MM Underwriting Tech
Job ID #: 5909 Location: Syracuse, NY
Functional Area: Underwriting SBU: 24000 - Upstate New York Branch
Position Type: Full - Time
Education Required: Not Indicated
Experience Required: 1 - 3 Years
Relocation Provided:
Job Description
Our Policy is Performance
Hanover Insurance is a winning company comprised of outstanding professionals focused on a single vision: to be the very best in our business. At The Hanover you will have the opportunity to: Grow Your Career, Love What You Do and Be Valued for Your Contributions.
Position Overview/Summary:
The Middle Market Underwriting Technician is responsible for supporting the Middle Market Underwriters by servicing accounts for their assigned books of business. May be responsible for handling a renewal book within underwriting authority levels that falls outside of an underwriting filter. Works to strengthen agency relationships in conjunction with the MM underwriter.
Responsibilities/Essential Functions:
Applies fundamental underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, pricing, and loss analysis as appropriate
Communicates effectively with internal and external contacts
Instills a sense of ownership in their assigned book of business and responsibilities
Actively involved in team structure and dynamics
Within their authority statement and in conjunction with assigned underwriter, may manage a subset book of renewals (falling outside of filter) including exposure analysis, evaluation of changes, and pricing, for final negotiation and proposal to agency
Outside of authority level, manages renewal preparation for assigned territory/underwriters including:
o Updating information (MVR analysis, ITV, financial data, losses, renewal applications, etc) for complete analysis and recommendation to Underwriter
o Follow up on outstanding issues (i.e. loss control recommendations, etc)
o Follow up on prequotes from rating
o Requoting within current systems as needed with requotes limited to adjustment of credits, debits, or deductibles or any requotes that can be completed within set time frame
o Completes renewal proposals as requested
o Provides final instructions for renewal processing
Completes file documentation according to best practices guidelines
Manages midterm transactions of assigned book of business including:
o Handling endorsements that fall outside of the endorsement authority letter of rating and within UT authority statement
o Handling cancellations or assisting underwriters with nonrenewal requests
o Reviews outstanding loss control recommendations and follows through with agent for satisfactory outcome
o Reviews premium audit results and issues and takes appropriate actiono Facilitates completion of all work items within service standards
o Responds to agent service questions and handles problems and service issues to a satisfactory resolution? Supports Underwriter in stewardship process, as appropriate
Supports the Underwriters in new business activities:
o Triages submissions including validation of market Segment and identification of duplicate submissions
o Creates ARF and completes missing or requested information with recommendation made to UW for their review o Assists Underwriter in pipeline management for qualified submissions
o Provides declination letters on selected accounts as requested by underwriter
o Manages quoting and issuing cycle
Position Requirements
Required Skills, Key Competencies and Experience:
- Associate’s Degree or equivalent
- 2+ years of insurance industry experience
- Demonstrates superior problem solving skills, knows how to find missing information.
- Attention to Detail
- Underwriting knowledge and awareness of how the various roles/functions fit together and why each are important.
- Demonstrates solid understanding of basic exposure/control analysis and coverage.
- Excellent customer service, and phone skills
- Strong computer skills, including email, windows interface, etc.
Key Competencies
- Information Seeking - Thoroughly investigates and researches multiple sources to expose details and complete information about resources, issues, problems, and so forth. Conducts in-depth research, asks probing questions, and transcends surface issues.
- Self-Management - Effectively plans and organizes their work to achieve desired outcomes. Demonstrates flexibility in applying different approaches to changing work demands. Is confident of own abilities to meet challenges and can maintain performance under stress. Seeks improvement through learning, development and feedback.
- Problem Solving - Thinks critically and anticipates, recognizes, identifies, and develops solutions to problems in a timely manner.
- Time Management - Approaches work systematically by monitoring and checking work or information and effectively managing time.
Physical Demands and Work Environment:
- Ability to use a personal computer and other standard office equipment.
- Ability to sit and/or stand for extended periods (80-95%).
- Ability to work in a fast paced or stressful environment.
- Limited travel as necessary and required to perform above functions.
