Production Underwriter - Workers' Compensation at Encova Insurance in Illinois

Job description

• Encova Insurance has an immediate opening for Production Underwriter, Workers' Compensation for accounts over $75k in premium. This is a remote position that will travel the assigned territory in Illinois to visit agencies in order to develop new and existing relationships. A company vehicle will be provided.
• The salary range for candidates in Illinois is $105,080 - $210,900 annually + bonus + benefits. Pay Type: Salary
• We may hire a senior level depending on candidate qualifications, and the posting is inclusive of the non-senior and senior-level full range.
• This role will report to a Regional Vice President, Commercial Lines.
• If you know a current Encova Insurance associate and would like to apply as a referral, please encourage them to submit your referral information before you submit your application. You will receive an email with a direct URL link to the Job Posting of interest. Applying through this URL link will create your referral relationship for our Talent Acquisition Team.
• Unique residence requirements are listed in each job posting, please review closely for details.
• Encova is only able to employ associates who reside and work within specific U.S. states. Our current policies are based on the laws in states in which we are registered for payroll. Our current footprint includes:
• Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Wisconsin.
• At Encova Insurance, we firmly believe that our associates drive our company's success by delivering unrivaled service to our customers. With success in mind, we make an ongoing effort to provide an environment that offers challenging, stimulating, and financially rewarding opportunities. Join us to discover a work experience where you can learn and grow to your fullest potential.

Responsibilities

• Represent Encova Insurance and functions as the agency manager for assigned agents with a primary focus on commercial lines (e.g., worker’s compensation and/or package lines). Responsible for achieving established premium growth and profitability objectives by reviewing risks, determining acceptability, and successfully writing profitable new business and retaining profitable renewal accounts. Focused on taking action to achieve results that positively impact growth and profitability while ensuring excellent customer service and timely responsiveness to assigned agencies for their commercial lines accounts.
• 1. As agency manager, this role is the liaison between Encova and its appointed agency force. Duties include;
• o Develop and maintain agency relationships through regular visits with agency leadership and production staff, encompassing:
•  Agency growth and profitability with Encova.
•  Agency progress towards Encova profit share program and Leaders’ Conference participation.
•  Encova updates and organizational changes.
• o Facilitate growth between all Encova profit centers and assigned agencies.
• 2. Coordinate agency training when needed and assist agencies with the tools needed to build sustainable, long-term profitable growth with Encova across all profit centers.
• 3. Gather competitive intelligence.
• 4. Stay abreast of current insurance laws and regulations.
• 5. Prospect and qualify new agents for potential appointments.
• 6. Submit written reports as required.
• 7. Attend industry events.
• 8. Determine the acceptability, quality, pricing, profitability and opportunity for new and renewal business.
• 9. Complete thorough risk analysis on designated accounts using appropriate Encova, NCCI, ISO and industry rules, policies, procedures, guidelines, etc.
• 10. Identify, create and initiate new business opportunities within current book of business and assigned agencies.
• 11. Gather and analyze information necessary to make an accurate evaluation of risk.
• 12. Determine appropriate pricing based on risk exposures, risk quality, loss potential and coverage provided.
• 13. Utilize available resources including company underwriting guidelines, business unit strategies, and consultation with others to ensure adequate understanding of risk exposures.
• 14. Prepare and participate in proposals to producers. Negotiate terms and conditions.
• 15. Ensure the proper issuance of policies, certificates, filings and notifications.
• 16. Effectively utilize rules and guidance to ensure proper policy construction.
• 17. Seek the guidance of management on risks exceeding assigned authority levels.
• 18. Identify underwriting issues; recommend and develop plans for problem resolution and implement them where appropriate.
• 19. Manage existing and prospective accounts by actively participating in account renewals, new business presentations and discussion with agents.
• 20. Participate in monitoring and analyzing performance of assigned agents; initiate actions and recognize consequences of alternative actions.
• 21. Account management including coordination of service delivery of various disciplines within the team: claim review, safety and loss services, customized reporting, etc.
• 22. Conduct/coordinate sales and training sessions and orientation of new products, programs, and systems for assigned agents. When requested, lead discussions on new underwriting approaches, coverage enhancements/changes, and underwriting projects.

Requirements

• • Minimum 5 years of progressive commercial lines underwriting experience in package lines and/or worker’s compensation in the Property and Casualty insurance market strongly preferred.
• • Bachelor’s degree preferred, demonstrated significant underwriting experience may substitute.
• • Demonstrated working knowledge of commercial multi-line underwriting, pricing and coverage.
• • Demonstrated knowledge of effective sales/marketing and agency relationship techniques including the ability to partner with independent insurance agents.
• • Preference may be shown for applicants with CPCU and/or ARM designation(s)
• • Demonstrated strong writing skills with an emphasis on marketing.
• • Ability to be creative and entrepreneurial in the approach to sales and marketing initiatives.
• • Ability to effectively manage multiple priorities and tight timelines while meeting established guidelines.
• • High-level interpersonal, communication, analytical, presentation and problem-solving skills.
• • Critical thinking: Ability to assess an individual situation and select applicable rules from an array of options, resulting in the most appropriate and sustainable decision.
• • Thorough knowledge of laws and rules and their application for the assigned territory.
• • Thorough working knowledge of policy and procedures regarding risk administration and risk management; underwriting and loss control.
• • Thorough knowledge of the insurance industry and the business environment in which it operates in order to develop an effective business strategy and remain technically current.
• • Thorough understanding of business exposure calculations, classifications, experience rating or other plan modifications.
• • Ability to develop and implement account, territorial, producer and book strategies to acquire and retain business.
• • Ability to work collaboratively and effectively in a team environment.
• • Ability to initiate, build and maintain effective working relationships and tailor services to meet customer needs.
• • Ability to use sound logic and decision-making skills to identify complex problems, analyze alternatives, then develop and implement effective solutions.
• • Ability to effectively plan and lead meetings: ensure an agenda is created, appropriate materials are ready in advance, the meeting stays on task, the client’s issues are addressed, and follow-up action plans are noted.
• • Ability to present ideas and information to individuals and groups in a clear, concise, influential, organized, and diplomatic manner and address concerns or needs.
• • Proficient in electronic mail system; use of intranet and internet; Microsoft Office products including Excel, Word, PowerPoint.
• • Ability to safely operate a motor vehicle and must hold a valid driver’s license.

Skills

Required

• Interpersonal skills
• Communication skills
• Analytical skills
• Presentation skills
• Problem-solving skills
• Critical thinking
• Collaboration
• Relationship building
• Time management
• Creativity
• Entrepreneurial mindset
• Leadership

Benefits

• In addition to a competitive compensation package, we offer a comprehensive benefits package designed to support the well-being and growth of our associates. Available benefits (subject to any policy or plan changes) include, but are not limited to:
• Health, Dental & Vision Insurance
• Company-provided life and income protection plans
• Eligibility to participate in a company incentive bonus program
• 401(k) Retirement Plan - 100% company match up to 7% on annual salary
• Paid Time Off, Paid Holidays, and Floating Holidays
• Flexible Work Arrangements - Hybrid and remote depending on the role
• We believe that happy, healthy associates are the foundation of great work. Join us and thrive both professionally and personally.
• The salary range for this job posting is $97,153.00 - $194,990.00 annually + bonus + benefits. Pay Type: Salary
• The above represents the full salary range for this job requisition. Ultimately, in determining your pay and job title, we'll consider your location, education, experience, and other job-related factors, and will fall within the stated range. Your recruiter can share more information about the specific salary range during the hiring process.