Commercial Multi-line Large Accounts Underwriter

Pennsylvania Lumbermens Mutual Insurance Company

Position: Commercial Multi-Line Large Account Underwriter

Reports to: Underwriting Vice President

Position Summary: This position requires a goal-oriented individual to work in tandem with their PLM colleagues in the field and marketing to retain and generate large account opportunities. The position entails not only underwriting specific Large Accounts, but also interacting with clients during the policy life cycle to develop strong relationships rooted in the sale and delivery of value added services. In addition to individually underwriting specific large accounts, the successful candidate will also oversee the underwriting & servicing of the broader large account portfolio handled in the Major Account Department. This position will be accountable for the P& L of our large accounts, currently defined as those risks generating more than $1M in commercial lines premium. It is expected that this individual will frequently travel to meet with clients and prospects. Receives functional policy direction and guidelines from the Chief Underwriting Officer.

Essential Functions and Responsibilities:

Quotation

1. Review applications for class acceptability, completeness (request additional info, if appropriate), and risk acceptability

2. Evaluate classification for accuracy

3. Review Dunn & Bradstreet Reports or financial statement as appropriate to ensure client liquidity

4. Coordinate pricing with client/prospect and Business Development Representative (BDR) by completing a thorough needs assessment.

5. Develop any additional underwriting information necessary to determine risk acceptability and, if appropriate, have a tentative quotation developed

6. Run location specific CAT model using current software

7. Secure Reinsurance quote, if needed

8. Coordinate quotation’s release, including potential client visit, with the BDR & Loss Control.

9. Establish a diary for quotation follow up with client

10. Refer risks exceeding underwriting authority with a recommended handling action to the appropriate Underwriting Officer.

Renewals

1. Review file for completeness of underwriting information and, if necessary, coordinate/obtain any missing or incomplete information.

2. Conduct a pre-renewal visit to the client

3. Implement the renewal retention program as outlined under separate cover.

4. Complete a loss analysis.

5. Evaluate most recent Loss Control Report; if necessary obtain updated or new report. Confirm status of recommendations that are outstanding and assist in the development of a renewal action plan for the upcoming yea.

6. Make renewal decision, i.e. renew (and, if so, at what price) or non-renew and communicate directly with client, preferably in person.

7. Conduct entire renewal process within corporate time service standards.

8. Visit client for post renewal meeting

Endorsements

1. Review requests for completeness of information.

2. Evaluate request for acceptability.

3. Consider any pricing issues.

4. Process all endorsement requests within 10 days of receipt.

Loss Information

1. Develop detailed loss information by reviewing hard copy from loss runs from prior carrier and, in coordination with PLM colleagues, develop an action plan to mitigate future occurrences.

Large Account Oversight and Service Coordination

1. Provide oversight and coordination for all accounts handled in the Major Account Unit

2. Manage time service results for unit

3. Complete Monthly Report on Large Account results

4. Work with Marketing on strategy to further penetrate this segment

5. Coordinate new form and rating methodologies for the large account segment with Filing & Regulation

6. Interact with internal actuary to trend and develop losses.

7. Work with CEO in further defining the Major Account Unit

Requirements

Knowledge and Skills:

1. Bachelor’s degree in Risk Management and Insurance; or equivalent relevant experience

2. 10 plus years demonstrated multi-line underwriting experience in a similar environment

3. Prior Large Account Experience Preferred

4. Professional designation of CPCU or equivalent (ARM, CIC, AU) preferred

5. Understanding of and ability to apply underwriting processes to potential and current risks

6. Demonstrated ability to analyze financial stability and determining a clients’ liquidity

7. Detailed understanding and “current knowledge” of commercial coverages and policy forms

8. Good understanding of commercial rating techniques

9. Knowledge of reinsurance marketplace, both facultative and treaty

10. Good understanding of policy construction detail

11. Knowledge of CAT management tools and understanding of exposure, both at individual account and book level

12. Outstanding organizational skills resulting in the ability to handle a large workload.

13. Strong communication skills (both oral and written)

14. Strong negotiation skills

15. Ability to work in a team environment

16. Ability to build and manage relationships with clients and fellow employees

17. Ability to identify and solve complex problems

Physical Requirements:

1. Ability to hear.

2. Ability to speak clearly.

3. Ability to sit for extended periods of time.

4. Ability to travel

5. Driver’s License

Job Type: Full-time

Pay: $90,000.00 - $115,000.00 per year

Benefits:

• 401(k)
• 401(k) 6% Match
• 401(k) matching
• Dental insurance
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Parental leave
• Professional development assistance
• Retirement plan
• Tuition reimbursement
• Vision insurance

Schedule:

• Monday to Friday

Experience:

• Commercial Underwriting: 8 years (Preferred)

Work Location: Hybrid remote in Philadelphia, PA 19103

Salary : $90,000 - $115,000