Underwriting Consultant (Financial Institutions P&C) at CNA
As a market leader with over 100 years of experience and an "A" rating for financial strength, we understand the multitude of challenges and unique exposures of the financial industry. CNA's unparalleled service, expertise and comprehensive products are designed to meet the Financial Institutions industry specialty insurance and P&C needs. We provide full-service enterprise risk management solutions, with our underwriters (Specialty & PC teams), claim professionals and risk control consultants working together for the needs of the customers.
Financial Institutions are comprised of both Public and Private Institutions: Banks/Lending Institutions including Credit Unions, Regional Banks and Community Banks; Asset Managers including Private Equity/Venture Capital, Real Estate Funds & REITs, investment advisors, mutual funds, hedge funds; Insurance Companies including Life and property & casualty companies.
This position will focus on P&C Lines for Financial Institutions like: Property (including bank owned foreclosed properties); Inland Marine; Commercial Auto (including repossessed autos); Workers' Compensation, and Umbrella
Position SummaryThe Underwriter is responsible for using technical, sales and analytical skills to provide insurance solutions that help CNA's customers manage risk within Financial Institutions segment. 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 manual rules and insurance laws and regulations. This position will have a heavy emphasis on new business production; however will carry a limited renewal book generally consisting of larger policy sizes and programs. The open position is located in Dallas, TX.
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 predictive modeling tools; prices risk based on financial and competitive analysis • Uses all appropriate underwriting tools (e.g., RST, BPMT, Merlin, etc.), disciplines and knowledge of strategies to ensure underwriting guidelines are followed • Demonstrates technical underwriting skills through strategic, thorough account reviews and file documentation • Prepares or analyzes information on adverse underwriting decisions, rate appeals, underwriting requirements, status and declinations in order to drive results within the assigned territory • Adheres to CAT guidelines and underwriting discipline to minimize exposure and appropriately price • 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
Education:BA or BS degree highly preferred. CPCU or similar designations desired.
Experience:Candidates should have 2-7+ years in production-focused P&C lines Established relationships with Texas area brokers/agents highly preferred.About CNAOwned 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.