Commercial Insurance Underwriter - Midwest Region (REMOTE)
Foresight Commercial Insurance
Foresight Risk and Insurance Services, Inc. ("Foresight") is looking for a Commercial Insurance Underwriter with construction experience based on the East Coast. We are seeking all levels of Underwriters (Associate Underwriters, Underwriter, Senior Underwriters & Executive Underwriters) and title and compensation will be defined according to your experience. You will be responsible for maintaining our portfolio of commercial clients and underwriting new and renewal business with guidance from the VP, Underwriting. This person must be based in the Midwest region (or the surrounding area).
In this role you will be responsible for achieving growth and profit objectives by appropriate risk selection, book management, business development and agency management. The ideal candidate has a proven background in underwriting, agency relations and has the ability to develop strong, long-lasting client relationships. This person will be responsible for Underwriting, along with agency management. This role may travel up to 25% of the time for agency management/business development responsibilities.
Far too many workers in high-risk industries are injured on the job, or worse, never make it home to their families at all. Foresight sees a future where workplace injuries are a thing of the past. We accomplish this through our two visionary brands: Foresight Insurance and Safesite.
As the insurer of the future, our workers’ compensation insurance brings real-time safety engagement technology and dedicated safety coaching together to turn insight into action, driving down business costs and reducing claims. Powered by our proprietary Safesite technology, we blend a custom-tailored safety program with dedicated consulting services, improving client safety behavior and helping eliminate accidents and claims. In a 2022 study, we demonstrated a capability to reduce claims frequency for clients by 18% in just the first year. Deploying the latest technologies into the field and capturing critical safety and risk data from the frontline workers, we link safety performance to insurance and pricing—informing our underwriters’ ability to provide a holistic and competitive quote to our brokers and clients.
Foresight is backed by strong global investors and completed an impressive Series B raise in 2022, bringing funds raised to $59 Million. Safesite’s innovative Safesite Score is patented. We consistently rank on numerous global top Insurtech lists.
About our Culture
Our team of bright, energized, and motivated people come from a vast array of backgrounds and industries. They are drawn to Foresight by our purpose, our fresh approach to work/home balance and wellness, and by our commitment to our values: Simplicity, Tenacity, Comradery, Aim Higher, Home Safe, and Be Agile.
Our ideal candidates are dynamic self-starters with a sense of teamwork, a commitment to moving the insurance and safety industry forward, and an appreciation for the work and industries our clients dedicate themselves to.
- Underwriting and agency relations support including risk selection, coverage evaluation, pricing, valuation, and hazard identification for accounts in the assigned territory.
- Maintain our portfolio of commercial clients ensuring each client receives the highest level of customer support and service.
- Execute and properly document UW criteria for all accounts to ensure compliance requirements are met.
- Perform underwriting reviews on renewals by reviewing operations and exposures, loss experience, loss control reports and pricing.
- Oversee operations support for assigned policy servicing requests as needed (endorsement, audits, certificates, premium finance notices and cancellations).
- Assist in the verification of client information and the production, analysis, and quoting of new and renewal business.
- Partner with the Broker Relations Team to manage producers and ensure new business pipelines generate a steady stream of business opportunities.
- Manage the production, profitability and relationships with established agencies in assigned territory.
- Develop and execute annual success and territory plans and monitor agency performance in partnership with the VP, Broker Relations.
- Evaluate new business submissions, providing technical expertise regarding underwriting acceptability and philosophy, procedures, coverage interpretations, and policy and endorsement provisions.
- Responsible for profit, growth, pricing, underwriting quality and meeting service standards.
- Monitor market conditions, develop competitive intelligence and make recommendations regarding new and/or existing products, programs, risk appetite and services.
- Demonstrate understanding of risk exposure, classifications, and price for exposure.
- Provide client education ensuring our clients understand our product features and technology.
- Refer viable risks outside authority once pre-underwritten demonstrating sound judgment, decision making and file documentation.
- Possess knowledge of forms, coverage, rating plans, manuals and company position papers.
- Maintain department service standards and respond to producer needs.
- Ensure that new and renewal business fits Company strategy and that the underwriting process and procedures are aligned.
- 5 years minimum experience underwriting workers compensation.
- 7 years minimum experience within the insurance industry
- Bachelor's Degree in a related field or equivalent relevant UW experience
- Sales and/or marketing experience within the work comp or P&C insurance industry preferred.
- Experience interpreting and analyzing insurance policies.
- Must have knowledge of commercial multi-line underwriting and rating.
- Excellent verbal and written communication skills.
- Ability to establish and grow business relationships
- Workers Compensation experience is a must.
- Must live in the Midwest Region
- Industry-leading career development opportunities
- Competitive salary
- Generous paid time off including 14 paid holidays, personal days and paid sick leave
- Medical, dental, and vision insurance
- Monthly wellness stipend
- Home office equipment provided to create a comfortable and productive work set up
- Learning and development stipend to use on courses, conferences, or other upskilling opportunities
- Paid parental leave
As a fully remote company, the compensation range provided is based on a wide range of factors including, but not limited to, skill sets, experience, and other business and organizational needs and is based on national averages*. We are seeking all levels of Underwriters (Associate Underwriters, Underwriter, Senior Underwriters & Executive Underwriters) and title and compensation will be defined according to your experience. At Foresight it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is $80,000 - $130,000 + bonus + equity.
*Location will be considered if the role is required to be located in a certain geographic area