The Chief Underwriting Officer (CUO) is the senior executive responsible for the underwriting strategy of the Company. Reporting to the President, and working with both Field and Staff functional areas, the CUO designs, implements, and monitors the underwriting activities for all four of the Company’s customer segments: Construction, Specialty Casualty (Manufacturing, Products) and Professional Liability.
Among other responsibilities, the Chief Underwriting Officer oversees:
• New Product Development and product lifecycle maintenance:
• Develop and implement best practices
• Vetting new-product ideas from both internal and external sources
• Underwriting appetite, guidelines, forms, forms usage, terms and conditions, training, and communications
• Underwriting Liaison with IT, Operations, Actuary, Finance, Marketing and Claims
• Implementation, performance monitoring and feedback loop
• Creation and maintenance of Underwriting Guidelines for all customer segments
• Quality and Compliance, including peer reviews, monthly management reviews, coordination of WRBC reviews, and development and implementation of automation support for the underwriting audit process
Referrals – highest-level underwriting authority for all four market segments, exercising sound judgment in risk selection, exposure analysis, pricing and coverage in evaluating and approving or rejecting individual-risk submissions from the field organization
• Training – the CUO will design and implement underwriting training programs to ensure that field underwriting staff perform at the highest skill levels
• Support Vela’s Field Management Team with their risk-selection strategies at both product-line and territorial levels
• Underwriting Analysis of the Programs (Books) - Monitor and analyze underwriting performance and results for desired underwriting outcomes, including heavy collaboration with Finance, Actuarial and IT
• Regulatory Issues - support, and coordinate with, Finance and Operations
• Develop and/or strengthen interdepartmental relationships with:
• Other disciplines
• Other WRBC member companies.
• Monitor and communicate emerging underwriting Issues that are relevant to Vela's current and future planned strategies, programs and processes.
• Leading Change
• Change Management
• Underwriting Culture Change
Self-motivated, organized, strong communicator (written & oral), technically strong, learner/researcher, comfortable in varied groups, project management skills, coaching and knowledge transfer capabilities.