Verus - Underwriting Trainee - Casualty or Professional Liability

Company: W.R. Berkley Corporation
Location: Scottsdale
Posted on: November 26, 2022

Job Description:

Company Details



Verus Specialty Insurance is an Excess and Surplus Lines provider writing business countrywide. Verus Specialty Insurance operates through a group of wholesale producers nationwide. Additionally, our policyholders can be reassured that their insurance investment is sound, as we are backed by the resources of a Fortune 500 company, W.R. Berkley Corporation. Successful candidates will exhibit strategic thinking, creativity, and pragmatic execution to drive results.



Responsibilities



Under close supervision, learns underwriting practices by participating in formal or on-the-job training. Developing a working knowledge of product language, underwriting practices, policies and guidelines.



Industry/Practice/Knowledge



* Demonstrates broad knowledge of the business, the marketplace and company goals, objectives and performance measures through the effective delivery of all products and services.

* Links line of business policies and practices to company strategies.

* Demonstrates broad overview of the company operations.

* Identifies and acts on opportunities to share knowledge with clients and customers.

* Networks with peers and outside resources to exchange ideas and information.



Product Skills



* Demonstrates forms and coverage knowledge and applies them to exposure.

* Compares company coverages to competitors and differentiates our company from others.

* Identifies new product opportunities.

* Demonstrates a basic knowledge of the business issues and rate, growth and profit objectives.

* Explains company service capability and applies to specific client needs, including coordination of standard service delivery to customers.



Book Management/Pricing Skills



* Applies standard pricing to exposures.

* Deviates when appropriate and in compliance with line of business pricing strategies.

* Applies individual loss and expense factors, when applicable.

* Utilizes internal information systems to measure results.

* Demonstrates understanding of expected break-even L/R and how their individual book compares to those standards.

* Communicates and implements line of business U/W strategy to achieve profitability.

* Analyzes and evaluates impact of producer performance on assigned book.

* Applies key expense components, influencing controllable elements according to plans and strategies.

* Identifies and evaluates influence of competitor strategies in local territory or line of business and its effects on the company's business.



Consulting



* Provides expertise and advice in support of overall business objectives.

* Provides appropriate input for written premium and expense budget planning.

* Offers creative solutions that contribute to the achievement of business results.



Risk Selection



* Applies underwriting strategies and standards to pre-qualify risk acceptability.

* Identifies and assesses exposures for each risk.

* Performs detail analysis utilizing appropriate information (exposure/rate/financial & loss) to determine account acceptability, taking customer needs into consideration.

* Accepts, modifies, or rejects based on analysis.

* Assesses rate adequacy relative to exposure.



Client Management



* Identifies clients' needs and recommends solutions.

* Demonstrates basic knowledge of products and appetites.

* Handles or refers as appropriate cross selling opportunities.

* Negotiates standard coverage issues, closes sale, and gauges customer satisfaction.

* Defines/executes tasks as part of client team.

* Identifies and accesses basic underwriting/service resources and associated cost benefit.

* Demonstrates knowledge of competitors products, strategies, strengths, weaknesses, position within agencies/in marketplace, financial picture.

* Develops and pursues prospective clients.

* Follows-up on prospective and incumbent clients' needs.



Qualifications



Verus operates in a fast-paced environment that requires the ability to manage multiple, complex assignments and competing priorities. Candidates must be comfortable working in an ambiguous and dynamic environment.



* Strong oral/written communication skills, displaying a positive attitude.

* Detail-oriented person with initiative and ability to work in fast-paced team environment.

* Excellent communication and interpersonal skills.

* Ability to work independently as well as part of a team.

* Computer literate including use of Word, Excel and various project management tools.

* Flexible and open to change and enhancements to help evolving in a competitive market.

* Adaptive to adjusting priorities and/or work on multiple tasks.

* Strong sense of ownership and accountability as a result of being highly motivated.

* High school diploma or equivalent; college course work or degree preferred.



Additional Company Details



The Company is an equal employment opportunity employer.



Additional Requirements



COVID-19 vaccine required unless prohibited by law. Responsibilities Under close supervision, learns underwriting practices by participating in formal or on-the-job training. Developing a working knowledge of product language, underwriting practices, policies and guidelines. Industry/Practice/Knowledge - Demonstrates broad knowledge of the business, the marketplace and company goals, objectives and performance measures through the effective delivery of all products and services. - Links line of business policies and practices to company strategies. - Demonstrates broad overview of the company operations. - Identifies and acts on opportunities to share knowledge with clients and customers. - Networks with peers and outside resources to exchange ideas and information. Product Skills - Demonstrates forms and coverage knowledge and applies them to exposure. - Compares company coverages to competitors and differentiates our company from others. - Identifies new product opportunities. - Demonstrates a basic knowledge of the business issues and rate, growth and profit objectives. - Explains company service capability and applies to specific client needs, including coordination of standard service delivery to customers. Book Management/Pricing Skills - Applies standard pricing to exposures. - Deviates when appropriate and in compliance with line of business pricing strategies. - Applies individual loss and expense factors, when applicable. - Utilizes internal information systems to measure results. - Demonstrates understanding of expected break-even L/R and how their individual book compares to those standards. - Communicates and implements line of business U/W strategy to achieve profitability. - Analyzes and evaluates impact of producer performance on assigned book. - Applies key expense components, influencing controllable elements according to plans and strategies. - Identifies and evaluates influence of competitor strategies in local territory or line of business and its effects on the company's business. Consulting - Provides expertise and advice in support of overall business objectives. - Provides appropriate input for written premium and expense budget planning. - Offers creative solutions that contribute to the achievement of business results. Risk Selection - Applies underwriting strategies and standards to pre-qualify risk acceptability. - Identifies and assesses exposures for each risk. - Performs detail analysis utilizing appropriate information (exposure/rate/financial & loss) to determine account acceptability, taking customer needs into consideration. - Accepts, modifies, or rejects based on analysis. - Assesses rate adequacy relative to exposure. Client Management - Identifies clients' needs and recommends solutions. - Demonstrates basic knowledge of products and appetites. - Handles or refers as appropriate cross selling opportunities. - Negotiates standard coverage issues, closes sale, and gauges customer satisfaction. - Defines/executes tasks as part of client team. - Identifies and accesses basic underwriting/service resources and associated cost benefit. - Demonstrates knowledge of competitors products, strategies, strengths, weaknesses, position within agencies/in marketplace, financial picture. - Develops and pursues prospective clients. - Follows-up on prospective and incumbent clients' needs.

Keywords: W.R. Berkley Corporation, Scottsdale , Verus - Underwriting Trainee - Casualty or Professional Liability, Other , Scottsdale, Arizona