Senior Underwriter, Excess Casualty

IFG Companies; Clay Arsenal (CT); Hybrid; USD 125,000 - 165,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

401(k) plan

Flexible spending

Disability insurance

Life insurance

Paid parental leave

Vacation and PTO

Job summary

IFG Companies is seeking a Senior Underwriter, Excess Casualty (SUEC) to develop and manage a profitable excess casualty book. The role involves partnering with wholesale producers, evaluating submissions, prioritizing opportunities, and quoting within approved guidelines.

The SUEC will leverage rating tools and data to support risk selection, quoting, and binding, while maintaining strong relationships with producers.

Qualifications

• Minimum 5+ years of commercial excess casualty underwriting experience.
• Bachelor's degree from an accredited U.S. college/university, with major or coursework in insurance, risk management, economics, actuarial science or related fields.
• CPCU or other relevant insurance-related designations is a plus.

Responsibilities

• Meeting and working with producers in assigned territories to ensure high-quality submissions for quoting.
• Identifying suitable submissions for quoting using prioritization tools and data.
• Determining pricing, structure and coverage terms within guidelines.
• Maintaining communication with producers about product offerings and appetite.
• Promoting the IFG Companies brand and supporting marketing efforts.

Skills

Excess casualty knowledge

Data analysis

Analytical thinking

Communication skills

Attention to detail

Multitasking

Team player

Underwriting systems

Education

Bachelor's degree in related field

CPCU or other insurance designation

Tools

Underwriting tools

Job description

The Senior Underwriter, Excess Casualty (\"SUEC\") is responsible for developing, managing and maintaining a profitable book of excess casualty business on behalf of IFG Companies. This experienced underwriter is expected to develop strong relationships with wholesale producers (i.e., agents and brokers) that will result in favorable submission flows and profitable long-term underwriting results. The SUEC will evaluate submissions for new and renewal business, prioritize them and prepare quotes for those acceptable submissions while strictly adhering to IFG Companies' underwriting guidelines and operating within the bounds of the SUEC's Letter of Authority or otherwise referring business for higher levels of approval.

The SUEC should employ IFG Companies' advanced underwriting tools to support the underwriting and quoting process, including its rating matrices, predictive analytics, crime and credit scores and other third-party data to facilitate the risk selection, evaluation, quoting and binding processes using approved forms.

POSITION RESPONSIBILITIES INCLUDING

New Business

• Meeting and working with producers in assigned territories to ensure high-quality submission opportunities are presented to the SUEC for quoting.
• Identifying and selecting suitable submissions for quoting, with assistance from IFG Companies' submission prioritization tools that employ predictive analytics, loss history and third-party data to score each submission.
• Determining appropriate pricing, structure and coverage terms, with assistance from IFG Companies' rating tools and underwriting guidelines as well as appetite guidance with respect to the class of business being considered.
• Maintaining excellent communication with producers to keep them informed about the IFG Companies' product line offerings.
• Promoting the IFG Companies' brand.
• Assisting IFG Companies' marketing efforts generally by providing feedback pertinent to the product line with respect to competitors, products and the overall marketplace.
• Providing or seeking referral counsel with other underwriters, the Unit Head and/or Corporate Underwriting, to discuss individual risk acceptance or declination, pricing and terms, when appropriate under the circumstances.
• Monitoring the performance of new business underwritten.
• Performing other duties, including new underwriter training and mentoring, as required.

Renewal Business

• Monitoring the performance of the SUEC's business in force to determine what underwriting actions are most appropriate with respect to renewal, pricing, non-renewal or changes in coverage terms.
• Preparing renewal quotes sufficiently in advance of renewal dates to satisfy producer and retailer needs.
• Maintaining excellent communication with producers so they know what to expect at renewal, are then less likely to take actions to move the business and are given due notification whenever possible, if non-renewal or changed terms are expected.
• Being generally familiar with regulatory and contractual considerations as regards contingent renewals or non-renewals to ensure compliance with the respective state regulations and consulting with IFG Companies' Compliance area, as needed.
• Providing or seeking referral counsel with other underwriters, the Unit Head and/or Corporate Underwriting, to discuss individual renewals or non-renewals, pricing and terms, when required or appropriate.

General Underwriting Responsibilities

• Exhibiting sound judgment and strong technical knowledge of underwriting principles, while applying IFG Companies' underwriting guidelines that apply to the risks being underwritten.
• Monitoring and meeting production, marketing and profitability goals for the SUEC's book.
• Keeping informed of industry, competitor and claim trends that may impact the relative and absolute attractiveness of risks being underwritten.
• Being or becoming a subject matter expert for certain classes of business that are within IFG Companies' underwriting appetite.
• Regularly traveling to meet with assigned producers to build and maintain strong relationships and ensure their awareness of IFG Companies' product offerings and appetite.
• Collaborating and assisting other team members on underwriting and marketing matters.
• Training, coaching and mentoring less experienced underwriters and support staff.

KNOWLEDGE, SKILLS AND ABILITIES

• Knowledge of commercial excess casualty lines business, classifications, pricing and coverage options with adherence to applicable statutory compliance requirements and corporate guidelines.
• Ability to manage the SUEC's excess portfolio with appropriate overall limits, attachment points and diversification.
• General knowledge of the wholesale producer distribution system.
• Demonstrated ability to analyze data and make well informed, calculated risk decisions.
• Strong problem-solving, reasoning and decision-making skills that aid in providing solutions for producers and insureds, while protecting IFG Companies' economic interests.
• Excellent written and oral communication skills.
• Excellent analytical and organizational skills, with excellent attention to detail.
• Ability to plan, organize, prioritize and manage multiple tasks while meeting deadlines.
• Proven team player, with an energetic personality and strong interpersonal skills.
• Strong computer skills and an ability to learn to work with proprietary systems.

EDUCATION, EXPERIENCE AND CERTIFICATIONS

• Required: minimum of 5+ years of commercial excess casualty underwriting experience, combined with sound knowledge of commercial excess casualty underwriting coverages.
• Required: a bachelor's degree from an accredited U.S. college/university, with a major or coursework in insurance, risk management, economics, actuarial science or related fields.
• A Plus: CPCU or other relevant insurance-related designations.

PHYSICAL DEMANDS

• Physical demands are considered to be that of a climate-controlled office environment, with minimal physical exertion.
• Position is hybrid and requires the ability and willingness to work in an IFG Companies' office at least three (3) days per week.
• Position requires prolonged sitting, extensive utilization of computers and interactions with others in person and via phone.
• Position requires the ability and the willingness to travel as required to meet business needs.

SALARY AND BENEFITS

The salary range for this position is $125,000 to $165,000. Additionally, the position may be eligible to earn incentive compensation.

IFG Companies offers competitive compensation and benefits, currently including medical, dental, vision, 401(k), flexible spending, short-term and long-term disability insurance, life insurance, paid parental leave, vacation and other paid time off.

WHY IFG COMPANIES

Founded in 1985, IFG Companies is one of the oldest privately held insurance groups in the United States. It combines a specialty carrier focus with long-term stability and thinking, while promoting a culture of underwriting rigor, collaboration, strategic thinking, superior technology and strong producer partnerships.

EQUAL OPPORTUNITY

IFG Companies is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status or any other protected characteristic under applicable law.