As a Differences In Conditions (DIC) Underwriter you will be responsible for classifying and pricing risks in order to profitably grow a specialty area of insurance. The DIC Underwriter builds collaborative relationships and evaluates risks to create coverage that satisfies the company and our clients.
About Your Job:
- Grow specialty areas of insurance business through proper classification and pricing risks.
- Accepts, modifies or rejects risks based on a review of business in terms of loss experience, inspection reports, file information, web resources, policyholder tenure, related policies and nature of risk in accordance with Company guidelines, standards and compliance with state laws.
- Interprets policy contract language/forms and uses approved classification systems, rating plans and selection standards to determine eligibility, desirability and proper classification/pricing.
- Informs management of weakness in coverage and/or products that are adversely impacting growth potential.
- Gathers pertinent competitive information to assist in developing recommendations to product development.
- Evaluates routine business for risk acceptability; matching price to exposure, loss frequency and severity for profitability and rating plans/modifications for renew retention.
- Provides documentation for any exceptions to established guidelines and critical account information relating to the final Underwriting decision.
- Verifies coverage eligibility.
- Communicates effectively via phone calls and emails to gather an analyze necessary information critical to the Underwriting process.
- Occasionally goes out on field visits to create new business opportunities and improve policy renewal retention.
- Provides documentation for any exceptions to established guidelines and critical account.
- Maintains Underwriting quality standards.
- Develops a strong understanding of modeling systems.
- Analyzes modeling results to support Underwriting decisions.
- Places facultative reinsurance according to Company guidelines.
- Establishes collaborative relationships with agencies/producers to understand the external marketplace and underwrite within established performance standards.
- Effectively communicates decisions and resolve agent/customer concerns promptly.
- Provides technical assistance to internal and external customers regarding coverage interpretation, policy and endorsement provisions and Underwriting acceptability for specialty area coverages.
- Develops collaborative working relationships with assigned agents providing excellent customer service.
- Visits each broker assigned a minimum of two times a year.
- Attends marketing events that may be organized by the Company.
- Provides feedback gathered from marketing activities to management through marketing call reports.
- Participates in Underwriting and production presentation when approved by management.
EDUCATION AND EXPERIENCE:
High school diploma required. College-level courses up to and including a Bachelor’s degree, with emphasis in Business, Accounting, Statistics or related field preferred. 1-5 years’ experience Underwriting in specialty area. Demonstrated experience with automated Underwriting systems.
Knows and applies fundamental Underwriting concepts, practices and procedures in area of specialization. Ability to read, analyze and interpret technical instructions, search for and find programming information on the Internet and resolve complex programming challenges. Ability to breakdown complex ideas into simple concepts and present this information in small group meetings. Must be able to write documentation for programming hand-off to others who are not as technical. Demonstrated ability to present complex data/information to varied audiences. Proven organizational, analytical and time management skills. Demonstrated ability to negotiate, influence and close deals. Excellent interpersonal and teamwork skills.
Does this sound like you? If so, we would love for you to bring your talents to ICW Group!
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