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Senior Underwriter
Career Insights for Insurance Underwriter (General)
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Scorecard
Based on Illinois data
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What they do
An Insurance Underwriter evaluates and measures risk and advises businesses in insurance, banking and securities. Recommends customers to be approved for insurance coverage, and develops policies and premium levels. Reviews loan applications, evaluates credit-worthiness of loan applicants and analyzes the investment risk of a loan for the bank. Evaluates risk in different types of securities and advises clients on investments that will yield highest profits.
$77,840 / year median in Illinois
-12% projected decline
Job Description
Primary responsibilities include:
Produce new business opportunities within the assigned territory. Evaluate, select, underwrite, price, quote, and maintain new and renewal umbrella and excess casualty business. Analyze complex casualty exposures, loss experience, financial information, risk controls, and account structures. Determine appropriate coverage, attachment points, pricing, terms, and conditions within underwriting authority. Develop and implement marketing plans in coordination with Excess Casualty National Accounts management. Expand existing broker relationships and develop new brokerage relationships where appropriate. Manage the new business pipeline and develop strategies to successfully close targeted opportunities. Retain accounts through active participation in Chubb's stewardship process. Maintain production goals and report on business activity and results to Excess Casualty National Accounts management. Identify cross-marketing opportunities and coordinate strategies across Chubb's domestic and multinational casualty operations. Oversee and execute required underwriting and operational activities. Participate in product-line projects and business initiatives as required. Adhere to Chubb standards for pricing, documentation, account servicing, and portfolio management. Bachelor's degree in insurance, business, risk management, or a related field, or equivalent professional experience. Four to six years of commercial casualty experience, including experience underwriting large or complex casualty accounts. Excess casualty, umbrella, or Fortune 1000 account underwriting experience preferred. In-depth knowledge of commercial casualty underwriting products, concepts, coverages, and procedures. Demonstrated ability to evaluate complex risk exposures, loss experience, financial information, and coverage structures. Strong understanding of casualty pricing, attachment-point analysis, policy terms, and underwriting strategies. Established broker relationships and the ability to develop new business opportunities. Strong sales, marketing, negotiation, and account-management skills. Ability to develop and execute business and marketing plans. Strong written, verbal, interpersonal, and presentation skills. Ability to work effectively with brokers, clients, underwriting management, claims, actuarial, risk engineering, and other internal business partners. Ability to manage competing priorities and make independent underwriting decisions within established authority. Proficiency with Microsoft Office and applicable underwriting systems. The pay range for the role is $102,000 to $148,000. The specific offer will depend on an applicant's skills and other factors. This role may also be eligible to participate in a discretionary annual incentive program. Chubb offers a comprehensive benefits package, more details on which can be found on our careers website. The disclosed pay range estimate may be adjusted for the applicable geographic differential for the location in which the position is filled.Benefits
- Dental Insurance