What are the responsibilities and job description for the Small Business Underwriter position at UFG?
UFG is looking for a Small Business Underwriter to join our team. In this role you will manage a Small Business commercial underwriting territory of approximately $6 million - $11 million. The individual in this role will work to attain positive results (premium growth and acceptable loss ratios) through sound risk selection, developing strong relationships with targeted agencies and their personnel, and providing a quality product combined with excellent service. Other responsibilities include serving as a resource mentor, approving risks within authority, and acting as a resource for training needs.
Responsibilities
- Responsible for underwriting profitable growth and retention of new and renewal business consistent with Small Business underwriting strategies.
- Underwrite and price new business and renewals by evaluating necessary coverages and determining risk acceptability.
- Review applications, MVR’s, Experience Mods, Loss experience, credit reports and company guidelines for risk acceptability.
- Review applications, endorsement requests and renewals for limits and coverages requested.
- Partner with Territory Managers in evaluating portfolio of submissions to identify opportunities to improve producer and territory performance.
- Develop, analyze, and evaluate information and exposure for moderately complex risks.
- Properly classify and price risk using analytical pricing tools and resources.
- Evaluate change requests. Approve, assign codes and process within underwriting guidelines.
- Negotiate with agents on pricing and coverages offered.
- Demonstrate knowledge of Small Business products and value proposition through internal/external interactions.
- Adhere to underwriting guidelines, regulatory requirements and underwriting authority.
- Provide best in class service to agency partners with timely and professional assistance while adhering to our service level agreements and standards.
- Keep current and demonstrate an understanding of assigned territory, regulations, industry activity, trends and elevate opportunities, concerns and needs as appropriate.
- Participate in agency visits to solicit new business, discuss renewal accounts or issues, develop successful relationships with agencies and producers.
- Manage territory using data and analytics to achieve production goals and drive results within assigned territory.
- Collaborate with Product, Technology, Marketing, Risk Control, Claims, Legal, Field Leaders, Governance and other internal partners to drive alignment for the mutual benefit of both Small Business and the UFG organization.
- Participate in ongoing industry/product training
- Provide guidance, mentoring, and coaching to other team members.
- Special projects as assigned.
Qualifications:
Education:
- 4-year college degree preferred
- Must have or be working toward AU, CIC, or CPCU designation.
Experience:
- Minimum 5 years of commercial lines insurance underwriting experience; small business focus preferred.
Knowledge, skills & abilities:
- Knowledge of policy administration systems
- Knowledge of the broad range of business generally insured by UFG.
- Risk evaluation skills and solid insurance contract knowledge.
- Strong analytical and negotiating skills.
- Knowledge of agency force and current market environment.
- Strong knowledge of industry coverages, forms and policy language
- Affinity for detailed accuracy, appropriate to service level agreements
- Ability to work in a fast-paced environment while prioritizing and completing work efficiently and effectively.
- Ability to develop positive relationships with coworkers and agents.
- Strong communication skills, both written and verbal.
- Ability to provide excellent customer service.
- Ability to teach others and monitor their development.
Working Conditions:
- General office environment
- Occasional travel required.
