Apply on Employer Site

Encova Insurance · 16 hours ago

Underwriter, Small Business

United States

Full-time

Remote

Mid, Senior Level

$62K/yr - $111K/yr

2+ years exp

Encova Insurance is seeking an Underwriter for Small Business to evaluate and write profitable business accounts. The role involves reviewing insurance applications, assessing risks, and determining pricing while ensuring the financial performance of the assigned book of business.

Commercial InsuranceHealth InsuranceInsurance

Comp. & Benefits

No H1B

Responsibilities

Determine the acceptability, quality, pricing, profitability and opportunity for new and existing business

Complete thorough risk analysis on designated accounts using appropriate Encova, NCCI, ISO and industry rules, policies, procedures, and guidelines, etc

Underwrites and assesses risk for routine, small business renewals and new business items

Uses the predictive model for straight through processing of a high volume of accounts

Utilizes Encova systems to transact requests and endorsements

Communicates with agents electronically through internal Encova systems

Identify, create and initiate new business opportunities within assigned book of business

Gather and analyze information necessary to make an accurate evaluation of risk

Determine appropriate pricing based on risk exposures, risk quality, loss potential and coverage provided

Utilize available resources including company underwriting guidelines, business unit strategies, and consultations with others to ensure adequate understanding of risk exposures

Prepare proposals to producers, including negotiation of terms and conditions

Ensure the proper issuance of policies, certificates, filings and notifications

Seek the guidance of management on risks exceeding assigned authority levels

Effectively utilize industry rules and guidance to ensure proper policy construction

Identify underwriting issues; recommend and develop plans for problem resolution and implement where appropriate

Manage existing and prospective accounts by actively participating in account renewals, new business presentations as needed and discussion with agents

Participate in monitoring and analyzing performance of assigned agents; initiate actions and understand downstream impact of alternatives

Serve as a resource for other team members and units

Apply discretionary pricing appropriately based on the account exposures, predictive model indications and letter of authority

Communicate all underwriting decisions or changes on coverage, limits, exposures and/or pricing, discussing alternatives with agents as needed

Travel to various locations to support business objectives whenever necessary

Perform other duties as assigned

Qualification

Underwriting experienceRisk analysisInsurance knowledgeAINS certificationExcel proficiencyInterpersonal skillsCritical thinkingCommunication skillsTeamworkProblem solving

Required

Underwriting experience with Package Lines and Workers' Compensation

Experience working with agents in Indiana or Kentucky

Interpersonal skills are required including the ability to demonstrate professionalism, adaptability, accountability, collaboration, and problem solving

Critical thinking: Ability to assess an individual situation and select applicable rules from an array of options, resulting in the most appropriate and sustainable decision

Strong oral and written communication skills

Knowledge of underwriting laws and rules and their application

Knowledge of policy and procedures regarding risk administration and risk management, underwriting and loss control

Knowledge of the insurance industry and the business environment in which it operates in order to develop an effective business strategy and remain technically current

Thorough understanding of business exposure calculations, classifications, experience rating or other plan modifications

Ability to develop and implement account, territorial, producer and book strategies to acquire and retain business

Ability to work effectively in a team environment

Ability to use logic and reasoning to identify strengths and weaknesses of alternative solutions, conclusions or approaches to problems

Ability to identify problems and review related information to develop and evaluate options and implement solutions

Ability to make sound decisions after considering all facts, potential risks, customer needs and alternative solutions

Ability to initiate and build relationships and tailor services to meet customer needs

Ability to present ideas and information to individuals and groups in a clear, concise, influential, organized and diplomatic manner and address concerns or needs

Ability to adjust priorities based on changing situations

Ability to effectively manage multiple assignments while meeting established guidelines

Proficient in Excel

Preferred

Bachelor's degree from an accredited college or university preferred, demonstrated significant professional or insurance experience may substitute for educational requirements

Two years insurance experience in the property and casualty insurance market preferred

Insurance designations or insurance education course work (i.e. AINS-Associate in General Insurance) is strongly preferred