Job Description
Commercial Renewal Underwriter CIS, Tampa, Florida
Responsibilities
The Commercial Renewal Underwriter contributes to the achievement of customer group (CIS) or specialty goals as well as corporate goals relating to growth, profit, renewal retention, and service and producer/client management. Major responsibilities include:
Risk Assessment: Evaluate and analyze the risk associated with renewing insurance policies, ensuring that Chubb underwriting guidelines and standards are met.
- Policy Review: Review existing policies to assess performance, claims history, and changes in risk profiles to determine appropriate renewal terms and premiums at least 120 days prior to renewal.
- Client Communication: Collaborate with brokers to discuss renewal terms, address inquiries, and negotiate adjustments as necessary.
- Data Analysis: Utilize Chubb data and analytics tools to identify trends and determine the adequacy of pricing and coverage for renewal business.
- Documentation Management: Ensure all underwriting documentation is complete, accurate, and compliant with internal policies and regulatory requirements no more than 60 days after binding.
- Risk Mitigation: Identify potential risks and suggest risk mitigation strategies to enhance underwriting practices and minimize exposure.
- Collaboration: Work closely with other departments, including claims and actuarial teams, to gather insights and feedback that inform renewal decisions.
- Market Research: Stay current with industry trends, market conditions, and competitor offerings to make informed underwriting decisions, ie mindful deployment of limits and attachments.
- Regulatory Compliance: Ensure all renewal processes follow regulatory requirements and company policies, maintaining adherence to legal standards.
- Continuous Improvement: Contribute to the development and enhancement of underwriting processes and policies to improve efficiency and effectiveness.
- Underwriters handle a book of 135 - 140 policies, 8-12 renewals a month.
- Candidates with strong commercial liability background are preferred but not required.
Qualifications
QUALIFICATIONS
- Bachelor’s degree in Business, Finance, Risk Management, or a related field is preferred.
- Minimum of 2-5 years of experience in commercial underwriting, with a focus on renewal processes.
- Strong understanding of commercial lines insurance products, including Property, General Liability, and Workers' Compensation.
- Proven analytical skills, with the ability to assess risks and apply underwriting guidelines effectively.
- Excellent communication and interpersonal skills, with the ability to build and maintain positive relationships with agents and clients.
- Strong organizational skills and attention to detail to manage multiple renewals and meet deadlines effectively.
- Proficient in using underwriting software and risk assessment tools.
- Ability to work independently and collaboratively in a fast-paced team environment.
- Industry designations such as CPCU (Chartered Property Casualty Underwriter) or AU (Associate in Commercial Underwriting) are a plus.
What We Offer
ABOUT US
Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.
