About the position
Middle Market underwriters focus on answering two fundamental questions. Should we write a policy for a particular customer? What is a fair price for the risk we would incur by writing the policy? On the surface, these questions may seem straightforward. Still, as a Liberty Mutual Insurance underwriter, you will have a curiosity that propels you to dig deeper for the answers. You will rely on your strong analytic, communication, and negotiation skills and thrive in a fast-paced, collaborative environment. Middle Market Underwriters are natural problem solvers who want to know our customers and how we can profitably accept the risks that our policies cover. As a Middle Markets Senior Underwriter, you will be responsible for developing, growing, and maintaining a profitable, diversified book of business through marketing, underwriting decision-making, building mutually beneficial agent/broker relationships and establishing a marker-facing leadership presence, and application of underwriting tools, systems, and expert resources. Guides/mentors less experienced underwriters in their respective areas of expertise, including regular employee coaching with feedback to the manager on the employee's progress. This is a hybrid office role and will require in office 2 days a week if you reside within 50 miles of a Global Risk Solutions (GRS) office.
Responsibilities
- Risk Selection: Reviews, rates, underwrites, evaluates, or assesses the business applying for insurance by qualifying accounts, identifying, selecting and assessing risks, determining the premium, policy terms and conditions, obtaining approvals, creating/presenting the proposal to the agent/broker, and successfully negotiating deals.
- Proven analytical ability to evaluate and judge underwriting risks within scope of responsibility that includes competence with all phases and aspects of the underwriting process, and proficiency in the use of qualitative and quantitative tools and techniques.
- Must demonstrate comprehension of complex technical underwriting issues and be capable of defining and implementing necessary underwriting and administrative processes/workflows to properly manage or administer those issues.
- Agent/Broker Relationships: Demonstrates a high level of responsiveness and focus on supporting Agents' and Brokers' objectives.
- Establishes, develops, and maintains successful relationships with Agents and Brokers to facilitate the marketing of products through responsive service, site visits, in-person renewal meetings, or enhanced knowledge of their customers' businesses.
- Develop a strong personal brand to build and maintain a long-term quality pipeline with Agents/Brokers.
- Portfolio Management: Manages a book of business by analyzing the portfolio, identifying areas of opportunity for improved growth, profit, and diversification, and executing marketing plans to increase market share by attending and making marketing calls to brokers to market and cross-market.
- Documenting the Deal: Document files in a way that reflects a solid thought process and decision-making through comprehensive account reviews, sign-offs, and referrals that comply with state regulations, letters of authority, and underwriting guidelines.
- Leadership: Formally and informally guides, mentors, and coaches underwriters and account analysts in technical and professional skills.
- Continuous Improvement: Actively participates in continuous improvement by leading problem-solving activities and using continuous improvement tools to support the team's work.
Requirements
- Degree in Business or equivalent typically required.
- A minimum of 5 years of progressive underwriting experience and/or other related experience in Property, GL, Auto, WC and Umbrella. Multinational experience is a plus.
- CPCU or professional insurance designation preferred.
- Command of insurance finance and actuarial concepts and compliance requirements.
- Understanding of contract language, including regulatory and policy differences among applicable states.
- Proven track record of developing and underwriting profitable business in market.
