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The Hanover Insurance Group · 1 day ago

Excess & Surplus - Underwriting Specialist Specialty (Remote/Hybrid)

Atlanta, GA

Full-time

Hybrid

Mid, Senior Level

3+ years exp

The Hanover Insurance Group has been dedicated to delivering on promises for over 170 years. They are seeking a strategic and dynamic Underwriting Specialist to identify, solicit, underwrite, and sell new and renewal Specialty accounts that drive profitable growth.

Insurance

Responsibilities

Responsible for identifying, soliciting, underwriting, and selling new and renewal Specialty accounts that drive profitable growth and align with Industry Segments and LOB mix goals

Apply 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 appetites and will use internal and external data to make appropriate individual and portfolio risk decisions

Operates with limited daily supervision, seeks technical direction for matters outside one’s authority and general expertise

Operates within a standard letter of authority for all underwriting decisions while managing a book of business, generally with moderate to high technical complexity and coordination

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

Uses all appropriate underwriting tools, disciplines and strategies to ensure underwriting guidelines are followed

Understands pricing components and rating methodology and correlates pricing to exposures

When presented with minimal information on a risk, instinctively knows the key questions to ask to ascertain the full scope of operations and the key exposures and needed controls

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

Provides clear and concise rating instructions for quotes prior to generating proposal for presentation to the agent

Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, product mix, new business, and portfolio management goals, by use of proven pipeline and marketing practices

Developing an understanding of various financial reporting information and insurance performance measures in the management of risk

Demonstrates an understanding of the market factors that can affect pricing and how it correlates to individuals book, agency’s book, the region, and countrywide

Prepares or analyzes information on underwriting decisions, rate, underwriting requirements, company appetite, status, and declinations to drive results within the assigned territory

Familiarizes oneself with other Hanover departments for leveraging growth in areas of business where portfolio could be more balanced

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

Ability to profile assigned agency plant and to strategically market our capabilities to agents

Keeps current on state/territory issues, regulations, and trends

Utilizes market and competitor information to enhance relationships and individual account decision making

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

Operates with a franchise perspective to identify additional sell opportunities to create growth within other LOB’s and customer segments

Partners with other business units to deliver comprehensive insurance solutions

Demonstrates in-depth knowledge of Hanover’s products and appetite while clearly communicating Hanover’s position at the point of sale

Builds and maintains rigorous sales practices using all systems, sales tools and disciplines outlined in the sales best practices

Makes presentations to agents and customers. Utilize department and Specialty partners to augment sales process. Effectively utilize Claims and Loss Control to display service and/or technical expertise with present and future customers

Qualification

Underwriting conceptsPortfolio managementSales managementFinancial acumenAgency relationship managementJudgmentAgileAdaptivePrioritizationDesk managementCommunicationDecision makingTeamworkCollaboration

Required

Bachelor's Degree or equivalent experience

Generally, 3-7+ years Specialty or standard commercial lines experience

3-4+ years' experience driving agency relationships resulting in profitable new and renewal business as well as complex accounts

Demonstrates ability to adapt quickly to change, identify, analyze, and solve problems and willingness to being open to new and different ways of thinking

Communication - ability to effectively interact and communicate with all levels of external and/or internal business partners within scope of responsibility, team, and/or matrix environment. Demonstrating ability to consult with internal and external parties on underwriting matters

Judgment and Decision Making - Ability to exercise judgment, negotiate and make sound business decisions effectively based on level of authority. Demonstrates confidence in own abilities and is comfortable taking informed risk

Agile and Adaptive - Strong ability to identify, analyze and solve problems as well as the ability to learn rapidly, adapt quickly to change, exercise influence, and manage and prioritize multiple concurrent projects

Team Work and Collaboration - Openly encourages other team members to share ideas and voice concerns. Shows respect for differences and diversity in ideas and views. Involves other team members to achieve optimal performance

Prioritization and Desk Management - Understands and seeks ways to improve the quality and results of one's work. Monitors progress against agreed upon timeline and deliverables. Raises awareness if achievement of committed work may be compromised and actively engages in mitigating the situation