Production Underwriter AFM

This position is accountable for developing and growing a profitable portfolio of business in an assigned territory, consistent with Corporate/Commercial Property policies, business strategies and objectives.

This is accomplished through the marketing of Affiliated company products and loss prevention engineering services to a network of producers with whom long term relationships are developed and maintained. It involves the production and retention of quality new and renewal business through effective risk selection, creative underwriting strategies to optimize net retention, negotiation of pricing, terms and conditions that effectively balance both customer and company needs, and coordination of account team resources in order to provide excellent and responsive service that adds value to our broker and customer relationships.

1. Market Affiliated company products and loss prevention engineering services to a network of producers in an assigned territory to sustain a stream of desirable new business opportunities and a stable portfolio of existing customers.

a. Research and recommend the appointment of new brokers capable of developing and growing a profitable book of property business.
b. Establish multiple business contacts at appointed producers to maximize opportunities and maintain long term relationships.
c. Implement an effective program of calls to ensure comprehensive coverage of producers in an assigned territory.
d. Introduce and market Affiliated company products and engineering services through effective use of professional sales techniques, presentations, and the application of new business development strategies.
e. Understand and demonstrate the value our products and services bring to the different broker segments, i.e. global, regional and wholesale.

2. Develop and grow a profitable book of business through the application of sound underwriting principles and creative use of underwriting and engineering resources to effectively analyze and select risk.

a. Evaluate and determine the acceptability of the risk as it exists today and its future potential. This includes a thorough analysis of the broker submission, desired pricing, terms and conditions, financial condition, adequacy of reported values, loss experience and occupancy loss trends, and existing and anticipated changes in the Insured’s business.

b. Coordinate engineering resources by working with the Account Engineer to complete an account risk assessment that identifies and quantifies exposures, determines favorable and unfavorable risk characteristics, and determines overall risk quality.
c. Complete a location level evaluation of allowable net capacity and an account risk analysis to determine overall program structure and linesetting parameters that optimize net retention.
d. Skillfully negotiate final program coverage, pricing, terms and conditions to recognize market conditions and meet customer needs in the most cost efficient way while optimizing the company’s potential for profit.
e. Protect company's assets by adhering to company underwriting standards and procedures. This will include determining the amount subject, net capacity commitment, checking cross liability, management of catastrophe aggregate retentions, negotiating and purchasing reinsurance and establishing commissions in a manner most advantageous to the company, and verifying that the policy clearly reflects underwriting intent.

3. Successfully retain an existing book of business through an understanding of risk and our ability to deliver innovative underwriting and engineering solutions that add value to our customer’s business.

a. Work with the Account Engineer to determine the nature and level of loss prevention activity needed on an account and identify risk improvement priorities.
b. Support efforts to ensure customer understanding of the risk and its business impact in order to achieve needed risk improvement.
c. Utilize our engineering resources as a value-added benefit to our customer and as a tool for increasing net retention.
d. Maintain regular contact with the producer, and customer as appropriate, throughout the term of the policy in order to monitor and manage change in the customer’s business and exposures.
e. Re-evaluate and tailor a program of coverage, capacity, terms and conditions, price and engineering fees to meet changing customer needs, as well as changes in market conditions, company standards, procedures, and objectives.
f. Continuously improve the overall quality of the portfolio by improving or canceling bottom accounts that have the greatest potential to negatively impact profitability.

4. Provide responsive service to our broker and customer base that leverages our strengths as a competitive differential in the marketplace.

a. Ensure that submissions, proposals, policies, billing, and requests for midterm changes are handled expeditiously with documentation delivered in an accurate and timely fashion to meet processing objectives.
b. Provide professional advice and consultation on insurance coverage and risk management matters, and demonstrate our underwriting expertise and flexibility in the determination of customized coverage and underwriting solutions.
c. Assume a leadership role working with the Account Engineer, Account Administrator, Administrative Assistant, Claims and other personnel, as appropriate, to coordinate and deliver all products and services in a manner that is responsive, innovative and demonstrates transactional speed and ease.

5. Represent Affiliated company in the marketplace as the “property insurer of choice” by acting as a professional, property insurance specialist.

a. Execute all company practices and procedures for this position and implement an annual business plan in accordance with established company objectives and time frames.
b. Pursue an ongoing program of training and professional development to ensure skills and knowledge keep pace with changing customer demands and market developments.
c. Maintain an up-to-date knowledge of company standards, processes, systems and procedures, loss prevention engineering practices, policy wordings, product and service offerings.
d. Develop and maintain positive relationships with approved facultative reinsurers in order to differentiate Affiliated FM from our competitors.
e. Participate at local insurance community events and maintain a network of industry contacts.

f. Recognize and effectively communicate broker and customer needs and report on market intelligence to management in order to continuously improve the quality of Affiliated company product and service offerings.
REQUIREMENTS
5 years industry experience (broker/insurance company) as a Production Underwriter for commercial property accounts of varying occupancies and sizes.

Sound working knowledge of our business including a good understanding of risk identification and assessment, property insurance coverage, forms, financial statements and business computer applications. Demonstrated skills in oral and written communication, time management, analysis, decision-making, problem solving, sales/negotiation/presentation and leadership as well as the ability to establish a network of property producers and industry contacts.