Vice President, Underwriting - Umbrella

Bitco Insurance Companies•Davenport, IA

17d

About The Position

BITCO Corporation is currently seeking a Vice President, Underwriting - Umbrella Line of Business Officer to join our Underwriting team in Davenport, IA. BITCO provides quality insurance services to special industries including construction, forest products, and oil & gas. Position Summary: This position is responsible for the development and execution of strategic level Underwriting plans and objectives relating to the Commercial Umbrella and Excess line of business.

Requirements

Bachelor's degree in Finance, Insurance, Risk Management, or other Business related field preferred; or equivalent experience
Minimum 8 years of experience with Property and Casualty Underwriting, specially underwriting the Umbrella or Excess line of business
Knowledge of facultative reinsurance placement practices
Excellent verbal and written communication, as well as presentation skills
Strong attention to detail and excellent time management skills, with ability to timely and accurately organize, prioritize, and complete responsibilities.
Strong knowledge of commercial Underwriting processes, coverages, and best practices
Proven ability to exercise sound business judgement and decision making skills
Strong analytical and problem-solving skills, with proven ability to make effective, data driven decisions
Proficient with Underwriting software, Microsoft Office Suite, or related software

Nice To Haves

Preferred Umbrella or Excess line of business portfolio management experience

Responsibilities

Underwrite, service, and manage a growing portfolio of Commercial Umbrella and Excess business while achieving growth and profitability targets.
Lead, manage, and oversee Commercial Umbrella and Excess line of business, including the planning and achievement of underwriting goals in each program of business in collaboration with Program Managers
Fully utilize underwriting and pricing tools to analyze risks and properly document underwriting decisions
Establish and maintain relationships with all stakeholders both internally and externally
Collaborate with various departments within BITCO including underwriting, claims, actuarial, regulatory compliance, and accounting
Collaborate with the Program Managers to determine the acceptability of offering Umbrella or excess limits and the most advantageous limit, condition and pricing structure to fit the needs of the customer, keeping BITCO's goals of profitable growth as the guiding principal
Be responsible for the Facultative placements either on a primary policy or umbrella/excess policy
Represent BITCO at line of business meetings with other subsidiary companies, reinsurers, or broker meetings
Ensure adherence to required compliance and best practice line of business standards including proper policy construction and file documentation
Serve as a strategic partner for local Underwriting teams, offering technical expertise, providing training and needed resources
As the Line of Business Officer, develop forms, rates and conditions, and guidelines for the Commercial Umbrella and Excess programs.
Participate in varying levels of long-term planning at the functional or organizational level
Responsible for planning, setting, and meeting financial targets or budgets within areas of oversight
Presents periodic performance reports and metrics to senior leadership.
As a management representative, consistently acts in the best interest of BITCO and provides leadership and communication to actively promote BITCO's mission, values, and culture