Sr Underwriting Specialist - Referral
PMA Companies

The Sr. Referral Underwriter is responsible for the development and successful underwriting of PMA's casualty lines of coverage (Workers Compensation, General Liability and Commercial Automobile). The position will collaborate on corporate strategy for risk selection, pricing, risk appetite, and underwriting authority guidelines and establish quality assurance metrics.

Responsibilities

• Loss Forecasting and Pricing System: responsible for developing, promoting use, training and coaching underwriters on inputting data, calculating and interpreting results, assumptions behind pricing methodologies, etc.
• Responsible for the underwriting decision making process for all accounts outside Regional Underwriting Manager authority level and direct underwriting decision making process for all accounts involving referrals to segment SVP or EVP of Underwriting
• Responsible for the Facultative Reinsurance transaction process (review placements for adherence to corporate appetite concerning use, terms, conditions, limits, exposure, treaty impairment or conflict, carrier acceptability, etc.). Ensure proper documentation/administration procedures are followed, assist in marketing and quote solicitation process, and communicate directly with Reinsurance Officer concerning any activity that concerns our Treaty arrangement or list of Approved Reinsurance markets
• Target Account List: review content of list by branch -- inclusion of problematic or inappropriately handled accounts uncovered during Quality Assurance or Branch Profitability reviews, oversee corrective process, and ensure all action plans are completed in a timely manner
• Track completion of Interim Review analysis. Ensure that analysis is completed timely and accurately. Evaluate soundness of conclusions drawn. Ensure proper communications disseminated to appropriate team members for problem resolution. Ensure report distribution is completed on a timely basis (accounts requiring home office review)
• Provide support and problem resolution for any issues developed during the audit, retrospective adjustment, premium billing, deductible reimbursement (AMPS), or any other policy administrative procedure
• Act as liaison between branch underwriting and Product Development department concerning underwriting protocols, filing restrictions and requirements, coverage modifications, classification or limit exceptions, and recommending any additional product or filing needs
• Responsible for the timeliness of referral process to ensure risk selection, pricing, coverage mediation, and program negotiations are completed in an effective and efficient manner. Ensure consistent and timely communications occur between specialist and branch underwriting relative to any decisions rendered or program options approved for delivery to agent, broker, client, or direct sales representative
• Create diary to monitor, track, and coordinate renewal activity. If necessary, review planning meeting minutes or pre-renewal meeting documentation to ensure orderly renewal negotiation process. Additionally, ensure renewal process is operating at maximum capacity to adequately respond to new business opportunities
• Analyze Interim Review documentation to ensure selected accounts are performing within appropriate loss ranges and in accordance to set of assumptions used at time of initial underwriting. Coordinate with branch underwriting to ensure any mid-term corrective measures are determined and implemented.
• Review analysis and feedback provided by Quality Assurance Administrator to identify "sub-standard" account situations in respective territory. Coordinate and assist in the development of a corrective action plan with branch underwriting to ensure proper (and agreed upon) remedies are implemented
• Review feedback provided by Quality Assurance Administrator to identify segment performance issues and educational opportunities. Assist in the development and delivery of specific training modules addressing informational or educational needs. Monitor performance in noted areas through daily referral interaction to determine effectiveness of training approaches and activities
• Provide technical sales support in selling features, benefits, and administration of loss sensitive product offerings (large deductible (pre-funded or traditional), retrospectively rated (incurred or paid loss), self-insured (SIR or excess), and loss portfolio transfer (including requested closure of previous retrospective or large deductible products)
• Conduct branch travel to assist in the development (agency or client interaction), evaluation (risk control survey or claims review), or negotiation (agent or client interaction) of an existing (renewal) or prospective (new) business relationship as needed.
• Provide assistance in the evaluation, development, and solicitation of new business opportunities or agency/broker expansion. This may require assistance in the development of a new business prospect list, a formal agency business plan, setting flow or new business objectives, or coordinating a business meeting (due to prior or existing business relationships) for the purpose of appointment (contract) or individual transaction
• Develop and present specific training topics during annual underwriter training session or during other unscheduled training opportunities at the direction of segment management (AVP or VP)
• Provide continuous direction relative to basic underwriting fundamentals, coverage and policy language interpretation, segment directives for program design, product usage, risk selection, margin requirements, and loss containment, underwriting authority, program administration (including Actuarial and Financial review)
• Demonstrate commitment to Company's Code of Business Conduct and Ethics, and apply knowledge of compliance policies and procedures, standards and laws applicable to job responsibilities in the performance of work

• Bachelor's degree or equivalent experience required
• 7 to 10 years of large casualty underwriting with an insurance carrier required
• Understanding and technical knowledge of underwriting mechanics and fundamentals
• Knowledge of casualty coverage and loss sensitive deal structures (retrospective rating, large deductible, captive, and self-insurance). Additional knowledge in financial analysis, account management and collateral management is preferred
• Knowledge of local and regional market conditions as well as industry trends
• Knowledge of underwriting territory and strong relationships with the local distribution network (local and regional agents, national and regional brokers, and select consultants)
• Strong ability to effectively communicate verbally and in writing to uncover business needs
• Ability to interact with various levels of management and support personnel
• Advanced skills in analysis, decision making/problem solving, planning and organizing; negotiation and mathematical proficiency
• Strong desire to work collaboratively and foster a team oriented environment with other internal business partners
• Willingness to travel for business purposes
• Chartered Property Casualty Underwriter (CPCU); Associate in Risk Management designation or other professional designations are desired