Underwriter, Commercial Lines

Please note, employment offered to residents in the following states only: Connecticut, Delaware, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont.

Preferred Benefits

At Preferred, we understand the importance of holistic health. To meet the diverse needs of our employees, we offer a comprehensive set of benefits:

Financial

• Short-term disability, long-term disability, and life insurance coverage are provided at no cost
• Optional benefits include enhanced life insurance and critical illness plans
• 401k plan with an employer contribution that you will receive regardless of your own contribution to the plan
• Pension Plan
• Certain positions may also be eligible for short-term incentive plans.
  
  

Social

• Generous paid time off, offering of 25 days at hire (prorated based on start date for the first year)
• 7 days of paid sick leave
• 10 paid company holidays
• Personalized paid time off after 3 years!
  
  

Emotional

• Access to Modern Health, a provider of accessible, personalized mental health care
  
  

Physical

• Medical, dental, and vision coverage options begin on the first day of employment
• Flex Spending Accounts and Health Savings Accounts (with employer contribution) are available based on the medical plan you choose
  
  

Your Purpose And Function In Our Company

This Commercial Lines Underwriter will primarily focus on New Business.

Underwriters are responsible for driving profitable growth of the business unit by underwriting new/renewal policies within assigned authority, and building and maintaining strong agency relationships, partnering with agency staff and -Field Underwriting Managers. The UW should work closely with the Underwriting Associates and Business Services staff, following established workflows, to ensure all policies are underwritten in the most efficient and effective manner while meeting service standards and performance goals.

• Cultivate, review, and underwrite new and renewal policy accounts with assigned agents
• Ensure proper classification and pricing of individual risks, leveraging company models in addition to individual risk underwriting
• Perform selection or rejection of insurance risks in accordance with company standards and procedures as outlined in underwriting guidelines
• Apply sales and marketing techniques and efforts towards meeting SBU and agency goals
• Foster and maintain key agency relationships within assigned agency base
• Drive sales/growth within assigned Agency base, meeting production, retention, rate and profitability goals within the territory
• Maintain external visibility with agency partners via a combination of in-person travel, virtual meetings and proactive phone/email communications
• Develop technical expertise in product offerings, forms, policy language, (including competitor offerings)etc.
• Develop an understanding of the agency review process, contributing to the development of tactics to achieve financial plans
• Participate in the maintenance and updating of departmental procedures
• Leveraging portfolio management tools and techniques, participate in enhancing self and team’s overall knowledge and expertise of the book of business.
• Agency Management: Work with -Field Agency Managers to recognize and analyze agency performance, working with management to make appropriate adjustments to drive increased growth and/or profitability.
  
  

Key Capabilities For Success

• Interpersonal effectiveness
• Managing relationships
• Customer focus
• Collaborating
• High-impact communication
• Sustaining agency customer satisfaction
• Leadership impact
• Energetic approach to the business / positive impact on team cohesiveness and morale
• Leveraging feedback
• Execution
• Facilitating change
• Managing sales engagements
• Becoming a trusted business advisor
• Creating a service reputation
• Identifying sales opportunities in collaboration with -Field Agency Manager
• Business management skills
• Developing business acumen
• Developing technical/professional knowledge and skills
• Developing ability to make decisions independently
• Personal effectiveness
• Leveraging feedback to drive continuous improvement
• Adheres to SLAs and quality metrics
• Shows continuous improvement through applied learning
• Able to succeed in a high-volume, at times stressful environment
  

Qualifications

• Associate's degree preferred but not required.
• 0-3 years of experience in insurance industry, P&C underwriting experience strongly preferred
• Excellent oral and written communication, listening, team building, organizational and negotiation skills
• Relationship management experience and proven ability to manage conflict and drive sales
• Time management skills that support the achievement of goals and objectives
• Knowledge of insurance products, underwriting guidelines and philosophy
• Skilled in the areas of account planning, account selling and product strategies
• Demonstrated ability to analyze and proactively respond to market needs and trends by recommending programs that are mutually beneficial and profitable to the Agency and the Company
• Valid driver’s license and ability to travel up to 10% of the time regularly, more travel may be required as business needs dictate
  
  

ABOUT US: As a mutual company, we are independent by nature, so we think about insurance solutions a little differently. Through listening, problem solving, examining your challenges and collaborating on the right solutions for you, Preferred Mutual independent agents provide flexible solutions and adapt to your evolving needs. We do the same for our employees. We are process and domain experts, focused on the solutions that deliver results for our clients and our company. We offer a great work environment, professional development, challenging careers, and competitive compensation. With Preferred, there are no surprises. You can count on us to deliver on our promises and be there when you need us, as your insurance provider and your employer. Preferred Mutual is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability, protected veteran status or other characteristics protected by law.

DISCLAIMER: This role (job) description indicates in general terms, the type and level of work performed as well as the typical responsibilities of employees in this classification. The duties described are not to be interpreted as being all-inclusive to any specific employee. Management reserves the rights to add, modify, change or rescind the work assignments of different positions and to make reasonable accommodations so that qualified employees can perform the essential functions of the job. Nothing in this position description changes the at-will employment relationship existing between Preferred Mutual Insurance Company and its employees.

The base pay range for this position is $58,500-$73,000 paid on a salaried basis. The rate offered to any candidate will be reflective of the candidate’s experience and any relevant education, certification, or qualifications related to their ability to perform the responsibilities of this position as permitted by law.