Professional Liability - Specialty Senior Underwriting Specialist (Hybrid/Remote)
Company: The Hanover Insurance Group
Location: East Providence
Posted on: March 13, 2023
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Job Description:
For more than 170 years, The Hanover has been committed to
delivering on our promises and being there when it matters the
most. We live our values every day, demonstrating we CARE through
our values, ESG initiatives and IDE journey.
Our Professional Liability department is seeking a Specialty Senior
Underwriting Specialist to join our dynamic team. The ideal
candidate will possess diverse professional liability experience in
LPL, MPL, A&E and APL, strong technical UW skills, a
collaborative style, and a dynamic market facing and sales-minded
demeanor.
The Hanover is reimagining the workplace and provides flexible work
arrangements to meet your work & life demands. This role may hybrid
or fully remote a flexible work arrangement (excluding, CA, CO, NY,
and WA) with occasional business travel as needed.
The Hanover provides a diverse and inclusive work environment and
encourages all qualified professionals to apply.
The actual job title and level may be flexible dependent on
candidate qualifications and experience.
Come Discover The Hanover Difference!
POSITION OVERVIEW:
Responsible for identifying, soliciting, underwriting, and selling
new and renewal Specialty accounts that drive profitable growth and
align with Industry Segments and LOB mix goals. Apply technical,
sales and analytical skills to provide insurance solutions that
help Hanover's customers manage risk. Demonstrates a thorough
understanding of Hanover's strategies and appetites and will use
internal and external data to make appropriate individual and
portfolio risk decisions. Operates with limited daily supervision,
seeks technical direction for matters outside one's authority and
general expertise. Operates within a standard letter of authority
for all underwriting decisions while managing a book of business,
with moderate to high technical complexity and coordination.
This is a Full-time, Exempt role.
IN THIS ROLE YOU WILL:
Technical Underwriting:
--- Thorough knowledge and understanding of business strategy
(segments, general; coverage differentials; partner/non partner,
etc.).
--- Knows and applies advanced underwriting concepts including risk
selection, exposure and hazard identification and control, coverage
implications, and loss analysis.
--- Advanced knowledge of pricing components and rating methodology
and correlates pricing to exposure, financial and competitive
analysis.
--- Adheres to CAT guidelines and applies increased knowledge of
CAT aggregation strategies to decision making.
--- Can identify types of coverages including gaps in coverages
typically provided within given operations, can explain coverages
and correlating exposures and controls to agents to complete our
value-added proposition.
Portfolio Management & Financial Acumen:
--- Manages assigned portfolio to achieve gross written premium,
profitability, rate, retention, industry and LOB mix, new business
and portfolio management goals.
--- Demonstrates ability to properly leverage competencies, act as
a resource, and build long-term, profitable and mutually beneficial
relationships with agencies, internal management, and external
resources.
--- Constructs and executes portfolio business plans independently
through organized workflow & desk management, which may include
special projects.
--- Reviews key metrics and uncovers trends that may lead to new
business opportunities within agents while achieving profitable
growth.
--- Drives the implementation of profit improvement initiatives
with key agents by leveraging resources.
--- Advocates and coordinates with Specialty departments to learn
and share knowledge in cross sell opportunities to help manage
portfolio/book of business.
Sales Management:
--- Operates with a franchise perspective to identify and drive
enhanced sell opportunities and create growth within other lines of
business and customer segments.
--- Utilize our value proposition to enhance agency economics,
partner conversion and product specialization in partnership with
local management. Prioritizes and drives effective relationship
management and producer activities to build trust, facilitate
negotiation, and secure commitment in order to improve yield and
retention ratios.
--- Through stewardship process engage at the customer level for
the most complex and prominent accounts within their territory.
--- Independently implements territory business plans, monitors
performance, adjusts plan to ensure a substantial pipeline for
future profitable growth.
--- Provide proper training and product knowledge transfer to
existing and prospective agents so they can effectively sell
Hanover as the go to market for their customers.
--- Makes sales presentations to agents and customers on a regular
basis. Participates in more complex accounts.
--- Ability to uncover customer needs, position specific solutions,
handle objections, and close deals.
