Sr Surety Underwriter
Employment Type: Full-Time
UFG offers you an award-winning workplace and a trustworthy, financially stable company. While we've always known our commitment to employees and financial stewardship, it is good to have others recognize our dedicated efforts. We've been named an Iowa Top Workplace by the Des Moines Register for four consecutive years, and included on Forbes' 'America's Most Trustworthy Financial Companies' every year since 2014. Additionally, UFG is a super-regional property and casualty insurer rated 'A' (Excellent) by A.M. Best Company.
Most important, UFG can offer you a work environment where you can easily see yourself in the big picture from day one. You become part of a successful team that works together to do great things. In addition, we believe in supporting our employees by providing a great benefits plan and allowing our people to develop flexible work hours that align with their personal schedule.
As a senior regional surety underwriter, you'll be the primary relationship manager for surety business within your territory, focused on marketing, managing and underwriting a new and renewal surety book of business through contact with select agencies and brokers.
You'll drive profit and premium to meet financial goals and objectives through development, negotiation and execution of business plans. This includes leading and influencing agencies through the creation of sales strategies and implementation of sales processes and practices that drive new sales, profit and customer retention. Under limited direction, you'll underwrite accounts based on authority level granted to the role and underwriting appetite.
Additionally, you'll be collaborating with all lines of business to support and increase the overall UFG presence in your territory, provide the quality service UFG is known for and promote a positive company image.
With a company focus on long-term growth, an important responsibility of this position will be identifying areas of opportunity and cultivating new and renewal contract surety business.
* Efficiently underwrite new surety submissions. Gather information regarding financial status, credit standing, and organization profit to analyze and determine acceptability of the risk.
* Interaction with professional NASBP member agents as well as other agents who do business with United Fire Group.
* Develop a profitable book of surety business of varying degrees of complexity for assigned territory, taking into consideration the strengths and weaknesses of the producer plant /territory and competitors, divisional objectives and overall market conditions.
* Make prompt, sound decisions within underwriting authority based on appropriate underwriting information consultation.
* Accountable for accurate underwriting documentation/ information in account management systems and adherence to documentation standards.
* Negotiate terms and conditions consistent with market segment requirements and standards within submission timeframe.
* Attend selected industry events that provide interactions with producers and/or potential accounts.
* Responsibility for building and maintaining effective business relationships with internal and external customers/coworkers in order to attract and retain profitable business.
* Travel is required with frequent overnight stays; up to 20 to 25% of time will be traveling. Must have a valid driver's license.
* Perform special projects as assigned.
* 7+ years of experience in contract surety underwriting.
* Four year college degree is required; majors in Accounting, Business Administration, Finance or Economics are preferred.
* Must demonstrate the strong analytical skills needed to evaluate new submissions for acceptability within company underwriting parameters.
* Experienced in new market development; ability to prospect, appoint and manage producer relationships to achieve production and profitability objectives.
* Solid following of existing broker and agency relationships within the assigned geographic region.
* Independently exhibit initiative with strong focus on results.
* Proficient in: risk evaluation, contract knowledge, common sense judgment, and the ability to see the big picture.
* Strong communication (written and verbal), influencing, negotiating, listening, and interpersonal skills to effectively develop/maintain productive internal and external relationships.
* Be actively engaged in additional industry and professional development and designations (AFSB, CPCU, MBA, etc.). Additional classes and training may be required.