Job Description

Pharmacists Mutual has an opening for a Commercial Insurance Underwriter I in our Algona, IA office or our Austin, TX office. This role will work closely with field representatives and agents to secure data and underwrite all risks for new and renewal business. Responsible for reviewing, evaluating, and pricing business by applying sound underwriting judgment and adhering to Company guidelines and state regulations within established authority. 

Commercial Underwriting Associate

• Contacts field representatives, agencies, and members to obtain underwriting information.
• Underwrites and processes endorsements, renewals and new business as assigned.
• Collects and reviews data to ensure completeness of submissions to underwriter.

Commercial Underwriter I

• Learns insurance principles and practices by determining policy terms and calculating premiums on the basis of the risk.
• Assists agents, field representatives and member services with comments or questions about new business and renewals.
• Underwrites a defined book of commercial business with a team mentor.

Commercial Underwriter II

• Demonstrates quality underwriting on a defined book of commercial business.
• Has obtained sufficient knowledge of insurance principles and practices.
• Has enhanced knowledge of company niche markets as well as proven ability to handle the increased authority required for this position.
• Actively searches for personal and professional growth opportunities.

Commercial Underwriter III

• Demonstrates high level of insurance knowledge while underwriting a complex book of commercial business.
• Capable of serving as a subject matter expert for company niche markets. (i.e. pharmacy or dental professional)
• Actively participates in corporate and team goals.
• Takes initiative to drive positive change in the Company.
• Ability to serve as trainer, mentor, and coach for underwriting peers.
• Encourages team work and assists other underwriters to meet deadlines and service agreements when necessary.

Senior Commercial Underwriter

• Demonstrates superior insurance knowledge in relation to Company niche markets and will underwrite high level accounts.
• Demonstrates strong decision making, critical thinking, and analytical skills.
• Subject matter expert and leader for commercial underwriting.
• Exhibits strong presentation skills.
• Ensures Company success by consistently developing processes to improve efficiencies.
• Ability to serve as mentor and trainer to all underwriters.
• Works closely with management in the monitoring of performance initiatives.
• Actively participates in product development and guideline additions/revisions.
• Possesses strong negotiating and underwriting strategy skills that can be used to obtain commitment from field representatives and agents in a way that promotes mutual goals.

 Essential Functions

Essential functions may include, but are not limited to the following:    

• Ensure proper rating for acceptable exposures for new and renewal business.
• Provide quality customer service.
• Effective documentation supporting conversations and decisions.
• Timely decision making and action to meet Company guidelines and goals.
• Attend and participate in appropriate meetings.
• Consistently reviews workflows and makes suggestions for efficiency improvements.
• Identify accounts that meet reinsurance requirements.
• Identify and address appropriate risk management action.
• Follow and meet performance expectations determined by the manager.
• Work within team to ensure that all underwriting tasks are being completed in a timely manner.
• Promptly answer telephone and e-mail inquiries.
• Maintain files in accordance with company standards.

Knowledge, Skills and Abilities

• Thorough knowledge of principles and practices of commercial insurance underwriting.
• Possess negotiation skills and analytical thinking, with the ability to explain decisions to others.
• Knowledge to ask necessary follow-up questions.
• Possesses critical thinking skills and sound judgment in underwriting decisions.
• Maintain records; prepare reports/correspondence related to the work.
• Ability to interpret and apply laws, rules and regulations.
• Analyze complex issues and make critical decisions.
• Read, interpret and input data efficiently and accurately.
• Communicate and work effectively with others (oral and written).
• Follow oral and written directions.
• Correct English usage, spelling, grammar, vocabulary and punctuation.
• Determines when and how to escalate concerns to the appropriate level of management.
• Contribute effectively to the accomplishment of team or work unit goals, objectives and activities.
• Establish and maintain effective working relationships with those contacted in the course of work.
• Ability to provide effective customer service.
• Ability to organize and prioritize work.
• Work independently and use initiative.
• Ability to handle multiple tasks at once.
• Meet definite deadlines and deal with pressure situations.
• Ability to deal with confidential information.
• Utilize computer and related software effectively.
• Knowledge of management information and business systems such as Word, Excel, PowerPoint etc.

Experience and Education Qualifications

Commercial Underwriting Associate

• High School Diploma or equivalent and 5 years of related experience; or
• Associate's Degree or equivalent and 3 years of related experience; or
• Bachelor's Degree

Commercial Underwriter I

• High School Diploma or equivalent and 5 years of related experience; or
• Associate's Degree or equivalent and 3 years of related experience; or
• Bachelor's Degree

Commercial Underwriter II

• High School Diploma or equivalent and 7 years of related experience; or
• Associate's Degree or equivalent and 5 years of related experience with at least 2 years in insurance; or
• Bachelor's Degree and 3 years of related experience; or
• Master's Degree

Commercial Underwriter III

• High School Diploma or equivalent and 10 years of related experience; or
• Associate's Degree or equivalent and 8 years of related experience; and
• One of the following industry related certifications: Chartered Property Casualty Underwriter (CPCU), Associate in Commercial Underwriting (AU), or Associates in Commercial Underwriting-Management

OR 

• Bachelor's Degree and 5 years of related experience; or
• Master's Degree with 2 years of related experience

Senior Commercial Underwriter

• High School Diploma or equivalent and 10 years of related experience; or
• Associate's Degree or equivalent and 8 years of related experience; and
• One of the following industry related certifications: Chartered Property Casualty Underwriter (CPCU) or Certified Insurance Counselor (CIC)

OR 

• Bachelor's Degree and 5 years of related experience; or
• Master's Degree with 2 years of related experience

Special Requirements, Licenses and Certificates

Commercial Underwriting Associate, I, and II

• Successful completion of a qualified insurance course within 90 days of hire   

Preferred Qualifications

Commercial Underwriter III

• Successful completion of a qualified insurance designation

Senior Commercial Underwriter

• Successful completion of CPCU or CIC designation