Commercial Insurance Underwriter Senior- (P&C Small Business Insurance)
Company: USAA
Location: Colorado Springs
Posted on: October 3, 2024
Job Description:
Why USAA?Why USAA
Let's do something that really matters.
At USAA, we have an important mission: facilitating the financial
security of millions of U.S. military members and their families.
Not all of our employees served in our nation's military, but we
all share in the mission to give back to those who did. We're
working as one to build a great experience and make a real impact
for our members.
We believe in our core values of honesty, integrity, loyalty, and
service. They're what guides everything we do - from how we treat
our members to how we treat each other. Come be a part of what
makes us so special!The OpportunityAs a Commercial Insurance
Underwriter Senior, you will be responsible for contributing to the
development of commercial insurance underwriting appetites and
manages existing portfolios of business based on an analysis of
profitability, member demand, and market opportunity. - Develops,
implements, and manages commercial insurance underwriting processes
and programs to ensure all underwriting processes are compliant,
executed in a cost-efficient manner and effective in achieving
desired outcomes. - Develops and implements Commercial Insurance
Underwriting policies and processes to achieve business
deliverables. Compiles, analyzes, and interprets data to make
strategic and tactical recommendations or decisions pertaining to
appetite performance and profitability. - Partners with internal
stakeholders to maintain Commercial Insurance Underwriting policies
and procedures while ensuring compliance with state regulations.
Manages projects and/or process improvement initiatives.We offer a
flexible work environment that requires an individual to be in the
office 4 days per week out of any of our regional offices to
include: San Antonio, TX, Phoenix, AZ, Colorado Springs, CO, Tampa,
FL, Plano, TX, Charlotte, NC, and Chesapeake, VA office. Relocation
assistance is not available for this position.What you'll do:
- Supports the development, launch, and management of
underwriting appetite, criteria, and best practices.
- Reviews and monitors the underwriting performance of portfolios
and books of business in scope (e.g., trends, results, etc.).
- Conducts moderately complex analysis of internal and external
data along with member information to support the formulation of
the commercial insurance underwriting appetite and criteria
strategies and solutions.
- Applies advanced knowledge of contract coverages, underwriting
programs, market data, state-specific, and other regulatory
information to make underwriting decisions related to commercial
insurance operations and/or transactions.
- Evaluates risk and makes underwriting determination for
commercial lines of business within established guidelines and
limits of authority.
- Performs large loss reviews related to losses with high loss
payouts and coordinate with claims partners and underwriting
leadership to analyze the outcome(s) and any gaps or adjustments
needed.
- Researches underwriting trends, market intelligence, resources,
and processes.
- Leads the development and implementation of business
guidelines, controls, and strategies consistent with company policy
and goals.
- Effectively owns and manages multiple underwriting processes
and/or experiences and leverages data to make data-driven
recommendations independently.
- Key contributor in developing underwriting educational
programs/tools, training/mentoring, and/or communications for the
delivery to internal and external audiences to include leadership
across the enterprise.
- Serves as a resource to team members on escalated issues of a
complex nature.
- Serves as a resource to new underwriters, including delivering
training, auditing work, and reporting progress to management.
- Provides direction and share knowledge with other employees who
manage underwriting programs, guidelines, and processes.
- Independently gathers and analyzes data to proactively evaluate
and recommend changes to or establish a point of view on the
Underwriting appetite for product acceptability.
- Contributes to the development of underwriting educational
programs/tools, training/mentoring messages, and/or communications
for the delivery to internal and external audiences.
- Identifies the effectiveness of current policies and processes
by establishing best practices and the appropriate review cadence
to address gaps.
- Coordinates with relevant control partners (to include Legal,
Compliance, and Risk Management) to ensure underwriting appetites
and guidelines are designed, implemented, and managed in compliance
with all applicable laws and regulations.
- Ensures risks associated with business activities are
effectively identified, measured, monitored, and controlled in
accordance with risk and compliance policies and procedures.What
you'll have:
- Bachelor's degree: OR 4 years of related experience (in
addition to the minimum years of experience required) may be
substituted in lieu of degree.
- 6 years of insurance underwriting experience, with at least 4
years in commercial insurance underwriting.
- Experience executing and/or defining underwriting processes,
procedures, and/or guidelines.
- Experience applying & editing policy forms, notices, &
procedures.
- Advanced knowledge of relevant industry practices, trends, and
regulatory requirements.
- Experience in presenting analysis and findings to varying
levels of management and business stakeholders to gain support for
recommendations and influence initiatives.
- Advanced proficiency in Microsoft Office suite.What sets you
apart:
- At least 4 years of direct underwriting experience in
Commercial Lines Property & Casualty business.
- Direct experience underwriting Small Business insurance to
small or "micro" businesses.
- Experience interpreting & explaining complex underwriting
concepts, with experience explaining to diverse audiences which
possess varying levels of subject matter expertise.
- US military experience through military service or a military
spouse/domestic partner.The above description reflects the details
considered necessary to describe the principal functions of the job
and should not be construed as a detailed description of all the
work requirements that may be performed in the job.What we
offer:Compensation: USAA has an effective process for assessing
market data and establishing ranges to ensure we remain
competitive. You are paid within the salary range based on your
experience and market data of the position. The actual salary for
this role may vary by location. The salary range for this position
is: $81,770-$156,290.Employees may be eligible for pay incentives
based on overall corporate and individual performance and at the
discretion of the USAA Board of Directors.Benefits: At USAA our
employees enjoy best-in-class benefits to support their physical,
financial, and emotional wellness. These benefits include
comprehensive medical, dental and vision plans, 401(k), pension,
life insurance, parental benefits, adoption assistance, paid time
off program with paid holidays plus 16 paid volunteer hours, and
various wellness programs. Additionally, our career path planning
and continuing education assists employees with their professional
goals.For more details on our outstanding benefits, please visit
our benefits page on USAAjobs.com.Applications for this position
are accepted on an ongoing basis, this posting will remain open
until the position is filled. Thus, interested candidates are
encouraged to apply the same day they view this posting. -USAA is
an Equal Opportunity Employer. All qualified applicants will
receive consideration for employment without regard to race, color,
religion, sex, sexual orientation, gender identity, national
origin, disability, or status as a protected veteran.
Keywords: USAA, Lakewood , Commercial Insurance Underwriter Senior- (P&C Small Business Insurance), Other , Colorado Springs, Colorado
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