An exciting opportunity exists to join the ProAssurance family of companies!
We are a specialty writer of professional liability, products liability and workers' compensation insurance. With approximately 1000 employees operating in all 50 states, we are well positioned to offer career opportunities to individuals interested in professional growth.
The primary responsibility of the Production Standard Underwriter is to use underwriting authority to develop and build external relationships to write profitable new business and retain existing policyholders in an assigned territory and/or with assigned brokers. This underwriter will solicit, examine, accept and reject insurance risks based on underwriting guidelines in the standard underwriting segment. This role will follow the underwriting authority granted them by the Vice President or Assistant Vice President, Standard Underwriting. This position will classify and price acceptable accounts to meet underwriting profit goals and expense objectives; establish and build relationships with brokers and agents in an assigned territory; and monitor, analyze and report on the quantity and quality of assigned book of business.
Essential Duties and Responsibilities:
60% - Underwriting and Underwriting Profitability:
Underwrite new business submission and renewal accounts. Create terms and conditions for each applicant based on underwriting guidelines, filed rates and coverage forms. Work closely with and collaborate with colleagues in all disciplines including: Actuarial, Claims, and Risk. Adhere to Letter of Authority without exception. Will use advanced knowledge of pricing models and be proficient at working through the actuarial-underwriting nuances. Pursue new business opportunities while managing existing book of renewal business. Responsible for significant new business goals.
25% - Relationship and Distribution Management:
Expand new business opportunities in preferred classes of business through target accounts and brokers in the region. Arrange and conduct meetings with brokers/agents, and insureds/prospects to discuss terms and conditions, exposures, claims and related concerns. Participate in renewal and account stewardship meetings. Work in collaboration with other teams on cross-sell initiatives. Promote ProAssurance insurance products.
10% - Policy and Procedures, and Compliance:
Document files and ensure compliance and audit-worthiness. Participate in committee and department meetings.
5% - Innovation and Product Development:
Keeps educated on evolving risks and exposures. Engages others about ways to improve the service and/or products that we provide. Encourages others, at all levels, to offer ideas and take initiative to vet those ideas.
Bachelor's degree required with a preference for study in Insurance, Risk Management, Business Administration or other business related field.
Minimum of at least 5 years medical professional liability experience, preferably in underwriting.
Previous experience in a production underwriting role desired.
CPCU, AIC, RPLU, or ARM highly desired. Progress toward completion of one of these designations is required.
Understanding of insurance terminology, insurance and underwriting principles required.
Previous professional liability experience required.
Proficiency with Microsoft Office Suite.
Excellent organizational and interpersonal skills.
Self-motivated and able to accomplish multiple tasks within deadlines.
Excellent listening, speaking, writing and presentation skills. Ability to process information logically.
Strong analytical skills to interpret data and make sound decisions and present solutions.
Experience in a production underwriting role, with specific broker territory and assignments.
Proven self-starter with strong multi-tasking and relationship management skills.
Strong negotiation, marketing and sales skills.
Strong large account skills with advanced knowledge of actuarial tools and methods.
Able to review the work of others, provide feedback and approve other underwriters' quotations.
Meets work deadlines, excellent desk management skills.
Solid knowledge of rating and documentation management and workflow systems.
Able to create, build and develop superior relationships with agencies and internal colleagues.