Reinsurance Underwriter Trainee

Cedar Rapids, IA - USA

Hourly Salary: $ 21 - 28

Posted on: 16 hours ago

Vacancies: 1 Vacancy

Job Summary

UFG is looking for a Reinsurance Underwriting Trainee to join the this role you will learn the fundamentals of reinsurance underwriting and will be responsible for learning reinsurance structures buying objectives pricing and accounting. Instruction will be provided on the job by senior underwriting team members and cross-departmental professionals. The trainee will gain an understanding of the strategic objectives of the business unit and contribute to the acquisition of a profitable portfolio of domestic & non-U.S. reinsurance contracts. The trainee will participate in the analysis of treaty submissions and determination of their acceptability within framework of UFG underwriting policies and strategy.

**Qualified candidates must be open to working 4 days in office each week in Cedar Rapids Iowa.**

Responsibilities:

Gain an understanding and develop analytical skills on how to investigate analyze differences in terms across new or renewal submissions and year-over-year changes.
Prepare treaty experience and exposure analysis for input in the underwriting decision process.
Participate in the drafting of referral memos.
Assist underwriters in the management of their books of business including input of treaty underwriting and pricing details in the Assumed Reinsurance Contract Management System.
Participate in remote client meetings.
Underwrite submissions with assistance from mentors and learn to make underwriting recommendations.

Qualifications:

Education:

Bachelors degree or combination of education and reinsurance experience.
Bachelors degree in business administration economics finance or accounting preferred.
Risk Management Certificate preferred

Certifications/Designations:

Employees are expected to participate in continuing education throughout their careers.
Trainee will obtain ARe designation during their first year.

Experience:

1 years of professional work experience preferred.

Working Conditions:

General office environment in-office required 4 days per week.
No travel in year 1 approx. 10% overnight travel by year 3

Skills & Knowledge:

Strong mathematical reasoning and analytical thinking and nimble learning skills.
The ability to self-plan and prioritize.
Demonstrated professionalism and ability to collaborate.
Knowledge of MSOffice systems to include Outlook Excel (pivot tables) and Word.
Understanding of financial terms preferred.
Strong business knowledge and acumen.

Pay Transparency Statement:

UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $21.64 - $28.56 hourly which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors including relevant experience education certifications skills internal equity geography and market data.

In addition to base salary UFG Insurance offers a comprehensive total rewards package that includes:

Annual incentive compensation
Medical dental vision & life insurance
Accident critical Illness & short-term disability insurance
Retirement plans with employer contributions
Generous time-off program
Programs designed to support the employee well-being and financial security.

This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.

Required Experience:

Intern

UFG is looking for a Reinsurance Underwriting Trainee to join the this role you will learn the fundamentals of reinsurance underwriting and will be responsible for learning reinsurance structures buying objectives pricing and accounting. Instruction will be provided on the job by senior underwritin...