Production UnderwriterUnderwriting/Reinsurance, Other Careers Job ID 2023-13946 Primary Location: Bellevue, Washington 11/18/2023 Hiring Range: USD $85,800.00/Yr. - USD $123,300.00/Yr.
More information about this job:
AFM is looking for a Production Underwriter I to join the Seattle Office. This is a unique opportunity to be part of and help maintain and grow a dynamic AFM office. This is an extremely important position because the AFM Production Underwriter is responsible for both new business production and renewal retention while maintaining underwriting profit and protecting the company’s assets.
The Production Underwriter I must effectively market AFM products and services to a network of producers with whom long term relationships are developed, maintained, and cultivated. The AFM production underwriter I is responsible for profitable risk selection, negotiation of pricing, terms, and conditions, and using creative underwriting strategies to optimize net retentions that effectively balance both customer and company needs. The Production Underwriter is responsible to coordinate account team resources to provide excellent and responsive services that add value to our broker and customer relationships.
The Production Underwriter I works closely with Account Engineers to review renewal and new business opportunities to ensure proper risk identification, analysis, and assessment in order to ensure the development and growth of a profitable portfolio of business in the Seattle territory. AFM Production Underwriters primary relationships are with Brokers and reinsurers for insurance-related issues.
Responsibilities include meeting specific profit, production, and retention goals as developed in consultation with Regional and Area manager. Multiple business contacts must be established, and an effective program of calls must be executed averaging 8-10 face-to-face visits a month to ensure high visibility.
New risks must be pre-qualified based on acceptability today and its future potential. This includes a thorough analysis of the broker submission, desired pricing, terms and conditions, financial condition, adequacy of reported values, and loss experience.
The company’s assets must be protected by adhering to company underwriting standards and procedures. This will include determining the amount subject and net capacity commitment, in addition to checking cross liability, managing catastrophe aggregate retentions, negotiating, and purchasing reinsurance and establishing commissions in a manner most advantageous to the company.
- This position requires someone with a bachelor’s degree or equivalent.
- 2-5 Years industry experience (broker/insurance company) as Underwriter for commercial property accounts of varying occupancies and sizes.
- Candidate must also have experience dealing with a variety of occupancies as well as current engineering and underwriting issues such as current property coverages and forms, and/or quickly learn and keep updated on industry state of the art.
- Additionally, this person will be proficient in and have excellent organizational, time management, problem solving, decision making, interpersonal and selling skills and a working knowledge of MS Office products.
The hiring range for this position is $85,800 to $123,300. The final salary offer will vary based on geographic location, individual education, skills, and experience. The position is eligible to participate in FM Global’s comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.
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