Underwriter Portfolio Middle Market

Hanover Insurance Group, Inc.; Worcester (MA); On-site; USD 120,000 - 190,000; Full time

Benefits offered by this job

Medical Insurance

401K with Match

Paid Time Off

On-site Wellness Center

Job summary

The Hanover Insurance Group in Worcester, MA, is seeking a Sr. Portfolio Underwriting Specialist to support field renewal underwriting operations for a nationwide portfolio.

You will underwrite and renew Middle Market accounts, manage 120–160 annual accounts with $16M–$20M average book premium, and mentor other team members. You will operate under a Letter of Authority, collaborate with underwriting leadership, and drive profitability through pricing discipline, risk analysis, and cross-sell

Qualifications

• 10+ years of standard commercial lines underwriting experience with a minimum of 5 years underwriting Middle Market accounts.
• Experience with accounts of $100K premium and above preferred.
• Able to work within a territory assignment that may shift with business needs.
• Excellent written and verbal communication; strong judgment and decision making.
• Agile/adaptive in a fast-paced environment; strong teamwork and collaboration.

Responsibilities

• Underwrite and renew Middle Market renewal accounts to drive profit and align with business objectives; target 120–160 annual accounts with $16M–$20M average book premium.
• Mentor and train less experienced staff; collaborate with leadership to identify training topics.
• Operate within the Letter of Authority; coordinate with Underwriting Assistant to manage renewals.
• Identify cross-sell opportunities and coordinate with Sales Underwriter for new business opportunities.
• Analyze adverse decisions, rate appeals, and maintain pricing discipline; stay current on market trends.

Skills

Underwriting

Middle Market

Negotiation

Leadership

Mentoring

Education

Bachelor’s degree or equivalent experience

Job description

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture.

POSITION OVERVIEW

The Sr. Portfolio Underwriting Specialist role is a key member of the home office underwriting team and will support field renewal underwriting operations. You will underwrite a nationwide portfolio with dedicated branch and agency assignments, rotating every 3 to 6 months. Rotating portfolio assignments will afford you the opportunity to gain hands‑on Hanover underwriting experience and develop broad geographical expertise.

IN THIS ROLE, YOU WILL

Responsible for the underwriting and retention of Middle Market renewal accounts that drive profit and align with the business unit objectives and strategies. The renewal book will be comprised of 120 – 160 annual accounts with an average book premium of $16M - $20M.

The Sr. Portfolio Underwriting Specialist holds the highest level of field underwriter authority grant, is highly effective at negotiating all aspects of the portfolio internally and externally and is highly effective in partnering with internal constituents to drive the business results. Responsible for demonstrating leadership and applying knowledge in ways that improve the performance of the underwriting team (mentoring, training, sharing expertise, participating in projects). Responsible for operating within a Letter of Authority and/or collaborating with business unit leadership on underwriting decisions. Accountable for meeting acceptable quality and service standards set forth by the company. Work closely with an Underwriting Assistant to ensure all policies are efficiently and effectively managed throughout the renewal underwriting process.

