The Senior Underwriter will evaluate complex risks for member-owned group captives, assess loss history and loss development, pricing, underwriting, including hazard analysis and rate and class. Understand the financial consequences for the captive. Understand large account pricing for mainly casualty risks, including Workers’ Compensation, General Liability and Auto. This position will support development of new programs, renewal business, successfully analyze carrier coverage and restrictions, quantitative statistical data, trends, and strategies.
ESSENTIAL EDUCATION AND EXPERIENCE:
Bachelor’s Degree in Statistics, Business Administration, Math, or in a related discipline. At least eight (8) years of experience in insurance underwriting with a variety of industries and lines of insurance. CPCU preferred.
SKILLS/COMPETENCIES REQUIREMENTS:
- Understand casualty coverages and endorsements, complex concepts, methods and applications, including but not limited to casualty lines including Workers’ Compensation, General Liability and Commercial Auto.
- Ability to manipulate, dissect and interpret large amounts of data
- Understand ISO and other Rating Bureaus rating and pricing, along with different actuarial techniques.
- Works well independently and in a team environment
- Excellent Interpersonal skills
- Strong written and verbal communication skills
- Advanced in Excel and other statistical programs, proficiency in PowerPoint, Word, and other on-line computer systems
- Experience working with captive insurance companies
- Strong analytical and critical thinking
- Strong customer service orientation
- Intellectually curious
- Commitment to company values
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Evaluate and develop a loss triangle.
- Make recommendations based on the data contained within the triangle and be able to communicate internally and externally to brokers.
- Evaluate the profitability of an individual captive for a fronting carrier/reinsurer – overall and by line of business.
- Ability to research endorsements and perform coverage comparisons
- Ability to aggregate information and analyze endorsements
- Evaluation the profitability of a portfolio of captives for a carrier that has multiple captives placed with us
- Perform analyses that would support change of funding limits and or total retention for a captive
- Conduct insurance risk assessments
- Monitor market for current prices and prepare competitive analysis
- Oversee work across captives and update past loss studies, i.e. workshop and RCA correlation to losses, reduction in fatalities, etc.
- Prepare reports and present results to clients and management
- Liaison with Actuarial Firm
PRIORITIES:
Casualty coverages, analytics, Interpersonal and Communication skills, and risk assessments
