Sr. Consultant, Brokerage Excess Underwriting - E&S/Specialty

Nationwide Mutual Insurance•Scottsdale, AZ

4d•Remote

About The Position

Nationwide's Property and Casualty team is seeking a Senior Underwriting Consultant in Brokerage Excess. This role involves underwriting individual risks for acceptability, pricing, coverage, terms, and conditions for complex technical risks within the Excess Casualty line of business. The position requires achieving production and loss ratio goals with assigned brokers and program managers, reviewing claims and loss history, and making appropriate decisions. The role involves a high level of authority and judgment with minimal direction, including determining reinsurance placement. Fostering positive business relationships with co-workers, brokers, and reinsurers is crucial. Responsibilities also include research and development of new classes of business, market viability assessment, forms development, manual creation, reinsurance analysis, and assisting management with department strategies. Additionally, the role involves managing the workflow of assigned underwriters, employee coaching, development, and mentoring. In the absence of the Manager, the Senior Underwriting Consultant will have the authority to approve referrals exceeding lower-level underwriter authority and may represent the department in various committees and initiatives.

Requirements

Eight years CL underwriting experience handling large or complex accounts, excess & surplus lines experience preferred.
Knowledge of complex CL underwriting policies, practices and procedures, insurance law and underwriting/marketing principles and techniques.
Knowledge of Standard Bureau Rating plans and concepts such as catastrophe management.
Knowledge of Alternative rating methods and plans and pricing theory.
Knowledge of Treaty & Facultative reinsurance.
Knowledge of regulatory issues, the wholesale broker system, market conditions and company operations.
Ability to communicate effectively, verbally, and in writing, inter personally with individuals and groups via telephone, tele/video conference, fax, e-mail and in person.
Demonstrates advanced negotiation skills and ability to work as a project lead.
Ability to manage the line of business assigned, which may include monitoring of aggregates.
Ability to work with the wholesale broker system.
Ability to analyze highly complex insurance risks to determine acceptability including policy language, various commercial and alternative rating plans and methodologies, reinsurance.
Ability to use/learn job related computer software.
Ability to handle the most complex accounts.
Ability to devise business solutions to complex problems, implement the most appropriate, and monitor the effectiveness.
Ability to make decisions on highly complex issues and work with minimal direction.
Ability to analyze and interpret mathematical, statistical and logical data, and evaluate its reliability and significance.
Ability to apply market trends and competitor intelligence to underwriting approach.

Nice To Haves

Undergraduate degree preferred.
Completion of general insurance courses such as CPCU, CIC, AU, ARM, CPIW, CWIS, or ASLI is preferred.
Equivalent work experience will be considered in lieu of a degree.

Responsibilities

Underwrite individual risks for acceptability, pricing, coverage, terms and conditions, by developing, analyzing and evaluating information and exposures on risks of the most complex technical nature with the highest level of authority for the Excess Casualty line of business.
Achieve production and loss ratio goals with assigned brokers and program managers by reviewing and analyzing claims, loss history and taking appropriate action on accounts.
Determine appropriate reinsurance placement if any on individual accounts.
Foster positive business relationships with co-workers, brokers, and reinsurers.
Responsible for research, development and presentation of new classes of business including market viability forms development, manuals, available reinsurance and assisting the manager with department strategies.
Manage the workflow of assigned underwriters, employee coaching and development, and mentoring underwriters at all levels.
Approve referrals that exceed the authority of lower level underwriters in the absence of the Manager.
Represent the department in various division and company committees/initiatives.
Researches and develops new classes of business as directed.
Researches market trends and competition.
Assesses market viability, creates forms & endorsements, and develops rates with actuarial support.
On large, complex accounts, partners with Actuarial team to develop rates/pricing, Finance team to review potential insureds profitability profile and claims team to review SIR viability and potential frequency and severity of losses.
Reviews individual risks with assigned brokers and either declines or accepts business based upon information necessary to make the decision.
Analyzes, with the highest level of technical expertise and accuracy, exposures to loss, develops an adequate premium charge for the exposure, determines endorsements and exclusions to address loss exposures for the insurance contract, including developing manuscript wording appropriate to the risk.
Places reinsurance, if any, for the account within department guidelines.
Achieves team/individual production and loss ratio goals with assigned brokers through sound broker management and marketing.
Continually analyzes premium and loss results of assigned brokers; by state, major classes of business, etc.
Continually assesses quality of broker submissions and makes corrective action recommendations.
Oversees or handles policy maintenance items and other mid-term requests.
Reviews endorsement requests and authorizes necessary changes to the policy.
Reviews Loss Control reports and recommendations; partners with the broker to ensure loss control compliance.
Follows up on outstanding information as required.
Reviews claim activity and takes appropriate action.
Fosters positive business relationships with brokers, through frequent contact.
Develops and maintains good rapport and resolves broker conflicts.
Travels to broker offices as required for training or marketing visits.
Entertains brokers visiting the Company as required.
Assists with development of marketing ideas and strategies for Underwriting events and other marketing campaigns.
Demonstrates a thorough understanding of facultative reinsurance and places reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaty, semiautomatic and facultative reinsurance.
Maintains good working relationship with reinsurers.
Responsible for the resolution of technical questions of the highest complexity.
Proactively develops technical and business knowledge through internal and external venues.
Teaches classes to build technical underwriting knowledge to brokers, SSU students and other underwriters.
Mentors new and existing underwriting talent.
May perform other responsibilities as assigned.