Associate Underwriter – Inland Marine (Finance)
JOB DESCRIPTION
Chubb is currently seeking a skilled Associate Underwriter to join its Major Accounts Inland Marine Group in our Chicago, IL office.
The Associate Underwriter's primary responsibility is to aid the Inland Marine group in the management and retention of accounts assigned manage an existing book of renewable business through a demonstration of the following skills and abilities:
- Fundamentals of coverage, terms and conditions. Understand ability to offer coverage, terms and conditions which generate a profit for the Company while meeting the needs of the customer.
- Risk Assessment. Ability to identify risk exposures, special or common hazards, and appropriate controls. Ability to select risk based on exposure and risk analysis. Ability to analyze claims and quantify losses.
- Financial proficiency. Understanding of insurance financial fundamentals and their impact on underwriting decisions.
- Actuarial fundamentals. Ability to understand loss trends and ratemaking. Ability to quantify risk based on experience history and forecasting methods.
- Marketing and communications. Ability to sell and negotiate to achieve bottom line profitability for the Company. Ability to base communications on strategic thinking. Ability to manage producer strategy.
- Systems and programs. Ability to use systems and software programs needed to conduct daily business.
- Collaboration. Ability to collaborate effectively with the underwriting team to assist with account management tasks.
Duties may include but are not limited to:
- Effectively and efficiently process underwriting workflow through interaction with internal and external partners to ensure standards are consistently upheld.
- Examine applications, renewals, and change requests, collecting all necessary information to fully prepare the Underwriting team to make decisions regarding risk acceptability, terms, and pricing.
- Within established business plans, identify, analyze, and underwrite risks while adhering to corporate guidelines regarding risk selection, treaties, reinsurance, coverage, and pricing to obtain desired results.
- Manage a book of business offering strategic underwriting guidance including rate/terms/deductibles
- Monitor results of the overall book of business assigned and recommend corrective action as necessary to insure profitability and retention of desirable accounts
- Establish and maintain strong working relationships with assigned agents to support profitable growth.
- Provide quality and timely input on assigned projects to meet the Company's needs in the changing market and to support profitable growth
- Participate in audits and/or underwriting meetings as required.
- Cross-sell opportunities within other Chubb divisions through promotion of their products and services.
- Travel less than 25%
QUALIFICATIONS
- Bachelor's
ABOUT US
Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.
