Senior Underwriter - Contrac Pac (Peoria, IL or Eagan, MN)
About The Position
Under general oversight, this role involves underwriting new or renewal accounts and building strong relationships with producers, reinsurers, and contacts. The position requires ownership and responsibility to review complex sources of profit by selecting appropriate risks. Additionally, the role is responsible for increasing submission flows. RLI is a company that prides itself on being different, fostering a culture of shared passion for going beyond the expected to forge relationships and deliver care that makes a difference. As an employee-owned company, RLI has a strong financial track record and a reputation as an excellent underwriting company.
Requirements
- Bachelor's degree in insurance, finance, risk management, business or a related field, or equivalent level of education and experience.
- Minimum of 5+ years of related 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.
- Has typically obtained letter of authority.
- Has a good understanding of the markets and clients being serviced.
- Has some authority to process approval, issuance, or change requests for policies.
- Works on slightly more complex risks than UW I and has obtained higher level of authority.
- Presents solutions to management on non-standard issues without prior oversight or guidance from manager.
- Ability to know proper sign off & correct UW judgement in most cases.
- Possess a thorough understanding of the internal processes of the product and displayed understanding of loss rating/credibility.
- Working toward building and maintaining a profitable book of business.
Nice To Haves
- Participates in underwriting related continuing education.
- Ability to generate innovative solutions within the underwriting department.
Responsibilities
- Analyze, evaluate, accept, decline, rate, quote, and bind new or renewal submissions with high premium or risk exposure.
- Build strong relationships between agents, reinsurers, and contacts.
- Review complex submissions, account losses, pricing models, and profitable premiums.
- Review complex sources of profit by selecting appropriate risks.
- Assist with special projects or 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)
- 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
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What This Job Offers
Job Type
Full-time
Career Level
Senior
