at Westfield Group dba Ohio Farmers Insurance Co in Chicago, Illinois, United States
Job Description
We are seeking an Underwriting Trainee to join our E&O/ Cyber Liability team based in the Chicago, IL office. Westfield Specialty's Underwriting Training Program (UTP) provides an entry level opportunity for individuals with the drive to become successful members of our underwriting team. While working within the structure of a formalized training program, trainees will learn underwriting practices by participating in formal as well as on-the-job training. Developing a working knowledge of product language, underwriting practices, policies and guidelines. Upon successful completion of the training, underwriting trainees will continue to work with their team to understand Westfield Specialty's Underwriting process and perform basic underwriting functions in a market-facing or product underwriting role.
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 forms and coverage knowledge and applies them to exposure.
Compares company coverages to competitors and differentiates our company from others.
Identifies new product opportunities.
Book Management/Pricing Skills
Manage assigned territory so that items such as renewals, endorsements (if applicable), claim reviews and related transactions are completed accurately within accepted company timelines.
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.
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.
Bachelor's Degree- recent college graduates or soon to be graduates preferred
Strong oral/written communication skills
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.
Adaptive to adjusting priorities and/or work on multiple tasks.
Strong sense of ownership and accountability as a result of being highly motivated.
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