Associate Underwriter

RLI Insurance Company • Peoria, IL

9d • $28 - $39 • Hybrid

About The Position

RLI is a specialty insurance company that helps customers navigate the world of insurance and risk. For more than a half century, we’ve been helping people and companies safeguard their assets through our innovative portfolio of property and casualty coverages and surety products. We’re not what you’d expect from a typical insurance company. From our products to our business model, our culture to our results — we’re different. Our remarkable people. Our people are among the smartest and most knowledgeable in the business. They are experts at building relationships that last with our brokers and customers by providing outstanding service and creating ideal coverages with competitive premiums. Our underwriting focus. We seek underserved niches in the marketplace and provide coverages that meet very specific needs. We eliminate unnecessary bureaucracy, give our underwriters authority and share the profits. Our entrepreneurial culture. At RLI, we’ve created a business model that works: hire smart, ethical people, make them owners of the business, and give them the freedom to succeed. Our employees are encouraged to seek out opportunities, make things happen and do the unexpected. Under frequent supervision, this role provides underwriting support from application through post-binding activity. It involves interacting with internal team members and broker customers to efficiently and accurately support the underwriting practice. Depending on prior experience, the individual is expected to learn, shadow, and train in the field of underwriting through various special projects, become proficient in the technical platform and processes involved in Underwriting, and utilize judgment to align the aspects of the account to ensure consistency amongst the quote, binder, and policy. The role also involves identifying notable inconsistencies in data elements and working with the Underwriter to reconcile, studying for and completing insurance examinations as deemed appropriate, and attending relevant training sessions. The Associate Underwriter is expected to progress to quote and bind under the direction of underwriting management.

Requirements

• Typically requires a bachelor's degree in insurance, finance, risk management, business or a related field
• 0+ years of related experience for consideration [OR] equivalent level of education and experience
• Ability to use analytical methods in underwriting processes to find workable solutions.
• Ability to verbally and in writing, communicate findings and recommendations to internal and external contacts on underwriting matters.
• Ability to use software to summarize and analyze large amounts of data.
• Understands, applies, & properly documents nature of operations of the risk for accounts assigned & communicates findings.
• Ability to prepare, review, and complete underwriting analysis of accounts.
• Analytical skills and understanding of submission requirements, model entry, and product appetite.
• Participates in underwriting related continuing education.

Responsibilities

• Provides underwriting support for the entire underwriting process from start to finish.
• Review incoming submissions to determine viability for quoting.
• Review RMS Modeling results for opportunity and accuracy.
• Provide new business quotes for underwriter review or directly to brokers as determined by Underwriting Authority Letter.
• Complete renewal review process.
• Review inspection reports and financial information to notify underwriters of potential issues or provide recommendations.
• Process endorsements and determine acceptability.
• Upon completion, review and approve for distribution.
• Handle worksheet process consisting of completing Underwriting Worksheet, Rating Worksheet, and Review/Pick Policy Forms.
• Perform policy review process and approve for distribution.
• Assist in special projects and other duties as needed.

Benefits

• Annual bonus plans
• Employee stock ownership plan (ESOP)
• 401(k) — automatic 3% company contribution
• Annual 401k and ESOP profit-sharing contributions (Up to 15% of eligible earnings)
• Paid time off (PTO) and holidays
• Paid volunteer time off (VTO) to support our communities
• Parental and family care leave
• Flexible & hybrid work arrangements
• Fitness center discounts and free virtual fitness platform
• Employee assistance program
• Comprehensive medical, dental and vision benefits
• Flexible spending and health savings accounts
• 2x base salary for group life and AD&D insurance
• Voluntary life, critical illness, & accident insurance for purchase
• Short-term and long-term disability benefits
• Training & certification opportunities
• Tuition reimbursement
• Education bonuses

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level