Underwriter
Description
Advance your Underwriting career at Liberty Mutual - A Fortune 100 Company!
Our underwriters focus on answering two fundamental questions. Should we write a policy for a particular customer? What is a fair price for the risk that we would incur by writing the policy? On the surface, these questions may seem straightforward, but as an underwriter, you will possess a curiosity that propels you to dig a little deeper for the answers. You will rely on your strong analytic, communication, and negotiation skills and thrive in a fast-paced, collaborative environment. Underwriters are natural problem solvers who want to know our customers and how we can profitably accept the risks that our policies cover.
With limited supervision, the Underwriter analyzes a company’s exposures, hazards, financial ratios, commercial casualty insurance coverage (workers’ compensation, commercial auto, general liability, etc.), loss history, pricing targets, and desired program structure to recommend whether to proceed with an account, and if so, under what terms and conditions. You will also act as a leader assigned to a set of producers to ensure book meets growth, profit, retention, rate, mix of business, and other objectives while maintaining a designated underwriting authority level.
Responsibilities:
Evaluates a prospect’s/renewal’s financial standing, operational strategy, and industry trends to determine whether to proceed with the account, and if so, under what terms and conditions
Performs a hazard analysis by combining knowledge and experience with available information on the prospect’s/renewal’s and its industry, and, where appropriate, collaborates with experienced underwriters and other departments to evaluate a prospect’s/renewal’s potential exposure to loss
Applies understanding of insurance with the hazards identified for the customer to assess the customer/broker request and determine acceptable coverage grants by line of business that address the customer’s critical insurance and service needs
Using assessments of the prospect’s/renewal’s operations and anticipated hazards, losses (primary & excess), and expenses (service requirements), applies knowledge of pricing tools, manual rates, rating plans, and reinsurance, develops a price for each coverage and rating plan option under consideration that meets or exceeds target returns, and has accountability and ownership of account pricing recommendations
Given the customer/broker request, the hazard, coverage, and loss analyses, and the competitive situation, recommends program structures (coverage, limits/retention, rating plan/pricing, and billing combinations) achieving desired Business Unit goals, including long term profitability
Creates a proposal that presents a business case reflecting the prospect’s/renewal’s critical risk and financial requirements and our unique value proposition; understands the customer and/or producer buying decisions; leads the proposal presentation (production underwriting model) or supports the territory manager who leads the proposal presentation
Cultivates effective business relationship with accounts, providing risk stewardship including initial setup of service commitments and ongoing consultation; completes all required steps on account setup, documentation, and account management; partners with service providers to build long-term relationships between customers/brokers and Liberty and manages expectations of all parties
Qualifications:
Intermediate level understanding of commercial casualty insurance coverages, forms/filings, underwriting standards and competitive practices
Ability to independently analyze complex financial statements, hazards, coverage, losses, pricing terms, and competitive positions
Demonstrated ability to make disciplined underwriting decisions while reaching new business, retention and other goals
Effective mathematical, interpersonal (relationship building, persuasion, etc.), and organizational skills as normally obtained through a Bachelor’s degree (or equivalent) and a minimum of 8 years’ casualty underwriting experience
Commitment to making progress towards attaining the CPCU
Benefits:
We recognize that talented people are attracted to companies that provide competitive pay, comprehensive benefits packages and outstanding advancement opportunities. For this reason we offer a Comprehensive Benefits Plan that includes the following:
401K and Company paid pension plan
Medical coverage
Dental coverage
Paid time-off
Pay-for-Performance
Discounts on automobile and homeowner’s insurance
Discount fitness memberships
Flexible spending accounts
Tuition reimbursement
Vision care coverage
Work/Life resources
Credit Union membership
Employee and Dependent life insurance
Disability insurance
Long-term care insurance
Overview:
We believe strongly that commercial success can be achieved in a manner consistent with principles and ideals that bind us together as one company, that set us apart from our competitors, and that in the end will allow us to say we have succeeded commercially by doing the right thing the right way.
We believe that the Company’s success is inextricably linked to our employees’ satisfaction and success: satisfaction that they work for an industry leader committed to improving safety, satisfaction that they work for a company that does the right thing, and satisfaction that the company will reward them for their contributions and provide opportunities for personal growth and success.
We believe our employees take pride in knowing that they help people live safer more secure lives every day.
Responsibility. What’s your policy?
Job Underwriting
Primary LocationUS-CA-San Ramon
Other LocationsUS-CA-Orange
Schedule Full-time
Salary (Pay Basis)
66,000-83,000
Education Level Bachelor’s Degree (±16 years)
Shift Day Job
Travel Yes, 10% of the time
