What are the responsibilities and job description for the Underwriter position at FM?
Job Description
Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.
Chemical Operations has an immediate opportunity for an ambitious, intellectually curious and business savvy Underwriter, based in our Norwood, MA office. Are you ready to stretch your professional and personal boundaries with this unique challenge?
This position is accountable for developing underwriting, relationships and engineering skills while providing technical support, primarily on underwriting issues, to the Account Manager in developing sound insurance programs for existing and prospective clients.
This position is a UW I (Grade 12) to UW II (Grade 13), depending on the level of the candidate’s skill and experience. Varying levels of experience and qualifications will be considered. Consideration will be given to relocation benefits.
Responsibilities
Education:
Bachelor’s degree or equivalent qualification/experience; CPCU/ARM desirable
Experience
3 years insurance or financial industry. Experience in processing or field/account engineering a plus
Skills / Knowledge
FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.
Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.
Chemical Operations has an immediate opportunity for an ambitious, intellectually curious and business savvy Underwriter, based in our Norwood, MA office. Are you ready to stretch your professional and personal boundaries with this unique challenge?
This position is accountable for developing underwriting, relationships and engineering skills while providing technical support, primarily on underwriting issues, to the Account Manager in developing sound insurance programs for existing and prospective clients.
This position is a UW I (Grade 12) to UW II (Grade 13), depending on the level of the candidate’s skill and experience. Varying levels of experience and qualifications will be considered. Consideration will be given to relocation benefits.
Responsibilities
- Providing technical support to Account Managers in handling underwriting (UW) details such as risk assessments, value validation, linesettings analysis, reinsurance needs and placement, rating and pricing, coverage analysis, catastrophe aggregate analysis, cross liability assessments, policy review, issuance and other terms and conditions.
- Gaining and maintaining up-to-date knowledge of UW standards, policy forms and loss prevention practices. Ensuring appropriate approvals are current and are in line with most recent underwriting standards.
- Assisting Account Managers in developing insurance programs that satisfy client needs whilst adhering to company policies, procedures and guidelines.
- Independently managing and processing small to midsize accounts/prospects under supervision.
- Maintaining an up-to-date knowledge of market trends, coverage, programs, reinsurance and new developments in the North American insurance market.
- Learning loss prevention and control concepts, including how to read and utilize information from risk reports and utilize this knowledge to assist the Account Manager in exposure identification and analysis.
- Leading UW special projects, including peer reviews and UW audits.
- Attending necessary training classes such as Core UW Skills I, II, and III, Client Service Process Essentials, and other training seminars offered in Norwood, MA or elsewhere in the world as provided by the FM Academy.
Education:
Bachelor’s degree or equivalent qualification/experience; CPCU/ARM desirable
Experience
3 years insurance or financial industry. Experience in processing or field/account engineering a plus
Skills / Knowledge
- Proactive in identifying UW needs and taking initiative to help AMs find solutions
- Flexibility in prioritizing and handling diverse activities and workload
- Strong analytical and problem-solving skills with considerable attention to detail and documentation
- Dedicated team player with excellent communication skills
- Strong computer skills
FM is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.
Salary : $75,000 - $106,000