Underwriter II - ICAT
The Underwriter II is a production underwriter primarily focused on new business. The UWII generally underwrites and markets accounts with total insured values up to $75M in values for assigned producers/offices.
Essential Functions and Responsibilities
Underwriting / Product Knowledge
- Meets annual new business production goal, within required risk metrics.
- Underwrites and prices accounts in accordance with ICAT's underwriting standards, personal underwriting authority level, and ICAT's General Agency Agreements (GAA).
- Meets all file documentation standards, complies with underwriting and authority level standards, and passes all audits (both internal and external).
- Reviews and approved Inspection Review findings and recommendations on new business bound; works with UW operations on determining action required.
- Works with assigned Underwriting Assistant on monthly renewals and renewal retention ratios, providing guidance and pricing for best options to market.
- Responsible for understanding and reviewing personal production, hit ratios, making needed adjustments to ensure production goals are met.
- Demonstrates a proficient understanding of ICAT's commercial and residential products and business models.
- Maintains a strong understanding on the differences between ICAT's small commercial and its Middle Market products and business practices.
- Demonstrates a proficient understanding of and the ability to situationally apply ICAT's forms and endorsements the requirements of the GAA, ICAT's rating methodology, ICAT's reinsurance contracts and Carrier Partner guidelines/appetite.
- Emerging to proficient understanding and application of various non-standard manuscript forms required on more complex accounts; as well as understands the business needs and approaches for more complex, layered accounts.
- Strong understanding of middle market underwriting systems (automated and manual) and utilizes these systems consistently and as required.
- Responsible for conducting regular and periodic underwriting self-review. Internally audited on at least a semi-annual basis.
- Will be assigned to assist with accounts with greater than $75M in values as required.
- Target area of development. The Underwriter II should focus on working towards a deeper understanding of ICAT's needs and long term vision.
- Responsible for a set of producers; is the primary point of contact for that producer.
- Gathers market data for new markets, products, and or segments and works with the team to identify new production opportunities and competitor activity through visit reports and Salesforce.
- Effectively negotiates on ICAT's behalf.
- Mentors and trains less experienced underwriting personnel on underwriting guidelines, forms, market conditions, competitors, relationship building, etc.
- Knows and supports ICAT's company values and strategic plan.
- Understands how role and business unit fit within that strategic plan.
- Additional duties as assigned
- BA degree in insurance, business or related field preferred.
- 3 to 5 years of progressive underwriting experience within the commercial property insurance industry.
- 3 to 5 years of progressive customer service and/or agency management experience within the insurance industry.
- Strong mathematical and analytical aptitude.
- Proven underwriting, sales and agency management skills.
- Oral and written communication including formal and informal presentation skills.
- Ability to underwrite large more complex accounts, including knowledge of commercial property forms, pricing and rating methodology, modeling and valuation tool.
- Ability to manage agency relationships and production.
- I NS or CPCU Certification preferre d.
- Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
- Able to sit and work at a computer keyboard for extended periods of time
- Able to stoop, kneel, bend at the waist and reach on a daily basis
- Able to perform general office administrative activities: copying, filing, delivering and using the telephone
- Able to lift up to 25 pounds occasionally
- Regular travel by conventional means including aircraft, motor vehicle and the like within the region and to other locations as required.
- Must have valid driver's license and personal vehicle for work use.
At ICAT, we have a single goal: help business owners and homeowners recover from a disaster.
Since 1998, ICAT has provided catastrophe insurance coverage to home and business owners throughout the United States. From day one through today, we remain a highly specialized, disciplined underwriter of catastrophe property insurance risk.
ICAT has over 200 employees and serves more than 65,000 customers in 42 states through its online quoting system, http://www.icat.com"www.icat.com and through traditional broker submissions. The ICAT brand offers the promise of "Security, Service, Recovery" to policyholders and brokers in providing insurance solutions to protect against natural catastrophe events. ICAT continues to expand through new products such as its Residential Earthquake product in California, which helps homeowners protect their largest asset in the event of an earthquake.
ICAT underwrites on behalf of a diverse line up of strong carrier partners and Lloyd's of London syndicates. Claims administration services are provided by ICAT's sister company Boulder Claims. Boulder Claims was founded in 2005 and in its short history has successfully adjusted and settled over 23,000 claims, including claims from Hurricanes Charley, Frances, Ivan, Jeanne, Katrina, Rita, Wilma, Dolly, Gustav and Ike. ICAT is based in Broomfield, CO with additional offices in Tampa and Honolulu.
ICAT is owned by The Schinnerer Group. The Schinnerer Group is one of the largest and most experienced underwriting managers of specialty insurance programs in the world. The Schinnerer Group includes Victor O. Schinnerer & Company and ICAT in the United States, ENCON in Canada and other MGA enterprises globally. For more information on ICAT, visit us at: http://www.icat.com"www.icat.com .
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