Apply on Employer Site

Vermont Mutual Insurance Group · 2 weeks ago

Commercial Lines Underwriter II

Montpelier, VT, US

Full-time

Onsite

Mid Level

$70K/yr - $90K/yr

3+ years exp

Vermont Mutual Insurance Group is a company specializing in insurance services, and they are seeking a Commercial Lines Underwriter II. The role involves managing underwriting functions for commercial lines of insurance, including accepting or declining risks, determining coverage levels, and liaising with agents.

Financial ServicesInsurance

Growth Opportunities

Responsibilities

Process requests for quotes on and applications for new business: 1. review and analyze request/application to determine acceptability under current company guidelines and policies, seeking additional information from agents as needed; prepare worksheets documenting analysis; approve or decline, determining appropriate terms for accepting risks, considering exposures, amount of coverage, need for inspection reports, corrective measures, and the like; 2. notify agent of/explain reasons for decisions to decline; give agents quotes; 3. prepare application and related forms for rating; review completed rating and all forms following rating for accuracy and completeness; initiate actual issuance of the policy, annotate approval prior to routing the task to be issued; 4. assign reinsurance if necessary; 5. ensure all policy documents and internal processing forms are completed; 6. order survey/inspection if needed; review inspection results, determine appropriate follow up actions, if indicated, and notify agents

Process policy renewals: review policies coming up for renewal; initiate pre-renewal notices to agents; if policy is to be renewed and all necessary information obtained, process for rating and issuance

Process policy endorsements: review for completeness of information and acceptability of risk; obtain additional information if needed; process for rating and issuance

Process cancellations and non-renewals at anniversary or expiration dates: 1. review agents' requests for cancellation to verify compliance with legal requirements, cancellation date, etc.; obtain additional information if needed; 2. approve and route for internal processing and formal cancellation; 3. initiate company cancellations and non-renewals, ensuring that legal notice requirements are met; execute cancellation request, ensuring that all proper documentation is completed

Process mid-term cancellations, at agency or company initiative, for non-payment, increase in hazard, or other allowable reasons, ensuring that all legal requirements are met, and work with the manager to obtain permission from State Insurance Commissioner if necessary

Review losses to detect frequency or severity problems; suggest changes to improve loss ratio and monitor potential problem policies; initiate cancellation if problems continue and no alternative coverage approaches are viable

Perform key liaison functions with agents within assigned geographic area: solicit information for quotes, give quotes, explain declined business, discuss problems or unusual situations, provide agents with a wide variety of information related to policy and coverage options, encourage continuing business, and the like

Perform as needed agency visits including attendance at company functions or agent conventions

Demonstrate a strong commitment to customer service through prompt response to agents, effective negotiation, and overall workflow management

Confer regularly with manager, other underwriting staff and other company personnel to plan, coordinate and evaluate activities, exchange information, investigate and resolve problems, consult regarding acceptable risks, and the like. Seek assistance from manager or senior staff regarding any aspects of underwriting a policy that are questionable or deviate significantly from standard precedents and/or company operating policies/procedures. Obtain approval of all larger and unusual acceptable risks

Perform a variety of filing and recordkeeping tasks associated with assigned underwriting functions

Assist in daily oversight of associate underwriters

Assist as needed in training and mentoring of underwriters, including referrals and offering general guidance

Keep abreast of relevant changes in legal requirements, industry standards and trends, company policies and guidelines, and so forth

Provide feedback with regard to marketplace trends, competitor information and improved processes and efficiencies

Work with senior underwriting staff and take formal courses to acquire more advanced knowledge and skills required to become fully proficient in underwriting

Utilize and understand the software that is necessary to perform job: e-mail, web, word processing, spreadsheets, rating software, ImageRight, AS/400, Reference Connect and automated phone system

Serve on departmental or company committees as assigned

Perform other duties or special projects as required or as assigned with little oversight

Qualification

Commercial lines experienceAnalytical skillsProblem-solving skillsMicrosoft WordMicrosoft ExcelMicrosoft OutlookImaging systemsReference ConnectAS400Interpersonal skillsWriting skills

Required

Associate's or bachelor's degree in business or other appropriate discipline plus 3 or more years of industry experience including at least 3 years of commercial lines experience with an insurance Company or agency, or a combination of education and experience from which comparable knowledge and skills are acquired

Excellent math, analytical and problem-solving skills. Good writing skills

Proficiency with Microsoft Word, Excel and Outlook

Strong interpersonal skills; ability to represent the company and deal courteously and effectively with agents, as well as company personnel and others outside the company, in carrying out the varied liaison and account servicing functions of the job