Note: The job is a remote job and is open to candidates in USA. Nationwide is a Fortune 100 company with a focus on helping people protect what matters most to them. The Underwriting Consultant in Brokerage Casualty will underwrite individual risks, achieve production and loss ratio goals, and develop positive relationships with brokers while working in a fast-paced, collaborative environment.
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
Skills
- Critical thinker who can analyze complex risk and find insurance solutions that balance customer needs with business goals
- Ability to take initiative, use both analytical and creative abilities to make sound decisions
- Desire to help people solve real challenges
- Ability to underwrite individual risks for acceptability, pricing, coverage, terms and conditions
- Develop, analyze and evaluate information and exposures on risks of an increasing complex technical nature
- Achieve production and loss ratio goals with assigned brokers and program managers
- Review and analyze claims, loss history and take appropriate action on accounts
- Exercise a high level of authority and judgment with minimal direction
- Determine appropriate reinsurance placement on individual accounts
- Foster positive business relationships with co-workers, brokers, and reinsurers
- Research, develop and present new classes of business including market viability forms development
- Assist the manager with department strategies, employee coaching and development, and mentoring underwriters at all levels
- Authority to approve referrals that exceed the authority of lower level underwriters
- Demonstrate a thorough understanding of facultative reinsurance and place reinsurance per department guidelines
- Resolve technical questions of the greatest complexity
- Proactively develop technical and business knowledge through internal and external venues
- Teach classes to build technical underwriting knowledge to brokers, SSU students and other underwriters
- Mentor new and existing underwriting talent
- Undergraduate degree preferred. Equivalent work experience will be considered in lieu of a degree
- Completion of general insurance courses such as CPCU, CIC, AU, ARM, CPIW, CWIS, or ASLI is preferred
- Eight years CL underwriting experience handling large or complex accounts, excess & surplus lines experience preferred
Benefits
- Medical/dental/vision
- Life insurance
- Short and long term disability coverage
- Paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date
- Nine paid holidays
- 8 hours of Lifetime paid time off
- 8 hours of Unity Day paid time off
- 401(k) with company match
- Company-paid pension plan
- Business casual attire
Company Overview