Specialist, Contract Underwriting - E&S/S (Portfolio Underwriting & Optimization)

If you’re passionate about helping people protect what matters most to them at a Fortune 100 company with nearly $70 billion in annual sales, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers and partners are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

Portfolio Underwriting & Optimization is a specialized department within the Contract Property & Casualty underwriting organization. The PUO team is responsible for driving profitable growth through strategic book management by applying technical underwriting expertise and various data driven analysis with the goal to identify and deliver underwriting actions that align with business strategy.

General responsibilities for a PUO underwriter include the following:

• Management/assisting of assigned LOB/segment and identifies, coordinates, and delivers on product, appetite, and pricing optimization changes to the portfolio
• Ensuring rate strategy implementation and execution for assigned LOB/segment
• Utilize data tools, reporting and external resources and publications to identify trends and make recommendations to improve profitability
• Collaborate with underwriting and agency partners to solicit feedback on new product and program opportunities
• Collaborate with Product and technology partners to drive successful implementation of product enhancements in underwriting systems and ensure system behavior supports underwriting intent
• Collaborate with Product on the design and development of new forms and standalone product/program offerings
• Provide recommendations for future audits based on existing portfolio trends or retrospective portfolio reviews
• Participate in claims roundtables, agency visits/agency calls to proactively identify, research and solution for trends/opportunities in assigned segment(s)
• Attending industry conferences and events
• Assist/manage Alternative Distribution book as needed.
• The candidate for this role should have 6 years related experience or 5 years as an Underwriter and should have prior experience in Commercial P&C Excess & Surplus lines underwriting with:
• Commercial E&S P&C underwriting and product knowledge
• Ability to identify, manage and solution for trends within a book of business
• Understanding of underwriting operations and underwriting systems
• Familiarity with ISO and other industry resources
• Data analysis and identifying an impact on book performance
• Manage projects and prioritize multiple tasks under tight deadlines
• Be a self-starter who takes initiative to improve quality, processes, and communication
• Be a proficient communicator and have the skills and ability to explain a complex concept to a broad audience
• Effective in managing ambiguity with the ability to operate under limited direction
• Have strong rapport with other departments and collaborate with them on project work
• Accountable for performance of subset/segment of larger vertical
• *This role does not qualify for employer-sponsored work authorization. Nationwide does not participate in the Stem OPT Extension program.*
• Job Description Summary

Are you a critical thinker who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both your analytical and creative abilities to make sound decisions and have a desire to help people solve real challenges, we want to hear from you!

Our Excess & Surplus/Specialty (E&S/S) lines allow us to provide insurance that other carriers may not offer. It’s a fast-paced environment in a collaborative, team-oriented culture, working in an always-changing, growing industry.

As an Underwriting Specialist in Contract you determine individual risk acceptability, pricing, coverage, terms and conditions, by developing, analyzing and evaluating information and exposures on risks of a complex technical nature for the assigned line of business. In addition, you’ll achieve production and loss ratio goals with assigned general agents or program managers by reviewing and analyzing claims, loss history and taking appropriate action on accounts.

General agent assignments are more complex in terms of coverage and general agent relationships. It’s important to establish and maintain effective relationships with general agents to generate premium dollars and profitability. You will work independently with a high level of authority and judgment. Determining appropriate reinsurance placement, if any, on individual accounts is an important element of this role. We will count on you to foster positive business relationships with co-workers, general agents and reinsurers.

You will also assist with research, development and presentation of new products, forms and manuals and have opportunities to assist in the training and mentoring of Underwriters and Underwriting Assistants.

Job Description

Key Responsibilities:

• Reviews individual risks with assigned agents or programs within assigned territory and either declines or accepts business based upon information necessary to make the decision.  The underwriter analyzes, with a high level of technical expertise, exposures to loss, develops an adequate premium charge for the exposure and determines appropriate endorsements and exclusions to address loss exposures for the insurance contract. Within department guidelines, places reinsurance, if any, for the account.
• Achieves individual production and loss ratio goals within assigned territory through sound territory management and marketing. Achieves production, profitability and service objectives. Quotes, prices and underwrites new and renewal policies and endorsements, primarily for complex or service sensitive accounts. Monitors risk selection and pricing decisions for entire agency plant, both on a book of business and individual account level basis. Works with more complex issues concerning coverage, programs, agents and program managers. The underwriter continually analyzes premium and loss results in their territory or assigned agents by agency, state, major class of business and by program. Continually assess quality of submissions and makes corrective action recommendations. Development and implementation of specific action plans may be required
• Handles policy maintenance items and other mid-term requests. Reviews endorsement requests and processes necessary changes to the policy. Reviews loss control reports and makes recommendations to the agent and/or changes to the policy. Follows up on outstanding information as required. Reviews claim activity and takes appropriate action. May review agency books of business as well as profit/growth results and trends to recommend and implement action plans.
• Fosters positive business relationships with general agents through daily contact with assigned agents by developing and maintaining good rapport and resolving agency conflicts.  Travels to agency offices as required for audits, training or marketing visits. Entertains agents visiting the Company as required. Assists with development of marketing ideas and strategies for underwriting seminars and other marketing campaigns.
• Places reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaty semiautomatic and facultative reinsurance. Maintains good working relationship with reinsurers.
• Markets Nationwide products and services to help drive agency and company results, including all enterprise products that may enhance offerings. Assists agency with strategies for pipeline management, producer development and to develop new business in targeted industries and preferred markets. Responds effectively to assess accounts and develop business propositions that win the business.
• Other responsibilities as assigned may include program research and development, form development, rate development, technical assistance to Agents, Underwriting Assistants, and other Underwriters. Proactively develops technical and business knowledge through internal and external venues