WHAT YOU NEED TO APPLY:
--- Bachelor's Degree or equivalent experience.
--- 5-7+ years Underwriting experience.
--- 5-7+ years' experience driving agency relationships resulting
in profitable new and renewal business.
--- Consistently demonstrates high level of proficiency across LOB
UW core competencies. May specialize/certify in 1-2 specialty
areas; experience with LPL, MPL, A&E, and APL highly
desired.
--- Proficient in ability to identify, analyze and solve problems
and manage and prioritize multiple concurrent projects. Is a
resource by others to collaborate on more complex risks, pricing,
trends, industry segments coverages and product knowledge.
--- May conduct peer-to-peer self-audits under the direction of
management.
--- Demonstrates ability to adapt quickly to change, exercise
influence, and act as a change advocate being open to new and
different ways of thinking.
--- Viewed as an informal leader amongst the
team/branch/region/LOB. Open to and proactively shares knowledge
and expertise with peers, management and leadership. Acts as a
mentor for less experienced underwriters or newly hired
underwriters, may assist with training other team members.
--- Communication - Interacts and communicates with confidence with
all levels of external and/or internal business partners within
scope of responsibility, team and/or matrix environment. Can judge
appropriate means and method to communicate based on the nature of
the communication. Able to influence desired outcomes to drive
actions and results. Adept at influencing even when holding a
position contrary to the majority opinion.
--- Judgement and Decision Making - Ability to exercise judgment,
negotiate and make sound business decisions based on level of
authority. Applies judgment and expertise to determine when
escalation is needed. Demonstrates confidence in one's ability to
apply decision making to UW assessment.
--- Teamwork and Collaboration - Consistently fosters collaboration
and respect among team members. Easily adapts to the diverse
interests, styles and perspective of key players. Is able to engage
multiple members of a group to share information and to consider
other points of view to reach objectives, consensus and/or
deadlines. Experienced in working with a wide range of teams and
readily shares lessons learned.
CAREER DEVELOPMENT:
It's not just a job, it's a career, and we are here to support you
every step of the way. We want you to be successful and fulfilled.
Through on-the-job experiences, personalized coaching and our
robust learning and development programs, we encourage you - at
every level - to grow and develop.
BENEFITS:
We offer comprehensive benefits to help you be healthy, build
financial security, and balance work and home life. At The Hanover,
you'll enjoy what you do and have the support you need to
succeed.
Benefits include:
--- Medical, dental, vision, life, and disability insurance
--- 401K with a company match
--- Tuition reimbursement
--- PTO
--- Company paid holidays
--- Flexible work arrangements
--- Cultural Awareness Day in support of IDE
--- On-site medical/wellness center (Worcester only)
--- Click here for the full list of Benefits
EEO statement:
The Hanover values diversity in the workplace and among our
customers. The company provides equal opportunity for employment
and promotion to all qualified employees and applicants on the
basis of experience, training, education, and ability to do the
available work without regard to race, religion, color, age,
sex/gender, sexual orientation, national origin, gender identity,
disability, marital status, veteran status, genetic information,
ancestry or any other status protected by law.
Furthermore, The Hanover Insurance Group is committed to providing
an equal opportunity workplace that is free of discrimination and
harassment based on national origin, race, color, religion, gender,
ancestry, age, sexual orientation, gender identity, disability,
marital status, veteran status, genetic information or any other
status protected by law."
As an equal opportunity employer, Hanover does not discriminate
against qualified individuals with disabilities. Individuals with
disabilities who wish to request a reasonable accommodation to
participate in the job application or interview process, or to
perform essential job functions, should contact us at:
HRServices@hanover.com and include the link of the job posting in
which you are interested.
Privacy Policy:
To view our privacy policy and online privacy statement, click
here.
Applicants who are California residents: To see the types of
information we may collect from applicants and employees and how we
use it, please click here.%18148711% %%insurance%%
Keywords: The Hanover Insurance Group, East Providence , Professional Liability - Specialty Senior Underwriting Specialist (Hybrid/Remote), Other , East Providence, Rhode Island
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