Surety Underwriter

UFG Insurance; Chicago (IL); On-site; USD 75,000 - 110,000; Full time

Job summary

UFG Insurance seeks a Surety Underwriter to build a profitable mix of new and existing business by developing strong relationships with the agency force. You will evaluate risks, visit agencies, and appoint quality agents in the territory, while ensuring profitability within underwriting parameters.

The ideal candidate will reside in Chicago or Milwaukee territory areas and bring 3+ years of contract surety underwriting experience, plus a valid driver’s license and commitment to ongoing

Qualifications

• Bachelor’s degree or combination of education and surety experience.
• 3+ years of contract surety underwriting experience.
• Must have a valid driver’s license and acceptable driving record.
• Commitment to continuing education throughout career.

Responsibilities

• Underwrite new submissions and existing accounts within authority and policies.
• Develop and maintain strong relationships with agents/brokers.
• Oversee a book of contract surety business in the territory and meet goals.
• Visit agencies and contractor sites to assess acceptability and quality.
• Provide training and direction to underwriters and trainees.

Skills

Underwriting

Analytical thinking

Relationship building

Agency management

Communication

Education

Bachelor's degree in business administration/finance/economics

Tools

Territory management tool

Job description

UFG is hiring for a Surety Underwriter who will actively working towards building and maintaining a profitable mix of new and existing surety business by developing and maintaining strong working relationships with the agency force. Demonstrate strong analytical skills to evaluate risks for acceptability within their authority and company underwriting parameters. Make regular agency visits and calls to assess growth and profitability of agents in their territory. Prospect and appoint new quality agents in the territory. Visit current and potential contractor’s place of business to better assess acceptability and quality of the accounts.

**The ideal candidate will reside in Chicago, Illinois/Greater Chicago area or the Milwaukee, Wisconsin territory**

Essential Duties and Responsibilities:

• Underwrite new submissions and existing accounts utilizing authority granted by head of Surety and with assistance from mentors. Evaluate and assess financial status, credit standing, and organization profile to analyze and determine acceptability of the risk within framework of UFG underwriting policies and procedures.
• Develop and maintain strong relationships with agents/brokers.
• Oversee a book of contract surety business within defined territory. Meet production, marketing, and profitability goals and develop marketing plan using the territory management tool.
• Upload and update file information electronically and purge obsolete data per department guidelines.
• Handles all confidential information with discretion.
• Provide high quality customer service in all interactions with internal and external customers.
• Request underwriting information from agencies. Review and process information received.
• Perform annual review of accounts including financial analysis, obtaining current bank line of credit letters, preparing profiles, and recommendation of line of authority.
• Instruct, assign and review work completed by support staff.
• Create record of communications concerning activities per department standards.
• Provide training, direction, and assistance to associate underwriters and underwriter trainees.

Job Specifications:

Education:

• Bachelor’s degree, or combination of education and surety experience
• Bachelor’s degree in business administration, economics, finance or accounting preferred

Certifications/Designations:

• Certified, or working towards, AFSB designation.
• Must have a valid and current drivers’ license and must have acceptable driving record in accordance with Company practice.
• Employees are expected to participate in continuing education throughout their careers.

Experience:

• 3+ years of contract surety underwriting experience.

Working Conditions:

• General office environment.
• Up to 25% of travel is required, to visit agency force and contract accounts either independently or by accompanying surety representatives. Overnight trips included.
• May be exposed to weather conditions, and/or results and debris of adverse weather conditions, during agency/contract visits.

Equal Opportunity Employer This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.