Underwriter Trainee - Environmental

This is your opportunity to join AXIS Capital – a trusted global provider of specialty lines insurance and reinsurance.  We stand apart for our outstanding client service, intelligent risk taking and superior risk adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture.  As a member of AXIS, you join a team that is among the best in the industry.

At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work. 

All qualified applicants will receive consideration for employment without regard to any protected characteristic, including age, color, disability, ethnicity, gender identity, marital status, national origin, pregnancy, race, religion, sex, sexual orientation, veteran status, or any basis prohibited by the laws that govern its operations.

Underwriter Trainee - Environmental 

The Underwriter Trainee position is central to an effort designed to provide the company with successfully trained underwriters, with relevant experience to assume future underwriting positions.  Trainees are expected to develop critical underwriting skills, through independent and on-the-job training.  Trainees will be expected to observe and work with underwriters, actuaries, and claim representatives to become familiar with the functions of these positions and how they interact and work with each other. The candidates will be required to establish, support, and maintain effective relationships with peers, customers, and brokers.  It is anticipated that the Underwriter Trainee will progress through the 3 levels of the Trainee program, culminating in eligibility for an underwriter position.

Key Duties & Responsibilities:

Responsibilities will include analyses of potential and existing customers by gathering and reviewing information on the companies’ financial condition, loss and exposure history, and other relevant information to determine underwriting acceptability. Duties will also entail assessing economic or climatic trends and geographic acceptability of the risks and other important criteria that may affect the type of insurance coverage provided and premiums ultimately charged.  Under moderate supervision, Trainees will assess risk, and sets rates & coverage levels.  To be eligible for an underwriter role, the Trainee will have demonstrated the following:

Level I

• Understand Axis’ financial strength rating and its standing among its peer group
• Fully understand the assigned business unit risk appetite including the type of risks targeted and segments of business that are desirable and those that are not.
• Accurately assign AICS codes to submissions through the study of the unit’s underwriting rules and guidelines.
• Develop a working knowledge of the unit’s minimum premiums, attachment points and commission levels.
• Review and develop a working knowledge of the unit’s forms and basic endorsements.
• Understand how insurance rates are developed and how loss and combined ratios are determined.
• Understand the impact of rate changes on loss ratios.
• Develop a working knowledge of the underwriting process from initial submission through the life cycle of the customer interaction.
• Understand how information is utilized in underwriting decisions.
• Participate in the unit’s Peer Reviews
• Complete rotational assignment (1 to 2 weeks) into one adjoining UW group and 1 support unit (Claims and Actuarial)
• Complete 1 CPCU (or other manager approved) classes/exams.

Level II

• Review new and renewal submissions for acceptability of risk, opportunity for Axis and completeness of information
• Gather additional information via the internet or other sources as needed or request additional information from brokers or claims department.
• Pull AXIS loss runs and review external loss runs for acceptability
• Fully complete underwriting analysis worksheets (operations, exposures, financial history, loss history etc.)
• Perform the appropriate rating (if needed) to support the pricing of the risk.
• Determine the appropriate price and attachment point of the risk.
• Prepare and present risk for Peer Review
• Update account information and analysis worksheet based on recommendations from peer review process
• Present draft quote to underwriter for acceptability and formal quote.
• Prepare binder and provide to underwriter for approval and issuance
• Accompany underwriters and participate in broker meetings
• Review endorsement requests for acceptability and provide written recommendation or rejection of the request to underwriter for approval
• Review loss control reports and recommendations and detail the appropriate areas of concern for final review by underwriters
• Review policies for accuracy and approval or advise discrepancies.
• Complete rotational assignments (1-2 weeks) into 2 support units
• Complete 1 CPCU (or other manager approved) classes/exams.

Level III

• Prepare detailed analysis of risks for Peer Review
• May contact broker to obtain additional required information
• Sets appropriate premium rates and coverage
• Present risks to appropriate individual or team for Peer Review
• Issue Quotes to brokers on new and renewal business per underwriter direction
• Review and approve endorsement requests and calculate any associated premiums.
• Review audit worksheets and calculate final premium audits.
• Participate in marketing (with underwriters) the company’s products and services through Axis’ approved broker network.

Required Education/Training & Experience:

• A Bachelor’s degree in Risk Management and Insurance, Business Administration, Finance and Accounting, Economics, Marketing, or Liberal Arts or, an equivalent combination of education and experience
• Excellent written and verbal communication skills
• Demonstrated analytical skills and business acumen
• Proficiency in Microsoft Office suite applications (Outlook, Word, Excel, and PowerPoint)
• Mobility to relocate may be required ---relocation assistance provided by AXIS

Other desired skills and characteristics:

• High energy self-starter, good decision-maker with an entrepreneurial spirit
• Marketing and sales skills and interest
• Solid time management skills
• Excellent negotiation and interpersonal skills
• Team player

This posting is for an existing vacancy.