Inland Marine Sr. Underwriter
About the role
The Hanover is a company dedicated to delivering on its promises and fostering a sustainable, inclusive environment. We seek a Senior Underwriter to join our team in Illinois. This is a full-time, exempt position offering a hybrid schedule. Ideal candidates are Inland Marine Underwriting professionals looking to contribute to a dynamic and collaborative team.
Responsibilities
- Identify, solicit, underwrite, and sell new and renewal Specialty accounts to drive profitable growth and align with Industry Segments, appetites, and mix goals.
- Apply advanced technical, sales, and analytical skills to provide insurance solutions that help Hanover's customers manage risk.
- Make appropriate individual and portfolio risk decisions using internal and external data.
- Manage an assigned book of business with high technical complexity and coordination, operating within a broad Letter of Authority.
- Operate with a franchise perspective to identify and drive enhanced sell opportunities and create growth within other lines of business and customer segments.
- Utilize our value proposition to enhance agency economics, partner conversion, and product specialization in partnership with local management.
- Implement territory business plans, monitor performance, adjust plans to ensure a substantial pipeline for future profitable growth.
- Provide proper training and product knowledge transfer to existing and prospective agents so they can effectively sell Hanover as the go-to market for their customers.
- Make sales presentations to agents and customers on a regular basis, handling objections and closing deals.
Requirements
- Bachelor’s Degree or equivalent experience
- 5-7+ years of Inland Marine underwriting experience
- 5-7+ years experience driving agency relationships resulting in profitable new and renewal business
- High level of proficiency across Marine Underwriting core competencies
- Ability to identify, analyze, and solve problems and manage and prioritize multiple concurrent projects
- Adapts quickly to change, exercises influence, and acts as a change advocate
- Shares knowledge and expertise with peers, management, and leadership
- Acts as a mentor for less experienced underwriters or newly hired underwriters
- Ability to travel as needed
Qualifications
- Thorough knowledge and understanding of business strategy
- Advanced knowledge of pricing components and rating methodology
- Knowledge of CAT guidelines and aggregation strategies
- Ability to identify types of coverages and gaps in coverages
- Constructs and executes portfolio business plans independently
- Reviews key metrics and uncovers trends leading to new business opportunities
- Drives profit improvement initiatives with key agents
- Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, industry and LOB mix, new business and portfolio management goals
Skills
- Advanced underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis
- Advanced knowledge of pricing components and rating methodology
- Strong portfolio management and financial acumen
- Effective sales and relationship management skills
- Excellent problem-solving and analytical skills
- Strong communication and presentation skills
- Ability to work independently and manage multiple projects
Benefits
- Medical, dental, vision, life, and disability insurance
- 401K with a company match
- Tuition reimbursement
- PTO
- Company paid holidays
- Flexible work arrangements
- Cultural Awareness Day in support of IDEOn-site medical/wellness center (Worcester only)
- Click here for the full list of Benefits
Pay
The target hiring range for this role may vary based on geographic location and other factors, including merit or performance, demonstrated proficiency, skills for the role, education, travel requirements, and experience. Additional compensation may include an annual bonus (which could take the form of a general bonus, sales incentive, or short-term incentive), long-term incentive or spot recognition awards.
Schedule
This is a hybrid opportunity. Employees may work from the office or remotely, depending on the department and role.