Commercial Lines Underwriter II

First Chicago Insurance Company; Chicago (IL); On-site; USD 41,000 - 81,000; Full time

Job summary

First Chicago Insurance Company is seeking a Commercial Underwriter to work with the Commercial Account team. You will underwrite and price new and renewal business, manage agency relationships, and contribute to profitability and department goals.

Ideal candidates have 3-5 years in Commercial Lines underwriting (Auto, GL) and strong knowledge of rating plans, state requirements, and pricing strategies. This role offers growth and leadership opportunities.

Qualifications

• 3-5 years of Commercial Lines underwriting experience in AGL (Auto, GL) segments.
• Proficient with Word, Excel and PowerPoint.
• Knowledge of coverage, rating plans and state requirements.
• Excellent oral and written communication skills.
• Organized and detail oriented with multi-tasking ability.
• Able to work independently and collaboratively.
• Understanding of 1st dollar and deductible pricing strategies.
• Strong knowledge of property and casualty insurance.

Responsibilities

• Maintain knowledge of coverage, exposures, rating plans and state requirements.
• Handle and maintain a book of business up to $7MM in Written Premium.
• Underwrite and price new and renewal accounts with proper file documentation.
• Enter new business policies, endorsements, and renewals.
• Manage monthly billing on direct bill accounts and take payments.
• Provide timely responses to agent inquiries.
• Monitor loss ratios and risk profiles; recommend terminations or re-underwriting.
• Review daily claims and communicate issues to agents.
• Maintain knowledge on rating, pricing, guidelines, and forms for assigned lines.
• Mentor and train Commercial Lines Underwriters and Juniors.
• Explore new products and markets for future entry.
• Share knowledge of industry trends and company programs.

Skills

Communication

Organization

Multitasking

Independent work

Collaboration

Strategic thinking

Pricing strategies

Education

College Degree

CPCU/ARM certifications (preferred)

Tools

MS Word

MS Excel

PowerPoint

Industry resources & databases

PTS

AS400

Job description

We are seeking A Commercial Underwriter to join our team! The Commercial Lines Underwriter will work independently and collaboratively with the Commercial Account team to provide a high level of customer service to policyholders. Develop new and maintain existing agency relationships. Underwrite new and renewal business focusing on profitability. Contribute to the success of the department in meeting department and company goals.

Duties & Responsibilities

• Responsible for maintaining a high-level knowledge of coverage, exposures, rating plans and state requirements to perform the job
• Handle and maintain a book of business up to $7MM in Written Premium
• Underwrite and price new and renewal accounts with proper file documentation in a timely manner
• Enter new business policies, endorsements, and renewals
• Manage the financial aspects of accounts sending out monthly billing invoices on certain direct bill accounts, taking phone payments as needed, etc
• Provide timely responses to agent inquiries
• Monitor account and agency loss ratios and risk profiles, make recommendations on agency terminations and/or re-underwriting programs
• Review daily claims and act accordingly to communicate to agents on issues with drivers or accounts.
• Command full knowledge on rating, pricing, guidelines, and forms for assigned specialty lines of business
• Mentor and train less experience Commercial Lines Underwriters (Commercial Lines Underwriter I and Commercial lines Junior Underwriter)
• Forward thinking with new product and business segments or states to enter
• Maintain and share knowledge of industry trends, market conditions and company programs

Qualifications Required

• Proficient in Word, Excel, Power Point
• Proficient with Industry Resources and databases
• Working knowledge of carrier billing and processing systems; PTS and AS400 preferred
• Excellent oral and written communication skills
• Organized and detail oriented with ability to multi-task
• Ability to work independently and collaboratively simultaneously
• Minimum 3 - 5 years of Commercial Lines Multiple Line Underwriting experience with expertise in Commercial Auto (Taxi, Livery, Para Transit) and Commercial General Liability (Contractors and OL&T)
• Demonstrated knowledge of the property and casualty insurance industry.
• Excellent organizational and interpersonal skills.
• Strategic thinker with ability to support the company position
• Demonstrated knowledge of 1st dollar and deductible pricing strategies

Preferred

• College Degree
• Professional Designations (CPCU, ARM, etc.)

Estimated Compensation Range: $41,250,/year-$81,250/year*

• Published ranges are estimates. Offered compensation will be based on experience, skills, education, certifications, and geographic location.