Vice President E & S Underwriting
Vice President E & S Underwriting
(Boston, MA., Scottsdale, AZ., or Hartford, CT. are alternative locations)
As Underwriting Vice President for our clients E&S (excess and surplus) you will plan, control, organize and manage the strategic expansion and build-out of the company’s contract binding underwriting operations.
You will be responsible for developing and executing the segment’s strategy to achieve profit, quality, growth, diversification, and operational objectives by developing and maintaining effective external relationships with brokers which fully promote and represent the E&S brand.
The position is responsible for the overall underwriting integrity, product and program development, management of staff, advancement of business processes and systems, wholesale broker relations, and regulatory compliance.
The ideal candidate for this role possesses strong commercial underwriting expertise across diverse lines of business, forward thinking leadership, and deft staff management and development skills.
Experience, Skills & Qualifications:
- Requires extensive Commercial Casualty / Property underwriting expertise, underwriting group leadership experience, and track record working through wholesale brokers. Minimum of ten years in the commercial lines insurance business including underwriting excess and surplus lines several of which should be in a management capacity.
- In-depth knowledge of commercial lines policies, practices and insurance operations including: exposure analysis, coverages, rates, and underwriting strategies; finance and actuarial concepts; regulatory environment; account management; underwriting; loss control; producer management; competitive conditions and industry trends.
- Very strong interpersonal skills with the ability to build rapport and teamwork, resolve conflicts, and motivate staff members to achieve company, departmental and individual objectives. Must be able to interact with other departments, personnel, and external parties at all levels within and outside of the company.
- Proficiency in data management and quantitative analysis, including the utilization of market and underwriting data to make sound risk management decisions.
- Bachelor’s degree with demonstrated involvement in the insurance industry. (CPCU, CIC or other advanced insurance education desired).
Primary Functions & Responsibilities
- Spearhead growth and expansion of the company’s Select Business product lines. Identify target markets and opportunities. Develop new products and programs, including conducting market and competitor research, crafting underwriting guidelines, forms and rates, and assisting with marketing and implementation.
- Responsible for the development, implementation and execution of business plan/distribution strategy utilizing market analysis, retention analysis, profitability analytics, and diversification strategies to achieve financial results in the areas of profit, growth and expense.
Manage producer performance in each of the following areas:
- Compare actual premium development to plan to take actions necessary to achieve plan.
- Manage portfolio trends by analyzing renewal retention and average account premium, and by comparing state, line, and class of business distribution to targets.
- Monitor risk acceptability, pricing adequacy and classification accuracy of accounts to ensure profitability and controlled growth of business.
- Manage personnel including responsibility for recruitment, retention, and development of talent needed to diversify the book and grow profitably; ensure that expertise is fostered through development, coaching and mentoring mechanisms.
- Directs underwriters to develop strong market facing relationships and strengthen the E&S brand with key brokers/customers through effective communication of appetite, consistent risk selection, responsiveness, creativity, and negotiations.
- Work collaboratively with other functions and support initiatives in the areas of product development, operations, accounting, IT, marketing and claims management to achieve organizational goals.
- Seek advancements in business processes and technologies to gain operating efficiencies, cost savings and competitive advantages. Perform other related duties and responsibilities as assigned.
This position can be located in either Chicago IL, Boston MA, Scottsdale AZ, Hartford CT. This client offers an excellent compensation and benefit package that includes an annual bonus up to 30%.