Underwriting Specialist (Commercial Middle Market P&C) at CNA
CNA's Commercial Middle Markets team provides standard lines commercial property and casualty insurance products such as General Liability, Property, Inland Marine, Commercial Auto, Workers' Compensation, and Umbrella to businesses of all sizes. Our Middle Markets team underwrites a diverse mix of business and industry classes including Manufacturing, Professional Services, Construction, Financial Institutions, Healthcare, Real-estate, Distributors, Technology, Wholesale, and Retail. Typical account sizes range from $50,000 up to $1,000,000 and over in premium on a multi-line basis.
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 manual rules and insurance laws and regulations. The open position is located in our Lisle, IL office reporting to the Commercial Officer and is responsible for a commercial middle markets P&C book of business for a localized assigned agency distribution.
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
Driven by our commitment to our customers, CNA's winning behaviors (externally focused, accountable, collaborative, innovative, and continuously learning) distinguish us from our competitors. CNA employees exemplify these behaviors in all responsibilities and interactions.
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.