Underwriting Specialist - Contract Surety

CNA Insurance • Charlotte, NC

1d • Hybrid

About The Position

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

The position reviews applications and financial requirements, evaluates risk acceptability, determines whether additional evidence of insurability is needed, and develops appropriate underwriting strategies. It sets pricing based on financial and competitive analysis and compliance requirements, prepares quotes, responds to external inquiries, negotiates with agents, and communicates underwriting decisions and requirements. The Underwriting Specialist also analyzes the quality and profitability of the risks underwritten, markets products and services through agencies or brokers, develops business relationships, and may guide other underwriters and functional areas. The role keeps current on regulatory and industry developments and uses advanced functionality in relevant CNA systems. Risks that exceed the role’s authority or require special handling are addressed with more senior underwriters or management.

The position reports to a Manager or Director. The stated title may change based on experience and skillset; alternate titles include Underwriter and Underwriting Consultant.

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, with the ability to interact effectively with all levels of internal and external business partners.
• 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 in accordance with company guidelines and standards, including the need for additional evidence of insurability and an appropriate strategy.
• Determine appropriate pricing based on financial and competitive analysis in line with compliance requirements.
• Prepare quotes and respond to questions from agencies, policyholders, and other external contacts; escalate issues to management with proposed solutions as necessary.
• Negotiate with agents to reach 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 other functional areas, particularly regarding cross-sell opportunities.
• Keep current on state and territory issues and regulations, industry activity, and trends, and share 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 level or requiring special handling.

Benefits

• CNA offers a comprehensive and competitive benefits package intended to support employees' and their family members' physical, financial, emotional, and social wellbeing goals.

What This Job Offers

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