Underwriting Specialist - Financial Institutions

Underwriter For Financial Institutions

Under technical direction, responsible for underwriting risks in a book of business for Financial Institutions. Works within specific limits of authority on assignments requiring significant technical complexity and coordination. Utilizes underwriting policies and guidelines, rating manual rules and insurance laws and regulations.

Essential Duties & Responsibilities

• Reviews applications and financial requirements for risks requiring complex underwriting skills. Determines acceptability of risk in accordance with company guidelines and standards. Also, determines the need for additional evidence of insurability and appropriate strategy.
• Determines appropriate pricing based on financial and competitive analysis in line with compliance requirements.
• Prepares quotes and answers questions from agencies, policyholders or other external contacts and escalates issues to management along with proposed solutions as necessary. Negotiates with agents to reach positive and profitable outcomes.
• Notifies agencies of adverse underwriting decisions, rate appeals, underwriting requirements, status and declinations.
• Analyzes quality, quantity, and profitability of risks underwritten and prepares reports for management review.
• Markets products and services through agencies or through the brokerage community and makes field visits. Develops and maintains agency and / or broker relationships.
• May provide guidance and assistance to other underwriters and to other functional areas, particularly when related to cross-sell opportunities.
• Keeps current on state / territory issues and regulations, industry activity and trends and freely shares information with others.
• Utilizes advanced functionality in relevant CNA systems to perform day-to-day activities.
• Works with more senior underwriters or management on risks exceeding authority level or requiring special handling.

Skills, Knowledge & Abilities

Education & Experience