how to switch from agency side to corporate underwriting?

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yolandafight
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how to switch from agency side to corporate underwriting?

Post by yolandafight »

Hi i have been looking for a corporate underwriting job for past 2 months, but do not receive successful responses. I was working in a state farm agency as an insurance account rep for 3years and half. And past 1 year on maternity leave. I have passed 5 cpcu courses. Is it doable for the switch? Just want to have some advise.
Companyman
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Re: how to switch from agency side to corporate underwriting

Post by Companyman »

Yo-
I worked as a captive and then transitioned over to the corporate side as an underwriter. Over the years I have progressed well through various underwriting lines of business and positions. Not sure where you are, but being near a main office I think is certainly a benefit. Not many companies are going to take on a new underwriter remotely. Another possible perception that you may need to overcome is that you would be "agent friendly" (having worked in an agency prior) and more willing to accomodate outside of the company guidelines. Not that it is a bad thing, but the reasoning behind the decision needs to be solid and more then "they are a good agency".

It is a different mindset going from producer to underwriter. While good agents do front line underwriting for acceptability and have few issues upon submission there are other that send in everything to see what sticks. The sell, sell, sell mentality. As an underwriter you will need to be fair when dealing with the agents and risks, but consistency, knowing what to ask , when to ask, and making the right accomdations is paramount.

It certainly can be done. Good luck..
yolandafight
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Re: how to switch from agency side to corporate underwriting

Post by yolandafight »

Thank you, Companyman! It's a good point you mentioned about not being too “agent friendly ” in underwriting new business as an underwriter. That's one of the things that I can address during the interview.

I would just keep trying :P
paulbennings
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Re: how to switch from agency side to corporate underwriting

Post by paulbennings »

This is a good thread. I have been trying to do the same for awhile now. Let me know if you have any luck and what helped you. I have a CPCU too but not many bites yet as far as resumes go. Also, I have been somewhat lazy about the hunting. Getting a job can be a job itself. One nice thing, the job picture seems to be improving.

Good luck with the last 3 tests BTW.
WineryAgInsure
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Re: how to switch from agency side to corporate underwriting

Post by WineryAgInsure »

Companyman is correct. You will need to be located near a main underwriting facility for at least the first couple of years for training. Expect to enter as a rater or junior underwriter at first.
I worked for State Farm agents for 15 +/- years over 2 decades and then as an independant for a couple of years. Captive to Independant to Carrier was a good stepping stone re learning markets and forms. Captive versus the rest of the insurance world is a big difference. Anyway - I found by job by 1) being passionate & knowledgable about what I wrote 2) talking to LOTS of people and 3) being at the right place at the right time.
The completion of your CPCU should help you. Also, being flexible & a problem solver is good. Computer savvy is a must. Most of the carriers have unwieldy legacy systems which are a pain to work with so you need to be able to find the work-arounds.
Good luck!
kevinraz
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Re: how to switch from agency side to corporate underwriting

Post by kevinraz »

I've got the same story. Was on agency side for 5+ years before going to a company, had to relocate across the country to Charlotte NC to be at Hartfords center there. Be prepared and ready to move, mostly at your own expense the first time. Once you get in with a company they will probably pay for relos after that. Another factor is your experience with State Farm. They are the biggest company out there but are very limited in what they do - massive personal lines, very little commercial appetite. If you were in an independent agency you might have a better shot.

Also, there is a lot of competition out there now. Carriers have laid people off so folks with underwriting experience are looking for work. Keep looking & promoting yourself & use LinkedIn as well. You might have a better chance trying to go to commercial underwriting, it's probably a 10 to 1 ratio with most multi line companies for commercial vs. personal underwriters. Personal is all done by computers, commercial still requires more human input.

Good luck! I love underwriting, much better than the agency side of things.
Kevin Rasmussen AU, CIC
yolandafight
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Re: how to switch from agency side to corporate underwriting

Post by yolandafight »

Thank you, Kevin and Wineryaginsure for all the tips. Also, should I apply for underwriting assistant position now, since I don't have direct underwriting experience? So I'm thinking if I should go from entry level like that. .but on the other hand, UA is more like an admin job to me. What do you think?
yolandafight
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Re: how to switch from agency side to corporate underwriting

Post by yolandafight »

paulbennings wrote:This is a good thread. I have been trying to do the same for awhile now. Let me know if you have any luck and what helped you. I have a CPCU too but not many bites yet as far as resumes go. Also, I have been somewhat lazy about the hunting. Getting a job can be a job itself. One nice thing, the job picture seems to be improving.

Good luck with the last 3 tests BTW.
I have been actively looking for almost two months now. I mean checking all the job post sites every single day! Getting a job becomes my full time job already. Hopefully good luck will come to me soon. And same wishes to you :)
kevinraz
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Re: how to switch from agency side to corporate underwriting

Post by kevinraz »

An underwriting assistant position is not a bad idea, but the pay is a lot lower. With some companies they rarely move assistants/techs to UW positions because they get very valuable at processing stuff but still the pay is not great compared to underwriting.

Another idea - check out http://www.insuranceunderwritingweb.com/ There's a lot of stuff there. It did not work for me
but at least it's a site devoted to underwriting jobs.
Kevin Rasmussen AU, CIC
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