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Preferred Risk Insurance Jobs in Philadelphia, PA

BNY

Senior Specialist, Information Risk

Berwyn, PA · On-site

$94K/yr

Risk and audit experience preferred. * Financial Services experience. * Security certification ... basic life insurance plans for the employee and the employee's eligible dependents. Eligible ...

Heffernan Insurance Brokers

Risk Analyst

Media, PA · On-site

$55K - $70K/yr

You will be exposed to the world of commercial insurance and risk management. We provide a ... Knowledge of insurance industry practices and regulations preferred. * Superior communication ...

Heffernan Insurance Brokers

Risk Analyst

Media, PA · On-site

$55K - $70K/yr

We are looking for motivated, detail oriented people for our Risk Analyst position ... Knowledge of insurance industry practices and regulations preferred. * Superior communication ...

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How much do preferred risk insurance jobs pay per hour?

As of Jun 5, 2026, the average hourly pay for preferred risk insurance in Philadelphia, PA is $30.61, according to ZipRecruiter salary data. Most workers in this role earn between $19.66 and $39.04 per hour, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive as a Preferred Risk Insurance Underwriter, and why are they important?

To thrive as a Preferred Risk Insurance Underwriter, you need a solid understanding of risk assessment, insurance policies, and underwriting principles, typically supported by a bachelor's degree in finance, business, or a related field. Familiarity with underwriting software, industry databases, and insurance regulations is crucial, and professional certifications like CPCU or AU are often preferred. Strong analytical thinking, attention to detail, and effective communication are vital soft skills for evaluating applications and collaborating with agents or clients. These skills ensure accurate risk evaluation, profitable decision-making, and regulatory compliance within the insurance industry.

What are some common challenges faced by professionals working in Preferred Risk Insurance, and how can they effectively address them?

Professionals in Preferred Risk Insurance often face the challenge of accurately assessing and underwriting applicants who fall within favorable risk categories, while ensuring compliance with regulatory standards. Balancing competitive pricing with profitability is another key challenge, as is staying updated on evolving risk factors and industry trends. To address these issues, it's important to maintain strong analytical skills, foster clear communication with underwriting and sales teams, and regularly participate in training sessions or industry seminars. Collaboration with actuaries and claims specialists is also essential to ensure consistent risk evaluation and policy management.

What is Preferred Risk Insurance?

Preferred Risk Insurance refers to insurance policies offered to individuals or businesses that are considered low risk by insurance companies. These policyholders typically have a favorable claims history, good credit, and other positive risk factors, which can result in lower premiums and better coverage options. Preferred risk categories exist in various types of insurance, including auto, home, and life insurance, and are used by insurers to reward responsible customers. Being classified as a preferred risk can help you save money and access more comprehensive insurance products.

What is the difference between Preferred Risk Insurance vs Commercial Insurance Agent?

AspectPreferred Risk InsuranceCommercial Insurance Agent
CredentialsLicenses required, often with specific state certificationsSame licenses, may require additional certifications for commercial policies
Work EnvironmentPrimarily office-based, handling personal insurance policiesOffice and client meetings, handling business and commercial policies
Industry UsageUsed by insurance companies to classify low-risk clientsUsed by agents to sell various insurance products, including commercial policies

Preferred Risk Insurance typically refers to clients or policies with lower risk profiles, often handled by agents specializing in personal insurance. Commercial Insurance Agents focus on selling policies for businesses, which usually involve higher risks. While both roles require licensing and industry knowledge, Preferred Risk Insurance emphasizes low-risk personal policies, whereas Commercial Insurance Agents deal with business-related coverage.

What are popular job titles related to Preferred Risk Insurance jobs in Philadelphia, PA? For Preferred Risk Insurance jobs in Philadelphia, PA, the most frequently searched job titles are:
What job categories do people searching Preferred Risk Insurance jobs in Philadelphia, PA look for? The top searched job categories for Preferred Risk Insurance jobs in Philadelphia, PA are:
What cities near Philadelphia, PA are hiring for Preferred Risk Insurance jobs? Cities near Philadelphia, PA with the most Preferred Risk Insurance job openings:
Preferred Risk Insurance jobs near you
Manager, Risk & Insurance

Manager, Risk & Insurance

West Pharmaceutical Services

Exton, PA • Hybrid

Other

Posted 19 days ago

West Pharmaceutical Services rating

8.4

Company rating: 8.4 out of 10

Based on 31 frontline employees who took The Breakroom Quiz

15th of 109 rated packaging manufacturers

Job description

This is a hybrid position requiring the team member to be onsite a minimum of 3 days per week. No relocation is provided for this opportunity

Who We Are:

At West, we're a dedicated team that is connected by a purpose to improve patient lives that has been at the center of our Company for more than a century. Our story began when Herman O. West solved the problem of supplying penicillin in mass quantities to the US Government during World War 2. Through our work to deliver thousands of life-saving and life-enhancing injectable medicines to millions of patients daily, West's indelible mark on the healthcare industry has just begun. A name started our story. How will yours help write our future?  

