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The Hanover Insurance Group · 4 hours ago

Senior Human Service Sales Underwriting Specialist

Connecticut, United States

Full-time

Hybrid

Senior Level

5+ years exp

The Hanover Insurance Group has been committed to delivering on promises for over 170 years, and they are seeking a Senior Underwriting Specialist for Human Services. This role is responsible for underwriting and selling Middle Market accounts while applying advanced technical and analytical skills to provide insurance solutions that help manage risk.

Insurance

Responsibilities

Responsible for identifying, soliciting, underwriting and selling new and renewal Middle Market accounts that drive profitable growth and align with the Human Services Industry segment, appetite and mix goals

Apply advanced technical, sales and analytical skills to provide insurance solutions that help Hanover’s customers manage risk

Demonstrates a thorough understanding of Hanover’s strategies and Human Services appetites and will use internal and external data to make appropriate individual and portfolio Human Services risk decisions

Operates within a broad Letter of Authority for all underwriting decisions and with limited direction while managing an assigned book of business, generally with high technical complexity and coordination

Willingness to build and foster key agency relationships, identify emerging issues, obtain competitive intelligence and engage in industry-specific continuing education

Knows and applies advanced underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis

Uses all appropriate underwriting tools (e.g. RQI, WC RST, UWWS, and CLAY.), disciplines and knowledge of strategies to ensure underwriting guidelines are followed

Advanced knowledge of pricing components and rating methodology and correlates pricing to exposure, financial and competitive analysis

Completes file documentation according to best practices guidelines and state regulations and can clearly explain account decisions

Adheres to CAT guidelines and underwriting discipline to minimize exposure and appropriately price individual risks. Applies increased knowledge of CAT aggregation to decision making

Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, industry and LOB mix, new business and portfolio management goals

Reviews key metrics and uncovers trends that may lead to new business opportunities with agents while achieving profitable growth in accordance with business strategies

Demonstrates an understanding of the market factors and trends that can affect pricing (i.e. distribution channels, competition, organization’s growth/ profit strategy, regulation, reinsurance costs and branding)

Prepares or analyzes information on adverse underwriting decisions, rate appeals, underwriting requirements, status and declinations in order to drive results within the assigned territory

Supports the implementation of profit improvement initiatives with key agents

Can identify, solicit, pipeline, negotiate, and close accounts aligned with MM branch strategy. Ability to profile assigned agency plant and to strategically market our capabilities to agents

Operates with a franchise perspective to identify and drive enhanced sell opportunities and create growth within other lines of business and customer segments. Utilize our value proposition to enhance agency economics, partner conversion and product specialization in partnership with local management

Prioritizes and drives effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment in order to improve yield and retention ratios

Keeps current on state/territory issues, regulations and trends. Utilizes market and competitor information to enhance agent relationships by becoming a trusted advisor

Through stewardship process engage at the customer level for the most complex and prominent accounts within their territory

Independently implements territory business plans, monitors performance, adjusts plan to ensure a substantial pipeline for future profitable growth

Makes sales presentations to agents and customers on a regular basis and participants in more complex accounts: Utilize Industry Solutions partners to augment sales process through enhanced knowledge transfer, strategic producer visits/sales calls, and effective training sessions for both agents and customers

Effectively utilize Claims, Risk Solutions and Operations to display service and/or technical expertise to build confidence in customers to further secure business opportunities

Qualification

Underwriting experienceSales acumenPortfolio managementRisk analysisAgency relationship managementJudgmentAgilityInformal leadershipCommunication skillsDecision makingTeamworkCollaborationAdaptability

Required

Bachelor's Degree or equivalent experience

5-7+ years Underwriting experience, with a minimum of 3 years of experience underwriting MM accounts

5+ years of experience driving agency relationships resulting in profitable new and renewal business

Knows and applies advanced underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis

Uses all appropriate underwriting tools (e.g. RQI, WC RST, UWWS, and CLAY.)

Advanced knowledge of pricing components and rating methodology and correlates pricing to exposure, financial and competitive analysis

Completes file documentation according to best practices guidelines and state regulations and can clearly explain account decisions

Adheres to CAT guidelines and underwriting discipline to minimize exposure and appropriately price individual risks

Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, industry and LOB mix, new business and portfolio management goals

Reviews key metrics and uncovers trends that may lead to new business opportunities with agents while achieving profitable growth in accordance with business strategies

Demonstrates an understanding of the market factors and trends that can affect pricing

Prepares or analyzes information on adverse underwriting decisions, rate appeals, underwriting requirements, status and declinations in order to drive results within the assigned territory

Supports the implementation of profit improvement initiatives with key agents

Can identify, solicit, pipeline, negotiate, and close accounts aligned with MM branch strategy

Operates with a franchise perspective to identify and drive enhanced sell opportunities and create growth within other lines of business and customer segments

Prioritizes and drives effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment

Keeps current on state/territory issues, regulations and trends

Through stewardship process engage at the customer level for the most complex and prominent accounts within their territory

Independently implements territory business plans, monitors performance, adjusts plan to ensure a substantial pipeline for future profitable growth

Makes sales presentations to agents and customers on a regular basis

Utilizes Industry Solutions partners to augment sales process through enhanced knowledge transfer, strategic producer visits/sales calls, and effective training sessions for both agents and customers

Effectively utilize Claims, Risk Solutions and Operations to display service and/or technical expertise to build confidence in customers to further secure business opportunities

Acts as a change advocate, and is open to new and different ways of thinking

Communication (verbal and written) - Interacts and communicates with confidence with all levels of external and/or internal business partners

Judgement and Decision Making - Ability to exercise judgment, negotiate and make sound business decisions based on level of authority

Agile and Adaptive - Strong ability to identify, analyze and solve problems as well as the ability to learn rapidly, adapt quickly to change

Team work and Collaboration – Consistently fosters collaboration and respect among team members

Experienced in working with a wide range of teams and readily shares lessons learned

Informal Leadership - Viewed as an informal leader amongst the team/branch/region/LOB