Job Description

Job Summary: The Commercial Lines Underwriter is responsible for evaluating, analyzing, and assessing commercial insurance risks to determine acceptability, appropriate coverage, and pricing in accordance with company underwriting guidelines and profitability objectives. This role requires a strong understanding of various commercial lines products, excellent analytical skills, and the ability to build and maintain effective relationships with agents and brokers.

Key Responsibilities:

Risk Assessment and Decision Making:

• Review and analyze commercial insurance applications, financial statements, loss runs, inspection reports, and other relevant data to assess risk exposures for various commercial lines of business (e.g., Property, General Liability, Commercial Auto, Workers' Compensation, Umbrella, Professional Liability).
• Evaluate the overall risk profile of prospective and renewal accounts, identifying potential hazards and exposures.
• Make sound underwriting decisions (accept, decline, modify terms, or refer) based on risk analysis, company guidelines, and regulatory requirements.
• Develop and implement appropriate risk mitigation strategies and recommendations.

Pricing and Negotiation:

• Determine appropriate pricing for policies, ensuring rates are competitive yet profitable, utilizing rating models and actuarial data.
• Negotiate terms, conditions, and pricing with agents and brokers to secure profitable business while maintaining strong relationships.
• Communicate underwriting decisions clearly and effectively, providing rationale and alternative solutions when necessary.

Portfolio Management:

• Manage and monitor an assigned book of business to achieve growth, retention, and profitability targets.
• Identify trends and patterns within the portfolio and recommend adjustments to underwriting strategy as needed.
• Conduct regular reviews of existing accounts to ensure continued adherence to underwriting standards.

Agent/Broker Relationship Management:

• Cultivate and maintain strong, collaborative relationships with independent agents and brokers.
• Provide expert guidance and technical support to agents on product offerings, underwriting appetite, and submission requirements.
• Participate in agency visits, industry events, and training sessions as required.

Compliance and Continuous Improvement:

• Ensure all underwriting activities comply with state and federal regulations, company policies, and best practices.
• Stay current with industry trends, emerging risks, and changes in commercial insurance products and coverages.
• Contribute to the development and refinement of underwriting guidelines, processes, and tools.
• Mentor and provide guidance to less experienced underwriters or support staff as needed.

Required Skills and Qualifications:

Technical Expertise:

• In-depth knowledge of commercial property & casualty insurance products, coverages, and policy forms.
• Strong understanding of underwriting principles, risk analysis, and pricing methodologies.
• Familiarity with various industry classifications and exposures.

Analytical and Problem-Solving:

• Exceptional analytical, critical thinking, and decision-making skills.
• Ability to interpret complex data and make sound judgments under pressure.
• Strong problem-solving abilities with a proactive approach.

Communication and Interpersonal:

• Excellent written and verbal communication skills, including presentation and negotiation abilities.
• Strong interpersonal skills to build rapport and trust with agents, brokers, and internal stakeholders.
• Ability to clearly articulate complex underwriting decisions and rationale.

Organizational and Computer Skills:

• Highly organized with strong attention to detail and accuracy.
• Proficiency in Microsoft Office Suite (Excel, Word, Outlook).
• Experience with underwriting systems, agency management systems, and other relevant software.

Job Tags

Similar Jobs