College Development Program for Future Leaders
Commercial Lines Underwriter Trainee
The first step in a career path that offers an opportunity for years of professional growth and development.
What does this program offer you?
The Commercial Underwriter Training Program offers a distinct career path at The Hanover, a leading property and casualty insurance company. It begins with the underwriter trainee and assignment in a branch office, and offers opportunities for a successful career, including leadership possibilities.
The program’s 6- to 12-month training and development plan provides a mix of on-the-job and classroom training, mentoring and individual study. The trainee’s first 6 to 8 months are spent learning on-the-job with an assignment in one of the company’s regional hub locations. The final months of training are conducted in their assigned branch office. Trainees also travel to the company’s home office in Worcester, Mass. for a total of four weeks of enhanced training.
What do Commercial Lines underwriters do?
An underwriter has one of the most important jobs in an insurance company. In Commercial Lines, underwriters examine business owners’ applications for insurance products, whether they have a three-person shop, a mid-size company or a growing business with unique insurance requirements. In this program, a primary focus is on selection and pricing for small and middle market accounts.
The underwriter accepts or rejects the risk of coverage and, once the application is accepted, they classify it to charge appropriate premiums for it.
For a particular type of business and/or assigned territory, the Commercial Lines underwriter also helps meet the company’s objectives for new business and helps retain existing business, ensuring an appropriate mix of customers. Underwriters regularly interact with branch office management, loss control, rating and premium audit areas, and business analysts.
Are there opportunities for advancement?
Depending on their individual skills and competencies, Commercial Lines underwriters may progress to jobs as senior middle market underwriters, specialty underwriters, middle market underwriters, small accounts underwriters and small commercial account sales managers.
Who are we looking for?
Candidates for this exciting opportunity will have a Bachelor’s degree in risk management/insurance or another business-related degree, and from zero to three years of related experience. They must be willing to relocate.
Are there other requirements?
Successful candidates will have math skills and strong analytical and problem-solving skills, as well as strong verbal and written communication skills. They also must have:
- Desire to work in a sales/marketing environment
- Ability to effectively assess risk and return
- Strong decision-making and customer service skills
- Ability to explore multiple alternatives and make business recommendations
- Able to develop business partnerships and to negotiate “win-win” arrangements
- Strong organizational and time management skills
- Critical thinking abilities
- Ability to work in a team environment
- Proficiency using Microsoft Office (Word, Excel, Access) and the Internet
- Strong understanding of corporate philosophy and vision
- Willingness to travel
