Underwriting Specialist, Cyber

CNA Insurance • New York, NY

1d • $54,000 - $103,000 • Hybrid

About The Position

Under technical direction, the Underwriting Specialist is responsible for underwriting risks in a book of business. The role works within specific limits of authority on assignments requiring significant technical complexity and coordination, applying underwriting policies and guidelines, rating manual rules, and insurance laws and regulations.

The position reviews and evaluates complex risks, determines acceptability and pricing, prepares quotes, negotiates with agents, and maintains agency and broker relationships. It analyzes the quality and profitability of underwritten risks, keeps current on regulatory and industry developments, and uses CNA systems to conduct daily work. The specialist may assist other underwriters and functional teams and collaborates with senior underwriters or management on risks that exceed their authority or require special handling.

Requirements

• Advanced knowledge of underwriting and insurance industry theories and practices.
• Demonstrated high level of technical expertise and product-specific knowledge.
• Strong interpersonal, communication, and negotiation skills, including the ability to interact effectively with internal and external business partners at all levels.
• Ability to work independently.
• Strong analytical and problem-solving skills.
• Ability to exercise independent judgment and make critical business decisions effectively.
• Knowledge of Microsoft Office Suite and other business-related software.
• Demonstrated leadership skills.
• Bachelor's degree or equivalent experience.
• Typically, a minimum of three to five years of underwriting experience.

Nice To Haves

• Professional designations preferred.

Responsibilities

• Review applications and financial requirements for risks requiring complex underwriting skills; determine risk acceptability under company guidelines and standards, additional evidence of insurability needs, and appropriate strategy.
• Determine appropriate pricing based on financial and competitive analysis and compliance requirements.
• Prepare quotes and answer questions from agencies, policyholders, and other external contacts; escalate issues to management with proposed solutions as needed.
• Negotiate with agents to achieve positive and profitable outcomes.
• Notify agencies of adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations.
• Analyze the quality, quantity, and profitability of underwritten risks and prepare reports for management review.
• Market products and services through agencies or the brokerage community, make field visits, and develop and maintain agency and/or broker relationships.
• Provide guidance and assistance to other underwriters and functional areas, particularly on cross-sell opportunities.
• Keep current on state and territory issues and regulations, industry activity, and trends, and share relevant information with others.
• Use advanced functionality in relevant CNA systems to perform day-to-day activities.
• Work with more senior underwriters or management on risks exceeding authority or requiring special handling.

Benefits

• Comprehensive and competitive benefits package intended to support employees' and family members' physical, financial, emotional, and social wellbeing.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level