Underwriter, Small Business

Encova Insurance

North Carolina

Hybrid

USD 62,000 - 111,000

Full time

14 days+

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Benefits offered by this job

Health, Dental & Vision Insurance

Company-provided life insurance

Bonus incentive program

401(k) with 100% company match up to 7

Paid Time Off, Holidays & Floating

Job summary

Encova Insurance is seeking an Underwriter, Small Business, to review routine risks, determine acceptability, and write profitable business accounts. The role reports to a Regional Vice President, Commercial Lines, and involves using Encova guidelines, NCCI/ISO rules, and predictive models for high-volume processing.

Ideal candidates have a Bachelor’s degree (AINS preferred) and two years of property/casualty underwriting experience, with strong communication and analytical skills.

Qualifications

Bachelor’s degree preferred; relevant insurance experience may substitute.
Two years insurance experience in property/casualty preferred.
Interpersonal, professional, collaborative and problem-solving skills required.
Insurance designations or continuing education like AINS preferred.
Strong written and verbal communication; knowledge of underwriting rules.

Responsibilities

Review routine risks for acceptability, pricing and profitability.
Perform risk analysis using Encova guidelines, ISO and industry rules.
Underwrite routine small business renewals and new business items.
Use predictive models for high-volume processing.
Communicate underwriting decisions with agents and producers.
Prepare proposals and negotiate terms and conditions with producers.

Skills

Bachelor's degree

Insurance experience 2 years

Interpersonal skills

Communication skills

Analytical thinking

Education

Bachelor’s degree

Insurance designation (AINS)

Tools

Excel

Job description

The salary range for this job posting is $61,742.00 - $110,642.00 annually + bonus + benefits. Pay Type: Salary

The above represents the full salary range for this job requisition. Ultimately, in determining your pay and job title, we’ll consider your location, education, experience, and other job-related factors, and will fall within the stated range. Your recruiter can share more information about the specific salary range during the hiring process.

Preferred candidates will either work a hybrid schedule in our Columbus, Ohio office or remote in Michigan. Ideal candidates will have experience working with agents in Michigan. However, we may consider candidates will work remote in any of our listed approved payroll states and have underwriting experience with Package Lines and Workers’ Compensation.

We may hire a senior level depending on candidate qualifications. (compensation shown is inclusive of the non-senior and senior level).

This role will report to a Regional Vice President, Commercial Lines.

Are you a Referral?

If you know a current Encova Insurance associate and would like to apply as a referral, please encourage them to submit your referral information before you submit your application. You will receive an email with a direct URL link to the Job Posting of interest. Applying through this URL link will create your referral relationship for our Talent Acquisition Team.

Unique residence requirements are listed in each job posting, please review closely for details.

Encova is only able to employ associates who reside and work within specific U.S. states. Our current policies are based on the laws in states in which we are registered for payroll. Our current footprint includes:

Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Wisconsin.

JOB OBJECTIVE:

The Underwriter, Small Business’s objective is to review routine risks, determine acceptability, and successfully write profitable business accounts. The underwriter, within designated authority, reviews insurance applications to evaluate, classify and rate each risk to determine acceptability, coverage and pricing.The underwriter is responsible for the financial performance of the assigned book of business and is expected to achieve profitable retention and growth.The underwriter is focused on taking action to achieve results that positively impact sales and profitability.

ESSENTIAL FUNCTIONS:

Determine the acceptability, quality, pricing, profitability and opportunity for new and existing business.
Complete thorough risk analysis on designated accounts using appropriate Encova, NCCI, ISO and industry rules, policies, procedures, and guidelines, etc.
Underwrites and assesses risk for routine, small business renewals and new business items.
Uses the predictive model for straight through processing of a high volume of accounts.
Utilizes Encova systems to transact requests and endorsements.
Communicates with agents electronically through internal Encova systems.
Identify, create and initiate new business opportunities within assigned book of business.
Gather and analyze information necessary to make an accurate evaluation of risk.
Determine appropriate pricing based on risk exposures, risk quality, loss potential and coverage provided.
Utilize available resources including company underwriting guidelines, business unit strategies, and consultations with others to ensure adequate understanding of risk exposures.
Prepare proposals to producers, including negotiation of terms and conditions.
Ensure the proper issuance of policies, certificates, filings and notifications.
Seek the guidance of management on risks exceeding assigned authority levels.
Effectively utilize industry rules and guidance to ensure proper policy construction
Identify underwriting issues; recommend and develop plans for problem resolution and implement where appropriate.
Manage existing and prospective accounts by actively participating in account renewals, new business presentations as needed and discussion with agents.
Participate in monitoring and analyzing performance of assigned agents; initiate actions and understand downstream impact of alternatives.
Serve as a resource for other team members and units.
Apply discretionary pricing appropriately based on the account exposures, predictive model indications and letter of authority.
Communicate all underwriting decisions or changes on coverage, limits, exposures and/or pricing, discussing alternatives with agents as needed.

OTHER FUNCTIONS:

Travel to various locations to support business objectives whenever necessary.
Perform other duties as assigned.

KNOWLEDGE, SKILLS AND ABILITIES:

Bachelor’s degree from an accredited college or university preferred, demonstrated significant professional or insurance experience may substitute for educational requirements.
Two years insurance experience in the property and casualty insurance market preferred.
Interpersonal skills are required including the ability to demonstrate professionalism, adaptability, accountability, collaboration, and problem solving.
Insurance designations or insurance education course work (i.e. AINS-Associate in General Insurance) is strongly preferred.
Critical thinking: Ability to assess an individual situation and select applicable rules from an array of options, resulting in the most appropriate and sustainable decision.
Strong oral and written communication skills.
Knowledge of underwriting laws and rules and their application.
Knowledge of policy and procedures regarding risk administration and risk management, underwriting and loss control.
Knowledge of the insurance industry and the business environment in which it operates in order to develop an effective business strategy and remain technically current.
Thorough understanding of business exposure calculations, classifications, experience rating or other plan modifications.
Ability to develop and implement account, territorial, producer and book strategies to acquire and retain business.
Ability to work effectively in a team environment.
Ability to use logic and reasoning to identify strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Ability to identify problems and review related information to develop and evaluate options and implement solutions.
Ability to make sound decisions after considering all facts, potential risks, customer needs and alternative solutions.
Ability to initiate and build relationships and tailor services to meet customer needs.
Ability to present ideas and information to individuals and groups in a clear, concise, influential, organized and diplomatic manner and address concerns or needs.
Ability to adjust priorities based on changing situations.
Ability to effectively manage multiple assignments while meeting established guidelines.
Proficient in Excel.

This position has been evaluated in accordance with the Americans with Disabilities Act. Encova Insurance makes every effort to reasonably accommodate disabilities to permit performance of the essential functions and candidates who need such accommodation are encouraged to seek it. This description reflects the nature and level of work performed by associates in this position. It is not an all-inclusive inventory of duties, responsibilities and qualifications required. It provides an accurate overview of the work and skills needed to perform this position. Because job content may change from time to time, Encova Insurance reserves the right to add and/or delete functions from this job as it deems necessary for business reasons.

Ready to join our team?

At Encova Insurance, we firmly believe that our associates drive our company’s success by delivering unrivaled service to our customers. With success in mind, we make an ongoing effort to provide an environment that offers challenging, stimulating, and financially rewarding opportunities. Join us to discover a work experience where you can learn and grow to your fullest potential.

What you can expect from us

In addition to a competitive compensation package, we offer a comprehensive benefits package designed to support the well-being and growth of our associates. Available benefits (subject to any policy or plan changes) include, but are not limited to: