Underwriting Specialist, Former Customer Unit and Buyouts, Global Risk Solutions

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The Senior Underwriter / Underwriting Specialist is responsible for ongoing underwriting handling of former accounts, including collateral management, buyout/closeout transactions and service-related activities.

Responsibilities:

• Analyzes former account’s historical plan structure and current state of body of losses; calculates, communicates and defends updated collateral and escrow requirements.
• Manages expiring collateral situations.
• Maximizes collection of retro premium and deductible loss billing amounts by resolving customer/producer confusion and/or concerns.
• Evaluates, prices and executes on plan buyout requests.
• Provides subject matter expertise to corporate legal and other departments on former account questions, disputes and/or litigation.
• Develops and maintains strong relationships with key business partners though effective collaboration, critical thinking and a high level of responsiveness.
• Actively participates in continuous improvement by fully engaging in team meetings, generating suggestions, following appropriate procedures and work principles, participating in problem solving activities, and using continuous improvement tools to support the work of the team.
• Documents transactions thoroughly in department workflow system and in iUnderwrite Document Management.

Please note this position can be hired at various Underwriting levels – consideration will be given based on related professional and functional experience.

• Significant knowledge of insurance products/coverage; insurance finance and actuarial concepts; advanced-level knowledge of underwriting, pricing, loss development.
• Ability to utilize underwriting (especially Excel-based) tools, systems, and resources, solve complex problems, establish and build healthy working relationships, communicate effectively, and negotiate.
• A related bachelor’s degree, 5-8+ years of commercial lines underwriting experience preferred; CPCU or professional insurance designation preferred.