Underwriter Trainee - Commercial Lines

Job Description:

Jewelers Mutual Insurance Company, the nation?s only company exclusively insuring the jewelry industry, has a career opportunity for a property/casulaty Commercial Lines underwriter trainee.

 

SUMMARY

The Underwriter Trainee is a transitional position for those individuals with the necessary skill sets, but lacking in actual Underwriting experience. The Trainee is a temporary position, with expected promotion to the Underwriter position within one year.  Trainees review, evaluate and classify insurance applications, accept or reject applications, provide risk management advice and information, determine final premium for insurance and provide timely and courteous service by performing the following duties within their Underwriting Letter of Binding Authority. 

 

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following.  Other duties may be assigned.

 

Examine and evaluate such documents including but not limited to applications, questionnaires, inspection reports, and financial statements to determine the degree of risk from such factors as the applicant?s or insured?s loss experience for all lines, financial standing, and the value and condition of property to be insured.

 

Determine which applicants are acceptable, work to make marginal applicants acceptable and decline those who are unacceptable.

 

Communicate with agents, brokers, policyholders, inspection companies and other jewelry industry companies to obtain further information, present premium quotations or explain company underwriting policies, premium payment and claims procedures.  Communication must be prompt, courteous and professional. 

 

Recommend adequate limits of insurance, provide loss prevention advice and offer security recommendations/requirements for the financial security of our customers and JM.

 

Provide responsible pricing that is commensurate for the exposure.  Pricing must comply with state filing and the current JM pricing philosophy, and be well documented.

 

Review and comply with company reinsurance procedures by determining the amount of insurance in force on a single risk or group of closely related risks and evaluate the potential for catastrophic losses.

 

Structure and place excess reinsurance as needed.

 

Evaluate agency loss ratios and make recommendations as appropriate.

 

Keep policy files up-to-date, well organized, properly documented and within timelines standards determined by department management.

 

Actively participate and contribute to underwriting department meetings.

 

Effectively work within the commercial lines department, with other departments, committees and with individuals to help improve JM products, procedures, work processes, teamwork and services.

 

Demonstrate the ability to carry a small project through to completion; including participation on project teams or committees as directed by department management.

 

EXPECTATIONS OF THE POSITION

Perform the above work in a manner that reflects high quality and commitment to profitability and retention.

 

Promote retention by offering unique coverages to fit an account?s needs.

 

Keep current on industry related topics, trends and market conditions.

 

Maintain adherence to department guidelines, procedures and standards.

 

Follow up aggressively with agents and insureds to ensure quick turnaround time and superior customer service.

 

Provide feedback and suggest improvements as necessary to management on policy, procedures and processes.

 

Limited travel may be required.

 

EDUCATION and/or EXPERIENCE

Bachelor?s Degree (B.A.) from four-year college or university, or three or more years related experience and/or training; or equivalent combination of education and experience.

 

Possess and continue to improve on underwriting and pricing core competencies and your knowledge of the jewelry and insurance industries and our competition.

 

Underwriting and pricing or related educational courses selected by Underwriting Management to demonstrate competency in carrying out the essential duties and responsibilities of the position. Courses include, but are not limited to, the AU (Associate in Underwriting) program offered through the American Institute for CPCU/Insurance Institute of America.

 

Working knowledge of CRT, PC processing system and office equipment.

 

CERTIFICATES, LICENSES, REGISTRATIONS

Wisconsin resident?s insurance license, nonresident?s licenses in states where applicable, state required continuing education or other related insurance education/courses.

 

Compensation and Benefits:

We offer generous compensation and benefits including health, dental, optical, short-term, and long-term disability insurance plans, paid time off benefits, retirement plans and on-site fitness center.

 

Visit http://www.jewelersmutual.com/ to view the complete job description.

 

Respond in confidence including salary requirements.