| Opportunity Number: | 25775702 | | Company Name: | Hanover Insurance | | Location: | Itasca, IL US | | Category: | Insurance | | | Updated: 8/25/2010 |
Lead Underwriter - Lawyers Professional Liability
| Lead Underwriter - Lawyers Professional Liability
Job ID #: 578 Location: Itasca, IL
Functional Area: Underwriting SBU: 49001 - Lawyers Professional Liability
Position Type: Full - Time
Education Required: Bachelors Degree
Experience Required: 5 - 7 Years
Relocation Provided: No
Job Description
Lead Underwriter LPL, Hanover Professionals
Hanover Professionals, a member of The Hanover Insurance Group, is seeking a Lead Underwriter for Lawyers Professional Liability (LPL) in their Itasca, IL office.
Position Overview:
The Lead Underwriter has oversight of strategy execution for the middle market underwriting team within Hanover Professionals LPL business, as well as direct responsibility for new business production, agency management, and key renewals with assigned agencies. The primary focus is to drive LPL professional liability middle market business with agents, and to build strong relationships with key specialty and multi-line agents to identify and write new middle market professional liability accounts.
Responsibilities:
- Responsible for the execution of Hanover Professionals strategy within the Premier (middle market LPL) team. This may include triage of submission flow, review of risks to ensure Hanover is using capacity wisely and maintaining agency relationships, and attainment of profit and growth goals for the unit.
- Develop relationships with agents. Assist with driving new business flow using a solid understanding of the agents business plans and Hanovers value proposition and strategy.
- Ensure that multi-line agents understand the direction of the professional liability market and underwriting standards and the Hanovers new business risk profile to generate quality new business.
- Manage a portfolio of renewal business including underwriting and pricing, with a focus on retention.
- Achieve goals as outlined in the business plan for assigned agents around loss ratio, total written premium, new business, and renewal retention.
- Serve in a collaborative and open manner on a team consisting of other Underwriters, Underwriter Technicians, Customer Service personnel, etc. Proactively communicate with team members to achieve optimum business results.
Key Accountabilities and Deliverables (Measures)
Retention Rate
New Business
Profitability/Loss Ratio
Service
Underwriting Quality
Agency Relationships
Position Requirements
Skills, Knowledge & Abilities
- Well developed technical underwriting expertise and negotiation skills. Ability to effectively assess risk required.
- In-depth knowledge of LPL and legal and regulatory guidelines. Market awareness of competitive conditions throughout the United States.
- Strong analytical and problem solving skills; able to identify, analyze and resolve issues. Attention to detail.
- Excellent interpersonal and communication skills. Ability to effectively interact with all levels of Hanovers internal and external business partners.
- Effective in cultivating strong business relationships, able to identify potential obstacles and find common ground for pursuing business opportunities.
- Negotiation skills that can effectively influence and persuade others. Able to overcome objections, anticipate concerns, and work to overcome them.
- Ability to exercise independent judgment and make sound business decisions effectively.
- High degree of personal organization and time management skills. Ability to multi-task under tight timeline constraints, including ability to prioritize and perform successfully in a fast paced environment
Requirements:
- Bachelors Degree or equivalent experience; professional designations (CPCU, RPLU) are a plus
- 5-10 years of professional liability underwriting experience required, with a minimum of three years of lawyers professional liability underwriting experience.
- Prior experience in underwriting or business development for a carrier highly desired. Must have experience with a retail agency distribution model.
- Demonstrated production underwriting experience, with a record of execution and producing results.
Nearest Major Market: Chicago
Job Category: Customer Service, Customer Service, Customer Service Representative, Insurance, Liability, Underwriter, Legal, Law, Retail, Retail Sales, Sales, Business Development, Service, Customer Service |
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