Our Wholesale Excess Casualty Underwriters are high level individual contributors responsible for overall management, business development, growth and profitability of a book of Excess Casualty business spanning a wide range of industry segments and revenue bands. This position will have a heavy emphasis on new business production through targeted wholesale broker distribution in a multi-state territory. Recognized as a technical expert in an underwriting specialty, they will drive business results through strong sales, marketing and relationship building skills with external producers and internal business partners (local Branch and Home Office teams).
CNA distributes its products through partnerships with key wholesalers and manages the production of those relationships through high visibility, superior customer service, and demonstrating excellence in technical underwriting disciplines. Our operating model focuses on underwriting performance, exposure-based pricing, and building strong producer and customer relationships. This is accomplished by executing to CNA's core principles and maintaining a strong working relationship with internal business units including Claim and Risk Control.
The Underwriter is responsible for using technical, sales and analytical skills to provide insurance solutions that help CNA's customers manage risk. The Underwriter will have a thorough understanding of CNA's strategies and appetites and will use internal and external data to make appropriate individual and portfolio risk decisions.
The Underwriter is responsible for the profitable growth of an assigned book of business, utilizing underwriting policies and guidelines, rating rules and insurance laws and regulations. The open position is located in the Chicago or Lisle, IL office reporting to the SVP of Underwriting.
Essential Duties and Responsibilities include the following. Other duties may be assigned.
1. Underwriting Expertise
- Reviews applications and financial requirements to determine acceptability of risk in accordance with CNA's guidelines and standards
- Understands pricing components and rating methodology as well as use of the pricing models; prices risk based on financial and competitive analysis
- Analyzes coverage and limits of underlying policies to properly structure the CNA Umbrella or Excess coverage suite
- Completes underwriting documentation to detail the underwriting thought process including analysis of operations, exposures, coverage and losses.
- Demonstrates technical underwriting skills through thorough account reviews and file documentation
- Keeps current on state/territory issues, regulations and trends
2. Portfolio Management
- Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, product mix, new business and portfolio management goals
- Prioritizes time and resources to effectively manage and optimize producer performance
- Operates with an Enterprise perspective to identify cross sell opportunities and create growth within other lines of business and customer segments
- Demonstrates in-depth knowledge of CNA's products and appetite while clearly communicating CNA's position at the point of sale
3. Sales & Distribution Management
- Builds/maintains rigorous sales practices using all CNA systems including SalesForce.com and other sales tools and disciplines
- Develops producer relationships to build pipeline, agency intelligence, and drives performance to meet and exceed results
- Develops and implements distributor specific plans, monitors performance, and adjusts plan to ensure a substantial pipeline for future profitable growth
- Drives effective relationship management and customer activities to build trust, facilitate negotiation and secure commitment with the customer
- Proactively identifies cross-sell opportunities and partners with other underwriters to deliver comprehensive insurance solutions for the customer
In all responsibilities and interactions, all employees are expected to adopt and align with CNA's Winning Behaviors – to be externally focused, accountable, collaborative, innovative, and continuously learning.
Knowledge, Skills and Abilities
- Knowledge of underwriting processes, coverages, and tools to gather and evaluate information in order to reach appropriate decisions on renewals and new business
- Ability to effectively interact and communicate with all levels of external and/or internal business partners within scope of responsibility, team and/or matrix environment
- Ability to uncover customer needs, position specific solutions, handle objections and close deals
- Ability to exercise judgment, negotiate and make sound business decisions effectively based on level of authority
- Strong ability to identify, analyze and solve problems as well as the ability to learn rapidly, adapt quickly to change, exercise influence, and manage and prioritize multiple concurrent projects
Owned by Loews Corporation, CNA is one of the country's largest writers of commercial insurance, providing protection to more than 1 million businesses and professionals in the U.S. and internationally. We offer unique expertise for the businesses and industries we serve, providing quality products and dependable services that help prevent and minimize loss. Our focus on providing solutions and inspiring trust differentiates us from other companies and supports long-term relationships. Our commitment to diversity enables us to serve a broad range of customers while supporting our communities through charitable contributions and employee volunteerism.