Senior Underwriting Specialist

FM; Johnston (RI); On-site; USD 120,400 - 203,175; Full time

Benefits offered by this job

Employee Referral Program

Job summary

Factory Mutual Insurance Company is seeking an experienced underwriting professional focused on natural hazards and flood risk. You will analyze portfolios, set pricing strategies, and develop underwriting requirements to support profit and growth objectives.

Collaboration with underwriting managers and operations teams is essential to ensure accurate risk selection and effective training. The role includes developing new coverages, improving underwriting processes, and presenting at industry

Qualifications

• Requires a Bachelor's degree in Engineering and 5 years in field engineering or underwriting for large natural hazard exposures.
• Experience as flood engineering specialist or flood underwriting resource is required.
• Knowledge of natural hazards and regional market variations is essential.

Responsibilities

• Apply operations and underwriting expertise to portfolio analysis, pricing and linesetting.
• Develop underwriting requirements for natural hazards and collaborate across departments.
• Ensure capacity is optimized and premiums reflect risk.
• Provide training within staff underwriting and operations.
• Represent FM at industry seminars and internal forums.

Skills

Underwriting principles

Flood engineering

Risk assessment

Training delivery

Education

Bachelor's degree in Engineering (Any Field)

Job description

Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.

Duties

Apply operations experience and technical underwriting expertise to key underwriting responsibilities including portfolio analysis, capacity and linesetting, pricing strategies, and development of underwriting requirements to support the company’s profit and growth objectives. Collaborate with staff underwriting managers and members of other corporate staff departments and individuals from operations to research and develop underwriting requirements and related procedures for natural hazard exposures as assigned, ensuring necessary support is available and impacts are understood prior to implementation. Operate within delegated authority, the incumbent will respond to natural hazard underwriting exceptions as assigned, ensuring a consistent application of risk selection and underwriting judgment. Assure natural hazard capacity is optimized and premiums are appropriate for the risk accepted. Participate in operations underwriting audits. Provide underwriting training within staff underwriting, as part of the client service curriculum, and in operations. Assist in the development of new coverages and products in response to changing customer needs. Assist in the continuous improvement of the underwriting process and systems development. Analyze vendor flood models for integration into FM’s underwriting practices. Represent FM as a subject matter expert at industry seminars and internal forums.

Qualifications

Requirements Requires Bachelor’s degree in Engineering (Any Field) or related field of study, and 5 years of experience in any job title/occupation/position involving field engineering, account engineering or underwriting for accounts with large natural hazard exposures or aggregation. Experience specified must include 5 years of experience with each of the following: working as a flood engineering specialist or acting as the Operations resource for flood underwriting; analyzing market landscape for natural hazards and the regional variations that can develop based on local views; flood in emerging international markets such as Asia; and developing and conducting formal and informal training, developing underwriting requirements and communicating the results of analyses undertaken. Experience specified must also include 2 years of experience with natural hazard identification, quantification and aggregation and how it impacts underwriting and the financial impact of the risk. Requires up to 10% domestic travel.

Internal Referrals for this position are eligible for the Employee Referral Program.

Employer: Factory Mutual Insurance Company

Work Location: 270 Central Avenue, Johnston, RI 02919

Hours: M-F, 40 hours/week

Salary: $120,400 to $203,175/year