Underwriter Portfolio Middle Market

About the role

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture. Our Middle Market team is currently seeking a Sr. Portfolio Underwriting Specialist. This position reports to the Chief Operating Officer of Middle Market. This is a full time, exempt role.

Responsibilities

• Responsible for the underwriting and retention of Middle Market renewal accounts that drive profit and align with the business unit objectives and strategies.
  • Manages portfolio to execute upon business unit objectives for rate, new money, retention, mix and profitability.
  • Identifies cross-sell opportunities within existing book and coordinates with the Sales Underwriter to solicit new business opportunities.
  • Applies advanced knowledge of pricing components and rating methodology and correlates pricing to exposure to develop adequate premium for the risk.
  • Recommends pricing decisions that align with business unit rate, new money, and retention targets.
  • Shares insights on marketplace, line of business, industry, and competitor trends and partners with Underwriter leadership to develop portfolio management strategies to improve overall book mix driving enhanced profitability.
  • Leads the implementation of profit improvement initiatives with agency partners.
  • Able to clearly articulate thought process around individual account decisions.
  • Operates within the scope of assigned Letter of Authority and/or receives appropriate approval for elements outside of authority.
  • Completes file documentation in accordance with company standards and state regulations.
• Portfolio Management & Financial Acumen
  • Manages portfolio to execute upon business unit objectives for rate, new money, retention, mix and profitability.
  • Identifies cross-sell opportunities within existing book and coordinates with the Sales Underwriter to solicit new business opportunities.
  • Applies advanced knowledge of pricing components and rating methodology and correlates pricing to exposure to develop adequate premium for the risk.
  • Recommends pricing decisions that align with business unit rate, new money, and retention targets.
  • Shares insights on marketplace, line of business, industry, and competitor trends and partners with Underwriter leadership to develop portfolio management strategies to improve overall book mix driving enhanced profitability.
  • Leads the implementation of profit improvement initiatives with agency partners.
  • Able to clearly articulate thought process around individual account decisions.
• Sales Acumen & Customer Advocacy
  • Partners with local team to build and maintain agency relationships within assigned agency plant.
  • Operates with a franchise perspective to identify and drive enhanced cross-sell opportunities and create growth within other lines of business and/or customer segments demonstrating an in-depth knowledge of Hanover’s product and appetite.
  • In partnership with Underwriting and Field leadership, utilizes our value proposition to enhance agency economics, partner conversion and production specialization.
  • Stays current on state/territory issues, regulations, and trends.
  • Utilizes market and competitor information to keep agents informed enhancing the agency relationships by becoming a trusted advisor.
  • Thinks broadly and creatively to solve problems, incorporating underwriting, product and pricing knowledge in solutions provided to agency partners.
  • Able to work within an assigned territory assignment that may shift as business needs arise.
• Technical Underwriting
  • Applies advanced knowledge of underwriting concepts and risk acceptability to assigned renewal portfolio to make sound underwriting decisions.
  • Knows key questions to ask to ascertain the full scope of operations and conducts a thorough exposure/control analysis on accounts including coverage analysis.
  • Engages with others on complex decision-making to provide additional expertise and support.
  • Utilizes all underwriting tools and systems needed to inform the decision-making process ensuring underwriting guidelines are followed.
  • Provides training to new hire employees on systems, tools, processes, and workflows.
  • Provides mentoring and training to less experienced team members to increase their skill level and knowledge on a variety of topics including underwriting analysis, pricing considerations and policy structure.
  • Participates in projects.

Requirements

• Bachelor’s degree or equivalent experience
• 10+ years of standard commercial lines underwriting experience with a minimum of 5 years of experience underwriting Middle Market accounts.
• Experience with account size $100K premium and above is preferred.
• Acts as a change advocate and is open to new and different ways of thinking.
• Able to work within an assigned territory assignment that may shift as business needs arise.
• Communication (written and verbal) - anticipates audience needs when communicating, actively seeks to understand when there is lack of clarity, able to clearly articulate and express points of view and perspectives both verbally and in writing.
• Judgement and Decision Making – able to apply logic to decisions identifying and evaluating risks and implications. Uses current data and information to inform recommended decisions and actions.
• Able to work in a fast paced, highly dynamic environment. Able to shift focus and manage new and changing situations.
• Teamwork and Collaboration – seeks opportunities to share information and offer ideas that will allow others to benefit or succeed. Shows respect for differences and diversity in ideas and views.
• Prioritization and Desk Management – takes personal ownership for the management workload and output. Applies understanding of business workflows and processes to determine focus and urgency needed.

Qualifications

• Knowledge of standard commercial lines underwriting concepts and risk acceptability.
• Ability to conduct a thorough exposure/control analysis on accounts including coverage analysis.
• Experience with account size $100K premium and above is preferred.
• Experience working with a wide range of clients and industries.
• Strong communication and interpersonal skills.
• Ability to work independently and as part of a team.
• Ability to prioritize and manage multiple tasks simultaneously.
• Ability to work in a fast-paced, dynamic environment.
• Ability to make sound decisions and apply logic to problem-solving.
• Ability to communicate effectively both verbally and in writing.
• Ability to work within an assigned territory assignment that may shift as business needs arise.

Skills

• Advanced knowledge of underwriting concepts and risk acceptability.
• Ability to conduct a thorough exposure/control analysis on accounts including coverage analysis.
• Experience with account size $100K premium and above is preferred.
• Experience working with a wide range of clients and industries.
• Strong communication and interpersonal skills.
• Ability to work independently and as part of a team.
• Ability to prioritize and manage multiple tasks simultaneously.
• Ability to work in a fast-paced, dynamic environment.
• Ability to make sound decisions and apply logic to problem-solving.
• Ability to communicate effectively both verbally and in writing.
• Ability to work within an assigned territory assignment that may shift as business needs arise.

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. The posted range reflects our ability to hire at different position titles and levels depending on background and experience.

Schedule

This is a full time, exempt role. Position is eligible for Hybrid or Remote work arrangement.