Consultant, Program Underwriting - Alternative Ventures (Property)

Nationwide Insurance; United States; Remote; USD 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a skilled Underwriting Consultant to join their Property and Casualty team. This role involves analyzing complex risks, developing innovative insurance solutions, and collaborating with various business partners to enhance underwriting processes. The ideal candidate will possess strong analytical skills and a deep understanding of property insurance lines. With a focus on delivering exceptional customer care, this position offers the opportunity to make a significant impact in a dynamic work environment. Join a team that values creativity and problem-solving while supporting clients in protecting what matters most to them.

Benefits

Medical/Dental/Vision Insurance

Life Insurance

Short and Long Term Disability Coverage

Paid Time Off

401(k) with Company Match

Company-Paid Pension Plan

Business Casual Attire

Qualifications

• 5+ years of experience in underwriting with a focus on complex risks.
• Strong understanding of insurance policies, practices, and financial analysis.

Responsibilities

• Analyze complex risks and develop insurance solutions that meet customer needs.
• Collaborate with business partners to implement program-specific tools.

Skills

Risk Analysis

Data Analysis

Underwriting Knowledge

Communication Skills

Problem Solving

Education

Undergraduate studies in Finance, Accounting, Economics, or Risk Management

Graduate degree

Tools

Insurance Software

Job description

If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

The Underwriting Consultant will support Alternative Ventures Property lines of business. The ideal candidate will possess:

• Understanding of property insurance lines, risk analysis, coverage options, policy structure, and audits preferred.
• Ability to evaluate complex risks, including catastrophe-prone properties.
• Demonstrated ability to navigate challenges in underwriting, claims, and compliance.
• Proficiency in analyzing data trends, loss ratios, etc.

All US, work-from-home locations will be considered.

Job Description Summary

Are you a problem solver who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both your analytical and creative abilities to make sound decisions and have a desire to help people solve real challenges, we want to know more about you!

As a Consultant, you'll be responsible for reviewing and analyzing numerous, highly complex lines of business. You'll underwrite individual risk for acceptability, pricing, coverage, terms and conditions. You'll lead in the development and integration of new and existing programs and identify new program opportunities. You will participate in making reinsurance decisions; assist in developing and implementing loss control and risk management strategies. You'll collaborate between business partners for development and implementation of program specific tools (i.e. underwriting guidelines, forms/rate filings, etc) for new programs or modifications to existing programs. You'll communicate program updates to program managers and other business liaisons. In order to succeed, you will need to build and maintain effective relationships with internal business liaisons, external program managers, and brokers. You will be responsible for the training and mentoring of underwriting team members.

Key Responsibilities:

• Drives the sales and underwriting relationship for Programs products and services. Provides input and data to help drive and implement strategic underwriting plans. Provides business forecasting related to trends, and profitability within Program vertical. Responsible for achieving established goals for assigned programs.
• Analyzes program manager relationships/results and recommends corrective actions if necessary. Understands business needs and identifies new business opportunities.
• Reviews highly complex individual risks, programs, or referrals within assigned territory from program managers and declines or accepts business based upon information necessary to make the decision. Acts as a subject matter expert in analyzing exposures to losses; develops adequate premium charge for the exposure. Determines appropriate endorsements and exclusions to address loss exposures for the insurance contract.
• Actively engages in discussions with re-insurers per department guidelines verifying the appropriate use of all reinsurance facilities used by the department. Maintains good working relationship with re-insurers.
• Develops and implements underwriting guidelines, rates, forms, product endorsements and procedures. Assists in the development of department policies and underwriting and standard methodologies.
• Interacts with various business partners (i.e. claims, actuary, compliance, etc.) to achieve company goals and objectives. Acts as an internal consultant responsible for resolving escalated issues and communicating to business liaisons and external sources regarding program initiatives.
• Responsible for audits of individual risks/programs for compliance with company guidelines, state regulations and reinsurance conditions. Development and implementation of specific action plans may be required. Responsible for the resolution of advanced complex technical issues.
• Independently establishes and maintains effective relationships with Program Managers in order to generate growth and profitably. Travels to existing and potential program manager offices, as required for marketing visits.
• Leads in the implementation of all new programs from development of underwriting guidelines, form/rate filings, compliance/regulatory matters, finance, reinsurance, claims, legal, accounting, actuarial and marketing matters to ensure proper program integration.
• Attends industry functions to promote E&S/S Programs brand and capabilities of the programs team in order to help identify new program business opportunities.
• Acts as a resource for direction, training and guidance for less experienced staff. May be responsible for underwriting and support staff.
• Maintains knowledge of insurance regulations; provides consulting regarding legislation that impacts the organization.

May perform other responsibilities as assigned.

Reporting Relationships: Reports to Director/AVP. Acts primarily as an individual contributor; may have three or less direct reports.

Typical Skills and Experiences:

Education: Undergraduate studies with focus in Finance, Accounting Economics, and/or Risk Management. Graduate degree preferred.

Experience: Typically five or more years related experience as a Professional, Financial and/or Specialty lines underwriter. Program leadership experience in professional lines of business is preferred.

Knowledge, Abilities and Skills: Demonstrated knowledge of Professional, Financial, and/or Specialty lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques. Strong understanding of financial documents, financial analysis, investments, market conditions essential. Legal knowledge related to insurance, contract and business law preferred. Understanding of employment principles and practices. Must possess strong verbal and written communication skills to interact with internal/external business partners at all levels. Must have skills to influence and negotiate with internal/external business partners at all levels. Must have the ability to manage large programs; develop and apply innovative approaches to program initiatives and problem solutions. Proven ability to analyze and interpret mathematical, statistical and logical data, and evaluate its reliability and significance. Must have project and process management skills. Must have ability to evaluate, analyze and devise solutions to complex programs; implement the most appropriate solution and monitor the effectiveness. Ability to support numerous internal/external business partners and make decisions that reflect the goals of the company, both financially and ethically. Ability to lead, train, motivate employees and set work priorities. Ability to apply/learn job related software.

Other criteria, including leadership skills, competencies and experiences may take precedence.

Values: Regularly and consistently demonstrates Nationwide Values.

Job Conditions:

Overtime Eligibility: Not Eligible (Exempt)

Working Conditions: Normal office environment. Ability to travel locally and overnight for client meetings as needed.

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.

We currently anticipate accepting applications until 04/01/2025. However, we encourage early submissions, as the posting may close sooner if a strong candidate slate is identified before the deadline.

Benefits

We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.