Underwriting Analyst

Job Overview

The Underwriting Analyst will work closely with a direct manager and a team of experienced underwriters to acquire the knowledge necessary to conduct risk evaluations of U.S. and global organizations. The Underwriting Analyst will research and evaluate all topics that impact Directors and Officers Liability (D&O), Employment Practices Liability (EPL), Fiduciary Liability insurance, and Financial Institutions (FI), assessing each company's operations, financials, governance, and other specific risk factors.

Job Responsibilities

• Through formal training and shadowing, working closely with a direct manager and team of experienced underwriters, acquire a baseline of knowledge of ORPRO’s core insurance products.
• Through formal training and shadowing, working closely with a direct manager and team of experienced underwriters, develop a baseline of knowledge in the relevant fields of study impacting risk analysis for the assigned insurance products, including Directors and Officers Liability (D&O) , Employment Practices Liability (EPL), and Fiduciary Liability. Such fields of study may include but not be limited to financial accounting and statement analysis, business operations management and internal controls, corporate governance, employment practices, macroeconomics, etc.
• Acquire and demonstrate the requisite skills to research and then quantitatively and qualitatively evaluate all topics that impact each insurance applicant’s unique risks with respect to the assigned insurance products, including assessing each insurance applicant’s operations, strategic plans, financials, ownership, governance, internal controls and other unique and/or emerging risk factors.  
• Learn how limits, retentions and key coverage features impact risk selection and rating.
• Learn the Underwriting appetite and guidelines for assigned insurance products.
• Learn the quoting, binding, policy issuance processes.  
• Learn the basics of insurance coverage for the assigned insurance products, by acquiring a basic working knowledge of Old Republic Professional’s policy forms and key endorsements and a basic working knowledge of what types of claims would be covered or not. 
• Develop a basic understanding of the Financial Lines industry (competition, market share, trends).
• Begin learning sales strategies and client development techniques through formal training and shadowing, focusing on how to navigate broker interactions and relationships.
• Attend renewal and new opportunity underwriting calls to support the team’s retention and business development goals, as needed.
• Demonstrate aptitude to research and learn new material efficiently.

Job Requirements

• A bachelor's degree is required, with either a major or minor in insurance, risk management, finance, economics, accounting or a related field preferred.
• Experience reviewing financial statements or familiarity with contracts preferred.
• A self-starter that enjoys working within a team, learning from others, sharing ideas openly and regularly. 
• Strong organizations skills, with the ability to manage multiple assignments.
• Has a high degree of curiosity and desire to learn continuously.
• Consistently displays keen attention to detail.
• Possesses exceptional verbal and written communication skills, including presentation skills.
• Possesses an analytical mind with ability to use critical thinking, professional skepticism and well-reasoned arguments to question norms and differentiate between immaterial technicalities and material facts.
• Aptitude to research and learn new material efficiently.

Location

Location: Chicago

Job Type: Full-time

Remote Work: Hybrid: This position requires a minimum of 3 days in the office to promote collaboration and interaction with onsite associates.

Salary Range

$65,000 - $80,000

FLSA Status: Exempt

About Old Republic Professional (ORPRO™)

Old Republic Professional (ORPRO™), established in December 1983, is a subsidiary of Old Republic International Corporation (NYSE: ORI), one of the nation’s 50 largest shareholder-owned insurance businesses and a member of the Fortune 500 listing of America’s largest companies. Old Republic Professional has provided Directors and Officers liability insurance and Lawyers Professional liability insurance for more than 35 years and now offers a wide array of management liability and professional liability products across an expanding national footprint in the U.S.

Culture

Work-life balance is highly valued; work culture is collaborative; colleagues are professional, passionate, open-minded, and entrepreneurial. We offer competitive wages, a comprehensive benefits package, a friendly, team-oriented environment, and we encourage and reward the professional growth of our employees. Employee benefits include BCBS medical, FSA/HSA accounts, long-term disability, dental, vision, fertility and family building benefits, Employee Assistance Program, paid time off (PTO), paid holidays, Paid Leave of Absence Benefits, 401(k) Savings and Profit-Sharing Plan, 529 Education Savings Plan, Gym Network 360 membership savings on fitness, nutrition and wellness programs, pet insurance, monthly commuting reimbursement, and tuition reimbursement for qualified job-related educational expenses.

Equal Employment Opportunity

Old Republic Professional provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. 

This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.