Reinsurance Underwriter Trainee
About The Position
UFG is looking for a Reinsurance Underwriting Trainee to join the team. In this role you will learn the fundamentals of reinsurance underwriting and will be responsible for learning reinsurance structures, buying objectives, pricing, and accounting. Instruction will be provided on the job by senior underwriting team members and cross-departmental professionals. The trainee will gain an understanding of the strategic objectives of the business unit and contribute to the acquisition of a profitable portfolio of domestic & non-U.S. reinsurance contracts. The trainee will participate in the analysis of treaty submissions and determination of their acceptability within framework of UFG underwriting policies and strategy. Qualified candidates must be open to working 4 days in office each week in Cedar Rapids, Iowa.
Requirements
- Education: Bachelor’s degree, or combination of education and reinsurance experience.
- 1+ years of professional work experience preferred.
- Strong mathematical reasoning and analytical thinking and nimble learning skills.
- The ability to self-plan and prioritize.
- Demonstrated professionalism and ability to collaborate.
- Knowledge of MSOffice systems to include Outlook, Excel (pivot tables), and Word.
- Understanding of financial terms preferred.
- Strong business knowledge and acumen.
Nice To Haves
- Bachelor’s degree in business administration, economics, finance or accounting preferred.
- Risk Management Certificate preferred
Responsibilities
- Gain an understanding and develop analytical skills on how to investigate, analyze differences in terms across new or renewal submissions and year-over-year changes.
- Prepare treaty experience and exposure analysis for input in the underwriting decision process.
- Participate in the drafting of referral memos.
- Assist underwriters in the management of their books of business, including input of treaty underwriting and pricing details in the Assumed Reinsurance Contract Management System.
- Participate in remote client meetings.
- Underwrite submissions with assistance from mentors and learn to make underwriting recommendations.
Benefits
- Annual incentive compensation
- Medical, dental, vision & life insurance
- Accident, critical Illness & short-term disability insurance
- Retirement plans with employer contributions
- Generous time-off program
- Programs designed to support the employee well-being and financial security.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Number of Employees
1,001-5,000 employees
