Pay Philosophy
The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.
Description
The Underwriting Specialist/Consultant Excess Casualty develops, grows, and maintains a profitable, diversified book of excess casualty business through effective underwriting decision making, mutually beneficial agent/brokers relationships, expert underwriting judgement and deal orientation.
The focus of this position is a balance of both extensive marketing and expert underwriting with attention to underwriting detail. The production goals will have a greater emphasis on excess casualty with some supported lead umbrella. The successful candidate should have well established national and large regional broker relationships in Chicago, the State of Illinois, and select surrounding states.
The Candidate must be comfortable with and adept at understanding organizational alignment and business potential within key brokers, target account identification and strategies, and superior communication skills both in substance and finesse. A professional polished presence is expected. In addition, collaboration with and problem solving with primary risk management will be needed in order to support joint new business wins and successful renewal retentions. Participates in Client meetings both virtual and in-person.
This position has potential for significant executive level development and career pathing for the right individual, up to and including potential for management at our flagship Chicago hub.
This is considered a hybrid role in our posted office location.
Underwriting Specialist: $109,700 - $140,700. Annual FTO days (Flexible Time Off): 20 days
Underwriting Consultant: $123,500 - $160,300 Annual FTO days (Flexible Time Off): 20 days
Underwriting Consultant ll: $140,000 - $183,300 Annual FTO days (Flexible Time Off): 20 days
Responsibilities: Risk Selection: evaluates or assesses the business applying for insurance by qualifying accounts; identifying, selecting and assessing risks; determining the premium, policy terms and conditions; obtaining approvals; creating/presenting the proposal to the agent/broker and successfully negotiating deals. Risk Selection is paramount in addition to setting appropriate attachment, capacity deployment, etc. Agent/Broker Relationships: Demonstrates a high level of responsiveness and focus on supporting Agents and Brokers objectives through successful negotiations. Develops and maintains the relationship through responsive service, site visits, in person renewal meetings or enhanced knowledge of their customers businesses. Manages broker relationship through extensive use of Salesforce.com to create broker plans, account target, track pipeline and collaborate with other Liberty Mutual segments. Portfolio Management: Manages a sizable and complex book of business by analyzing the portfolio, identifying areas of opportunity for improved growth, profit and diversification, and executing marketing plans to increase market share with preferred brokers. Documenting the Deal: Documents files in a way that reflects a solid thought process and decision making through comprehensive account reviews, sign-off and referrals. Leadership: Demonstrates an area of expertise and provides regular updates to other underwriters. Continuous Improvement: Actively participates in continuous improvement by fully engaging in weekly huddles, generating suggestions, following appropriate procedures and work principles, participating in problem solving activities, and using continuous improvement tools to support the work of the team. Qualifications
Qualifications
Advanced-level knowledge of insurance products/coverage, market segments and marketplace; insurance finance and actuarial concepts; marketing/selling techniques, regulatory environment and reinsurance; advanced-level knowledge of underwriting, pricing, risk selection, territory management.
Ability to apply underwriting/appetite, tools, systems, and resources to achieve goals, solve complex problems, establish and build healthy working relationships, lead mentoring relationships, and negotiate, as normally acquired and a related bachelor's degree, eight to ten years of commercial lines underwriting experience preferred; CPCU or professional insurance designation preferred, but not required.
About Us
At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That's why we provide an environment focused on openness, inclusion, trust and respect. Here, you'll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession.
Liberty Mutual has proudly been recognized as a "Great Place to Work" by Great Place to Work® US for the past several years. We were also selected as one of the "100 Best Places to Work in IT" on IDG's Insider Pro and Computerworld's 2020 list. For many years running, we have been named by Forbes as one of America's Best Employers for Women and one of America's Best Employers for New Graduates as well as one of America's Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: https://jobs.libertymutualgroup.com/diversity-inclusion
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.