What are the responsibilities and job description for the Underwriting Manager - Specialty Insurance position at PMA Companies?
- Lead specific members of the Specialty Markets Underwriting Team in executing strategies consistent with corporate and regional business goals, guidelines, and programs.
- Mentor and provide technical training and guidance to direct reports.
- Handle underwriting referrals from direct reports for renewals, as well as terrorism referrals and other matters based on Letters of Authority. Collaborate with New Business Referral Underwriter.
- Maintain underwriting responsibilities for a book of captive and program business.
- Analyze, select and profitably price highly complex commercial risks and determine terms and conditions of coverage on new and renewal business.
- Apply and conform to underwriting rules and guidelines, rating manuals, insurance laws/ regulations.
- Utilize a consultative selling approach to generate new business consistent with underwriting strategy and in coordination with service team members to include accurately assessing the needs of the broker and the client and formulating solutions that effectively address those needs.
- Analyze underwriting & marketing activities and corresponding results; prepare reports to management.
- Determine, coordinate and direct account management activities with various departments.
- Negotiate and deliver proposals to producers and buyers.
- Develop and maintain client relationships and coordinate service team efforts.
- Identify opportunities for organizational improvement and recommend solutions.
- Demonstrate commitment to Company's Code of Business Conduct and Ethics, and apply knowledge of compliance policies and procedures, standards and laws applicable to job responsibilities in the performance of work.
Qualifications:
- Bachelor's degree or equivalent (at least 7 years of experience) casualty underwriting experience with an insurance carrier required.
- 1 year underwriting management experience is desired however candidates with at least 5 years senior, professional underwriting experience will also be considered.
- Advanced understanding and technical knowledge of underwriting mechanics and fundamentals.
- Advanced knowledge of casualty coverage and loss sensitive deal structures (retrospective rating, large deductible, captive, and self insurance). Additional knowledge in financial analysis, account management and collateral management is desired.
- Advanced knowledge of market conditions as well as industry trends. Advanced knowledge of underwriting territory and strong relationships with the local distribution network (local and regional agents, national and regional brokers, and select consultants).
- Demonstrated proficiency in the successful marketing and prospecting of business opportunities, as well as, relationship building and agency management skills.
- Able to create a presence that conveys interest, conviction, and energy in maintaining relationships with external business partners.
- Strong ability to effectively communicate, verbally and in writing, to uncover business needs.
- Ability to foster creative solutions that resonate with external business partners.
- Demonstrated ability to interact with various levels of management and support personnel.
- Advanced skills in marketing, analysis, decision making/problem solving, planning and organizing; sales and negotiation and mathematical proficiency.
- Strong desire to work collaboratively and foster a "team oriented" environment (heavy interaction with Claims and Risk Control in particular).
- Willingness to travel for business purposes. The Assistant Underwriting Manager is expected to be visible with their agents and brokers in order to develop and maintain solid relationships and generate an adequate flow of qualified business.
- Chartered Property Casualty Underwriter (CPCU); Associate in Risk Management designation or other professional designations are desired.
