If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you!
This is an individual contributor and production-oriented underwriter within our E&S/Specialty Brokerage Casualty Underwriting team.
Preferably, this individual will work out of the NYC, Chicago, or Atlanta (Alpharetta) offices, though consideration may be given to other locations, including Remote/Work-From-Home (WFH).
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Approximately 25% travel is required with this position, including limited air/overnight travel (1/quarter, on average).
Compensation Grade: G.SD120
This role may be filled at a different level, depending on candidate skills and experience.
Colorado Residents: Email taproces@nationwide.com for salary information
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Job Description Summary
Are you a critical thinker who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both your analytical and creative abilities to make sound decisions and have a desire to help people solve real challenges, we want to hear from you!
Our Excess & Surplus/Specialty (E&S/S) lines allow us to provide insurance that other carriers may not offer. It’s a fast-paced environment in a collaborative, team-oriented culture, working in an always-changing, growing industry.
As an Underwriting Consultant in Brokerage Excess you will underwrite individual risks for acceptability, pricing, coverage, terms and conditions, by developing, analyzing and evaluating information and exposures on risks of an increasing complex technical nature with a high level of authority for the Excess Casualty line of business. In addition, you achieve production and loss ratio goals with assigned brokers and program managers by reviewing and analyzing claims, loss history and taking appropriate action on accounts. Broker assignments are the most complex in terms of coverage and broker relationships. You’ll need to exercise a high level of authority and judgment with minimal direction. Determining appropriate reinsurance placement, if any, on individual accounts is important in this role. We’ll count on you to foster positive business relationships with co-workers, brokers, and reinsurers. You’ll also be responsible for research, development and presentation of new classes of business including market viability forms development, manuals, available reinsurance and will assist the manager with department strategies, employee coaching and development, and mentoring underwriters at all levels. You’ll have authority to approve referrals that exceed the authority of lower level underwriters as well.
Job Description
Key Responsibilities:
Researches and develops new classes of business as directed. Researches market trends and competition. Assesses market viability, creates forms & endorsements, and develops rates with actuarial support. On large, complex accounts, partners with Actuarial team to develop rates/pricing, Finance team to review potential insureds profitability profile and claims team to review SIR viability and potential frequency and severity of losses.
Reviews individual risks with assigned brokers and either declines or accepts business based upon information necessary to make the decision. The underwriter analyzes, with the highest level of technical expertise and accuracy, exposures to loss, develops an adequate premium charge for the exposure, determines endorsements and exclusions to address loss exposures for the insurance contract, including developing manuscript wording appropriate to the risk. Within department guidelines places reinsurance, if any, for the account.
Achieves team/individual production and loss ratio goals with assigned brokers through sound broker management and marketing. Works with the most complex issues concerning coverage, terms and conditions, etc. brokers. The underwriter continually analyzes premium and loss results of assigned brokers; by state, major classes of business, etc. Continually assesses quality of broker submissions and makes corrective action recommendations.
Oversees or handles policy maintenance items and other mid-term requests. Reviews endorsement requests and authorizes necessary changes to the policy. Reviews Loss Control reports and recommendations and partners with the broker to ensure loss control compliance. Follows up on outstanding information as required. Reviews claim activity and takes appropriate action.
Fosters positive business relationships with brokers, through frequent contact. Develops and maintains good rapport and resolves broker conflicts. Travels to broker offices as required for training or marketing visits. Entertains brokers visiting the Company as required. Assists with development of marketing ideas and strategies for Underwriting events and other marketing campaigns.
Demonstrates a thorough understanding of facultative reinsurance and places reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaty, semiautomatic and facultative reinsurance. Maintains good working relationship with reinsurers.
Resolves technical questions of the greatest complexity.
Proactively develops technical and business knowledge through internal and external venues. Teaches classes to build technical underwriting knowledge to brokers, SSU students and other underwriters. Mentors new and existing underwriting talent.
May perform other responsibilities as assigned.
Reporting Relationships: Reports to Underwriting Manager. May have up to three direct reports. Indirect reports not typically assigned.
Typical Skills and Experiences:
Education: Undergraduate degree preferred. Equivalent work experience will be considered in lieu of a degree.
License/Certification/Designation: Completion of general insurance courses such as CPCU, CIC, AU, ARM, CPIW, CWIS, or ASLI is preferred.
Experience: Eight years CL underwriting experience handling large or complex accounts, excess & surplus lines experience preferred.
Knowledge, Abilities and Skills: Knowledge of complex CL underwriting policies, practices and procedures, insurance law and underwriting/marketing principles and techniques. Knowledge of Standard Bureau Rating plans and concepts such as catastrophe management. Knowledge of Alternative rating methods and plans and pricing theory. Knowledge of Treaty & Facultative reinsurance. Knowledge of regulatory issues, the wholesale broker system, market conditions and company operations.
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.
Values: Regularly and consistently demonstrates the Nationwide Values.
Job Conditions:
Overtime Eligibility: Exempt (Not Eligible)
Working Conditions: Normal office environment. Extended and non-standard work hours based on project and customer deliverable. Travel required.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.