HSIB - E&S Retail - UW Specialist Specialty (Remote)

The Hanover Insurance Group

8d•Hybrid

About The Position

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture. Hanover’s Retail Excess & Surplus (E&S) division is seeking an Underwriting Specialist, Specialty. The successful candidate will be production-oriented, collaborative, and skilled in cultivating and maintaining effective agency partnerships. At The Hanover, we recognize that the way we work continues to evolve. We are reimagining the workplace by offering flexible work arrangements. This role may be hybrid or fully remote and can be based anywhere in the United States, with the ability to travel as needed for meetings and client engagements. The Hanover is a diverse and inclusive organization committed to attracting, developing, and retaining top talent. We encourage all qualified professionals to apply and believe that a diverse, equitable, and inclusive workplace strengthens our organization and the communities we serve. The actual job title and level may be flexible dependent on candidate qualifications and experience (Senior Underwriting Specialist). Hanover Retail E&S is seeking to add an Excess and Surplus Lines (E&S) Underwriting Specialist, Specialty to its growing Team. Hanover Retail E&S transacts business with appointed retail trading partners, and the position will be responsible for reviewing new and renewal mono-line commercial general liability and supported excess liability risks, monoline property and package lines of excess & surplus business to determine acceptability for quoting and binding business within the underwriting authority granted by the Company. This position is a market facing role with frequent interaction with appointed retail trading partners. This position requires strong communication, negotiation, relationship development, and analytical skills to transact business within the fast-paced E&S environment. We are seeking an experienced E&S professional with a high technical acumen; collaborative spirit, and a strong underwriting skill set; basic property underwriting experience would be a plus. This position works in a team environment and will collaborate to underwrite and service accounts for our appointed retail trading partners. Business development activities include close collaboration with other internal business units in developing agency relationships, strategies, account coordination, executing on sales and marketing activities that demonstrate and support a strong customer focus that ultimately reinforces Hanover Retail E&S appetite and strategy. THIS IS A FULL-TIME, EXEMPT ROLE.

Requirements

Bachelor’s Degree or equivalent experience.
Generally, 4-7+ years Specialty or standard commercial lines experience.
3-4+ years’ experience driving agency relationships resulting in profitable new and renewal business as well as complex accounts.
Demonstrates ability to adapt quickly to change, identify, analyze, and solve problems and willingness to being open to new and different ways of thinking.
Communication - ability to effectively interact and communicate with all levels of external and/or internal business partners within scope of responsibility, team, and/or matrix environment. Demonstrating ability to consult with internal and external parties on underwriting matters.
Judgment and Decision Making - Ability to exercise judgment, negotiate and make sound business decisions effectively based on level of authority. Demonstrates confidence in own abilities and is comfortable taking informed risk.
Agile and Adaptive - Strong ability to identify, analyze and solve problems as well as the ability to learn rapidly, adapt quickly to change, exercise influence, and manage and prioritize multiple concurrent projects.
Teamwork and Collaboration - Openly encourages other team members to share ideas and voice concerns. Shows respect for differences and diversity in ideas and views. Involves other team members to achieve optimal performance.
Prioritization and Desk Management - Understands and seeks ways to improve the quality and results of one’s work. Monitors progress against agreed upon timeline and deliverables. Raises awareness if achievement of committed work may be compromised and actively engages in mitigating the situation.

Nice To Haves

basic property underwriting experience would be a plus

Responsibilities

Knows and applies underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis.
Uses all appropriate underwriting tools, disciplines and strategies to ensure underwriting guidelines are followed.
Understands pricing components and rating methodology and correlates pricing to exposures.
When presented with minimal information on a risk, instinctively knows the key questions to ask to ascertain the full scope of operations and the key exposures and needed controls.
Completes file documentation according to best practices guidelines and can clearly explain account decisions.
Provides clear and concise rating instructions for quotes prior to generating proposal for presentation to the agent.
Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, product mix, new business, and portfolio management goals, by use of proven pipeline and marketing practices.
Developing an understanding of various financial reporting information and insurance performance measures in the management of risk.
Demonstrates an understanding of the market factors that can affect pricing and how it correlates to individuals book, agency’s book, the region, and countrywide.
Prepares or analyzes information on underwriting decisions, rate, underwriting requirements, company appetite, status, and declinations to drive results within the assigned territory.
Familiarizes oneself with other Hanover departments for leveraging growth in areas of business where portfolio could be more balanced.
Can identify, solicit, pipeline, negotiate, and close accounts aligned with business strategy. Ability to profile assigned agency plant and to strategically market our capabilities to agents.
Keeps current on state/territory issues, regulations, and trends.
Utilizes market and competitor information to enhance relationships and individual account decision making.
Prioritizes and develops effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment in order to improve yield and retention ratios.
Operates with a franchise perspective to identify additional sell opportunities to create growth within other LOB’s and customer segments.
Partners with other business units to deliver comprehensive insurance solutions • Demonstrates in-depth knowledge of Hanover’s products and appetite while clearly communicating Hanover’s position at the point of sale. Builds and maintains rigorous sales practices using all systems, sales tools and disciplines outlined in the sales’ best practices.
Makes presentations to agents and customers. Utilize department and Specialty partners to augment sales process. Effectively utilize Claims and Loss Control to display service and/or technical expertise with present and future customers.