Commercial Underwriter

Ace Hardware•Oak Brook, IL

5d•$76,300 - $95,500

About The Position

The Commercial Underwriter’s focus will be underwriting the Ace Hardware Insurance Program, including the prequalification of new business, validating renewal exposures, risk qualifications and pricing; and assist the AIA team in achieving its servicing and sales goals with a variety of underwriting and workflow responsibilities. What You’ll Do Manage the underwriting of the entire policy portfolio including Package, ISO BOP, WC, Auto and excess lines of coverage in accordance with the agency/fronting carriers growth, retention, rate, profitability and premium goals. Work with fronting carrier to identify potential agency guideline deficiencies and opportunities. Champion coverage and rate changes once identified and determined necessary, with fronting carrier and agency management. E valuate new and renewal exposures, limits, and issued policies to ensure compliance with underwriting guidelines and state regulations. Manage policy referral to fronting carrier process to ensure completeness of submissions, complete understanding of issues necessitating referral, and timeliness of fronting carrier response. Work with agent to ensure renewals are completed, issued and the policies are received by the agent at least 30 or more days prior to the renewal date. Order and evaluate various reports to determine future underwriting actions including: renewing a risk with no changes, coverage modification and non-renewals.

Requirements

The candidate will require a BA/BS degree targeting Business or Insurance
3+ years of Property/Casualty insurance underwriting experience and possessing or currently pursuing a CPCU.
Without a degree the candidate will need 5+ of Property/Casualty underwriting experience and currently pursuing an AU or CPCU insurance designation.
The candidate will need to possess a demonstrated technical knowledge of commercial lines underwriting, be detail oriented, organized and able to handle multiple tasks to meet deadlines.
Ability to prepare and review underwriting information to assist in the underwriting of new & renewal small & medium Commercial business
A self-starter with a high level attention to detail, accuracy, and data integrity
Be willing to learn and work in a fast-paced environment, multi-task, and make quick decisions while maintaining underwriting integrity, yet maintain standards of quality and quantity of output as established by management
Ability to collaborate and work well within a team structure
Strong organizational, time management, oral & written communication skills
Strong computer skills including Microsoft Excel, Word, Outlook and Publisher; strong Excel and Word skills a must (Intermediate to Advanced)

Nice To Haves

Strong Small Business Program underwriting acumen and experience is preferred
Familiarity with new, highly intuitive, commercial lines rating and data systems and providers

Responsibilities

Manage the underwriting of the entire policy portfolio including Package, ISO BOP, WC, Auto and excess lines of coverage in accordance with the agency/fronting carriers growth, retention, rate, profitability and premium goals.
Work with fronting carrier to identify potential agency guideline deficiencies and opportunities.
Champion coverage and rate changes once identified and determined necessary, with fronting carrier and agency management.
Evaluate new and renewal exposures, limits, and issued policies to ensure compliance with underwriting guidelines and state regulations.
Manage policy referral to fronting carrier process to ensure completeness of submissions, complete understanding of issues necessitating referral, and timeliness of fronting carrier response.
Work with agent to ensure renewals are completed, issued and the policies are received by the agent at least 30 or more days prior to the renewal date.
Order and evaluate various reports to determine future underwriting actions including: renewing a risk with no changes, coverage modification and non-renewals.

Benefits

Incentive opportunities, based on role/grade level (rapid company growth over the past 5 years resulted in incentives being paid out at an average of 122% of your target opportunity!)
Generous 401(k) retirement savings plan with a fully vested matching contribution the first year in addition to quarterly contributions and annual discretionary contribution (once eligibility requirements have been met).
Over the past 5 years, company contributions (matching, quarterly & discretionary) for fully eligible employees have averaged 10.4% of total eligible compensation.
Comprehensive health coverage (medical, dental, vision and disability – up to 26 weeks short-term disability and long-term disability ) & life insurance benefits for you and your dependents
21 days of vacation immediately available (prorated in the first year) and up to 6 paid holidays depending on the month of hire
Your career at Ace is more than just a job. It’s a chance to be part of something meaningful.
We help locally-owned businesses thrive and make an impact in their communities – and we support our employees in doing the same by offering an annual Ace Cares Week, 20 hours off work per year to volunteer at an organization of your choice, opportunities to help Children’s Miracle Network Hospitals and the Ace Helpful Fund through the Ace Foundation
Ace invests in every employee we hire, with a key focus on development and coaching.
We offer on-site classes, facilitator-led courses, and a generous tuition assistance program, plus a performance management approach that goes beyond the typical annual review
We know the work environment matters. That’s why Ace holds frequent campus events like Employee Appreciation Week, vendor demos, cookouts, and merchandise sales
We bring them to you! Services such as mobile spas, auto maintenance, car wash and detailing, dry cleaning, dentists, eye doctors, flu shots, recycling and more!
Employee discounts on Ace merchandise (including top brands like Weber, Traeger, Yeti, Craftsman, DeWalt and more), travel, fitness, computers and thousands more
Birth/Adoption bonding paid time off
Adoption cost reimbursement
Employee Assistance Program (EAP) – access to free visits to therapists and lawyers, guidance on financial matters, elder and childcare, and assistance with tickets to entertainment events
Identity theft protection