Sales Middle Market Underwriting Specialist
Our Middle Market department is seeking a Sales Underwriter to join our growing team in our Upstate New York territory.
Responsible for identifying, soliciting, underwriting and selling new and renewal Middle Market 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.
This is a Full-time, Exempt role.
- Knows and applies 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
- Understands pricing components and rating methodology and correlates pricing to exposure, financial and competitive analysis
- 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 state regulations and can clearly explain account decisions
- Adheres to CAT guidelines and underwriting discipline to minimize exposure and appropriately price individual risks
- Provides clear and concise rating instructions for quotes prior to generating proposal for presentation to the agent
Portfolio Management & Financial Acumen:
- Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, industry and LOB mix, new business and portfolio management goals.
- Developing an understanding of various financial reporting information and insurance performance measures in the management of risk (OBIEE Reports).
- Demonstrates an understanding of the market factors 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.
Sales Acumen and Customer Advocacy:
- 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.
- Keeps current on state/territory issues, regulations and trends. Utilizes market and competitor information to enhance agent relationships by becoming a trusted advisor.
- 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 enhanced sell opportunities and create growth within other lines of business and customer segments. Partners with other business units to deliver comprehensive insurance solutions.
- Demonstrates in-depth knowledge of Hanover’s products and appetite, clearly communicating Hanover’s position at the point of sale.
- Builds and maintains rigorous sales practices using all systems including SalesForce.com and other sales tools and disciplines as outlined in the sales best practices.
- Makes sales presentations to agents and customers:
- 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.
- Develops and implements Territory Business Plan for assigned agency partners.
- Bachelor’s Degree or equivalent experience
- Generally, 3-7+ years standard commercial lines experience. Experience with account size $100K and above preferred.
- Communication (written and verbal) - 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.
“The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.
Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.”
As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. If you require a reasonable accommodation, as a candidate for employment, please inform The Hanover Talent Acquisition office.
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- Job Family Underwriter
- Job Function Underwriting
- Pay Type Salary
- Albany, NY, USA
- Hudson Valley, NY, USA
- Syracuse, NY, USA