Sr. Consultant, Brokerage Excess Underwriting - E&S/Specialty

If you’re passionate about helping people protect what matters most to them at a Fortune 100 company with nearly $70 billion in annual sales, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers and partners are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

About the Role

Our Excess & Surplus/Specialty (E&S/S) lines allow us to provide insurance that other carriers may not offer. It’s a fast-paced environment in a collaborative, team-oriented culture, working in an always-changing, growing industry. As a Senior Underwriting Consultant in Brokerage Excess, you will underwrite individual risks for acceptability, pricing, coverage, terms and conditions by developing, analyzing and evaluating information and exposures on risks of the most complex technical nature with the highest level of authority for the Excess Casualty line of business. You will achieve production and loss ratio goals with assigned brokers and program managers by reviewing and analyzing claims, loss history, and taking appropriate action on accounts. Broker assignments are the most complex in terms of coverage and broker relationships. You will exercise a high level of authority and judgment with minimal direction and be responsible for determining appropriate reinsurance placement, if any, on individual accounts. You will foster positive business relationships with co-workers, brokers, and reinsurers, and be responsible for research, development, and presentation of new classes of business, including market viability, forms development, manuals, available reinsurance, and assisting the manager with department strategies. Managing the workflow of assigned underwriters, employee coaching and development, and mentoring underwriters at all levels are important elements of this role. In the absence of the Manager, you’ll have authority to approve referrals that exceed the authority of lower-level underwriters. You will have opportunities to represent the department in various division and company committees/initiatives.

Responsibilities

• Researches and develops new classes of business as directed. Researches market trends and competition. Assesses market viability, creates forms & endorsements, and develops rates with actuarial support.
• On large, complex accounts, partners with Actuarial team to develop rates/pricing, Finance team to review potential insureds profitability profile, and claims team to review SIR viability and potential frequency and severity of losses.
• Reviews individual risks with assigned brokers and either declines or accepts business based upon information necessary to make the decision. Analyzes, with the highest level of technical expertise and accuracy, exposures to loss, develops an adequate premium charge for the exposure, determines endorsements and exclusions to address loss exposures for the insurance contract, including developing manuscript wording appropriate to the risk. Within department guidelines, places reinsurance, if any, for the account.
• Achieves team/individual production and loss ratio goals with assigned brokers through sound broker management and marketing. Continually analyzes premium and loss results of assigned brokers; by state, major classes of business, etc. Continually assesses quality of broker submissions and makes corrective action recommendations.
• Oversees or handles policy maintenance items and other mid-term requests. Reviews endorsement requests and authorizes necessary changes to the policy. Reviews Loss Control reports and recommendations; partners with the broker to ensure loss control compliance. Follows up on outstanding information as required. Reviews claim activity and takes appropriate action.
• Fosters positive business relationships with brokers through frequent contact. Develops and maintains good rapport and resolves broker conflicts. Travels to broker offices as required for training or marketing visits. Entertains brokers visiting the Company as required. Assists with development of marketing ideas and strategies for Underwriting events and other marketing campaigns.
• Demonstrates a thorough understanding of facultative reinsurance and places reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaty, semiautomatic, and facultative reinsurance. Maintains good working relationship with reinsurers. Responsible for the resolution of technical questions of the highest complexity.
• Proactively develops technical and business knowledge through internal and external venues. Teaches classes to build technical underwriting knowledge to brokers, SSU students, and other underwriters. Mentors new and existing underwriting talent.
• Manages the workflow of assigned underwriters, provides employee coaching and development, and mentors underwriters at all levels.
• In absence of the Manager, approves referrals that exceed the authority of lower-level underwriters.
• Represents the department in various division and company committees/initiatives.

Qualifications

• Undergraduate degree preferred. Equivalent work experience will be considered in lieu of a degree.
• Completion of general insurance courses such as CPCU, CIC, AU, ARM, CPIW, CWIS, or ASLI is preferred.
• Eight years of commercial lines (CL) underwriting experience handling large or complex accounts; excess & surplus lines experience preferred.

Skills

• Knowledge of complex CL underwriting policies, practices and procedures, insurance law, and underwriting/marketing principles and techniques.
• Knowledge of Standard Bureau Rating plans and concepts such as catastrophe management.
• Knowledge of alternative rating methods and plans, and pricing theory.
• Knowledge of Treaty & Facultative reinsurance.
• Knowledge of regulatory issues, the wholesale broker system, market conditions, and company operations.
• Ability to communicate effectively, verbally and in writing, interpersonally with individuals and groups via telephone, tele/video conference, fax, email, and in person.
• Demonstrates advanced negotiation skills and ability to work as a project lead.
• Ability to manage the line of business assigned, which may include monitoring of aggregates.
• Ability to work with the wholesale broker system.
• Ability to analyze highly complex insurance risks to determine acceptability including policy language, various commercial and alternative rating plans and methodologies, reinsurance.
• Ability to use/learn job-related computer software.
• Ability to handle the most complex accounts.
• Ability to devise business solutions to complex problems, implement the most appropriate, and monitor the effectiveness.
• Ability to make decisions on highly complex issues and work with minimal direction.
• Ability to train and mentor all levels of underwriters, underwriting assistants, and interns.
• Ability to analyze and interpret mathematical, statistical, and logical data, and evaluate its reliability and significance.
• Ability to apply market trends and competitor intelligence to underwriting approach.

Benefits

• Medical, dental, and vision insurance
• Life insurance
• Short and long-term disability coverage
• Paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year (pro-rated quarterly based on hire date)
• Nine paid holidays
• 8 hours of Lifetime paid time off
• 8 hours of Unity Day paid time off
• 401(k) with company match
• Company-paid pension plan
• Business casual attire

Pay

The national salary range for this role is $136,000.00 - $242,000.00. The expected starting salary range is $136,000.00 - $204,000.00. Placement within the actual starting salary range will be determined by a number of factors including the skills, education, training, credentials, and experience of the candidate; the scope, complexity, and location of the role; and the cost of labor in the market.

Schedule

• Overtime Eligibility: Exempt (Not Eligible)
• Normal office environment
• Extended and non-standard work hours based on project and customer deliverables
• Travel required

This position could be filled within any of the lower 48 U.S. states.