Alternative Distribution Specialist Underwriter - E&S

Nationwide Mutual Insurance•Scottsdale, AZ

1d•Hybrid

About The Position

This is a unique role within Contract Underwriting that is responsible for leveraging strong partner relationships, a solution-oriented mindset, and technical underwriting acumen to drive profitable growth across the Alternative Distribution portfolio. In this role, you will partner with Contract Underwriting appointed Wholesale Managing General Agents to vet, operationalize, manage, and grow new and existing alternatively distributed products. Alternative Distribution refers to business that is solicited through wholesale binding distribution and generally falls within Contract Underwriting appetite but is transacted via non-traditional channels, i.e. digital storefronts and non-API supported placement (i.e. bordereaux). You’ll be responsible for vetting, developing, and actively managing these solutions and collaborating with partners to analyze, develop, implement, and refine underwriting guidelines and pricing as appropriate. You will manage the P&L of each individual solution and handle individual account underwriting for referral business that falls outside prescribed authority. You will also provide operational support and oversight to ensure non-API supported solutions such as bordereaux-managed business is captured and ingested appropriately as well as ensuring the risks within the greater portfolio fall within prescribed authority, mix of business targets, and other predefined underwriting parameters. In order to be successful in this role, you will need to build and maintain effective relationships with internal business liaisons as well as external partners. Our Excess & Surplus/Specialty (E&S) lines allow us to provide insurance that other carriers may not offer. It’s a fast-paced environment in a collaborative, team-oriented culture, working in an always-changing, growing industry. As an Underwriting Specialist in Contract you determine individual risk acceptability, pricing, coverage, terms and conditions, by developing, analyzing and evaluating information and exposures on risks of a complex technical nature for the assigned line of business. In addition, you’ll achieve production and loss ratio goals with assigned general agents or program managers by reviewing and analyzing claims, loss history and taking appropriate action on accounts. General agent assignments are more complex in terms of coverage and general agent relationships. It’s important to establish and maintain effective relationships with general agents to generate premium dollars and profitability. You will work independently with a high level of authority and judgment. Determining appropriate reinsurance placement, if any, on individual accounts is an important element of this role. We will count on you to foster positive business relationships with co-workers, general agents and reinsurers. You will also assist with research, development and presentation of new products, forms and manuals and have opportunities to assist in the training and mentoring of Underwriters and Underwriting Assistants.

Requirements

Bachelor’s degree in Finance, Accounting, Economics, Risk Management, or related field preferred.
Approximately 6+ years of experience in specialty, program, or contract underwriting.
Strong understanding of underwriting guidelines, insurance law, contract structures, and coverage design.
Knowledge of reinsurance principles and placement strategies preferred.
Six years related experience or five years as an underwriter, excess & surplus lines preferred.
Knowledge of lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques, rating plans and plan concepts, Treaty & Facultative reinsurance concepts, general agency system and company operations, regulatory issues, the general agency system, market conditions and company operations.
Ability to communicate effectively, orally, and in writing, interpersonally with individuals and groups via telephone, fax, e-mail and in person.
Demonstrates advanced negotiation skills.
Ability to manage the assigned line or lines of business, which may include monitoring of aggregates.
Ability to work with the wholesale/general agency distribution system.
Ability to analyze insurance risks to determine acceptability including policy language, various commercial rating plans and methodologies, reinsurance.
Ability to use/learn job related computer software.
Ability to devise business solutions to problems, implement the most appropriate, and monitor its effectiveness.
Ability to make decisions with minimal supervision.
Other criteria, including leadership skills, competencies and experiences may take precedence.
Regularly and consistently demonstrates Nationwide Values.

Nice To Haves

Completion of general insurance courses such as CPCU, CIC, AU, ARM, CPIW, CWIS, or ASLI is preferred.

