Nationwide Insurance Employment – Sr Underwriter

Job Description:

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.

Job Responsibilities:

• 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.
• 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.
• 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.
• 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.
• 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
• Mentors lower level underwriters.

Job Requirements:

• 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.
• Undergraduate studies with focus in finance, accounting, economics and/or risk management. Degree Post graduate level studies preferred.

Job Details:

Company: Nationwide

Vacancy Type:  Full Time

Job Location: New York, NY, US

Application Deadline: N/A

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