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Sr Production Underwriter
Career Insights for Insurance Underwriter (General)
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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 the U.S.
-12% projected decline
Job Description
Responsibilities:
Profitably underwrite complex new and renewal business through risk selection, pricing, contractual integrity, and account management, in accordance with delegated authority, and ensuring regulatory compliance. Demonstrate critical thinking in assessing the risk and identifying exposures and controls. Price risk commensurate with exposures and controls. Set appropriate terms and conditions to deliver a profitable portfolio Document assigned files with underwriting thought process. Serve as a subject matter expert to assist team members with complex risks. Through effective portfolio management skills, achieve profit and premium plans for prescribed business unit strategies. Achieve production goals within assigned territory Responsible for marketing, which includes both in-person and virtual sales calls with agencies and insureds. Prospecting and developing a strong pipeline of new business opportunities. Develop and maintain successful relationships with producers and agencies. Represent UFG in the marketplace, articulating the company's capabilities in underwriting, risk control, and claims, across all business units at UFG. Collaborate with Business Unit and Line of Business underwriting, Sales and Distribution, Underwriting Center, Underwriting Support, Risk Control, Legal, Claims, and other internal partners to ensure optimal stakeholder management. Complete agency reviews, capturing appropriate intel around market opportunities. Provide feedback to management on the current state of the marketplace, agencies, and competition. Mentor and train team members, acting as a resource for the team to answer questions, resolve escalated issues, and provide guidance. Represent the field underwriter perspective in key corporate initiatives and projects. Support and participate in the deployment of technical underwriting training/content. Demonstrate critical thinking in assessing the risk and identifying exposures and controls. Price risk commensurate with exposures and controls. Set appropriate terms and conditions to deliver a profitable portfolio Document assigned files with underwriting thought process. Serve as a subject matter expert to assist team members with complex risks. Responsible for marketing, which includes both in-person and virtual sales calls with agencies and insureds. Prospecting and developing a strong pipeline of new business opportunities. Develop and maintain successful relationships with producers and agencies.Qualifications:
Education:
Four-year college degree preferred. Completion of or working towards AU, CIC and/or CPCU designations preferred.Experience:
5+ years commercial lines underwriting experience preferred. Knowledge, skills & abilities: Advanced risk evaluation skills and insurance contract knowledge. Capability to execute current underwriting strategy for assigned territory to make effective underwriting decisions. Strong leadership skillset to include ability to mentor, coach, and train. Ability to work in a fast-paced environment while prioritizing and completing work efficiently and effectively. Excellent customer service skills. Effective stakeholder management skillset to include ability to establish high degree of trust with internal and external partners. Analytical and problem-solving skills with an affinity for detailed accuracy. Advanced communication and negotiation skills. Strong time-management skills with the ability to meet deadlines and effective dates. Advanced knowledge of agency force and current market environment. Excellent sales skills, with proven track record of growing a profitable book of business.Working Conditions:
General office conditions; remote, in-person, and hybrid options determined by manager. Travel required, as per assigned book of business and territory. Driver's license and acceptable MVR required. Pay Transparency Statement UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $103,221.75 - $136,105.25 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data. In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes: Annual incentive compensation Medical, dental, vision & life insurance Accident, critical Illness & short-term disability insurance Retirement plans with employer contributions Generous time-off program Programs designed to support the employee well-being and financial security. This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.Benefits
- Other Retirement and Savings
- Health Insurance
- Dental Insurance
- Vision Insurance