Healthcare - Specialty Underwriter Trainee

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, ESG initiatives and IDE journey.
Our Healthcare team is seeking a Renewal Underwriter Trainee to join its collaborative, dynamic and growing Allied Healthcare team.
At the Hanover we also understand that life and the workplace have changed so we are reimagining the workplace and provide flexible work arrangements. This role may be fully remote.
The Hanover is a diverse and inclusive organization focused on hiring the best talent and we encourage all qualified professionals to apply. We believe that an inclusive, diverse, and equitable workplace make us a better organization and creates a stronger community.
We encourage all qualified applicants to apply.
POSITION OVERVIEW:
Trainee level and entry position for Specialty Underwriting career path. Through a structured program, obtains fundamental knowledge and skills to launch a career in Property & Casualty or Professional Lines underwriting. With successful achievement of learning and development objectives, earns Underwriting Letter of Authority and begins operating with high degree of coaching and supervision, and guidance. May begin to handle small accounts if appropriate.
The actual job title and level may be flexible dependent on candidate qualifications and experience (Underwriter Specialty).
This is a Full-time, Exempt role.
IN THIS ROLE YOU WILL:

• Demonstrate ability to apply sensible judgment within daily responsibilities (e.g., evaluating risks, need for added input or support, general decision making).
• Gain exposure to and basic proper utilization of underwriting systems
• Build understanding of the Hanover structure and Specialty strategies
• Successfully demonstrates readiness to assume new or renewal UW review.
• Successful achievement of learning and development milestones as defined by Trainee program guidelines.
• Develop understanding of how own role fits into the overall business, internally and externally.

Technical Underwriting:

• Begins to build knowledge of the renewal workflow including systems, processes, tools, and guidelines.
• Gain exposure to and basic utilization of underwriting systems.
• Starts to develop an understanding of why different rates are applied to different types of risks and the factors that can affect the premium rate for an individual risk.
• Independently handles less complex renewal accounts within defined authority levels. Makes recommendations on risk selection, coverage, pricing and managing of sales proposals with oversight.
• Understands and begins to apply the Hanover approach to underwriting assessment.
• Demonstrates an understanding of the significance of the claim’s loss ratio for the pricing of a risk.
• Develop basic understanding and the purpose of coverages provide by and features of the business line and can interpret policy provisions.

Portfolio Management & Financial Acumen:

• Begins to develop ability to analyze underwriting and financial data and interpret the data “story”.
• Demonstrates an awareness of the data that indicates how an underwriting portfolio is performing.
• Familiarization with implications of building, maintaining, and analyzing an underwriting portfolio and agency portfolio with regards to profitability and diversity in coverage.

Sales Management:

• Understands the Hanover Value Proposition and is able to articulate it to others (internally or externally).
• Understands pipelining concepts and Hanover practices and guidelines. Can articulate why this process is critical to Specialty underwriting success.
• Understands the partnership strategy and sales process.
• Knows the importance of positive customer experiences in developing good relationships.

WHAT YOU NEED TO APPLY:

• Proficiency in using computer applications, including MS Office and internet research
• Generally, less than 1 year underwriting experience or 2-3 years financial services experience.
• Prioritization and Desk Management: understands work flows and processes and applies to work prioritization. Clarity around deadlines and work priorities and seeks support if they are at risk of being compromised.
• Team Work and Collaboration: Demonstrated experience working within and across teams. Understands and appreciates the power of working together to achieve targeted outcomes.
• Communication - strong communication skills written and verbal. Effectively communicates ideas, questions, or concerns in one-on-one situations. Understands and articulately answers questions when asked. Practices active listening. Provides excellent customer service.
• Bachelor’s Degree or equivalent work experience.
• Agile and Adaptive: Ability to adapt to new situations quickly and prioritize tasks and responsibilities.
• Judgment and Decision Making – beginning to apply technical knowledge to inform decision making. Understand decision making processes and procedures and the role they play within them. Applies critical thinking to decision making. Demonstrates ability to apply judgment within their daily responsibilities (e.g., evaluating risks, need for added input or support, general decision making).
• Exceptional planning and organizational skills; Highly detail oriented.

CAREER DEVELOPMENT:
It’s not just a job, it’s a career, and we are here to support you every step of the way. We want you to be successful and fulfilled. Through on-the-job experiences, personalized coaching and our robust learning and development programs, we encourage you – at every level – to grow and develop.
BENEFITS:
We offer comprehensive benefits to help you be healthy, build financial security, and balance work and home life. At The Hanover, you’ll enjoy what you do and have the support you need to succeed.
Benefits include:

• Medical, dental, vision, life, and disability insurance
• Tuition reimbursement
• Click here for the full list of Benefits
• PTO
• Cultural Awareness Day in support of IDE
• Company paid holidays
• 401K with a company match
• Flexible work arrangements
• On-site medical/wellness center (Worcester only)

EEO statement:
The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.
Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.”
As an equal opportunity employer, Hanover does not discriminate against qualified individuals with disabilities. Individuals with disabilities who wish to request a reasonable accommodation to participate in the job application or interview process, or to perform essential job functions, should contact us at: [email protected] and include the link of the job posting in which you are interested.
Privacy Policy:
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