Underwriter Specialty, Hanover Specialty Industrial

The Hanover Insurance Group•Indianapolis, IN

90d•$70,000 - $100,000

About The Position

Hanover Specialty Insurance is seeking an Underwriter to identify, solicit, and underwrite renewal Specialty accounts that support profitable growth and align with industry segments, underwriting appetite, and portfolio mix goals. The role applies advanced technical, sales, and analytical skills to provide insurance solutions that help customers manage risk. The Underwriter uses internal and external data to make individual and portfolio risk decisions, works within a broad Letter of Authority, and manages an assigned book of business with limited direction. The work generally involves high technical complexity and coordination. The Underwriter manages portfolio and financial objectives, develops and executes business plans, builds profitable agency relationships, and identifies cross-sell and growth opportunities. The position also supports agents through product training and knowledge transfer, and applies judgment to underwriting decisions, pricing, risk assessment, and coverage recommendations. This is a full-time, exempt role.

Requirements

Bachelor’s degree or equivalent experience.
At least 3 years of underwriting experience.
At least 3 years of experience driving agency relationships that result in profitable renewal business.
Consistent proficiency across line-of-business underwriting core competencies.
Ability to identify, analyze, and solve problems and manage and prioritize multiple concurrent projects.
Ability to collaborate as a resource on complex risks, pricing, trends, industry segments, coverages, and product knowledge.
Ability to adapt to change, influence others, and support new ways of thinking.
Strong communication, judgment, decision-making, negotiation, teamwork, and collaboration skills.

Nice To Haves

May specialize in or obtain certification in one or two specialty areas.
Experience conducting peer-to-peer self-audits under management direction.
Experience mentoring less-experienced or newly hired underwriters and assisting with team training.

Responsibilities

Understand and apply the business strategy, including segments, coverage differences, and partner and non-partner approaches.
Apply advanced underwriting concepts, including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis.
Apply pricing components and rating methodologies, relating pricing to exposure, financial analysis, and competitive analysis.
Adhere to catastrophe guidelines and apply catastrophe aggregation strategies in underwriting decisions.
Identify coverage types and potential coverage gaps; explain coverage, exposures, and controls to agents.
Manage the assigned portfolio to achieve written premium, profitability, rate, retention, industry and line-of-business mix, new business, and portfolio-management goals.
Build long-term, profitable relationships with agencies, internal management, and external resources; serve as a resource and leverage relevant competencies.
Independently construct and execute portfolio business plans through organized workflow and desk management, including special projects as appropriate.
Review key metrics and identify trends that may create agent business opportunities while pursuing profitable growth.
Drive profit-improvement initiatives with key agents by leveraging available resources.
Coordinate with Specialty departments to share knowledge and identify cross-sell opportunities for the assigned book of business.
Identify and pursue sales opportunities across other lines of business and customer segments.
Use the company value proposition to improve agency economics, partner conversion, and product specialization with local management.
Manage producer relationships and activities to build trust, negotiate, secure commitment, and improve yield and retention.
Engage with customers through stewardship for the most complex and prominent accounts in the territory.
Independently implement territory business plans, monitor performance, and adjust plans to maintain a substantial pipeline for future profitable growth.
Train existing and prospective agents and transfer product knowledge so they can effectively sell Hanover products.
Uncover customer needs, position solutions, handle objections, and close deals.
Share expertise with peers, management, and leadership; act as an informal team, branch, regional, or line-of-business leader and mentor less-experienced or newly hired underwriters.
Communicate and collaborate with internal and external business partners, influence outcomes, exercise sound judgment, and escalate decisions when appropriate.

Benefits

Medical insurance
Dental insurance
Vision insurance
Life insurance
Disability insurance
401(k) with company match
Tuition reimbursement
Paid time off (PTO)
Company-paid holidays
Flexible work arrangements
Cultural Awareness Day in support of IDE
On-site medical/wellness center in Worcester
Career development through on-the-job experiences, personalized coaching, and learning and development programs
Potential annual bonus, sales incentive, short-term incentive, long-term incentive, or spot recognition awards