book of FI business. The Underwriter will handle new and renewal business, maintain and develop broker/agent relations and collaborate with Chubb retail branches for purposes of business and market development. This position is based in the Chicago Branch.
Major Job Functions:
• Utilizes appropriate skills and tools to underwrite large, complex new and renewal business in banking, asset management and insurance company segments. Conducts in-depth underwriting analysis and determines best course of action on a risk specific basis.
• Maintains underwriting quality standards. Includes appropriate file documentation relating to final underwriting decision.
• Serves as the point person for managing assigned key account relationships and expectations. Maintains a high level of visibility through proactive account management, communication and visitation.
• Develops and executes effective strategies to generate profitable FI business growth. Collaborates with branch, peers and management on new business and retention opportunities.
• Analyzes opportunities and creates business development strategies for assigned book of business. Prospects for new business, drives account rounding and identifies cross-selling and alliance opportunities.
• Supports and collaborates on branch sales and marketing initiatives, assisting with new product launches and local marketing campaigns.
• Supports and collaborates on branch agency management activities, including agency analysis, planning, goal setting, education and market engagement.
• Collaborates with branches to educate agents on products, services, as well as underwriting strategies and product marketing. Develops and/or participates in agent education events including CE courses and product fairs.
• Manages assigned broker/agency relationships and expectations. Leads and/or participates in agency analysis and planning. Develops and executes an effective agency strategy to grow the business.
• Gathers pertinent competitive information to assist in product development recommendations.
• Underwriting Acumen: Demonstrates deep technical knowledge of Financial Lines products (E&O, D&O, financial fidelity, EPL, fiduciary, K&R), competitors and marketplace. Exhibits rigor and expertise in underwriting large, complex FI risks in banking, asset management and insurance company segments.
• Account Management: Demonstrated ability to build strong key account relationships and manage customer expectations in changing market conditions. Proven track record promoting business retention and profitable growth.
• Deal-Making and Negotiation: Proven ability to find creative solutions that insured and producer needs while adhering to company/ Financial Lines underwriting strategies.
• Sales and Marketing: Working knowledge of Financial Lines products and marketplace. Demonstrated ability to market and sell Chubb’s differentiated, value added coverage and service advantages. Proven prospecting skills and effective use of sales and marketing tools.
• Agency Management: Ability to build strong agency relationships and manage expectations under dynamic market conditions.
• Collaboration: Ability to work collaboratively with multiple internal stakeholders. Demonstrates effective consultation and partnership skills.
• Communication: Demonstrated ability to manage communication and awareness effectively between various parties of interest, including brokers/agents, Branches, Product Managers and Business / Territory Managers.
• 4 year college degree or equivalent work experience.
• Requisite complex business underwriting experience varies by level.
Title: Underwriter - Financial Institutions
Requisition ID: 317086