Life Science Underwriting Consultant at CNA
Life Science Underwriting Consultant
With a 30+ year tenure of insuring the life sciences industry, CNA has the brand of a trusted leader and a leading solution provider for a broad spectrum of life sciences firms.
By developing the tools and coverages that help protect their enterprise, CNA solutions are tailored to meet the needs of Clinical Trial Organizations including R&D firms and University Medical Centers; Specialty Pharmaceutical, Generics, and Nutraceutical Manufacturers; Biotechnology; Medical Device Manufacturers; and Distributors & Wholesalers for the life sciences industry group.
Core coverages include Property/Package/General Liability (GL), Products and Professional Liability, Clinical Trials Liability, Commercial Auto, WC, Umbrella/Excess.
This underwriting role is responsible for the overall management, business development, analysis and monitoring of a highly complex book of life sciences business. This role lends itself to internal and external recognition as a technical expert in an underwriting specialty.
Under specialized management direction, a life sciences underwriter works within broad limits of authority on book of business requiring a high degree of technical complexity and coordination.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
1. Works on highly complex underwriting risks employing diagnostic and systematic analysis to assess acceptability. Develops specialized endorsement language for highly complex risk.
2. Determines appropriate pricing of complex risks for assigned book of business based on financial and competitive analysis in line with compliance requirements and with little oversight needed from superiors.
3. Makes recommendations on underwriting policy and pricing strategy.
4. Analyzes quality, quantity, and profitability of highly complex risks underwritten; prepares and presents reports to management.
5. Markets products and services through agencies or through the brokerage community and makes field visits.
6. Develops and maintains agency and/or broker relationships with large producers within the assigned territory to reach positive and profitable outcomes on complex, high-risk business.
7. Keeps current on state/territory issues and regulations, industry activity and trends. May participate in industry trade groups.
8. Mentors and guides less experienced underwriters and assists in the development of underwriting training.
9. Utilizes advanced functionality in relevant CNA systems to perform day-to-day activities.
10. Responsible for special underwriting projects and presentations.
May perform additional duties as assigned.
Manager or above
Skills, Knowledge & Abilities
1. Advanced technical expertise, underwriting skill and high level of knowledge of insurance and underwriting principles, practices and procedures.
2. Strong communication, negotiation and presentation skills. Ability to effectively interact with all levels of CNA's internal and external business partners.
3. Advanced analytical and problem solving skills, with the ability to manage and prioritize multiple projects.
4. Ability to deal with ambiguous situations and issues.
5. Creativity in resolving unique and challenging business problems.
6. Knowledge of Microsoft Office Suite and other business-related software.
7. Demonstrated leadership skills.
Education & Experience
1. Bachelor's degree or equivalent experience. Professional designations preferred.
2. Typically a minimum eight years underwriting experience.