Middle Market Portfolio Underwriting Specialist

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, ESG initiatives and IDE journey.

Our Middle Market department is seeking a Portfolio Underwriter to join our growing team in our Colorado territory. 

Position summary:

Responsible for the underwriting and retention of Middle Market renewal accounts that drive profit and align with the business unit objectives and strategies. The renewal book will be comprised of 120 – 160 annual accounts with an average book premium of $12M - $20M. The Portfolio Underwriting Specialist will partner with Field Underwriting and Leadership teams to engage in agency and producer management for assigned territory, apply technical, sales and analytical skills to offer insurance solutions to our customers, promote franchise value opportunities such as cross-sell of the existing renewal portfolio and demonstrate a strong understanding of the business unit’s appetite and risk tolerance. Responsible for operating within a Letter of Authority and/or collaborating with business unit leadership on underwriting decisions. Accountable for meeting acceptable quality and service standards set forth by the company. Work closely with an Underwriting Technician to ensure all policies are efficiently and effectively managed throughout the renewal underwriting process.

This is a Full-time, Exempt role.  This is a Hybrid position. 

Responsibilities/Essential Functions:

Technical Underwriting:

• Applies knowledge of underwriting concepts and risk acceptability to assigned renewal portfolio including adequate pricing of exposures to make sound underwriting decisions. Partners with others on complex decision-making to garner additional expertise and support.
• Learns and utilizes all underwriting tools and systems needed to inform the decision-making process ensuring underwriting guidelines are followed.
• Adheres to Catastrophe guidelines and maintains underwriting discipline to minimize exposure ensuring appropriate pricing, terms and conditions apply to individual risks.
• Collaborates with Risk Solutions to build knowledge of loss exposures and best practices to mitigate risk.
• Operates within the scope of assigned Letter of Authority and/or receives appropriate approval for elements outside of authority. Completes file documentation in accordance with company standards and state regulations. Able to clearly articulate thought process around individual account decisions.

Portfolio Management & Financial Acumen:

• Manages portfolio to execute upon business unit objectives for rate, new money, retention, mix and profitability. Identify cross-sell opportunities within existing book and coordinate with the Sales Underwriter to solicit new business opportunities.
• Builds knowledge of pricing components and rating methodologies to make pricing recommendations on individual accounts within the portfolio.
• Develops financial acumen by learning the various profit components that impact the portfolio’s profitability. Apply financial knowledge through portfolio management strategies that will improve overall book performance.
• Develops an understanding of the marketplace factors and trends that can affect pricing in order to explain pricing decisions.
• Supports the implementation of profit improvement initiatives with agency partners. Keeps Sales Underwriting team informed of any adverse underwriting actions that will be taken.

Sales Acumen and Customer Advocacy:

• Partners with local team to build and maintain agency relationships within assigned agency plant. Co-travel with peers or leaders to meet with agents to discuss underwriting topics including but not limited to Hanover’s capabilities, renewal account negotiations, account cross-sell opportunities and/or in-person renewal quote delivery.
• Builds sales skills including negotiation, objection handling and professional influencing capabilities. Proactively anticipate objections (internal and external) and develop effective responses.
• Engages with internal and external customers to enhance business relationships and improve retention ratios.
• Demonstrates an understanding of the issues and concerns which affect both internal and external customers and stakeholders and applies that knowledge to enhance relationships.

Position Requirements:

• Bachelor’s degree preferred and 2+ years of underwriting experience.
• Communication (written and verbal) - anticipates audience needs when communicating, actively seeks to understand when there is lack of clarity, able to clearly articulate and express points of view and perspectives both verbally and in writing.
• Judgement and Decision Making – able to apply logic to decisions identifying and evaluating risks and implications. Uses current data and information to inform recommended decisions and actions.
• Agile and Adaptive – ability to work in a fast paced, highly dynamic environment. Able to shift focus and manage new and changing situations.
• Teamwork and Collaboration – seeks opportunities to share information and offer ideas that will allow others to benefit or succeed. Shows respect for differences and diversity in ideas and views.
• Prioritization and Desk Management – takes personal ownership for the management workload and output. Applies understanding of business workflows and processes to determine focus and urgency needed. Understands and applies best practices and performance standards to work product.

CAREER DEVELOPMENT:

It’s not just a job, it’s 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, you’ll 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

EEO statement:

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: HRServices@hanover.com and include the link of the job posting in which you are interested.

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