Underwriting Director

PMA Companies; Center Square (PA); Hybrid; USD 110,000 - 150,000; Full time

Job summary

PMA Companies is seeking a Referral Underwriter to lead development and oversight of our lines of coverage, including WC, GL, Commercial Auto, Property and Umbrella. You will influence risk selection, pricing, and underwriting authority guidelines while handling referrals beyond Regional Manager authority.

The role involves liaison with Product Development, QA processes, and strategic risk management. Travel to branches and client meetings is expected as part of building a strong loss sensitive

Qualifications

• Bachelor's degree or equivalent experience required.
• 7 to 10 years of multi line underwriting with an insurance carrier.
• Knowledge of casualty coverage and loss sensitive deal structures.
• Willingness to travel for business purposes.
• CPCU, Associate in Risk Management or other professional designations are desired.

Responsibilities

• Develop, promote, and coach on loss forecasting and pricing systems.
• Make underwriting decisions for accounts outside Regional Manager authority.
• Oversee facultative reinsurance transaction process and ensure proper documentation.
• Coordinate renewal activity and monitor renewal processes.
• Provide technical sales support for loss sensitive products.
• Travel to develop agency or client relationships.

Skills

Underwriting

Multi-line

Negotiation

Communication

Travel

Education

Bachelor's degree or equivalent experience

CPCU or ARM designation desired

Job description

The Referral Underwriter is responsible for the development and successful oversight of PMA's lines of coverage (WC, General Liability, Commercial Automobile, Property, and Umbrella ). The position will collaborate on corporate strategy for risk selection, pricing, risk appetite, and underwriting authority guidelines, and handle referrals from the field that exceed Regional Manager's Authority.

Responsibilities

• Loss Forecasting and Pricing System: responsible for developing, promoting use, training and coaching underwriters on inputting data, calculating and interpreting results, assumptions behind pricing methodologies, etc.
• Responsible for the underwriting decision making process for all accounts outside Regional Underwriting Manager authority level and direct underwriting decision making process.
• Responsible for the Facultative Reinsurance transaction process (review placements for adherence to corporate appetite concerning use, terms, conditions, limits, exposure, treaty impairment or conflict, carrier acceptability, etc.). Ensure proper documentation/administration procedures are followed, assist in marketing and quote solicitation process, and communicate directly with Reinsurance Officer concerning any activity that concerns our Treaty arrangement or list of Approved Reinsurance markets.
• Target Account List: review content of list by branch -- inclusion of problematic or inappropriately handled accounts uncovered during Quality Assurance or Branch Profitability reviews, oversee corrective process, and ensure all action plans are completed in a timely manner.
• Provide support and problem resolution for any issues developed during the QA process.
• Act as liaison between branch underwriting and Product Development department concerning underwriting protocols, filing restrictions and requirements, coverage modifications, classification or limit exceptions, and recommending any additional product or filing needs.
• Responsible for the timeliness of referral process to ensure risk selection, pricing, coverage mediation, and program negotiations are completed in an effective and efficient manner.
• Create diary to monitor, track, and coordinate renewal activity. If necessary, review planning meeting minutes or pre-renewal meeting documentation to ensure orderly renewal negotiation process. Additionally, ensure renewal process is operating at maximum capacity to adequately respond to new business opportunities.
• Analyze Interim Review documentation to ensure selected accounts are performing within appropriate loss ranges and in accordance to set of assumptions used at time of initial underwriting. Coordinate with branch underwriting to ensure any mid-term corrective measures are determined and implemented.
• Review analysis and feedback provided by Quality Assurance Administrator to identify "sub-standard" account situations in respective territory. Coordinate and assist in the development of a corrective action plan with branch underwriting to ensure proper (and agreed upon) remedies are implemented.
• Review feedback provided by Quality Assurance Administrator to identify segment performance issues and educational opportunities. Assist in the development and delivery of specific training modules addressing informational or educational needs. Monitor performance in noted areas through daily referral interaction to determine effectiveness of training approaches and activities.
• Provide technical sales support in selling features, benefits, and administration of loss sensitive product offerings (large deductible, retrospectively rated).
• Oversee the profitability and construction of a well rounded and profitable Loss Sensitive Portfolio within the guidelines and boundaries of CMU.
• Conduct branch travel to assist in the development (agency or client interaction), evaluation (risk control survey or claims review), or negotiation (agent or client interaction) of an existing (renewal) or prospective (new) business relationship.
• Provide assistance in the evaluation, development, and solicitation of new business opportunities or agency/broker expansion. This may require assistance in the development of a new business prospect list, a formal agency business plan, setting flow or new business objectives, or coordinating a business meeting (due to prior or existing business relationships) for the purpose of appointment (contract) or individual transaction.
• Develop and present specific training topics during annual underwriter training session or during other unscheduled training opportunities at the direction of segment management (AVP or VP).
• Provide continuous direction relative to basic underwriting fundamentals, coverage and policy language interpretation, segment directives for program design, product usage, risk selection, margin requirements, and loss containment, underwriting authority, program administration (including Actuarial and Financial review).
• Identifying best in class underwriting characteristics and analytics associated with our Industry Practice Group segment.
• Demonstrate commitment to Company's Code of Business Conduct and Ethics, and apply knowledge of compliance policies and procedures, standards and laws applicable to job responsibilities in the performance of work.

Requirements:

• Bachelor's degree or equivalent experience required.
• 7 to 10 years of multi line underwriting with an insurance carrier, with large account, loss sensitive portfolio (Deductibles & Retros) required.
• Understanding and technical knowledge of underwriting mechanics and fundamentals.
• Knowledge of casualty coverage and loss sensitive deal structures (retrospective rating, large deductible). Additional knowledge in financial analysis, account management and collateral management is preferred.
• Knowledge of local and regional market conditions as well as industry trends.
• Countrywide knowledge of local / state level issues and trends.
• Strong ability to effectively communicate verbally and in writing to uncover business needs.
• Ability to interact with various levels of management and support personnel.
• Advanced skills in analysis, decision making/problem solving, planning and organizing; negotiation and mathematical proficiency.
• Strong desire to work collaboratively and foster a team oriented environment with other internal business partners.
• Willingness to travel for business purposes.
• Chartered Property Casualty Underwriter (CPCU); Associate in Risk Management designation or other professional designations are desired.

Alternate Location(s)

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This Company is an Equal Opportunity Employer, and does not discriminate on the basis of race, gender, ethnicity, religion, national origin, age, disability, veteran status, or on any other basis prohibited by law. Information on race, gender and national origin will only be used for statistical and recordkeeping purposes, and will not be used in making any employment decisions. All information provided will be kept separate from your expression of interest. Providing this information is strictly voluntary, and you will not be subjected to any adverse action or treatment if you choose not to provide this information. If you do not choose to answer these questions, we ask that you select "Decline to Identify" for each question. Thank you for your voluntary cooperation.

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