Job Summary: We are seeking a highly motivated and experienced Commercial Underwriter specializing in Business Owners Protection (BOP) to join our team. The successful candidate will demonstrate expertise in underwriting policies, assessing risks, and providing tailored insurance solutions to our clients. The position will be based in New England and will require a thorough understanding of the local market and industry trends.
- Conduct thorough reviews and analysis of business owners' insurance applications to determine eligibility and risk assessment for Business Owners Protection (BOP) policies.
- Assess the financial stability, operations, and risk profile of potential clients to ensure alignment with underwriting guidelines and standards.
- Collaborate with agents and brokers to gather necessary information and documentation for the underwriting process, ensuring accuracy and completeness.
- Evaluate existing policies for renewals and recommend appropriate adjustments or modifications based on changes in business circumstances or risk factors.
- Communicate effectively with internal stakeholders and external partners to clarify underwriting decisions, policy terms, and conditions.
- Provide exceptional customer service by promptly responding to inquiries and providing guidance to agents, brokers, and clients regarding policy inquiries, coverage options, and underwriting criteria.
- Stay informed about industry trends, regulatory changes, and emerging risks in the New England market to adapt underwriting strategies and guidelines accordingly.
- Collaborate with the underwriting team to continuously improve underwriting processes, streamline workflows, and enhance efficiency in policy issuance.
- Minimum of 2 years of experience as an underwriter for an insurance carrier, with a specialization in Business Owners Protection (BOP).
- Strong understanding of insurance principles, underwriting guidelines, and risk assessment practices specific to Business Owners Protection (BOP).
- Knowledge of insurance laws and regulations in the New England region.
- Excellent analytical, problem-solving, and decision-making skills.
- Effective communication and interpersonal skills to collaborate with internal and external stakeholders.
- Detail-oriented with the ability to manage multiple tasks and priorities simultaneously.
- Professional demeanor and a commitment to providing exceptional customer service.
- Bachelor's degree in Business, Finance, Insurance, or a related field is preferred.