Production Underwriter

The Production Underwriter I is responsible and has a key role for achieving company growth and profitability objectives for individual clients’ consumer vehicle, commercial, and real estate products while ensuring compliance with regulatory requirements. This is accomplished through risk management evaluation, specifically corrective performance evaluations of individual client premium and claims experience to ensure overall client profitability and client retention of existing business, while executing a thorough case management performance process. A major responsibility of the position includes negotiating and selling the underwriting reasoning to Sales representatives and Sales field support staff.

Job Duties and Responsibilities:

Pricing & Underwriting (50%)

• Follow established underwriting guidelines and CPFM department processes to analyze and document risks for new and renewal business in support of the company’s underwriting objectives.

• Exercise judgment and assess risks within defined procedures and guidelines to determine appropriate underwriting or pricing action steps. These guidelines are typically based on client level analytical & trend data, industry trends, regulatory requirements, and the company's risk appetite.

• Evaluate and make recommendations to CPFM department leadership, within SLA standards which determine whether to accept, modify, or decline new or renewal business which deliver positive impact toward achieving profitability metrics and targets.

• Coordinate review of work product and recommendations with senior underwriters or department management to measure whether established objectives and metrics are achieved.

• Analyze coverage and insurance limit requests and recommend offer terms and product structure.

• Evaluate and determine when the product risk requires escalation to the senior underwriting team members and leaders.

Product & Profitability Performance Analysis  (30%)

•  Initiates a product performance evaluation process when an unprofitable loss ratio is detected. Coordinates these efforts with department leadership or senior underwriting staff.

• Data Mining, Collection & Preparation – Collect data from various sources including databases, spreadsheets, and other relevant platforms. Research and identify potential causes of premium, revenue, claims, and expense trending.

• Data Analysis and Interpretation - Analyze routine data sets using familiar statistical techniques and data analysis methods. Identify trends and patterns within the data.

• Product performance - Evaluates the appropriate underwriting course of action for policy changes, tracking system changes, risk management operations issues and claims processing issues. • Reviews and recommends corrective performance changes with department leadership or senior underwriting staff.

Be alert for product and service performance improvements that drive operational efficiency, minimize cost, reduce claims and maximize revenue production. Identifying these opportunities may require some understanding of other RMO teams.

• Recommend and implement product level corrective or positive measures.

• Suggest innovation and standardization of risk management and business techniques.

• Consider all product & services relationships when evaluating a client’s profitability.

Communication & Collaboration and Perform Duties as assigned  (10%)

• Support execution of Company Key Plan & Strategy Initiatives and CPFM department goals.

• Communicate and collaborate primarily within CPFM, intermittently with other RMO teams and may occasionally communicate externally with Allied Solutions carriers, partners or clients.

• Coordinate communication of periodic review of assigned tasks which is reviewed with CPFM department management to measure progress and completion of goals and objectives.

• Coordinate and provide input on goals with department leadership.

• Document and maintain progression within the requested format.

• Ability to explain policies, practices and procedures of the Production Underwriter I responsibilities to other CPFM and RMO team members.

• Monitor and follow up on outstanding customer relations management (CRM) tickets.

                                   

Maintain understanding of third party insurance carrier requirements and CFPB, NCUA, & State Regulations  (10%)

• Maintain accurate records of underwriting decisions, correspondence, and other relevant documentation in accordance with regulatory requirements and company policies.

• Advance a culture of ongoing learning and continuous improvement.

• Maintain an understanding of CFPB, NCUA & State Regulations. This includes:

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