Personal Lines Underwriter

Oklahoma Farm Bureau Insurance Company•Oklahoma City, OK

13d•$40,000 - $60,000•Onsite

About The Position

Reviews insurance applications to evaluate, classify, and rate each risk to determine acceptability, coverage, and pricing by performing the following duties. Pay:$40,000-60,000K Salaried -- Benefits 401K, PTO Essential Duties and Responsibilities include the following. Other duties may be assigned. Examines documents such as application forms, inspection reports, insurance maps, and past claims to determine degree of risk from such factors as applicant financial standing, loss experience, and value and condition of property, and vehicles per company guidelines and authority level. Determines whether to accept, modify, or decline risks. Interpret premium classes and apply rating structure to achieve proper premiums for loss exposures. Processes all rewrites, reinstatements and other work items per company guidelines and authority level. Continually review all policies, applications, and change requests to determine that proper premiums and classifications are maintained. Communicate (via primarily through email but may communicate through correspondence, telephone, or personal visit) with agents, insureds, company personnel, and other insurance or inspection companies to obtain further information, quote rates, or explain company underwriting policies. Counsel with agents and CSR’s regarding desirable and undesirable risks; and continually communicate company underwriting practices. Monitor loss ratios and strive for improvement by communicating/coordinating managers and supervisors, agents, adjusters, etc. concerning the selection of business and the improvement of Agents and/or underwriting quality. Report any unusual problems or conflicts encountered in the course of performing underwriting duties to the Personal Lines Underwriting Manager; submit any information or reports that may be requested by upper management.

Requirements

Bachelor's degree (B. A.) from four-year college or university; and/or completion of the Insurance Institute of America Certificate in General Insurance; or equivalent combination of education and experience.
Ability to read, analyze, and interpret insurance policies, technical journals, financial reports and legal documents.
Ability to write reports, business correspondence, and procedure manuals.
Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
Ability to apply concepts of basic algebra and geometry.
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.
Ability to respond to incoming inquires or complaints from insureds and regulatory agencies.
extensive knowledge of computers and computer systems.
Must be detail oriented and have excellent communication skills.
Must have the ability to work with people and solve problems.
Typing/10-key skills required.
Worker is expected to maintain regular attendance.

Nice To Haves

Previous underwriting experience preferred.
Worker is expected to participate in continuing education program(s) if needed.

Responsibilities

Examines documents such as application forms, inspection reports, insurance maps, and past claims to determine degree of risk from such factors as applicant financial standing, loss experience, and value and condition of property, and vehicles per company guidelines and authority level.
Determines whether to accept, modify, or decline risks.
Interpret premium classes and apply rating structure to achieve proper premiums for loss exposures.
Processes all rewrites, reinstatements and other work items per company guidelines and authority level.
Continually review all policies, applications, and change requests to determine that proper premiums and classifications are maintained.
Communicate (via primarily through email but may communicate through correspondence, telephone, or personal visit) with agents, insureds, company personnel, and other insurance or inspection companies to obtain further information, quote rates, or explain company underwriting policies.
Counsel with agents and CSR’s regarding desirable and undesirable risks; and continually communicate company underwriting practices.
Monitor loss ratios and strive for improvement by communicating/coordinating managers and supervisors, agents, adjusters, etc. concerning the selection of business and the improvement of Agents and/or underwriting quality.
Report any unusual problems or conflicts encountered in the course of performing underwriting duties to the Personal Lines Underwriting Manager; submit any information or reports that may be requested by upper management.