If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.
Please Note: This role is open to working remotely in the United States.
Job Description Summary
Are you a proven leader with strategic, creative and technical commercial product and underwriting skills? Do you have deep insights into the insurance industry and competition with the ability to translate those insights into strategic and technical underwriting practices and partner with Underwriting Leaders to implement the practices across Commercial Lines Middle Market insurance? If you have these abilities and a drive to achieve financial goals, set strategic vision and make a difference, then we want to hear from you!
This role is responsible for the underwriting, growth, and profitability of an industry segment(s) through the development and management of profit strategies consistent with Middle Market objectives. Within assigned industry segment(s), directs the national field underwriting organization through effective risk selection, agent/broker relationships, portfolio management, mix of business, CAT exposure management, quality underwriting decisions, territory performance and strategic leadership.
You will be responsible for execution of underwriting standards and the management of the underwriting processes for the industry segment(s). Responsible for implementation of underwriting execution where specialization is critical, and to create distribution, profit, and growth strategies for the industry in conjunction with field leadership teams.
Job Description
Key Responsibilities:
Full responsibility for industry segment(s) P&L results.
Responsible for the development and implementation of strategic long and short-range plans to drive profitable business opportunities within CL Middle Market industry segment(s).
Collaborates with line of business leaders to establish and maintain underwriting guidelines, authority, appetite, and minimum underwriting standards for industries assigned.
Collaborates with field underwriting teams to develop strategies for attracting new clients and retaining existing ones.
Monitors loss trends, regulatory changes, and emerging hazards for assigned industry segment(s) and implements continuous improvement strategies for portfolio improvement.
Responsible for educating the field underwriting teams through industry segment(s) specific knowledge, including insurance principles, industry trends and risk factors.
Collaboration with actuary to understand and refine pricing models aligned with assigned industry.
Rigorous portfolio management to verify risk selection and quality are in alignment with risk appetite and strategy. Measure, monitor and adjust based on geography, broker, product, and industry.
Completes underwriting quality reviews to confirm alignment with underwriting strategy and expectations for assigned industry segment(s).
Supports underwriting excellence by providing input to field directors and leader on quality execution in alignment with underwriting best practices.
Handles account referrals for most complex risk exposures within industry segment(s).
Provides technical advice, mentoring and coaching to the field underwriting teams.
Capacity management (Both CAT and limits management) and reinsurance placement.
Expected to interact with brokers and agents with defined industry practices in alignment with industry segment(s) responsibilities. Will interact with defined clients within the industry segment(s) to best understand the risk and strengthen relationships as a specialist carrier in this segment(s).
Participates in broker visits and industry events to strengthen relationships and gain market insights.
Creates industry white papers to further the education of our team and our broker partners.
Fosters continuous learning and development among team members. Will build out industry specific certification program for the underwriting team.
May Perform Other Responsibilities As Assigned.
Reporting Relationships: Reports to VP, MM National Custom Solutions Practice Leader
Typical Skills And Experiences
Comprehensive knowledge and mastery of industry strategy including underwriting, pricing, operations, finance, and product development. Strong underwriting acumen, insurance industry segments acumen, and overall business acumen. Demonstrated competency in strategic and organizational agility and managing a vision and purpose. Has strong problem-solving skills and proven record of strong decision quality. Strong analytical skills and aptitude for financial evaluation of business performance. Ability to collaborate and build strong relationships across the organization. Can influence drive results, deal with ambiguity, and communicate effectively at all levels in the organization. Strong self-starter who is innovative with initiative. Proven track record of setting goals and delivering results. Extensive underwriting expertise with the ability to integrate knowledge across product lines and segments. Advanced level of technical and industry expertise. Knowledge of commercial property & casualty products; insurance operations; finance and actuarial concepts; regulatory environment; reinsurance; account management; underwriting; producer management; and product development; analyzing and problem solving; decision making, building relationships; courage; innovation; communicating effectively, engaging and motivating people; negotiation; influencing others; focusing on service; managing and improving processes; executing well; planning and organizing work.
Education: Undergraduate studies preferably in business or a related field, graduate studies preferred.
License/Certification/Designation: CPCU, ARM or other industry designations preferred.
Experience: Typically, 15+ years of Middle Market and/or other related commercial lines underwriting, including at least 10 years of management experience.
Knowledge, Abilities And Skills
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring manager’s leader and Human Resource Business Partner.
Values: Regularly and consistently demonstrates Nationwide Values.
Job Conditions
Overtime Eligibility: Exempt (Not Eligible)
Working Conditions: Normal office environment/WFH. Frequent travel required.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
We currently anticipate accepting applications until 09/09/2024. However, we encourage early submissions, as the posting may close sooner if a strong candidate slate is identified before the deadline.
Benefits
We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.
Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.
This position could be filled within any of the lower 48 U.S. states.
Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.
For NY residents please review the following state law information: Notice of Employee Rights, Protections, and Obligations LS740 (ny.gov) https://dol.ny.gov/system/files/documents/2022/02/ls740_1.pdf
Nationwide pays on a geographic-specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range.
The national salary range for AVP, Industry Segments, Middle Market : $140,000.00-$277,000.00
The expected starting salary range for AVP, Industry Segments, Middle Market : $147,000.00 - $247,000.00
Seniority level
Executive
Employment type
Full-time
Job function
Administrative
Industries
Insurance
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