Underwriter Trainee Jobs in Springfield, MA (NOW HIRING)

Surety Underwriter Sr

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. 

The Company 

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America. 

The Opportunity 

Future focused and always one step ahead! 

The Surety Underwriter Senior will be responsible for the marketing, underwriting, administration, and overall business development of assigned geographic territory in accordance with the company's surety business model to meet projected profitability and expense goals.  You will serve as lead underwriter for assigned region as front line for the commercial surety line of business.  The position supports the Head of Commercial Surety in balancing the needs to achieve budgeted financial results (premium volume, loss ratio, premium collections, and expense management including commissions) through sound underwriting practices to produce profitable results. You will also serve as lead in Book of Business reviews and assist Head of Commercial Surety in portfolio management.

Our value proposition includes embedding significant underwriting authority in the position to create an enhanced customer and broker experience.  We will do this by providing an enhanced level of autonomy in the position to allow our regional offices to better service our agents and clients using an agile and lean approach.

In this position you will:

Key Responsibilities 

• Develop and execute a strategic business plan in order to expand our surety portfolio and will maintain full P/L responsibility for the region
• Establish and maintain key surety broker relationships in compliance with guidelines for new and renewal surety business
• Develop and underwrite a profitable portfolio, coordinate new/renewal business while exercising proper underwriting pricing and discipline in compliance with underwriting guidelines, systems and procedures
• Hire, develop and train other team members in your region Sr. Underwriters, Underwriters, Associates and Trainees as appropriate.
• Collaborate with MRSNA Surety colleagues in order to fully leverage MRSNA Surety capabilities and increase our customer base

Qualifications:

• Bachelor's degree in Business Administration, Economics, Finance, Accounting, or related field
• 10 years or more of progressive experience working with surety products
• Entrepreneurial skill set, excellent marketing, negotiating and communication skills
• Successful track record of developing and maintaining strong relationships with agents/brokers
• Ability to think strategically and function tactically
• Exceptional communication skills that energize and engage brokers, clients and colleagues and the ability to convey a vision and client-focused solutions
• Ability to present and negotiate complex agreements with brokers
• Effective time management and organizational skills
• Willingness to travel up to 40%

The Company is open to considering candidates in numerous locations, including Philadelphia PA, New York NY, Princeton NJ, Hartford CT or Remote. The salary range posted below reflects market variations across various locations.The offer will be adjusted per geography.  The base salary range anticipated for this position is $161,000 - $296,000, plus opportunity for company bonus based upon a percentage of eligible pay.In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).  The salary estimate is adjusted to reflect the varying market conditions across different locations, with the higher end being more aligned with the New York and San Francisco job markets. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range. 

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits: 

• Two options for your health insurance plan (PPO or High Deductible). 

• Prescription drug coverage (included in your health insurance plan). 

• Vision and dental insurance plans. 

• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary. 

• Short and Long Term Disability coverage. 

• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children). 

• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity). 

In addition to the above insurance offerings, our employees also enjoy: 

• A robust 401k plan with up to a 5% employer match 

• A retirement savings plan that is 100% company funded. 

• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries. 

• Eligibility to receive a yearly bonus as a Munich Re employee. 

• A variety of health and wellness programs provided at no cost. 

• Paid time off for eligible family care needs. 

• Tuition assistance and educational achievement bonuses. 

• A corporate matching gifts program that further enhances your charitable donation. 

• Paid time off to volunteer in your community. 

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.  

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.