Small CL Portfolio Underwriter
About The Position
The Hanover's Small Commercial Underwriting department is seeking a Portfolio Underwriter to join the team. This is a Full-time, Exempt role, eligible for a hybrid or fully remote work arrangement. Portfolio Underwriters are responsible for the underwriting, retaining, and servicing of renewal accounts within the Small Commercial business unit. They partner with production underwriters and field leadership to investigate and promote franchise value opportunities, including cross-selling and up-selling for renewal accounts. They also engage in producer management of assigned agency plants and act as the owner of individual renewal portfolio profit and loss performance. The Portfolio Underwriter works closely with their Underwriting Technician partner to ensure efficient and effective policy underwriting while meeting service standards and performance goals.
Requirements
- Bachelor’s degree preferred
- 1+ years of renewal underwriting experience
- Strong underwriting skill and coverage knowledge
- Ability to make underwriting decisions on multi-line accounts up to $50,000 premium size (and higher)
- Underwriting systems knowledge to document and underwrite accounts within workflow expectations
- Strong relationship building, teamwork and collaboration skills with both internal and external partners
- Knowledge of competition and current marketplace
- Must understand Small CL goals and strategies and execute on them effectively
- Positive track record of achievement
Responsibilities
- Underwrites and manages Commercial Lines renewal business for respective agency assignments, including individually underwriting and servicing non-bypass accounts in their assigned portfolio.
- Responsible for adequately pricing exposures in line with Retention and New Money objectives, contributing to target profit and loss metrics for the assigned portfolio.
- Contributes to portfolio mix in accordance with corporate mix targets.
- Handles endorsements that fall outside of the endorsement authority letter of Rating or Renewal UTs.
- Handles cancellations that fall outside of the scope of Renewal UTs.
- Effectively delivers renewal quotes at appropriate thresholds in a professional manner, including quote proposals, cross sells, upsells, and segment expertise awareness.
- Provides product knowledge transfer to agents to enable them to effectively sell Hanover.
- Actively interacts with internal and external customers to enhance business relationships and improve retention ratios.
- Effectively presents a clear and consistent underwriting appetite to the production force.
- Operates within the scope of the assigned authority statement.
- Coordinates with relevant colleagues to effectively manage renewal activities and retention on handled accounts.
- Involved in agency management strategies, reviews, results reporting, profiling, tactics, activities, and staff meetings, as appropriate.
- Participates in field visits and/or territorial marketing events to enhance corporate/local strategy and agency relationships.
- Coordinates with New Business UWs and SCSMs to present a united front on account/agency strategies and decisions.
Benefits
- Medical, dental, vision, life, and disability insurance
- 401K with a company match
- Tuition reimbursement
- PTO
- Company paid holidays
- Flexible work arrangements
- Cultural Awareness Day in support of IDE
- On-site medical/wellness center (Worcester only)
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
