Territory Underwriter

As a Territory Underwriter at Berkley Industrial Comp, you will be responsible for underwriting new business and renewal risks within your designated geographic region. You’ll manage a book of business between $15 and $20 million, focusing on building strong relationships with agencies. Your role will also include achieving profitability goals and ensuring compliance with insurance regulations, all while representing the company’s values and commitment to exceptional service.

To be considered for the Territory Underwriter position at Berkley Industrial Comp, candidates should possess a Bachelor’s degree and have at least five years of experience in workers' compensation underwriting, particularly in high hazard industries. Preferred qualifications include professional designations like CPCU, CIC, or AU and a strong background in Microsoft Office applications, specifically Word and Excel.

Yes, the Territory Underwriter role at Berkley Industrial Comp requires some travel, approximately up to 25% of the time. You will be expected to visit agencies in your assigned territory to foster relationships and support business development efforts. This travel aspect adds an exciting dynamic to the job, allowing you to engage with partners directly.

Success as a Territory Underwriter at Berkley Industrial Comp largely relies on strong interpersonal and analytical skills, along with exceptional communication abilities. Candidates should be self-motivated and results-oriented, with adept negotiation skills. The ability to manage various personalities and work collaboratively, all while remaining calm under pressure, is key to thriving within this role.

The work environment for the Territory Underwriter at Berkley Industrial Comp is a blend of flexibility and collaboration. The position allows for remote work, providing autonomy, while still emphasizing the importance of team engagement. You will connect with internal teams and agency partners, ensuring a dynamic and supportive workplace culture centered around high standards of service.

When approaching risk assessment in underwriting, I first analyze the individual characteristics of a potential client, assessing factors such as industry type, history of claims, and overall financial stability. I then apply a thorough understanding of underwriting guidelines to make informed decisions, ensuring that the risks align with the company’s appetite while also meeting profitability goals.

In my previous roles, I have focused extensively on high hazard industries, such as construction and heavy manufacturing. I have gained a nuanced understanding of the risks involved and how to effectively evaluate and manage them. My background has enabled me to make strategic underwriting decisions that enhance profitability while ensuring compliance with regulatory standards.

Building relationships with agencies requires a proactive approach. I prioritize open communication and ensure I understand their needs and challenges. Regular visits and engagement through point-of-sale presentations help establish trust, alongside providing timely support and responsiveness to their inquiries. Being available and reliable strengthens these partnerships.

In high-pressure situations, I remain calm and prioritize tasks based on urgency and importance. I rely on my analytical skills to quickly assess the situation and make informed decisions. I also communicate openly with my team or agency partners to ensure that they are updated and any necessary adjustments can be made collaboratively.

I stay updated on changes in regulatory requirements by subscribing to industry newsletters, participating in webinars, and attending relevant conferences. Additionally, I am an active member of professional organizations, which helps me connect with peers and share insights on best practices and legal updates that impact underwriting processes.

Technology plays a significant role in my underwriting process by providing tools for data analysis and performance tracking. I utilize internal software systems to streamline the underwriting workflow, maintain accurate records, and analyze trends in book performance. This efficiency enables me to make data-driven decisions that benefit our clients and our agency relationships.

At my previous job, I identified a bottleneck in our renewal process that delayed responses to agents. By collaborating with our IT department, we revamped the software to streamline documentation processes, resulting in a 30% reduction in turnaround time. This initiative improved agency satisfaction and helped maintain strong relationships.

To ensure profitability while managing risks, I take a balanced approach that involves careful risk selection and pricing strategies. I continuously analyze claims history and market trends to adjust rates accordingly, remaining competitive without sacrificing profitability. Engaging regularly with agencies helps gather insights that inform better underwriting decisions.

My negotiation style is collaborative and transparent. I believe in creating win-win situations, where all parties feel valued and respected. I start by understanding the other side's needs and concerns and work towards finding mutually beneficial solutions while staying aligned with our underwriting guidelines.

I am motivated by the challenge of balancing risk and profitability in underwriting. The opportunity to develop strong partnerships with agencies and contribute to the overall success of the company also drives my passion. I take pride in providing exceptional service and supporting our clients in navigating their insurance needs effectively.