Middle Market Underwriter, Commercial Lines–Irving Job in Irving 75038, Texas US
Middle Market Underwriter, Commercial Lines--Irving
Liberty Mutual Insurance
“Helping people live safer, more secure lives” since 1912, Boston-based Liberty Mutual Insurance is a diversified global insurer and third largest property and casualty insurer in the U.S. based on A.M. Best Company’s report of 2010 net written premium. Liberty Mutual also ranks 82nd on the Fortune 100 list of largest corporations in the U.S. based on 2010 revenue. As of December 31, 2010, Liberty Mutual had $112.4 billion in consolidated assets, $95.4 billion in consolidated liabilities, and $33.2 billion in annual consolidated revenue.
Liberty Mutual Insurance offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, reinsurance and surety.
Liberty Mutual Insurance (www.libertymutual.com) employs over 45,000 people in more than 900 offices throughout the world.
Launch your Underwriting career at Liberty Mutual - A Fortune 100 Company!
Liberty Mutual Middle Market is currently looking for and experienced Commercial Lines, Middle Market Underwriter to work independently with limited direction, analyzing a company's exposures, hazards, financial ratios, commercial casualty insurance coverage, loss history, pricing targets, and desired program structure to recommend whether to proceed with an account, and if so, under what terms and conditions. In this role you will be assigned to a set of producers, leading the underwriting process to ensure a larger book meets or exceeds growth, profit, retention, rate, mix of business, and other objectives while maintaining a high underwriting authority level.
Responsibilities:
- Evaluates a prospect's/renewal's financial standing, operational strategy, and industry trends to determine whether to proceed with the account, and if so, under what terms and conditions.
- Performs a hazard analysis by combining advanced knowledge and experience with available information on the prospect/renewal and its industry, and where appropriate, leads review with other departments to evaluate a prospect's/renewal's potential exposure to loss.
- Applies understanding of insurance with the hazards identified for the customer to assess the customer/broker request and determine acceptable coverage grants by line of business that address the customer's critical insurance and service needs.
- Using assessments of the prospect's/renewal's operations and anticipated hazards, losses (primary excess), and expenses (service requirements), applies advanced knowledge of pricing tools, manual rates, rating plans, and reinsurance, develops a price for each coverage and rating plan option under consideration that meets or exceeds target returns, and has accountability and ownership of account pricing recommendations.
- Given the customer/broker request, the hazard, coverage, and loss analyses, and the competitive situation, recommends program structures (coverage, limits/retention, rating plan/pricing, and billing combinations) achieving desired Business Unit goals, including long term profitability.
- Creates a proposal that presents a business case reflecting the prospect's/renewal's critical risk and financial requirements and our unique value proposition. Understands the customer and/or producer buying decisions. Supports the territory manager who leads the proposal presentation.
- Cultivates effective business relationship with accounts, providing risk stewardship including initial setup of service commitments and ongoing consultation. Completes all required steps on account setup, documentation, and account management. Partners with service providers to build long-term relationships between customers/brokers and Liberty and manages expectations of all parties.
Qualifications:
- Bachelor's degree and at least 3 to 8 years of relevant commercial underwriting experience
- Emphasis on Commercial Property, GL and Auto; Package Products
- CPCU designation preferred
- Demonstrated Agency knowledge and experience
- Advanced level of knowledge of commercial property casualty products; insurance operations; finance and actuarial concepts; regulatory environment; competitive environment; reinsurance; account management; underwriting; and producer management;
- Professional skills required include analyzing and problem solving; adaptability; decision making, building relationships; courage; innovation, working effectively with others; communicating effectively; negotiation; influencing others; applying financial acumen; focusing on service; executing well; planning and organizing work; and achieving results
Benefits:
We recognize that talented people are attracted to companies that provide competitive pay, comprehensive benefits packages and outstanding advancement opportunities. For this reason we offer a Comprehensive Benefits Plan that includes the following:
- 401K and Company paid pension plan
- Medical coverage
- Dental coverage
- Paid time-off
- Pay-for-Performance
- Discounts on automobile and homeowner's insurance
- Discount fitness memberships
- Flexible spending accounts
- Tuition reimbursement
- Vision care coverage
- Work/Life resources
- Credit Union membership
- Employee and Dependent life insurance
- Disability insurance
- Long-term care insurance
Overview:
We believe strongly that commercial success can be achieved in a manner consistent with principles and ideals that bind us together as one company, that set us apart from our competitors, and that in the end will allow us to say we have succeeded commercially by doing the right thing the right way.
We believe that the Company's success is inextricably linked to our employees' satisfaction and success: satisfaction that they work for an industry leader committed to improving safety, satisfaction that they work for a company that does the right thing, and satisfaction that the company will reward them for their contributions and provide opportunities for personal growth and success.
We believe our employees take pride in knowing that they help people live safer more secure lives everyday.
Additional Information:
- Travel Percentage: 25%
