Underwriting Specialist(Middle Market Private Equity)
About The Position
Under technical direction, the Underwriting Specialist underwrites risks in a book of business within specific authority limits, handling assignments requiring significant technical complexity and coordination. The role applies underwriting policies and guidelines, rating manual rules, and insurance laws and regulations. The position reviews complex applications and financial requirements, assesses risk acceptability, determines the need for additional evidence of insurability, and develops appropriate underwriting strategies. It sets pricing through financial and competitive analysis, prepares quotes, negotiates with agents, and communicates underwriting decisions and requirements. The specialist also analyzes portfolio quality and profitability, develops agency and broker relationships, stays informed about regulatory and industry developments, and uses CNA systems to manage daily work. The role may guide other underwriters and collaborates with senior underwriters or management on risks beyond its authority or requiring special handling. CNA may hire candidates into one of three Underwriter positions, including Underwriting Specialist or Underwriting Consultant, depending on experience and qualifications. The posting describes a typical related-experience range of 3–10+ years. The listed national base pay range for specified jurisdictions is $54,000–$103,000 annually. CNA offers a comprehensive benefits package; details are available at cnabenefits.com.
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 are preferred.
Responsibilities
- Review applications and financial requirements for risks requiring complex underwriting skills; determine risk acceptability, additional evidence of insurability needs, and underwriting strategy.
- Determine appropriate pricing using financial and competitive analysis while meeting compliance requirements.
- Prepare quotes, respond to questions from agencies, policyholders, and other external contacts, and escalate issues with proposed solutions when needed.
- 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 broker relationships.
- Provide guidance and assistance to other underwriters and functional areas, particularly on cross-sell opportunities.
- Stay current on state and territory issues and regulations, industry activity, and trends, and share information with others.
- Use advanced functionality in relevant CNA systems for day-to-day activities.
- Work with senior underwriters or management on risks exceeding the role’s authority or requiring special handling.
Benefits
- Comprehensive and competitive benefits package to support employees’ and family members’ physical, financial, emotional, and social wellbeing goals.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