There's no better place to join an inclusive community of professionals with opportunities for lifelong learning, growth and development. Supported by benefit programs, we empower the physical, mental, emotional and financial health of our team members and their families.  

We believe in giving back to help those in need in the communities where we live and work. And are equally committed to creating a healthier environment and planet through our sustainability efforts.  

Job Summary
In this role, you will work closely with the Director, Global Risk and Insurance to support West commercial insurance strategies worldwide. Role requires active participation in all phases of property/casualty insurance placements, including identifying potential loss exposures and analyzing appropriate risk finance techniques for management response. Responsibilities will involve marketing and placement of designated insurance policies, as well as providing ongoing oversight and support for financial and claims administration duties as may be required.
Essential Duties and Responsibilities
  • Understand and promote Corporate objectives and functional insurance/risk management requirements.
  • Maintain strong working relationships with internal (Finance, Law, Procurement, Engineering, Operations and Quality representatives on the Corporate and local levels) and external (insurance brokers, underwriters, consultants, customers, vendors, and suppliers) clients. Maintain working knowledge of the global property/casualty insurance marketplace.
  • Support property/casualty insurance negotiations from compiling exposure data and preparing submissions through final placement; requirements include support document verification and ongoing maintenance support.
  • Coordinate internal engineering recommendations and construction updates through WPS' commercial property program; support internal workflow review protocols for carrier response.
  • Monitor compliance with carrier underwriting requirements; coordinate resources and preliminary responses for approval.
  • Assist with claims management and reporting.
  • Review loss runs; identify costs/benefits of insurable v. retained risks, participate in claim reviews and strategy sessions with senior management. Prepare monthly/quarterly loss reports for Corporate review as requested.
  • Process internal invoice requisitions and billing documents for supervisory approval. Review invoice statements for accuracy and address billing issues to final resolution.
  • Generate property & casualty certificates of insurance requests upon request.
  • Work closely with Director, Global Risk and Insurance to build a professional development plan for technical proficiency. Successfully complete continuing education assignments as assigned.
Education
  • Bachelor's Degree in Business, Risk Management or related field required
Work Experience
  • Minimum of 5 years of relevant experience in corporate insurance role or with insurance broker or carrier, excellent data and analytical skills, experience in managing global policies, handling of insurance claims, and strong leadership skills required.
Preferred Knowledge, Skills and Abilities
  • Proficient in MS Office including PowerPoint, Word, Excel, and Outlook.
  • SAP experience is a plus.
  • Strong data and analytics skills.
  • Able to be aware of all relevant standard operating procedures as per Company policy as they are related to the position covered by this Job Description
  • Support and contribute to Lean Sigma programs and activities towards delivery of the set target
  • Able to comply with the company's safety policy at all times
  • Able to comply with the company's quality policy at all times.
  • Highly organized and excellent communication skills; able to establish rapport with diverse personalities; responsive to people's needs; demonstrates initiative and commitment to quality. #LI-NJ1 #LI-Hybrid
License and Certifications
  • Maintain PA Producer license for property/casualty lines of insurance required
  • CIC/CRM/ARM designations preferred.
Travel Requirements
None: No travel required
Physical Requirements
Sedentary-Exerting up to 10lbs/4kgs of force occasionally, and/or negligible amount of force frequently or constantly to lift, carry, push, pull, or otherwise move objects, including the human body. Sedentary work involves sitting most of the time.

West is an equal opportunity employer and we value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sex, gender identity, sexual orientation, age, marital status, veteran status, or disability status.  If you have a special need that requires accommodation in order to apply to West, please send an email to Apply.Accommodation@westpharma.com.  Where permitted by law, an offer of employment with West Pharmaceutical Services, or any of its subsidiary or affiliate companies, is contingent upon the satisfactory completion of background screening and/or a pre-employment drug screening.

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