Sr Underwriting Specialist, Technology

About the role

The Technology and Life Sciences Underwriting team is seeking an experienced Senior Commercial Lines Technology Underwriter to join our growing team. This is a full-time, exempt position with flexibility to work in a hybrid or fully remote arrangement. While candidates based in the Chicago metropolitan area are strongly preferred, we welcome consideration of candidates residing in the approved states who possess substantial experience and established market expertise within the Chicago region.

Responsibilities

• Identify, solicit, underwrite and sell new and/or renewal Middle Market accounts that drive profitable growth and align with Technology appetite and mix goals
• Apply technical, sales and analytical skills to provide insurance solutions that help customers manage risk
• Demonstrate a thorough understanding of strategies and appetites and use internal and external data to make appropriate individual and portfolio risk decisions
• Serve as a resource and advisor to core underwriters, helping them understand technology risk appetite and assess liability, professional, and cyber exposures
• Operate with limited daily supervision, seeking technical direction for matters outside one's authority and general expertise
• Operate within a standard letter of authority for all underwriting decisions while managing a book of business, generally with moderate to high technical complexity and coordination
• Act as a mentor to develop team members, often acting as a knowledge resource

Technical Underwriting

• Know and apply underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis
• Use all appropriate underwriting tools, disciplines and knowledge of strategies to ensure underwriting guidelines are followed
• Understand pricing components and rating methodology and correlate pricing to exposure, financial, and competitive analysis
• When presented with minimal information on a risk, instinctively know the key questions to ask to ascertain the full scope of operations and the key exposures and needed controls
• Complete file documentation according to best practices, guidelines and state regulations and clearly explain account decisions
• Adhere to CAT guidelines and underwriting discipline to minimize exposure and appropriately price individual risks
• Provide clear and concise rating instructions for quotes prior to generating proposals for presentation to the agent
• Underwrite and price Technology specialty coverages such as products, professional, and cyber liability with limited guidance

Portfolio Management & Financial Acumen

• Manage assigned portfolio to achieve gross written premium, new business, profitability, rate, retention, and book mix goals
• Develop understanding of various financial reporting information and insurance performance measures in the management of risk
• Review key metrics and uncover trends that may lead to new business opportunities with agents while achieving profitable growth in accordance with business strategies
• Demonstrate understanding of the market factors that can affect pricing (distribution channels, competition, organization's growth/profit strategy, regulation, reinsurance costs and branding)
• Prepare or analyze information on adverse underwriting decisions, rate appeals, underwriting requirements, status and declinations in order to drive results within the assigned territory

Sales Acumen and Customer Advocacy

• Identify, solicit, pipeline, negotiate, and close accounts aligned with Technology and branch strategies
• Profile assigned agency plant and strategically market capabilities to agents
• Operate with a franchise perspective to identify and drive enhanced sell opportunities and create growth within other lines of business and customer segments
• Utilize value proposition to enhance agency economics, partner conversion and product specialization in partnership with local management
• Prioritize and drive effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment in order to improve yield and retention ratios
• Keep current on state/territory issues, regulations and trends
• Utilize market and competitor information to enhance agent relationships by becoming a trusted advisor
• Engage through stewardship process and at the customer level for the most complex and prominent accounts within the territory
• Independently implement territory business plans, monitor performance, adjust plan to ensure a substantial pipeline for future profitable growth
• Make sales presentations to agents and customers on a regular basis on more complex accounts
• Effectively utilize Claims, Risk Solutions and Operations to display service and/or technical expertise to build confidence in customers

Qualifications

• Bachelor's Degree or equivalent experience
• Generally 5-10+ years standard commercial lines and 5+ years Technology Industry experience
• Experience with complex, larger accounts

Skills

• Communication: Ability to effectively interact and communicate with all levels of external and/or internal business partners within the scope of responsibility, team and/or matrix environment; ability to consult with internal and external parties on underwriting matters
• Judgment and Decision Making: Ability to exercise judgment, negotiate and make sound business decisions effectively based on level of authority; confidence in own abilities and comfort taking informed risk
• Agile and Adaptive: Strong ability to identify, analyze and solve problems; ability to learn rapidly, adapt quickly to change, exercise influence, and manage and prioritize multiple concurrent projects
• Teamwork and Collaboration: Openly encourages other team members to share ideas and voice concerns; shows respect for differences and diversity in ideas and views; involves other team members to achieve optimal performance
• Prioritization and Desk Management: Understands and seeks ways to improve the quality and results of one's work; monitors progress against agreed upon timeline and deliverables; raises awareness if achievement of committed work may be compromised and actively engages in mitigating the situation

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 IDE
• On-site medical/wellness center (Worcester only)