Associate Underwriter, Inland Marine

Chubb • Chicago, IL

3d • $65,200 - $98,800 • Onsite

About The Position

Chubb is currently seeking a skilled Associate Underwriter to join its Major Accounts Inland Marine Group in our Chicago, IL office. The Associate Underwriter’s primary responsibility is to aid the Inland Marine group in the management and retention of accounts assigned through a demonstration of the following skills and abilities: Fundamentals of coverage, terms and conditions . Understand ability to offer coverage, terms and conditions which generate a profit for the Company while meeting the needs of the customer. Risk Assessment . Ability to identify risk exposures, special or common hazards, and appropriate controls. Ability to analyze claims and quantify losses. Financial proficiency . Understanding of insurance financial fundamentals and their impact on underwriting decisions. Actuarial fundamentals . Ability to understand loss trends and ratemaking. Ability to quantify risk based on experience history and forecasting methods. Systems and programs . Ability to use systems and software programs needed to conduct daily business. Collaboration. Ability to collaborate effectively with the underwriting team to assist with account management tasks. MAJOR DUTIES & RESPONSIBILITIES: Duties may include but are not limited to: Effectively and efficiently process underwriting workflow through interaction with internal and external partners to ensure standards are consistently upheld. Examine applications, renewals, and change requests, collecting all necessary information to fully prepare the Underwriting team to make decisions regarding risk acceptability, terms, and pricing. Within established business plans, identify, analyze, and underwrite risks while adhering to corporate guidelines regarding risk selection, treaties, reinsurance, coverage, and pricing to obtain desired results. Manage a book of business offering strategic underwriting guidance including rate/terms/deductibles Monitor results of the overall book of business assigned and recommend corrective action as necessary to insure profitability and retention of desirable accounts Establish and maintain strong working relationships with assigned agents to support profitable growth. Provide quality and timely input on assigned projects to meet the Company’s needs in the changing market and to support profitable growth Participate in audits and/or underwriting meetings as required. Cross-sell opportunities within other Chubb divisions through promotion of their products and services. Travel less than 25%

Requirements

• Bachelor’s degree or equivalent experience.
• Minimum 1-3 years of current underwriting/insurance experience – concentration in Inland Marine products including Builder’s Risk and Contractor’s Equipment preferred
• Strong analytical skills with the ability to collect, organize, and analyze significant amounts of information with attention to detail and accuracy
• Effective time and desk management, balancing a large book of business
• Able to work collaboratively and prioritize in a matrix environment
• Strong interpersonal, oral and written communication and negotiation skills
• PC and Microsoft Office Products proficient, Excel skills in particular
• Must be able to function effectively in a time sensitive and fast-paced environment

Nice To Haves

• Industry designations a plus – CPCU or AMIM preferred

Responsibilities

• Effectively and efficiently process underwriting workflow through interaction with internal and external partners to ensure standards are consistently upheld.
• Examine applications, renewals, and change requests, collecting all necessary information to fully prepare the Underwriting team to make decisions regarding risk acceptability, terms, and pricing.
• Within established business plans, identify, analyze, and underwrite risks while adhering to corporate guidelines regarding risk selection, treaties, reinsurance, coverage, and pricing to obtain desired results.
• Manage a book of business offering strategic underwriting guidance including rate/terms/deductibles
• Monitor results of the overall book of business assigned and recommend corrective action as necessary to insure profitability and retention of desirable accounts
• Establish and maintain strong working relationships with assigned agents to support profitable growth.
• Provide quality and timely input on assigned projects to meet the Company’s needs in the changing market and to support profitable growth
• Participate in audits and/or underwriting meetings as required.
• Cross-sell opportunities within other Chubb divisions through promotion of their products and services.
• Travel less than 25%

Benefits

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 5,001-10,000 employees