Joliet, IL

Overview

The Specialty Risk Senior Underwriter is responsible for the evaluation, analysis, pricing and servicing of various warranty offerings using accepted Company procedures, standards and guidelines that have been established for various industries and product categories.

Responsibilities

• Understanding of extended warranties (service contracts), GAP, debt cancellation, credit default and other similar insurance-related programs related to one or more of the following products: automotive vehicles, household electronics, appliances and systems, construction and agricultural equipment.
• Having an in-depth knowledge of the products on which assigned warranty programs are being developed and services that are required for product repairs;
• Having knowledge of product service programs and the costs associated with parts and labor for completion of repair services;
• Conducting periodic reviews of existing extended warranty business to ensure that the programs are desirable from an Underwriting viewpoint and providing the required profitability. Reviews and revises pricing and coverage to ensure that the premiums being charged and the reserves are commensurate with the program’s exposure.
• Provides actuarial team with the appropriate information for in-depth rating of those projects defined by Management.
• Reviews Service Terms and Conditions to ensure that the contractual provisions are consistent with those services that have been priced and approved for the requested program.
• Establish guidelines, procedures and rate approval for Special Quotes or Large Programs/National Accounts.
• Discusses new opportunities with Company Sales Representatives and potential/existing clients to understand the risk at hand; suggests additional questions to be posed to potential/existing clients to better define the programs such that Underwriting can design and rate the program according to its risk and customer requirements.
  

Qualifications

• 3 + Years’ Experience in Special Risk/Warranty
• College degree or extensive experience in the Service and Warranty industry having superior knowledge in Service Contracts.
• Adequate knowledge of Microsoft Office Applications; having expertise in Microsoft excel is necessary.
• Having knowledge of SAS or SQL is a plus
• Strong analytical ability and organizational skills
• Willingness to travel 2 days per month
  

This job description is designed to provide a general overview of the requirements of the job and does not entail a comprehensive listing of all activities, duties, or responsibilities that will be required in this position. AmTrust has the right to revise this job description at any time.

What We Offer

AmTrust Financial Services offers a competitive compensation package and excellent career advancement opportunities. Our benefits include: Medical & Dental Plans, Life Insurance, including eligible spouses & children, Health Care Flexible Spending, Dependent Care, 401k Savings Plans, Paid Time Off.

AmTrust strives to create a diverse and inclusive culture where thoughts and ideas of all employees are appreciated and respected. This concept encompasses but is not limited to human differences with regard to race, ethnicity, gender, sexual orientation, culture, religion or disabilities.

AmTrust values excellence and recognizes that by embracing the diverse backgrounds, skills, and perspectives of its workforce, it will sustain a competitive advantage and remain an employer of choice. Diversity is a business imperative, enabling us to attract, retain and develop the best talent available. We see diversity as more than just policies and practices. It is an integral part of who we are as a company, how we operate and how we see our future.