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!
Job Description Summary
Under limited direction, assesses a company's risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by analyzing a company's financial documents and other information for complex D&O pricing. Includes, but not limited to the company's viability, issues, governance, regulatory environment and experience. Achieves team production and loss ratio goals within assigned territory by reviewing and analyzing claims, loss history and taking appropriate action on individual accounts. The underwriter works under limited direct supervision developing recommendations and applying judgment based on the financial analysis. Establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably. Territory assignments are complex in nature concerning coverage and agent/broker/ relationships. Assists with the research, development and presentation of new programs, forms and manuals. Responsible for the training and mentoring of lower level underwriters. Will be the main point of contact for brokers in that specific assigned territory.
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Job Description
Key Responsibilities:
Under limited direction, assesses a company's risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by analyzing a company's financial documents/operations/management/industry and other information. Including, but not limited to the company's viability, issues, governance, regulatory environment, and experience. The underwriter analyzes, with a high level of technical expertise, exposures to loss, develops an adequate premium charge for the exposure, and determines appropriate endorsements and exclusions to address loss exposures for the insurance contract. Within department guidelines places reinsurance, if any, for the account.
Achieves team production and loss ratio goals within assigned territory through sound marketing. The underwriter continually analyzes premium and loss results in their territory by agency, state, major class of industry and by line of business
Handles complex policy maintenance items and other mid-term requests. Reviews endorsement requests and processes needed changes to the policy. Follows up on outstanding information as required. Reviews claim activity and takes appropriate action.
Under limited direct supervision, establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably. Travels to broker offices as required for marketing visits. Frequently entertains brokers to market services and ensure strong relationship to write business.
Typically participates in underwriting meetings with brokers, clients, and other underwriters. Meetings typically include CFOs, CEOs of client organizations and several underwriters from other organizations. The CFO/CEO provides information. The underwriter clarifies and questions information provided by the client to appropriately assess the risk. May be accompanied by a senior underwriter or above.
Places reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaties, semiautomatic and facultative reinsurance. Maintains good working relationship with reinsures.
Mentors lower level underwriters.
Other responsibilities as assigned may include program research and development, form development, rate development, specials projects, technical assistance to brokers, underwriting assistants and other underwriters.
May performs other responsibilities as assigned.
Reporting Relationships: Reports to Director/AVP
Typical Skills and Experiences:
Education: Undergraduate studies with focus in finance, accounting, economics and/or risk management. Degree Post graduate level studies preferred.
Experience: Typically 2 years or more year’s related experience as a D&O and/or E&O Underwriter.
Knowledge, Abilities and Skills: Knowledge of lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques. Knowledge of financial documents, financial analysis, investments, market conditions essential. Legal knowledge related to insurance, contract and business law preferred. Ability to communicate complex underwriting concepts required. Ability to communicate effectively, verbally, and in writing, interpersonally with individuals at various levels and groups via telephone, fax, e-mail and in person. Demonstrates advanced negotiation skills. Ability to analyze insurance risks to determine acceptability including policy language, various commercial rating plans and methodologies, reinsurance. Knowledge of related computer software. Ability to devise business solutions to problems, implements the most appropriate, and monitor its effectiveness. Ability to make decisions with minimal direct supervision.
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: Not Eligible (Exempt)
Working Conditions: Normal office environment. Ability to travel locally and overnight for client meetings as needed.
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 associates assigned to the job to perform a somewhat different combination of duties.