Employment

LAMMICO Featured Career

Underwriting Specialist
Underwriting Department

Posted: August 12, 2021

Position Summary:
Reviews, evaluates, and maintains larger, complex and/or unusual exposures, particularly those requiring a specific technical area of expertise, for new and renewal medical professional liability policies and other lines of insurance and maintains service standards for assigned territory. Facilitates coordination with counterparts in Marketing, Claims, Finance and Risk Management departments to resolve policyholder issues. Performs complex, technically involved underwriting risk assessment above the senior underwriter level in specified area of expertise.

Reporting Relationship:
Reports directly to the Director of Underwriting

Essential Functions/Responsibilities:

  • Works in a cooperative manner with management, coworkers, customers, and vendors; seeks to support LAMMICO’s mission and vision in daily operations
  • Contributes to the development of the department’s strategic and operating planning and meets assigned target dates and budget goals; helps ensure that department quality, service, and productivity standards are met
  • Answers phone inquiries regarding underwriter level issues and provides consultation and advice to policyholders and applicants; evaluates and refers non-underwriting inquiries to proper department resource
  • Evaluates and underwrites exposures for  individual and group medical professional liability insurance coverages
  • Evaluates and underwrites exposures for hospital & other healthcare facility professional and general liability, and other coverages as available from the company
  • Explains coverage and evaluates medical/non-medical professional liability exposures and other insurance exposures with emphasis on larger, complex and/or unusual risks;
  • Classifies risks and calculates premiums; evaluates acceptability
  • Evaluates requests for changes to existing professional liability policies
  • Performs loss analysis/exposure recognition techniques to evaluate, select and price individual, group and non-traditional medical professional liability risks
  • Researches and prepares new applicant submission and coverage recommendation on larger, complex and/or unusual exposures for presentation to  the monthly Underwriting & Joint Risk Assessment Committee meeting
  • Selects, prepares and presents renewal coverage recommendations to  the Underwriting & Joint Risk Assessment Committee
  • Gives work direction to and works with Underwriters and Assistant Underwriters to process new & renewal policies and subsequent changes; reviews policies and endorsements issued
  • Serves as underwriting expert to support staff and LAMMICO departments for specific underwriting technical area
  • Handles correspondence to and from policyholders; responds to phone and in person inquiries on coverage; provides consultation and advice to insureds; provides consultation and advice to other underwriting personnel on handling and approach to complex or unusual questions and correspondence
  • Researches past due accounts receivable items and reconciles accounting issues, including premium finance issues
  • Reviews and evaluates conflicts with professional liability exposures of managed care and hospital contracts for policyholders
  • Utilizes the data warehouse to extract reports and required information
  • Develops relationships with prospective policyholders, maintains relationships with existing policyholders, including policyholder visits as needed
  • Completes renewal underwriting on group policies, per visit rated policies and healthcare facility policies; issues group renewal quotes to insured groups and facilities
  • Provides service to policyholders in accordance with defined service standards

 

Secondary Functions/Responsibilities:

  • Other responsibilities and special projects as assigned
  • Customer service
  • Assists in training of underwriters and support staff
  • Works with Assistant Underwriter in handling  billing inquiries; processing some payments; explaining and collecting payments from new policyholders
  • Works with other departments in coordinating underwriting and marketing activities
  • Participates in new product development including rate determination, generation of policy form(s) and endorsements and policy system business requirements
  • Represents Company at medical and medical related seminars and conventions
  • Attends and makes presentations/coverage proposals to current and prospective policyholders

 

Education, Experience and Skills Required:

  • Bachelor’s Degree
  • Seven years of prior underwriting experience
  • Experience and/or knowledge in the area of specialty, or in the insurance industry
  • Ability to provide service and deal with demanding customers in a fast paced environment
  • Ability to adapt and learn new procedures
  • Ability to handle multiple tasks in an orderly and timely fashion
  • Ability to access the data warehouse to extract reports and required information
  • Ability to effectively absorb, accept, and drive organizational change
  • Data processing knowledge and experience, including Microsoft Word and Excel
  • Experience with policy quoting, rating and issuance systems
  • Strong customer focus and team orientation
  • Ability to appropriately handle confidential or sensitive company information
  • Commitment to continuing industry and individual functional education
  • Excellent communications skills with the ability to interact and work effectively with employees at all levels within the organization
  • Ability to manage time, set priorities, and work independently; ability to organize, analyze, and interpret information
  • Proficiency in the use of Microsoft Office programs

 

Education, Experience and Skills Desired:

  • Insurance industry experience
  • 2-3 years of experience underwriting medical professional liability risks and 1-2 years of experience underwriting non-medical professional liability and other lines of insurance or the equivalent
  • Experience in underwriting healthcare facility professional and general liability coverage
  • CPCU, RPLU
  • Producer’s license in Property & Casualty Insurance
  • Experience with policy quoting, rating and issuance systems and medical malpractice rating and issuance systems

 

Interested candidates should submit a cover letter and resume. 


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