Job Title: Underwriting Manager
As an Underwriting Manager at our commercial insurance company, you will be responsible for overseeing the underwriting operations and managing a team of underwriters. Your primary objective will be to ensure the efficient and accurate evaluation of commercial insurance applications, while maintaining compliance with company guidelines, policies, and regulatory requirements. The Underwriting Manager plays a crucial role in assessing risks, making informed decisions, and contributing to the profitability and growth of the organization.
Leadership and Team Management:
• Lead, mentor, and supervise a team of underwriters, providing guidance, support, and training as needed.
• Foster a positive work environment that promotes teamwork, collaboration, and professional development.
• Set performance goals, evaluate performance, and provide regular feedback to team members.
• Effectively allocate resources and manage workload distribution to ensure timely completion of underwriting tasks.
• Oversee the underwriting process for commercial insurance applications, including reviewing submissions, analyzing risks, and making sound underwriting decisions.
• Develop and maintain underwriting guidelines, policies, and procedures, ensuring alignment with industry standards and regulatory requirements.
• Conduct in-depth risk assessments, utilizing various data sources and tools to evaluate the potential for loss.
• Collaborate with underwriters to identify and implement appropriate risk mitigation strategies and pricing models.
• Stay updated with industry trends, emerging risks, and regulatory changes to adjust underwriting strategies accordingly.
• Establish and maintain strong relationships with key stakeholders, including brokers, agents, and internal departments.
• Provide exceptional customer service by addressing inquiries, resolving issues, and delivering clear and timely communication.
• Collaborate with the sales team to support business development efforts, identify cross-selling opportunities, and enhance customer satisfaction.
Compliance and Quality Assurance:
• Ensure compliance with regulatory requirements, industry best practices, and internal policies throughout the underwriting process.
• Conduct quality control reviews to verify accuracy and consistency of underwriting decisions and documentation.
• Implement and maintain robust data integrity controls to uphold the reliability and integrity of underwriting data.
Performance Analysis and Reporting:
• Monitor and analyze underwriting performance metrics, such as loss ratios, risk exposure, and profitability, to identify areas for improvement.
• Generate reports and present findings to senior management, offering insights and recommendations to optimize underwriting strategies and processes.
• Contribute to the development of new products, pricing models, and underwriting guidelines based on market research and analysis.
Qualifications and Skills:
• Bachelor's degree in risk management, insurance, finance, or a related field (advanced degree preferred).
• Extensive experience in commercial underwriting, preferably in a managerial or supervisory role.
• In-depth knowledge of commercial insurance products, policies, and underwriting principles.
• Strong analytical and critical-thinking skills, with the ability to assess complex risks and make informed decisions.
• Excellent leadership and team management abilities, with a track record of effectively leading and developing a team.
• Outstanding communication and interpersonal skills, enabling effective collaboration and relationship-building.
• Proficient in using underwriting software systems and data analytics tools.
• Knowledge of industry regulations and compliance standards.
• Results-oriented mindset with a focus on driving operational excellence and achieving business objectives.
- Join our dynamic team and contribute to our company's growth while ensuring the delivery of high-quality underwriting services to our valued customers.