Marine Underwriter

For more than 170 years, The Hanover has been committed to delivering on our promises and being there when it matters the most. We live our values every day, demonstrating we CARE through our values, Sustainability initiatives and inclusive corporate culture.

This role is the first formal underwriting level within Inland Marine underwriting. With significant oversight and guidance, and within limited underwriting authority, responsible for applying underwriting concepts to evaluate and bind new and/or renewal accounts. With support from the local team, partners with agencies to produce profitable business focusing on quality production, balancing rate and retention dynamics, and achieving service and quality standards.

Demonstrates an emerging understanding of Hanover’s strategies and appetites. Manages assigned book of business, generally with low to moderate technical complexity and coordination.

• Identify sources of information and resources to understand and stay informed on trends and practices within and outside of the industry.
• Develop understanding and applies sensible judgment on when to garner additional expertise or support in decision making.
• Demonstrate ability to make sound underwriting decisions based on available information, utilization of resources, and review with others.
• Understand and can articulate business line and Specialty business strategy and executes in accordance.
• Develop and strengthen agency relationships and core sales capabilities through application of learned sales techniques while developing an understanding of proper portfolio management.

• Build familiarity and expertise in all underwriting systems needed to inform underwriting practices.
• Apply underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis.
• Demonstrate understanding of exposures and risk and begins to correlate to our appetite to make sound underwriting decisions.
• Develop an understanding of what measures of profitability are used within own business area.
• Adhere to CAT guidelines and underwriting discipline to minimize exposure and appropriately price individual risks.
• Develop an understanding of the market factors that can affect pricing and can explain why these impact the pricing decision and how it correlates to exposure.

• Develop a solid understanding of business appetite and pipeline practices to ensure a steady stream of targeted business opportunities.
• Manage assigned portfolio to achieve gross written premium, profitability, rate, retention, product mix, new business and portfolio management goals.
• Develop financial acumen to understand various profit levers (e.g., loss ratio by line of business, combined ratio, etc.).
• Begin to develop ability to analyze underwriting and financial data and impact management of risk.
• Develop an understanding of the market factors that can affect pricing and can explain why this impacts the pricing decision and how it correlates to exposure.
• Familiarize oneself with other Hanover departments for leveraging growth in areas of business where portfolio could be more balanced.

• Develop a solid understanding of market appetite and pipeline best practices to ensure a steady stream of targeted business opportunities.
• In partnership with local team, begin to develop agency relationships within assigned book.
• Demonstrate an understanding of the issues and concerns which affect both internal and external customers and stakeholders and apply that knowledge to develop and maintain positive relationships.
• Develop negotiation and professional influencing capabilities. Begin to proactively anticipate objections and develop effective responses.
• Travel with local team to meet with agents on underwriting matters which include but are not limited to: marketing THG capabilities, evaluating pricing, and discussions regarding new and renewal business.
• Participate in and eventually lead sales presentations with external agency partners.

• Bachelor’s Degree or equivalent work experience,…