Nationwide
Location
Parsippany, NJ | United States
Job description
If you're passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide's Property and Casualty team could be the place for you!
Position will be hybrid model reporting to the Flanders, NJ office . Days spent in-office and working from home is negotiable and flexible based on applicant's needs. Open to surrounding areas ( New York, New Jersey, Philadelphia ).
You will be working in the E-Risk Services group's cyber and technology E&O underwriting team. The team is rapidly growing a sizeable book of business in these emerging risk lines of business and works with a national base of wholesale brokers. You will be responsible for quoting new business submissions we receive for both primary and excess opportunities from our brokers while cultivating and enhancing the broker relationships we have for this line of business. You will be predominantly working on accounts up to 100M in annual revenue with opportunities for larger business on an ad-hoc basis. There will also be opportunity to help further develop and enhance the coverage we offer for these product lines.
You will be responsible for meeting production and loss ratio goals, and taking appropriate actions on individual accounts. You will establish and maintain effective relationships with brokers in order to generate premium dollars and profitably. You will also take responsibility for the training and mentoring of lower level underwriters.
Degree with focus in finance, accounting, economics, IT, cyber security, and/or risk management preferred.
Three or more year's related experience as cyber and/or technology E&O underwriting assistant, underwriting associate, underwriter, broker assistant, broker, or other related insurance position preferred. Will also consider those with the same experience in specialty financial or professional liability lines of business. Previous work with wholesale brokerages also helpful.
Knowledge of cyber insurance, technology E&O, and/or specialty lines insurance preferred. Knowledge of cyber security controls and privacy liability rules and regulations preferred. Knowledge related to insurance, contract and business law helpful. Ability to communicate complex underwriting concepts required. Ability to multi-task, communicate effectively, verbally, and in writing, interpersonally with individuals at various levels and groups via telephone, e-mail and in person. Demonstrates advanced negotiation skills. Ability to analyze insurance risks to determine acceptability including policy language, various commercial rating plans and methodologies, reinsurance. Knowledge of related computer software. Ability to devise business solutions to problems, implements the most appropriate, and monitor its effectiveness. Ability to make decisions with minimal direct supervision.
The pay scale for this role is DSD62 (Internal use).
Job Description Summary
Are you a critical thinker who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both your analytical and creative abilities to make sound decisions and have a desire to help people solve real challenges, we want to know more about you! Under technical direction, assesses a company's risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by analyzing a company's financial statements/operations/management/industry and other information. Including, but not limited to the company's viability, issues, governance, regulatory environment, and experience. Achieves production and loss ratio goals within assigned territory by reviewing and analyzing claims, loss history and taking appropriate action on individual accounts. The underwriter works independently developing recommendations and applying judgment based on the financial analysis. Establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably. Territory assignments somewhat complex in nature concerning coverage and broker relationships. May assist with the research, development and presentation of new programs, forms and manuals.Job Description
Key Responsibilities:
Within established guidelines, analyze and review application, financial statements, company management, company prospects, industry prospects, legal structure and outstanding litigation.
Determines proper insurance program including layer attachment, terms, conditions, pricing and alternatively decline or non-renewal of coverage.
Servicing of existing and/or new accounts, including quote letter, binders, policy & endorsement issuance.
Achieves production and loss ratio goals by analyzing premium and loss results for assigned territory by line of business through sound marketing. Promotes company products and programs.
Monitors industry trends to stay well-informed of new products, distribution systems, trends and competitor offerings.
With supervision, establishes and maintains effective relationships with brokers in order to generate profitable premium dollars. Accompanies other underwriters to broker offices as required for marketing visits. Meets brokers to market services and ensure strong relationship to write business.
May participate in underwriting meetings with brokers, clients and other underwriters.
May perform other responsibilities as assigned.
Reporting Relationships: Reports to Manager. Serves as individual contributor, no direct or indirect reports.
Typical Skills and Experiences:Education: Undergraduate studies with focus in finance, accounting, economics, and/or risk management. Degree preferred.
Experience: One or more years related experience as a D&O, EPL and/or E&O Underwriter preferred. Previous business or finance experience helpful.
Knowledge, Abilities and Skills: General knowledge of lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques. Knowledge of financial statements, financial analysis, investments, market conditions essential. Ability to multi-task, communicate effectively, verbally, and in writing, interpersonally with individuals at various levels and groups via telephone, fax, e-mail and in person. Demonstrates effective negotiation skills. Ability to analyze insurance risks to determine acceptability including policy language, various commercial rating plans and methodologies, reinsurance. Ability to use/learn job related computer software. Ability to devise business solutions to problems, implements the most appropriate, and monitor its effectiveness. Ability to make decisions with supervision.
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring manager's leader and HR Business Partner.
Values: Regularly and consistently demonstrates the Nationwide Values.
Job Conditions:Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Normal office environment. Ability to travel locally and overnight for client meetings as needed.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some associates assigned to the job to perform a somewhat different combination of duties.
Benefits
We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here .
Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.
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