Sr. Flood Underwriter - Remote

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timePosted 12 days ago location United States salarySalary undisclosed
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Job Description

Assurant has an exciting new opportunity to be a part of the fast-growing Private Flood business!

The Senior Private Flood Underwriter will be responsible for profitable growth of private flood business through evaluation, selection, acceptance, rejection, pricing and servicing of commercial flood policies within accepted company risk framework; and is the referral underwriter for large schedule of properties and complex flood risk. Provides coaching and mentoring for Junior Underwriters. Underwriting subject matter expert. Will also assist in prospecting new agencies and strengthen relationship with existing distribution partners.

MAJOR AREAS OF ACCOUNTABILITY

Risk Underwriting

  • Referral underwriter for large commercial properties schedules and complex flood risk.
  • Leverage flood map data, structure specific exposure information, develop PML and loss estimates and use sound judgment in pricing complex and large schedule of properties.
  • Communicate with retail agents/brokers to obtain documentation for underwriting and pricing flood risk.
  • Develop custom solutions that cater to customer needs and the external market environment while maintaining underwriting integrity.

Program Management

  • Monitor key performance metrics for the private flood program (quoting activity, quote to bind ratios, average premium) and recommend specific steps to meet target metrics.
  • Manage new business submission flow. Provide direction to rating and operations group to develop quotes.
  • Train and mentor junior underwriters.
  • Track and audit underwriting decisions made by junior underwriters.
  • Constantly scan private flood insurance market to provide market intelligence. Leverage market intelligence to recommend program changes to make products and program more competitive.
  • Collaborate with sales team, underwriting team, operations team to ensure client service objectives are met.
  • Contribute to underwriting automation efforts. Provide insights on underwriting workflow and rating mechanism to IT team.

Business Development

  • Assist in prospecting new business by developing relationship with sales team and retail agencies.
  • Accompany sales team on agency visits as underwriting subject matter expert. Assist with developing agency specific value proposition.

Risk Management

  • Monitor quality of private flood portfolio, recommend targeted geographic caps and reinsurance buying.
  • Assist internal reinsurance buying team by providing underwriting guidelines, underwriting audits and data to external reinsurance partners.
  • Liaison with exposure modeling, actuarial, data analytics, predictive modeling teams to continuously refine risk selection and pricing.
  • Contribute to evaluation of internal and external datasets to improve risk selection.

BASIC QUALIFICATIONS

  • Bachelor's degree in Insurance, Risk Management, Finance, Economics, Statistics, Engineering, Environmental Sciences, Mathematics or other quantitative fields.
  • 6 years of E&S Property Underwriting, Primary or Commercial Underwriting experience for carrier or Managing General Agent/Managing General Underwriter.
  • Proficient in Microsoft Office products (must have strong Excel knowledge).
  • Excellent oral and written communication skills.

PREFERRED QUALIFICATIONS

  • CPCU, ARM, AU or ARe designation preferred.
  • Technical expertise in commercial risk selection and pricing, especially property.
  • Working knowledge of Surplus Lines Statues.
  • Track record of building relationship with retail agencies.
  • Existing relationships with large commercial producers a plus.
  • Experience analyzing structural integrity of high-rise commercial buildings a plus.
  • Multi-Family Housing and/or Condominium Association underwriting experience a plus.
  • Primary Flood or Excess Flood underwriting experience a plus.
  • ArcGIS or Catastrophe Modeling experience a plus.