Responsibilities

Leverage strong partner relationships, a solution-oriented mindset, and technical underwriting acumen to drive profitable growth across the Alternative Distribution portfolio.
Partner with Contract Underwriting appointed Wholesale Managing General Agents to vet, operationalize, manage, and grow new and existing alternatively distributed products.
Vet, develop, and actively manage solutions and collaborate with partners to analyze, develop, implement, and refine underwriting guidelines and pricing.
Manage the P&L of each individual solution and handle individual account underwriting for referral business that falls outside prescribed authority.
Provide operational support and oversight to ensure non-API supported solutions such as bordereaux-managed business is captured and ingested appropriately.
Ensure risks within the greater portfolio fall within prescribed authority, mix of business targets, and other predefined underwriting parameters.
Build and maintain effective relationships with internal business liaisons as well as external partners.
Monitor program and portfolio performance, including profitability, growth, and loss trends; develop and implement corrective action plans as needed.
Analyze results across programs, classes of business, and geographies to optimize underwriting strategy.
Participate in and support bi-annual underwriting audits as needed to ensure guideline adherence; provide detailed analysis and recommendations based on findings.
Produce and deliver monthly and ad hoc performance reports to underwriting leadership and other internal/external stakeholders.
Conduct research, development, and implementation of new and existing solutions, including underwriting guidelines, forms and rate structures.
Collaborate with external partners as well as internal business liaisons to design and deploy product-specific tools and enhancements.
Recommend and implement updates to underwriting guidelines based on product performance, market trends and emerging risks.
Identify and capitalize on new business opportunities through market analysis and strategic insight.
Establish and maintain strong relationships with wholesale managing general agents and internal stakeholders to drive profitable growth.
Serve as a trusted advisor and technical underwriting resource to partners, resolving complex issues and supporting deal execution.
Conduct regular communication with partners to assess market conditions, profitability, and pipeline opportunities.
Travel as needed for agency visits, audits, marketing meetings, and relationship-building activities.
Represent the organization at industry events and contribute to marketing initiatives that promote underwriting capabilities and generate new business opportunities.
Determine individual risk acceptability, pricing, coverage, terms and conditions, by developing, analyzing and evaluating information and exposures on risks of a complex technical nature for the assigned line of business.
Achieve production and loss ratio goals with assigned general agents or program managers by reviewing and analyzing claims, loss history and taking appropriate action on accounts.
Establish and maintain effective relationships with general agents to generate premium dollars and profitability.
Determine appropriate reinsurance placement, if any, on individual accounts.
Foster positive business relationships with co-workers, general agents and reinsurers.
Assist with research, development and presentation of new products, forms and manuals.
Assist in the training and mentoring of Underwriters and Underwriting Assistants.
Review individual risks with assigned agents or programs within assigned territory and either decline or accept business based upon information necessary to make the decision.
Analyze, with a high level of technical expertise, exposures to loss, develop an adequate premium charge for the exposure and determine appropriate endorsements and exclusions to address loss exposures for the insurance contract.
Place reinsurance, if any, for the account within department guidelines.
Achieve individual production and loss ratio goals within assigned territory through sound territory management and marketing.
Achieve production, profitability and service objectives.
Quote, price and underwrite new and renewal policies and endorsements, primarily for complex or service sensitive accounts.
Monitor risk selection and pricing decisions for entire agency plant, both on a book of business and individual account level basis.
Work with more complex issues concerning coverage, programs, agents and program managers.
Continually analyze premium and loss results in their territory or assigned agents by agency, state, major class of business and by program.
Continually assess quality of submissions and makes corrective action recommendations.
Development and implementation of specific action plans may be required.
Handle policy maintenance items and other mid-term requests.
Review endorsement requests and processes necessary changes to the policy.
Review loss control reports and makes recommendations to the agent and/or changes to the policy.
Follow up on outstanding information as required.
Review claim activity and takes appropriate action.
May review agency books of business as well as profit/growth results and trends to recommend and implement action plans.
Foster positive business relationships with general agents through daily contact with assigned agents by developing and maintaining good rapport and resolving agency conflicts.
Travel to agency offices as required for audits, training or marketing visits.
Entertain agents visiting the Company as required.
Assist with development of marketing ideas and strategies for underwriting seminars and other marketing campaigns.
Place reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaty semiautomatic and facultative reinsurance.
Maintain good working relationship with reinsurers.
Market Nationwide products and services to help drive agency and company results, including all enterprise products that may enhance offerings.
Assist agency with strategies for pipeline management, producer development and to develop new business in targeted industries and preferred markets.
Respond effectively to assess accounts and develop business propositions that win the business.
Program research and development, form development, rate development, technical assistance to Agents, Underwriting Assistants, and other Underwriters.
Proactively develop technical and business knowledge through internal and external venues.

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