Executive Underwriter, Inland Marine
About The Position
The Hanover Marine team is seeking a sales-minded, collaborative, and dynamic Executive Underwriter to join its team. This is the most experienced underwriting position and may focus on production goals or supporting territories in underwriting excellence. The role typically holds the highest level of underwriting authority and works with leadership to advance underwriting and portfolio quality, sales and operations excellence, talent development, and strategy development and execution. It provides technical insight and guidance to local teams and leaders on accounts and territorial strategy execution. The Executive Underwriter handles new business, renewal business, and endorsement referrals; pursues growth and profitability targets; develops agency relationships and business opportunities; manages the territory portfolio; and supports underwriting excellence and junior underwriter development. The role is based in Bloomington, Minnesota, Brookfield, Wisconsin, or Iowa, and is a full-time, exempt, hybrid opportunity. Travel by plane or car may be required.
Requirements
- Bachelor’s degree or equivalent experience.
- At least 10 years of Inland Marine underwriting experience, with broad underwriting experience across numerous classes of business.
- Strong proficiency and specific knowledge in underwriting, book management, marketing, and product development.
- Ability to coach underwriters and balance multiple priorities in a dynamic, fast-paced environment.
- Excellent communication skills, including face-to-face interactions, group presentations, phone skills, and written communication with strong follow-through.
- Demonstrated ability to collaborate and influence across organizational levels, including senior and field management and underwriters.
- High degree of business, insurance, and marketplace knowledge.
- Ability to travel by plane or car as needed.
Nice To Haves
- Professional designations.
Responsibilities
- Underwrite new business, renewal business, and endorsement referrals.
- Achieve financial targets for overall growth and profitability and drive execution of plans to achieve results.
- Collaborate with and provide oversight to junior underwriting staff on portfolio management and strategic underwriting decisions.
- Assure compliance with corporate and regulatory requirements and identify underwriting issues to maintain underwriting discipline.
- Develop new business opportunities with new and existing agents, build strong partnerships, and promote The Hanover franchise.
- Provide input to broader strategy formulation and focus on execution of strategies.
- Identify and drive business opportunities and growth across other lines of business and customer segments.
- Use the company value proposition to enhance agency economics, partner conversion, and product specialization in partnership with local management.
- Manage producer relationships and activities to build trust, facilitate negotiation, secure commitment, and improve yield and retention ratios.
- Engage customers on the most complex and prominent accounts in the territory.
- Implement territory business plans independently, monitor performance, and adjust plans to maintain a substantial pipeline for future profitable growth.
- Work with distribution and field leadership to develop business opportunities and liaise regularly with the BDM function.
- Coach field underwriters on industry-specific selling techniques.
- Collect market intelligence on price, products, and services and advocate for changes as needed.
- Assist with developing product capabilities, emerging market opportunities, and growth opportunities.
- Manage the assigned territory portfolio with guidance from the Leader.
- Provide input to and feedback on Portfolio, Distribution, and Infrastructure strategy.
- Analyze industry financial performance and proactively manage portfolio results, recommending corrective action as needed.
- Gather local intelligence to inform product, service, and appetite improvements.
- Respond proactively to regulatory and legal developments and maintain awareness of competitors, trends, and emerging issues.
- Monitor underwriting results for assigned regions and recommend actions to improve profitability.
- Review key metrics and identify trends that may lead to agent opportunities while pursuing profitable growth in line with business strategies.
- Prepare or analyze information on adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations to drive territorial results.
- Understand how business strategy changes affect financial results, including loss ratios, premium, retention, non-rate strategies, and book mix strategies.
- Keep current on state and territory issues, regulations, and trends.
- Support execution of profit improvement initiatives with key agents.
Benefits
- Medical insurance
- Dental insurance
- Vision insurance
- Life insurance
- Disability insurance
- 401(k) with company match
- Tuition reimbursement
- Paid time off
- Company-paid holidays
- Flexible work arrangements
- Cultural Awareness Day in support of IDE
- On-site medical/wellness center (Worcester only)
- On-the-job experiences, personalized coaching, and learning and development programs
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What This Job Offers
Job Type
Full-time
Career Level
Senior
