Senior Underwriting Specialist Technology

Overview

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. Our Technology department is seeking a Senior Underwriting Specialist to join the team in the Northeast. This is a Full-time, Exempt role.

Responsible for identifying, soliciting, underwriting and selling new and/or renewal Middle Market accounts that drive profitable growth and align with Technology appetite and mix goals. Apply technical, sales and analytical skills to provide insurance solutions that help Hanover’s customers manage risk. Demonstrates a thorough understanding of Hanover’s strategies and appetites and will use internal and external data to make appropriate individual and portfolio risk decisions.

Serves as a resource and advisor to core underwriters, helping them understand technology risk appetite and assess liability, professional, and cyber exposures. Operates with limited daily supervision, seeks technical direction for matters outside one’s authority and general expertise. Operates within a standard letter of authority for all underwriting decisions while managing a book of business, generally with moderate to high technical complexity and coordination.

Acts as a mentor to develop team members often acting as a knowledge resource.

• Knows and applies underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and loss analysis.
• Uses all appropriate underwriting tools, disciplines and knowledge of strategies to ensure underwriting guidelines are followed.
• Understands pricing components and rating methodology and correlates pricing to exposure, financial, and competitive analysis.
• When presented with minimal information on a risk, instinctively knows the key questions to ask to ascertain the full scope of operations and the key exposures and needed controls.
• Completes file documentation according to best practices, guidelines and state regulations and can clearly explain account decisions.
• Adheres to CAT guidelines and underwriting discipline to minimize exposure and appropriately price individual risks.
• Provides clear and concise rating instructions for quotes prior to generating proposals for presentation to the agent.
• Able to underwrite and price Technology specialty coverages such as products, professional, and cyber liability with limited guidance.

• Manages assigned portfolio to achieve gross written premium, new business, profitability, rate, retention, and book mix goals.
• Developing an understanding of various financial reporting information and insurance performance measures in the management of risk.
• Reviews key metrics and uncovers trends that may lead to new business opportunities with agents while achieving profitable growth in accordance with business strategies.
• Demonstrates an understanding of the market factors that can affect pricing (i.e. distribution channels, competition, organization’s growth/ profit strategy, regulation, reinsurance costs and branding).
• Prepares or analyzes information on adverse underwriting decisions, rate appeals, underwriting requirements, status and declinations in order to drive results within the assigned territory.

• Can identify, solicit, pipeline, negotiate, and close accounts aligned with Technology and branch strategies. Ability to profile assigned agency plant and to strategically market our capabilities to agents.
• Operates with a franchise perspective to identify and drive enhanced sell opportunities and create growth within other lines of business and customer segments. Utilize our value proposition to enhance agency economics, partner conversion and product specialization in partnership with local management.
• Prioritizes and drives effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment in order to improve yield and retention ratios.
• Keeps…