Underwriting

Compensation Overview

The annual base salary range provided for this position is a nationwide market range and represents a broad range of salaries for this role across the country. The actual salary for this position will be determined by a number of factors, including the scope, complexity and location of the role; the skills, education, training, credentials and experience of the candidate; and other conditions of employment. As part of our comprehensive compensation and benefits program, employees are also eligible for performance-based cash incentive awards.

Salary Range

$105,500.00 - $174,100.00

1

Under general supervision, responsible for the profitability, growth and retention of assigned book of business within a territory that is consistent with overall business line objectives. Marketing and underwriting responsibilities typically include: Underwriting new and renewal business on accounts of moderate complexity. As a representative of the company, market to and develop relationships with agents and brokers. Working with other business units as appropriate to support market penetration objectives and seeking out cross-sell opportunities. Independently manages assigned territory. May occasionally seek assistance from a senior level Account Executive or manager on more complex accounts. Takes a portfolio view of their book of business to manage profitability. The incumbent in this job does not manage others.

Primary Job Duties & Responsibilities

Underwriting and Pricing:

• Underwrites primarily moderately complex accounts and risks and considers different approaches toward risks to maximize profitability (e.g., pricing, retention, endorsements, limits, indemnity, security.).
• Uses good judgment in making decisions within own underwriting authority and makes recommendations on other accounts to meet business objectives.
• Initiates collaborative discussions.

Distribution and Agency Management:

• Effectively manages assigned agents/brokers by developing and maintaining relationships to write and retain accounts consistent with business unit appetite.
• Frequently meets with agents/brokers and insureds in order to build and maintain business relationship.

Sales:

• Uses consultative marketing / sales skills and successfully employs a consultative selling approach to market products to agents and brokers.
• Identifies and captures new business opportunities and effectively cross sells market segment and Travelers products/businesses.
• Develops agency sales/business plan and frequently partners with MD to develop region/group sales plan.

Negotiation:

• Negotiates skillfully in difficult situations.

Executes Strategy and Drives Results:

• Develops and executes on a plan to meet business objectives.
• Anticipates and identifies moderately complex underwriting/marketing problems, thoroughly analyzes available information and makes timely practical decisions.

Business Planning and Collaboration:

• Fosters collaboration within the business unit and across the enterprise. Seeks enterprise-wide solutions to business problems.
• Assists less experienced employees when appropriate.

Leading Others:

• In addition to leading self, may coach less experienced staff members.
• May participate in the training of less experienced\ Account Executives.
• Other duties as assigned.

Minimum Qualifications

• 2 years of Account Executive/ underwriting experience required.

Education, Work Experience, & Knowledge

• Bachelors degree preferred.
• In some lines of business, relevant agent/broker experience may be appropriate.
• Typically has 3-5 years of relevant Account Executive experience.
• Previous Commercial underwriting experience preferred.

Industry/Business Knowledge:

• Understands the local insurance marketplace, industry business operations, critical issues and financial drivers that affect the region and local office.
• Continuously seeks out market insight and uses acquired knowledge to assist less experienced employees.

Product Knowledge:

• Understands organizational and regulatory rules, policies and procedures and effectively employs that knowledge in day-to-day work activities.
• Uses acquired skills and knowledge to assist less experienced employees.

Licensing or Certificates

• Valid drivers license or alternate means of personal transportation.
• CPCU designation preferred in some lines of business.

Job Specific Technical Skills & Competencies

Business Perspective:

• Uses knowledge of internal and external factors impacting the property & casualty industry to make decisions.

Analytical Thinking/Financial Acumen:

• Identifies current or future problems or opportunities, analyzes, synthesizes and compares information to understand issues, identifies cause/effect relationships and explores alternative solutions to support sound decision making.
• Understands and uses financial information, tools and expense management principles to accomplish day-to-day work and maximize profitability.

Relationship Management:

• Seeks out, builds, fosters and maintains productive relationships, networks or alliances to meet goals and achieve results.

Environmental / Work Schedules / Other

• Operates standard office equipment (Continuously)
• Sitting (can stand at will) (Frequently)
• Use of Keyboards, Sporadic 10-Key (Frequently)
• Driving (Occasionally)