Insurance underwriters analyze risks in order to set the terms and price of insurance policies. Risks are determined by the likelihood of a claim being made. Through careful assessments and detailed definition of insurance cover, underwriters calculate premiums to reflect potential losses. They are usually responsible for making the final decision on whether their company will take on the risk and at what premium.
Travelers has two underwriting development programs, specifically geared toward students and new graduates who are new to the underwriting profession. Upon graduation from each development program, participants will manage their own underwriting territory and contribute positively to their business unit’s plan and Travelers’ overall profitability.
The Business Insurance Underwriting Professional Development Program (UPDP) provides participants an opportunity to learn and apply technical insurance knowledge in a structured, hands-on environment. Participants are paired with a coach who guides them through the comprehensive one-year training program.
Throughout the program, participants will develop an understanding of Business Insurance’s long- and short-term business strategies, which are designed to achieve growth and profit objectives for their particular business unit. With guidance, participants will evaluate new and renewal business to accept, decline, modify and price accounts and develop effective relationships with internal sources to ensure the delivery of all related services to customers.
The Bond & Specialty Insurance Underwriting Development Program offers a unique and challenging opportunity to develop a successful career through the underwriting and marketing of our Surety and Management Liability insurance products.
This year-long program is divided into three phases, which include formal underwriting training sessions, participation in classes, a mentor who provides guidance and direction, self-study materials and immersion in the dynamics of underwriting, reviewing files and agency visits.
Why did I choose Travelers? Because there’s always room for advancement here if you’re looking to challenge yourself.Read more »