Underwriter 3

AAA • Coppell, TX

8d

About The Position

This position performs duties of determining acceptability and proper rating of insurance risks in one or more states and more than one product by reviewing appropriate documents and analyzing risk using independent judgement to render decisions. The decision process uses subjective underwriting judgement along with policies/practices and Exchange Underwriting guidelines. The decisions incorporate a policy review from a package standpoint of weighing risk in totality with other products carried. In addition, this position requires thorough knowledge of Reinsurance requirements as it relates to Personal Umbrella risks. Thorough knowledge of Insurance regulations and practices is also required.

Requirements

• Bachelors
• Equivalent combination of education and experience
• 7-9 years Progressive experience in the insurance industry; preferably personal lines.
• Required Problem solving, decision making and analytical skills. (Medium proficiency)
• MS Office applications (Medium proficiency)
• Communication skills both written and verbal (Medium proficiency)
• Organizational and time management skills required. (Medium proficiency)
• Interpersonal skills in working in a group environment (Medium proficiency)

Nice To Haves

• Chartered Property Casualty Underwriter - Insurance Institute of America

Responsibilities

• Determine acceptability of new insurance risk based on analysis of supplied and available information.
• Determine acceptability and rate level adequacy by enforcing rating plan.
• Also determine acceptability of continued coverage of existing risks when there is substantial change to the initial risk exposure.
• This process will incorporate the policy review from a package standpoint of weighing risk in totality with other products carried.
• Develop necessary supplemental information to assist in the determination of acceptability by obtaining information from previous insurance carrier or direct contact with insureds and sales agents.
• Also develop supplemental information for underlying policies to the Umbrella product that are retained with another company and/or obtaining proof for business liability exposures
• Provide support as necessary to underwriters for problem resolution.
• Grant exceptions to underwriting criteria using Individual Risk Underwriting.
• Oversee the acceptance and/or declination of complex underwriting risks.
• Schedule or assign work as needed within the unit and review as necessary work output of underwriters.
• Modify risks for acceptability or determine restrictive action on new and inforce policies.
• Assess underwriter productivity and evaluate outputs.
• Conduct periodic re-audits and work reviews of underwriters and evaluate accuracy results and education needs.
• Assist in training unit underwriters.
• Communicate underwriting philosophy and decisions to Sales Agents for both the Exchange and Re-insurer while continuing to build good rapport and relationship between Sales and Underwriting
• Inform insureds of rejections, modifications or restrictive actions on policies in writing.
• Also respond to inquiries from insureds/sales agents regarding those actions/restrictions.
• Respond in writing and/or by phone to inquiries from the Department of Insurance and Executive complaints within the required response time goal
• Terminate or decline new or in force insurance for umbrella policies based on underlying policy information including the declination of new or in force, Auto, Property and Watercraft policies
• This position is the third level Underwriting position and requires ability to work autonomously.
• Underwriting decisions are made independently using knowledge of underwriting criteria and insurance rules/regulations.
• Decisions are not routine but are based on many different factors for each product line, in addition overall weighting of the package policy including the Umbrella must be thought through when taking underwriting action.
• Thorough knowledge of how the risk/package policy will affect the Exchange loss ratio is a must in the decision making process.
• Some decision factors are: Risk exposure per product line Risk exposure when reviewing entire package Longevity of Insured/Member Number of products insured Reinsurance requirements and guidelines

Benefits

• Health coverage for medical, dental, vision
• 401(K) saving plans with company match AND Pension
• Tuition assistance
• Floating holidays and PTO for community volunteer programs
• Paid parental leave
• Wellness programs
• Employee discounts (membership, insurance, travel, entertainment, services and more!)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1-10 employees