Associate Underwriter - Executive Products (Wholesale)

RLI Insurance Company; Dallas (TX); On-site; USD 70,000 - 96,000; Full time

Benefits offered by this job

Hybrid work arrangements

ESOP

401(k) company contribution

PTO & holidays

Job summary

RLI Insurance Company in Dallas, TX, seeks an Associate Underwriter who will learn the underwriting process from application to policy issuance under supervision. They will interact with brokers and internal teams to manage submissions and become proficient with the rating model and underwriting system.

Requires a bachelor's degree and 0–3 years of related experience. You will review financial statements, provide quotes to brokers, and support underwriting tasks while pursuing insurance

Qualifications

• Requires a bachelor's degree in a relevant field.
• 0-3 years of related work experience.

Responsibilities

• Learn the entire underwriting process from start to finish.
• Review incoming submissions to determine viability for quoting.
• Review application and complete analysis of financial statements to determine submission viability.
• Provide new business quotes to brokers after review with underwriter.
• Complete detailed underwriting worksheet including financial analysis and opinion.
• Handle underwriting system entry for submission including rating model and endorsements.
• Perform policy review and approve for issuance.
• Analyze, evaluate, accept/decline, rate, quote and bind submissions with guidance.

Education

Bachelor's degree

Tools

Rating model

Underwriting system

Job description

About Us

We’re not like other insurance companies. From our specialty products to our business model, our culture to our results — we’re different. Different is who we are, and how we work, interact, deliver and succeed together. Creating a different and better insurance experience doesn’t just happen. It takes focus and a shared passion for going beyond the expected to forge relationships and deliver care that makes a difference. This approach rises from and is supported by our talented, ethical and smart team of employee owners united around a single purpose: to work alongside our customers and partners when they need us, in unexpected ways, with exceptional results.

RLI is a Glassdoor Best Places to Work company with a strong, successful background. For decades, our financial track record has been stellar — a testament to our culture and validation of our reputation as an excellent underwriting company.

Position Purpose

Our Associate Underwriter will learn the underwriting process from application through policy issuance under frequent supervision. They will learn to interact with internal team members and broker customers to efficiently and accurately manage the underwriting process. They will become proficient in the technical platform and processes involved in underwriting accounts for Executive Products Group. They will utilize judgement to align the aspects of the account to ensure consistency amongst the quote, binder, and policy. They will learn to review submission materials and financial statements to determine risk appropriateness for our underwriting appetite. They will study for and complete insurance examinations and attend any relevant training sessions to complete relevant insurance examinations

Principal Duties & Responsibilities

• Learn the entire underwriting process from start to finish.
• Review incoming submissions to determine viability for quoting.
• Review application and complete analysis of financial statements to determine submission viability.
• Provide new business quotes to brokers, after review with underwriter.
• Complete detailed underwriting worksheet to include financial analysis, business review and underwriting opinion
• Handle underwriting system entry for submission including rating model, selection of policy form and endorsements
• Perform policy review process and approve for policy issuance.
• Analyze, evaluate, accept, decline, rate, quote, and bind new or renewal submissions across private, public, and non-profit sectors with management guidance
• Build relationships between wholesale brokers in the territory.
• Assist with special projects or other duties as needed.

Education & Experience

• Requires a bachelor's degree; preferred in insurance, risk management, finance, accounting or business
• 0-3 years of related work experience for consideration

Knowledge, Skills, & Competencies

• Ability to use analytical methods in underwriting processes to find workable solutions.
• Ability to verbally and in writing, communicate findings and recommendations to internal and external contacts on underwriting matters.
• Ability to use software to summarize and analyze underwriting accounts.
• Ability to build marketing relationships Executive Products Group brokers and agents
• Understands, applies, & properly documents nature of operations of the risk for accounts assigned & communicates findings.
• Ability to prepare, review, and complete underwriting analysis of accounts.
• Analytical skills and understanding of submission requirements, model entry, and product appetite.
• Provide timely, courteous and efficient service all internal and external candidates
• Ability to effectively review corporate financial statements
• Participates in underwriting related continuing education, i.e. RPLU courses.

Compensation Overview

The base salary range for the position is listed below. Please note that the base salary is only one component of our robust total rewards package at RLI. The salary offered will take into account a number of factors including, but not limited to, geographic location, experience, scope & responsibilities of the role, qualifications/credentials, talent availability & specialization, as well as business needs. The below range may be modified in the future.

Base Pay Range

$33.70 - $46.32

Total Rewards

At RLI, we’re all owners. We hire the best and the brightest employees and allow them to share in the company's success through our Total Rewards. With the Employee Stock Ownership plan at its core, the Total Rewards program includes all compensation, benefits and perks that come with being an RLI employee.

Financial Incentives

• Annual bonus plans
• Employee stock ownership plan (ESOP)
• 401(k) — automatic 3% company contribution
• Annual 401k and ESOP profit-sharing contributions (Up to 15% of eligible earnings)

Work & Life

• Paid time off (PTO) and holidays
• Paid volunteer time off (VTO) to support our communities
• Parental and family care leave
• Flexible & hybrid work arrangements
• Fitness center discounts and free virtual fitness platform
• Employee assistance program

Health & Wellness

• Comprehensive medical, dental and vision benefits
• Flexible spending and health savings accounts
• 2x base salary for group life and AD&DD insurance
• Voluntary life, critical illness, & accident insurance for purchase
• Short-term and long-term disability benefits

Personal & Professional Growth

RLI encourages its employees to pursue professional development work in insurance and job-related areas. We make a commitment to employees to provide educational opportunities that help them enhance their skills and further their career advancement. RLI fosters a true learning culture and encourages professional growth through insurance courses, in-house training and other educational programs. RLI covers the cost for most programs and employees typically earn a bonus upon successful completion of approved courses and certifications. Our personal and professional growth benefits include:

• Training & certification opportunities
• Tuition reimbursement
• Education bonuses

Diversity & Inclusion

Our goal is to attract, develop and retain the best employee talent from diverse backgrounds while promoting an environment where all viewpoints are valued and individuals feel respected, are treated fairly, and have an opportunity to excel in their chosen careers. We actively support, and participate in, initiatives led by the American Property Casualty Insurance Association that aim to increase diversity in the insurance industry. Cultivating an exceptional and diverse workforce to deliver excellent customer service reinforces our culture and is a key to achieving superior business results.

RLI is an equal opportunity employer and does not discriminate in hiring or employment on the basis of race, color, religion, national origin, citizenship, gender, marital status, sexual orientation, age, disability, veteran status, or any other characteristic protected by federal, state, or local law.