Underwriting Specialist - Inland Marine
Mitsui Sumitomo Marine Management (U.S.A.), Inc. | Los Angeles, California | 7/13/2018
Mitsui Sumitomo Insurance Group (MSIG) is one of the world’s top ten property/casualty insurance carriers with over 38,000 employees worldwide. MSIG insures large multinational and domestic companies, and offers comprehensive global insurance programs. Our US subsidiary, Mitsui Sumitomo Marine Management (MSMM), currently has an opportunity available for an Underwriting Specialist (Inland Marine), located in our Los Angeles office.
Summary: The underwriting specialist is responsible to produce, underwrite and service profitable Inland Marine business in accordance with all department guidelines. Assumes a leadership role in the organization to positively influence staff and promote a positive image of MSIG in the marketplace. Develops and maintains producer relationships and builds a profitable book of business.
Essential Functions:
Produces, underwrites and service complex Inland Marine risks within delegated underwriting authority, including construction, transportation and other classes of commercial Inland Marine business as authorized.
Profitability & Underwriting Quality: (50%)
• Apply appropriate account selection, coverage, risk management, aggregate management, reinsurance and pricing techniques according to department guidelines to achieve target profitability for all new, renewal and endorsement activity within the assigned book of business.
• Maintain underwriting files and systems in accordance with department guidelines.
• Ensure aggregate management and risk management activities are appropriate to the risk, in line with department guidelines, and that systems reflect current and accurate data for assigned accounts per department guidelines.
• Monitor underwriting results, loss trends and market developments with for assigned business and producers within assigned territory.
• Implement best practices in account management throughout the underwriting cycle, including coordination with other internal business units as appropriate.
Volume & Marketing: (40%)
• Maintain existing accounts and develop new sources of business in line with department risk appetite and guidelines to achieve targeted volume.
• Establish and maintain effective producer and client relationships within assigned territory.
• Coordinate activities with other internal business units as appropriate.
• Provide timely and best in class professional service to our customers.
• Promote a positive impression of MSIG to producers, insureds and within the marketplace in general.
Training & Development: (10%)
• Enhance technical expertise through continuing education opportunities as appropriate and available.
• Assist in training, mentoring and development of other department staff.
Supervisory Responsibilities:
This position has no supervisory responsibilities.
Education and Experience Required:
• High School degree is required. Bachelor’s degree or equivalent business experience preferable. CPCU/ insurance designations encouraged.
• 5+ years of relevant underwriting experience with demonstrated productivity, profitability and business acumen.
• Strong knowledge and technical expertise of relevant risks including exposures, forms, coverages, pricing methods, aggregate management, reinsurance and account management.
• Demonstrated market presence with the ability to form lasting producer relationships and in depth knowledge of production sources and market capabilities within the assigned territory and product lines.
• Strong portfolio management, organization, negotiation and time management skills with an understanding of the company’s business objectives.
• Demonstrated ability to work effectively within teams across multiple disciplines and support activities.
Other Qualifications Required:
• Excellent verbal and written communication skills
• Effective computer and software skills, including Microsoft products Word, Excel and Outlook.
• Ability to travel as required within the assigned territory (up to 20%).
Competencies: To perform the job successfully, an individual should demonstrate the following:
Core Competencies: Communication, Customer Focus & Teamwork
Job Specific Competencies: Technical Expertise, Oral and Written Communication Skills, Problem Solving, Negotiation Skills
JOB OVERVIEW
Pay
Industry
Category
Career Level
Competitive salary, benefits, and 401K!
Underwriting
Experienced (Non-Manager)
Mitsui Sumitomo Marine Management (U.S.A.), Inc. (“MSMM”) is a United States subsidiary of MS & AD Insurance Group Holdings, Inc., one of the world’s top property/casualty insurance carriers with over 38,000 employees in more than 39 countries & regions worldwide.
MSMM manages the business affairs of three U.S. commercial property/casualty insurance companies: Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance USA Inc. and Aioi Nissay Dowa Insurance Company of America, all rated A+ (Superior) by A.M. Best Company (for the latest rating, access www.ambest.com).
MSMM specializes in providing commercial property and casualty insurance products and related services to customers throughout the U.S.
In joining MSMM, you are becoming part of a worldwide team dedicated to:
- Making a lasting contribution to the enrichment of society by bringing security and safety to people and businesses around the world through the sale and servicing of its insurance products;
- Realizing customer satisfaction by working to provide the finest products and services to consistently meet our clients’ growing needs; and
- Meeting our shareholders’ expectations and strengthening their trust in us by continuously improving our business.
We value each employee’s unique set of skills and contributions and believe that each employee plays an important role in the success of MSMM.
MSIG refers to the MS&AD Insurance Group insurers underwriting coverage: Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance USA Inc. and Aioi Nissay Dowa Insurance Company of America. MS&AD Insurance Group, 15 Independence Boulevard, Warren, P.O. Box 4602, New Jersey 07059-0602.
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