Senior Property Underwriter - ICAT
Location: Broomfield, Colorado, United States
Company: MarshJob ID R_054927-en Apply
Looking to join a dynamic team in the insurance industry? ICAT is looking for a Sr. Property Underwriter to join their team in Broomfield, Colorado!
Job Responsibilities -
- Meets annual new business production goal, within required risk metrics.
- Underwrites and prices accounts in accordance with ICAT’s underwriting standards, personal underwriting authority level, and ICAT’s General Agency Agreements (GAA).
- Meets all file documentation standards, complies with underwriting and authority level standards, and passes all audits (both internal and external).
- Responsible for monitoring production, hit ratios, renewal retention ratios spread of risk, and other production and quality measures.
- Reviews and approved Inspection Review findings and recommendations on new business bound; works with UW operations on determining action required.
- Works with assigned Underwriting Assistant on monthly renewals, providing guidance and pricing and best options to market.
- Responsible for conducting regular and periodic underwriting self-review.
- Clear understanding of ICAT’s commercial and residential products and business models. Strong understanding on the differences between ICAT’s small commercial and its Middle Market products and business practices. Is able to speak specifically about ICAT’s small commercial product and is able to effectively perform external ICAT Online website training.
- Possesses a working knowledge of all of ICAT’s products and.
- Demonstrates a clear understanding of ICAT’s forms and endorsements the requirements of the GAA, ICAT’s rating methodology, ICAT’s reinsurance contracts and Carrier Partner guidelines/appetite. Thorough understanding of ICAT’s UW guidelines and situational application.
- Demonstrates strong understanding and application of various non-standard manuscript forms required on more complex accounts; as well as understands the business needs and approaches for more complex, layered accounts.
- Strong understanding of middle market underwriting systems (automated and manual) and utilizes these systems consistently and as required.
- Responsible for a set of producer offices; is the primary point of contact for that producer and may own the delivery of Office goals if working in a relationship manager capacity.
- Effectively develops and builds business opportunities from assigned offices through a variety self-directed actions.
- Gathers market data for new markets, products, and or segments and works with the team to identify new production opportunities and competitor activity through visit reports and Salesforce.
- Effectively advocates for or sponsors product and pricing changes to meet market needs, with a balanced approach that keeps in mind both Sales, UW and broader company objectives.
- Effectively negotiates on ICAT’s behalf.
- Works to establish regional or national production budgets and effectively supports this at the office level.
- Works with the team to manage regional underwriting results including regional modeled results, spread of risk initiatives, and concentration of risk controls.
- Mentors less experienced underwriting personnel on market conditions, competitors, relationship management, etc. Provides informal and formal underwriting training as required.
- Initiates and executes projects. Responsible for defining business need, project scope, resources required and achieving deliverables.
- Maintain knowledge of and support ICAT’s company values and strategic plan.
- Work is generally scheduled Monday through Friday with some evening, weekend and holiday hours.
Preferred Job Qualifications -
- BA degree in insurance, business or related field preferred.
- 5+ years of progressive underwriting experience within the commercial property insurance industry.
- 7+ years of progressive customer service and/or agency management experience within the insurance industry.
- Strong mathematical and analytical aptitude.
- Proven underwriting, sales and agency management skills.
- Oral and written communication including formal and informal presentation skills.
- Ability to underwrite large more complex accounts, including knowledge of commercial property forms, pricing and rating methodology, modeling and valuation tool.
- Ability to manage agency relationships and production.
- INS or CPCU Certification preferred.
Founded in 1998 and based in Broomfield, Colorado, ICAT is a leading provider of property insurance protection to homeowners and businesses located in hurricane- and earthquake-exposed regions of the United States. ICAT draws from highly specialized underwriting expertise and advanced technology tools to offer brokers and their clients market-leading catastrophe coverage. Along with its subsidiary, Boulder Claims, ICAT’s inherent promise to policyholders is to assist people and businesses as they recover from disasters. ICAT programs currently protect over 85,000 homeowners and business owners in catastrophe-exposed regions of the US.