This position offers an option to work remotely from home or work hybrid in a nearby office.
Under technical direction, responsible for underwriting risks in a book of business for Ocean Marine with focus on one or a combination of the following Ocean Marine Products: Marine Cargo, Marine Liabilities, Brownwater Marine Hull/P&I. Works within specific limits of authority on assignments requiring significant technical complexity and coordination. Utilizes underwriting policies and guidelines, rating manual rules and insurance laws and regulations.
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.
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
- Understands alternative risk finance options (large deductibles, retrospective rating and single parent captives) and legal agreements supporting these programs.
- Uses all appropriate underwriting tools (e.g., Loss Rating Models, 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 for both insurance and construction risks
- 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 account relationship management and customer activities to build trust, facilitate negotiation and secure commitment with the customer
- Active in Construction Industry through association or committee involvement
- 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
CNA is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contact [email protected] .