Senior Underwriter - Chicago, United States - Old Republic
Description
Job Title:
Senior Underwriter
Business Unit:
Excess and SurplusFLSA Status: ExemptLocation: Remote
About Old Republic:
Old Republic International Corporation traces its beginnings back to 1923.
Old Republic is one of Americas 50 largest shareholder-owned insurance businesses and currently ranks among the Fortune 500 list of the Nations biggest companies.
Old Republic is primarily a commercial lines underwriter serving the insurance needs of a large number of organizations, including many of Americas leading industrial and financial services institutions.
Old Republic Excess & Surplus Inc. (ORE&S)Old Republic Excess & Surplus Inc.(ORE&S) is a new Division of Old Republic that specializes in Property and Casualty (P&C) business that is written on a non-admitted, Excess & Surplus Lines basis through appointed wholesalers.
Senior Underwriter Responsibilities:
The Senior Underwriter is responsible for the solicitation, selection, rejection, negotiation, and pricing of Casualty Risks that drive profitable growth and align with ORE&S appetite and mix goals.
He/She, will apply and use advanced technical underwriting concepts/skills including risk selection, exposure and hazard identification, internal and external data, loss analysis, sales and analytical tools to provide insurance solutions to ORE&S General Agents and Brokers and monitor and price new and renewal business according to company guidelines and authority.
ORE&S will have an office in Connecticut with future plans to expand in other States. Remote and hybrid work are available.Senior Underwriter duties will include, but are not limited to:
Responsible for identifying, soliciting, underwriting and selling new and renewal accounts that drive profitable growth and align with ORE&S appetite and mix goals.
Operates within a Letter of Authority for all underwriting decisions and with limited direction while managing a book of business, generally with high technical complexity and coordinationApply advanced technical, rating/pricing methodology components, underwriting concepts including risk selection, exposure and hazard identification, loss analysis, regulation, reinsurance costs, financial and competitive analysis.
Assist, implement, or develop new or revised forms, new coverages/classes, research, and underwriting guide revisionsOperates with a franchise perspective to identify and drive enhanced sell opportunities and create growth within other lines of business and customer segmentsManages portfolio of Casualty risks to achieve gross written premium, profitability, rate, retention, industry and LOB mix, new business and portfolio management goals.
Adjusts plan to ensure a substantial pipeline for future profitable growthKeeps current on state/territory issues, regulations, competitor information and trends.
Prioritizes and drives effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment for the most complex/prominent accounts.
Effectively utilize Claims, Risk Solutions and Operations to display service and/or technical expertise to build confidence in customers to further secure business opportunitiesAbility to work in dynamic, rapidly changing environment, adapting to changing requirements and collaborating with a wide range of colleagues to quickly deliver solutionsOpportunity to represent the company in a professional manner at industry functions, conventions, and corporate events10% - 20% Travel is required.
Experience/Required Skills:
Minimum 5 to 10 years of E&S Casualty underwriting experienceBachelors degree.
CPCU preferredStrong Underwriting Technical SkillsAdvanced negotiation and presentation skillsSelf-motivated individual with a proven track record of premium growth and profitabilitySuperior marketing skills and familiarity working with agents and brokers of all types.
Ability to analyze risk across a broad spectrum of industries.Comfortable with Reinsurance placementsStrong problem solving, reasoning and decision-making skills.
Excellent verbal and written communication skills.
Understanding of E&S rating methodologyProficiency with Microsoft (MS) Windows and Office products is necessaryOld Republic International ORI is an Equal Opportunity Employer.
ORI provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
Job Type:
Full-timeBenefits:401(k)
Dental insuranceHealth insuranceLife insurancePaid time offVision insuranceSchedule:
Monday to FridayAbility to Relocate:Chicago, IL 60601: Relocate before starting work (Required)
Work Location:
Hybrid remote in Chicago, IL 60601#J-18808-Ljbffr