EEO Statement
The Hanover Insurance Group provides equal opportunity for employment and promotion to all qualified employees and applicants. No person shall be discriminated against in employment on the basis of race, color, religion, gender, age, national origin, marital status, disability, sexual orientation, veteran status or any other status or condition protected by applicable federal or state statutes. The company is willing to provide reasonable accommodation to all qualified disabled persons in order to assist them in performing the essential functions of their positions. The Company is committed to maintaining an environment in which all employees are treated equitably and given the opportunity to achieve in the workplace
Job ID #: 5909 Location: Syracuse, NY
Functional Area: Underwriting SBU: 24000 - Upstate New York Branch
Position Type: Full - Time
Education Required: Not Indicated
Experience Required: 1 - 3 Years
Relocation Provided:
Job Description
Our Policy is Performance
Hanover Insurance is a winning company comprised of outstanding professionals focused on a single vision: to be the very best in our business. At The Hanover you will have the opportunity to: Grow Your Career, Love What You Do and Be Valued for Your Contributions.
Position Overview/Summary:
The Middle Market Underwriting Technician is responsible for supporting the Middle Market Underwriters by servicing accounts for their assigned books of business. May be responsible for handling a renewal book within underwriting authority levels that falls outside of an underwriting filter. Works to strengthen agency relationships in conjunction with the MM underwriter.
Responsibilities/Essential Functions:
Applies fundamental underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, pricing, and loss analysis as appropriate
Communicates effectively with internal and external contacts
Instills a sense of ownership in their assigned book of business and responsibilities
Actively involved in team structure and dynamics
Within their authority statement and in conjunction with assigned underwriter, may manage a subset book of renewals (falling outside of filter) including exposure analysis, evaluation of changes, and pricing, for final negotiation and proposal to agency
Outside of authority level, manages renewal preparation for assigned territory/underwriters including:
o Updating information (MVR analysis, ITV, financial data, losses, renewal applications, etc) for complete analysis and recommendation to Underwriter
o Follow up on outstanding issues (i.e. loss control recommendations, etc)
o Follow up on prequotes from rating
o Requoting within current systems as needed with requotes limited to adjustment of credits, debits, or deductibles or any requotes that can be completed within set time frame
o Completes renewal proposals as requested
o Provides final instructions for renewal processing
Completes file documentation according to best practices guidelines
Manages midterm transactions of assigned book of business including:
o Handling endorsements that fall outside of the endorsement authority letter of rating and within UT authority statement
o Handling cancellations or assisting underwriters with nonrenewal requests
o Reviews outstanding loss control recommendations and follows through with agent for satisfactory outcome
o Reviews premium audit results and issues and takes appropriate actiono Facilitates completion of all work items within service standards
o Responds to agent service questions and handles problems and service issues to a satisfactory resolution? Supports Underwriter in stewardship process, as appropriate
Supports the Underwriters in new business activities:
o Triages submissions including validation of market Segment and identification of duplicate submissions
o Creates ARF and completes missing or requested information with recommendation made to UW for their review o Assists Underwriter in pipeline management for qualified submissions
o Provides declination letters on selected accounts as requested by underwriter
o Manages quoting and issuing cycle
Position Requirements
Required Skills, Key Competencies and Experience:
- Associate’s Degree or equivalent
- 2+ years of insurance industry experience
- Demonstrates superior problem solving skills, knows how to find missing information.
- Attention to Detail
- Underwriting knowledge and awareness of how the various roles/functions fit together and why each are important.
- Demonstrates solid understanding of basic exposure/control analysis and coverage.
- Excellent customer service, and phone skills
- Strong computer skills, including email, windows interface, etc.
Key Competencies
- Information Seeking - Thoroughly investigates and researches multiple sources to expose details and complete information about resources, issues, problems, and so forth. Conducts in-depth research, asks probing questions, and transcends surface issues.
- Self-Management - Effectively plans and organizes their work to achieve desired outcomes. Demonstrates flexibility in applying different approaches to changing work demands. Is confident of own abilities to meet challenges and can maintain performance under stress. Seeks improvement through learning, development and feedback.
- Problem Solving - Thinks critically and anticipates, recognizes, identifies, and develops solutions to problems in a timely manner.
- Time Management - Approaches work systematically by monitoring and checking work or information and effectively managing time.
Physical Demands and Work Environment:
- Ability to use a personal computer and other standard office equipment.
- Ability to sit and/or stand for extended periods (80-95%).
- Ability to work in a fast paced or stressful environment.
- Limited travel as necessary and required to perform above functions.
EEO Statement
The Hanover Insurance Group provides equal opportunity for employment and promotion to all qualified employees and applicants. No person shall be discriminated against in employment on the basis of race, color, religion, gender, age, national origin, marital status, disability, sexual orientation, veteran status or any other status or condition protected by applicable federal or state statutes. The company is willing to provide reasonable accommodation to all qualified disabled persons in order to assist them in performing the essential functions of their positions. The Company is committed to maintaining an environment in which all employees are treated equitably and given the opportunity to achieve in the workplace