Join to apply for the Surety Sr. Underwriting Specialist role at The Hanover Insurance Group
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Join to apply for the Surety Sr. Underwriting Specialist role at The Hanover Insurance Group
For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture.
Our Commercial Surety Team is seeking a Sr. Underwriting Specialist to join their growing team. This is a full time, exempt role. This is a hybrid or remote role, with our ideal candidate sitting in the West (CA, AZ, CO, OR, UT, WA, NV).
POSITION OVERVIEW: Responsible for identifying, soliciting, underwriting and selling new and renewal Surety accounts that drive profitable growth and align with industry segments, appetite and mix goals. Apply advanced financial, technical, analytical and sales skills to provide surety solutions that help Hanovers customers manage risk. Demonstrates a thorough understanding of Hanovers strategies and appetites and will use internal and external data to make appropriate individual and portfolio risk decisions. Operates within a broad Letter of Authority for all underwriting decisions and with limited direction while managing an assigned book of business, generally with high technical complexity and coordination.
WHAT YOU NEED TO APPLY:
Technical Underwriting:
- Thorough knowledge and understanding of business strategy (ability to distinguish all risk type differentials; partner/non partner agencies, etc., and how these characteristics fit into our portfolio).
- Know and apply deep knowledge of countrywide commercial and non-construction performance and payment bond types; advanced underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and risk analysis.
- Advanced knowledge of pricing components and rating methodology and correlates pricing to exposure, financial and competitive analysis.
- Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, industry and LOB mix, new business and portfolio management goals.
- Demonstrates ability to properly leverage competencies, act as a resource, and build long-term, profitable and mutually beneficial relationships with agencies and internal management.
- Constructs and executes portfolio business plans independently through organized workflow & desk management, which may include special projects.
- Reviews key metrics and uncovers trends that may lead to new business opportunities within agencies while achieving profitable growth.
- Drives the implementation of profit improvement initiatives with key agents by leveraging resources.
- Advocates and coordinates with Specialty departments to learn and share knowledge in cross sell opportunities to help manage portfolio/book of business Sales Management.
- Utilize our value proposition to enhance agency economics, partner conversion and product specialization in partnership with local management.
- Prioritizes and drives effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment in order to improve yield and retention ratios.
- Engage at the customer level to underwrite the most complex and prominent accounts within territory.
- Independently implements territory business plans, monitors performance, adjusts plan to ensure a substantial pipeline for future profitable growth.
- Provide proper product knowledge and underwriting appetite to existing and prospective agents so they can effectively sell Hanover as the go to market for their customers.
- Ability to uncover customer needs, position specific solutions, handle objections, and close deals.
- Bachelors Degree or equivalent experience.
- 5-7+ years Underwriting experience.
- 5-7+ years experience driving agency relationships resulting in profitable new and renewal business.
- Consistently demonstrates high level of proficiency across Surety underwriting core competencies.
- Proficient in ability to identify, analyze and solve problems and manage and prioritize multiple concurrent projects. Is used as a resource by others to collaborate on more complex risks, pricing, trends, industry segments coverages and product knowledge. May conduct peer-to-peer self-audits under the direction of management.
- Demonstrates ability to adapt quickly to change, exercise influence, and act as a change advocate being open to new and different ways of thinking.
- Viewed as an informal leader amongst the team/branch/region/LOB. Open to and proactively shares knowledge and expertise with peers, management and leadership. Acts as a mentor for less experienced underwriters or newly hired underwriters, may assist with training other team members
- Communication - Interacts and communicates with confidence with all levels of external and/or internal business partners within scope of responsibility, team and/or matrix environment. Can judge appropriate means and method to communicate based on the nature of the communication. Able to influence desired outcomes to drive actions and results. Adept at influencing even when holding a position contrary to the majority opinion.
- Judgement and Decision Making - Ability to exercise judgment, negotiate and make sound business decisions based on level of authority. Applies judgment and expertise to determine when escalation is needed. Demonstrates confidence in ones ability to apply decision making to UW assessment.
- Team work and Collaboration Consistently fosters collaboration and respect among team members. Easily adapts to the diverse interests, styles and perspective of key players. Is able to engage multiple members of a group to share information and to consider other points of view to reach objectives, consensus and/or deadlines. Experienced in working with a wide range of teams and readily shares lessons learned.
- Ability to travel est. 20%.
Its not just a job, its a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you at every level to grow and develop.
BENEFITS:
We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, youll enjoy what you do and have the support you need to succeed.
Benefits include:
- Medical, dental, vision, life, and disability insurance
- 401K with a company match
- Tuition reimbursement
- PTO
- Company paid holidays
- Flexible work arrangements
- Cultural Awareness Day in support of IDE
- On-site medical/wellness center (Worcester only)
- Click here for the full list of Benefits
The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.
Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.
As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: include the link of the job posting in which you are interested.
Privacy Policy:
To view our privacy policy and online privacy statement, click here.
Applicants who are California residents: To see the types of information we may collect from applicants and employees and how we use it, please click here.
Seniority level
Seniority level
Mid-Senior level
Employment type
Employment type
Full-time
Job function
Job function
Finance and Sales-
Industries
Insurance
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