Technical Underwriting

• Applies advanced knowledge of underwriting concepts and risk acceptability to assigned renewal portfolio to make sound underwriting decisions. Knows key questions to ask to ascertain the full scope of operations and conducts a thorough exposure/control analysis on accounts including coverage analysis. Engages with others on complex decision-making to provide additional expertise and support.
• Utilizes all underwriting tools and systems needed to inform the decision-making process ensuring underwriting guidelines are followed. Provides training to new hire employees on systems, tools, processes, and workflows.
• Provides mentoring and training to less experienced team members to increase their skill level and knowledge on a variety of topics including underwriting analysis, pricing considerations and policy structure. Partners with Underwriting leadership to identify training topics and approaches for delivering the training.
• Adheres to Catastrophe guidelines and maintains underwriting discipline to minimize exposure ensuring appropriate pricing, terms and conditions apply to individual risks.
• Collaborates with Risk Solutions on risk mitigation tactics including service offerings that will help improve the overall safety of our insureds operations. Coordinates stewardship meetings with the Risk Solutions team to display technical expertise to our customers building confidence in our company.
• Operates within the scope of assigned Letter of Authority and/or receives appropriate approval for elements outside of authority. Completes file documentation in accordance with company standards and state regulations. Able to clearly articulate thought process around individual account decisions.
• Manages portfolio to execute upon business unit objectives for rate, new money, retention, mix and profitability. Identify cross-sell opportunities within existing book and coordinate with the Sales Underwriter to solicit new business opportunities.
• Applies advanced knowledge of pricing components and rating methodology and correlates pricing to exposure to develop adequate premium for the risk. Recommends pricing decisions that align with business unit rate, new money, and retention targets.
• Shares insights on marketplace, line of business, industry, and competitor trends and partners with Underwriter leadership to develop portfolio management strategies to improve overall book mix driving enhanced profitability. Leads the implementation of profit improvement initiatives with agency partners. Keeps Sales Underwriting team informed of any adverse underwriting actions that will be taken.
• Prepares or analyzes information on adverse underwriting decisions, rate appeals, underwriting requirements, and non-renewals to drive results within the territory. Knows marketplace factors and trends (e.g. distribution channels, competition, regulations, reinsurance costs, social inflation) that can affect pricing and is able to effectively articulate pricing decisions on accounts.
• Partners with local team to build and maintain agency relationships within assigned agency plant.
• Operates with a franchise perspective to identify and drive enhanced cross-sell opportunities and create growth within other lines of business and/or customer segments demonstrating an in‑depth knowledge of Hanover’s product and appetite. In partnership with Underwriting and Field leadership, utilize our value proposition to enhance agency economics, partner conversion and production specialization.
• Stays current on state/territory issues, regulations, and trends. Utilizes market and competitor information to keep agents informed enhancing the agency relationships by becoming a trusted advisor.
• Thinks broadly and creatively to solve problems, incorporating underwriting, product and pricing knowledge in solutions provided to agency partners. Utilizes sales skills including negotiation, objection handling and professional influencing capabilities as effective sales tactics to improve retention ratios. Proactively anticipate objections (internal and external) and develop effective responses. Demonstrates an understanding of the issues and concerns which affect both internal and external customers and stakeholders and applies that knowledge to enhance relationships.

WHAT YOU NEED TO APPLY

• Bachelor’s degree or equivalent experience
• 10+ years of standard commercial lines underwriting experience with a minimum of 5 years of experience underwriting Middle Market accounts. Experience with account size $100K premium and above is preferred.
• Acts as a change advocate and is open to new and different ways of thinking. Able to work within an assigned territory assignment that may shift as business needs arise.
• Communication (written and verbal) – anticipates audience needs when communicating, actively seeks to understand when there is lack of clarity, able to clearly articulate and express points of view and perspectives both verbally and in writing.
• Judgement and Decision Making – able to apply logic to decisions identifying and evaluating risks and implications. Uses current data and information to inform recommended decisions and actions.
• Agile and Adaptive – ability to work in a fast paced, highly dynamic environment. Able to shift focus and manage new and changing situations.
• Teamwork and Collaboration – seeks opportunities to share information and offer ideas that will allow others to benefit or succeed. Shows respect for differences and diversity in ideas and views.
• Prioritization and Desk Management – takes personal ownership for the management workload and output. Applies understanding of business workflows and processes to determine focus and urgency needed.

CAREER DEVELOPMENT

It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on‑the‑job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.

BENEFITS

We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• PTO
• Cultural Awareness Day in support of IDE
• On‑site medical/wellness center (Worcester only)

The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.

Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.

As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: [e-mail] and include the link of the job posting in which you are interested.

Compensation

The target hiring range for this role may vary based on geographic location and other factors, including merit or performance, demonstrated proficiency, skills for the role, education, travel requirements, and experience. Additional compensation may include an annual bonus (which could take the form of a general bonus, sales incentive, or short‑term incentive), long‑term incentive or spot recognition awards. The posted range reflects our ability to hire at different position titles and levels depending on background and experience.