Senior Workers' Compensation Underwriting Specialist Minneapolis

SUMMARY:

Develops and manages independent agency relationship including the development of new business and retention of existing business in a region or territory. Reviews, analyzes, approves or rejects complex business within letter of authority.  Serve as liaison with company personnel regarding company business opportunities and problem resolution. Responsible for assisting in establishing the territory’s or region’s overall agency plan. 

ESSENTIAL DUTIES AND RESPONSIBILITIES: 

• Calculates, prepares and develops premium quotations using corporate underwriting guidelines within letter of authority.


• Determines underwriting eligibility for prospective policyholders and develops appropriate pricing for new business, renewals, and endorsements.


• Analyzes and reviews prospective accounts for insurability and accepts or rejects within letter of authority.


• Develops and manages agency relationships.


• Develops agency plans in cooperation with other staff.


• Addresses agents’ and policyholders’ concerns/needs.


• Responsible for development of new business, profitability and retention of existing business in a given territory or region.


• Explains and emphasizes benefit of workers’ compensation insurance products and services to customers.


• Works with all internal departments to resolve problems and maintain company relations.


• Participates as necessary on special committees and task forces.


• Interprets and develops territory reports which reflect the status of the territory.


• Participates in promotional plans for both company and agent activities.


• Analyzes and reviews production and loss information for agents, determines exposure and proper pricing to develop corrective action plans as needed to correct poor performance.


• Prepares periodic reports as requested.


• Manages small territory or region under close supervision.


• Research and coordinates responses to agents, policyholders and regulatory entities.


• Appoints and trains new agents and new agency employees on the use of company specific automation systems.


• Reviews loss trends and develops action plans to correct problem areas.


• Gathers competitive and product information from the field.


• Represents company at trade associations and exhibits to promote corporate product.


• Conducts annual agency audits.


• Coordinates special projects of behalf of Regional Manager, as assigned.


• Provides training sessions for team, other Business Development Consultants, other business units, agents and policyholders as required.


• Mentors other team members by providing guidance, advice, encouragement, and motivation employees in their daily efforts.


• Acts as back-up for Regional Manager.


• Serves as technical expert or regional advisor for region or territory.

This position description identifies the responsibilities and tasks typically associated with the performance of the position.  Other relevant essential functions may be required.

EDUCATION AND EXPERIENCE

Relevant combination of education and experience may be considered in lieu of degree.

• Bachelor’s degree in marketing, insurance or related field. MBA or other advanced degree is preferred.


• Certification, or progress toward, highly preferred and encouraged. MBA or other advanced degree is preferred.


• A minimum of seven to ten years’ experience in an insurance organization with demonstrated technical knowledge in one or more of the following areas: underwriting, marketing, loss prevention, auditing or similar knowledge that provide the necessary skills and abilities.


• Continuous learning required, as defined by the Company’s learning philosophy.


• Workers’ compensation or P&C insurance experience required. Management experience preferred.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

OTHER SKILLS AND ABILITIES

• Demonstrated superior judgment in evaluating and determining the proper pricing for prospective policyholders using corporate underwriting guidelines by accepting or rejecting risks for the purposes of issuing workers’ compensation insurance coverage.


• Demonstrated superior judgment and analytical abilities to analyze regions and/or territories and identify corrective action.


• Thorough knowledge of departmental procedures, processes and workflow.


• Extensive knowledge of appropriate jurisdictional workers’ compensation laws, regulatory authorities, industry trends and their impact.


• Ability to take a lead role and/or assist in training and mentoring of others.


• Ability to understand business needs and conceptualize and implement processes and procedures that support business strategies.


• Ability to research workers compensation laws, regulations or issues specific, in order to offer guidance and/or direction to others.


• Ability to train and mentor others.


• Demonstrated ability to communicate our value proposition as a carrier.


• Demonstrated leadership abilities.


• Demonstrated expertise regarding territory or region.


• Expert knowledge of workers compensation insurance and underwriting techniques.


• Demonstrated expertise in Risk Management techniques, strategies and market segment nuances.


• Ability to effectively communicate and formally present programs and concepts to high level contacts from agents, brokers and risk management customers.


• Ability to take a lead role on Risk Management new business acquisition and renewal retention strategies.


• Ability to understand customers’ business needs and customize pricing and services strategies accordingly while also achieving Enterprise profitability goals.


• Knowledge of claims and loss control concepts, including impact of treatment of Allocated Loss Adjustment Expense and market differentiators.


• Knowledge of insurance operations including state jurisdictional requirements.


• In-depth knowledge of various rating plans and pricing mechanisms (retro’s, retention plans, large deductibles).


• Demonstrated superior judgment in evaluating and determining the proper pricing for prospective policyholders using Enterprise underwriting guidelines. Extensive knowledge of appropriate jurisdictional workers’ compensation laws, regulatory authorities, industry trends and their impact.


• Ability to understand business needs and conceptualize and implement processes and procedures that support business strategies.


• Ability to train and mentor others.


• Demonstrated leadership abilities.

WORKING CONDITIONS: 

Work is performed both in the office and in the field with minimal hazards. Travel is required with occasional overnight stays.  May be required to lift and carry computer equipment and other marketing promotional items weighing up to 35 lbs.  Relocation may be necessary. Must possess a valid driver’s license with a record that meets corporate standards.

Pay Range - Actual compensation decision relies on the consideration of internal equity, candidate’s skills and professional experience, geographic location, market, and other potential factors. It is not standard practice for an offer to be at or near the top of the range, and therefore a reasonable estimate for this role is between $102,400 and $171,500

The qualifications listed above are intended to represent the minimum education, experience, skills, knowledge and ability levels associated with performing the duties and responsibilities contained in this job description. 

We are an Equal Opportunity Employer.  Diversity is valued and we will not tolerate discrimination or harassment in any form. Candidates for the position stated above are hired on an "at will" basis.  Nothing herein is intended to create a contract.

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