What are the responsibilities and job description for the Worker's Compensation Underwriter position at Service Insurance Companies?
Job Description
Job Description
This position is a hybrid role, based in Austin, TX
Service Insurance Companies is on the search for an Underwriter to join the team! The Underwriter will identify appropriate business and establish and monitor workers’ compensation premium pricing for small to large accounts. The primary responsibility is new & renewal business pricing and production of profitable accounts.
Responsibilities and Accountabilities
The Underwriter will be responsible for handling the Agents and / or Program book of business that is directly assigned.
The Underwriter is responsible for the overall underwriting function through customer care, processing of various underwriting transactions, data research and analysis. The process will include collaboration with the other Underwriters, Management, and agency relationships to develop annual production goals and retention.
Developing relationships with all assigned agencies that will result in developing and improving retention, growth and profitability.
The Underwriter is responsible for a specific agency book of business for overseeing the underwriting, pricing, classification, and coverage impact on the overall book of business on a per account basis for the Agency.
The Underwriter reports to the Underwriting Supervisor for referral authority.
The Underwriter works with the Underwriting Assistants to process the quotes, policy issuance, endorsements, and other policy and coverage concerns. Production and profitability goals are taken into consideration along with the overall department results.
The Underwriter helps to ensure the bottom-line profitability of the company through quality risk selection that is appropriately classified and priced to cover the losses and expenses on a per account basis.
Underwrite, analyze, price and approve mono-line workers’ compensation new and renewal business within the company procedures and guidelines.
Assist with triage of submissions to determine risk selection acceptability; including processing declinations, quoting or identifying essential information required for quoting purposes.
Insure timely issuance of insurance policies and endorsements.
To carry out their essential duties and responsibilities to enhance the overall performance of the division through utilization of systems and guidelines as provided.
Provides technical guidance, assistance, and training to underwriting assistants and / or lower-level associates.
Communicates underwriting decisions regarding new and renewal business to agents in a timely and professional manner.
Initiates the assistance of risk control personnel within the company guidelines when a more comprehensive analysis of a risk is needed to complete the underwriting review of an account.
Develops and maintains agency / broker relationships.
Communicates with management, administrative staff, actuaries and business development personnel in an effective manner.
Remains current on underwriting developments within the industry through on-going formal and informal education
Maintain a high degree of trust through demonstrated personal integrity and ethical behavior.
Regular attendance and punctual employee presence required.
The Underwriter helps to ensure the bottom-line profitability of the company through quality risk selection that is appropriately classified and priced to cover the losses and expenses on a per account basis.
The Underwriter has the essential role of providing support and assistance to the overall underwriting functions through customer care, processing of various underwriting transactions, data research and analysis.
Working as a team to ensure the production and customer care goals are met.
Experience, Knowledge and Skills
Bachelor’s degree preferred in accounting, math, business, economics, actuarial science or another related field.
5 or more years of experience in underwriting Workers’ Compensation insurance
Strong knowledge of underwriting philosophy, techniques, national / local filing, regulations, and guidelines
In-depth knowledge of Workers’ Compensation insurance and the legal and regulatory guidelines
Demonstrated technical knowledge and skills reflective of progression of positions of increasing responsibility.
Knowledge of time restraints for quotes on new and renewal business
Working knowledge of the NCCI Scopes publication
Ability to multi-task
Must be an analytical problem solver with the ability to effectively assess risks.
Must be comfortable with numbers, data, research and complex formulas.
PC literate, technically savvy, strong analytical skills and proficient in Excel and MS Office
Strong attention to detail and accuracy is critical with the ability to prioritize and complete projects effectively.
Solid knowledge of processing methods and workflow procedures
Excellent communication and negotiation skills
Good interpersonal skills with the ability to effectively interact with staff at all levels.
Ability to maintain positive relationships is critical.
Ability to work independently as well as in a team environment.
Prior Insurance and Underwriting experience.
Workers Compensation Insurance policy, rating, and Texas Department of Insurance Manual of Basic Rules
Risk Analysis experience and determination of pricing and coverage for program acceptability, sales and negotiation skills, ability to communicate in a professional manner through all means, documentation of decision processes, time management.
Personal planning, organizing, and working to deadlines.
Creative / Innovative
Relationship Management
Decision Making
Communication, (report writing, presentation creation and delivery)
Detail oriented with strong organization and time management skills.
Effective communication skills with the ability to present subjects clearly to both technical and non-technical audiences and to interact tactfully and effectively in difficult situations.
Strong analytical skills and problem-solving skills.
Ability to establish and maintain effective working relationships with others is critical.
Ability to work independently as well as in a team environment.
Skill in use of 10-key calculator.
Basic skill using Microsoft Office programs (i.e., Word and Excel).
Ability to work with others in a professional manner with business and professional acumen.
Ability to provide customer service, internal and external in all types of situations.
Knows when to report unprofessional behavior both internal and external and whom to inform.
Ability to recognize situations that may have an appearance of impropriety and know not to engage in them as a representative of Service Insurance Companies.
Benefits
Service Insurance Companies Offers a competitive benefits package including :
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