About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers has more than 30,000 employees and generated revenues of approximately $25 billion in 2010.

Associate Account Executive (Underwriter - Surety) Construction Servic

Company Information
Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Job Summary
The Bond and Specialty Insurance division of Travelers is seeking to add an Associate Account Executive (Underwriter) to our Construction Services surety team. This is an opportunity to join a successful, dedicated, and collaborative team of underwriters in a highly visible and challenging role. Associate Account Executives (Underwriters) have the opportunity to build a unique and rewarding career at an Industry leader within a highly specialized niche of the Insurance Industry.
Underwriting in Construction Services is a dynamic blend of the following:
  • Financial analysis/risk assessment: gather and analyze pertinent information in order to evaluate the acceptability of business risk within assigned book of business
  • Marketing: build and maintain relationships with agents, brokers, and insured clients to help achieve business goals
  • New business development and retention: sell to, negotiate with, and influence agents and brokers to manage a profitable book of business
Utilizing Travelers' extensive amount of resources and tools, a Construction Services Associate Account Executive (Underwriter) will have the opportunity to make an impact and will:
  • Develop underwriting skills, product knowledge, and understanding of business unit strategy
  • Support the management of a high quality, diverse, and complex customer base across multiple segments of the construction industry
  • Partner with other high performing underwriters, senior leadership, and a highly specialized internal Claim organization to execute business unit underwriting strategy
  • Build and maintain successful relationships with assigned agents and brokers
  • Work with manager to design, develop, and implement a broker/agency sales and marketing plan specific to assigned territory
  • Learn to leverage Industry leading product expertise and data analytics to identify new business opportunities
  • Develop personally and professionally through training, mentorship, active management support, and a wide variety of career development resources
  • Experience Travelers' unique culture which is collaborative, supportive, and values the need to balance work and life

Construction Services:
  • From the construction of the Hoover Dam to the renovation of the Statue of Liberty, Construction Services provides performance & other surety bonds and related services to general and heavy contractors, construction managers, and subcontractors. Construction Services underwriting includes financial and contract analysis, customer meetings, job site visits, and consultative services.

Under general supervision, responsible for the production and retention of a profitable book of business within an assigned territory that is consistent with Bond and Specialty Insurance and Business Unit strategies and objectives. This role does not manage others.

Primary Job Duties & Responsibilities
General responsibilities: Underwriting new and renewal business. Building and maintaining productive relationships with agents and brokers. Consistently achieving budgeted financial results. Collaborating with BU and region colleagues as well as internal/external business associates. Sales, agency development and management. Underwriting & Pricing: Underwrites and assesses risk for routine, small to mid-size, renewals and new business items in conjunction with BU strategies. Makes appropriate decisions within own underwriting authority. May underwrite moderately complex accounts/risks. Manages the submission and underwriting process for own agency plant, working with more experienced underwriters if outside authority. Is able to determine if an account is within or outside underwriting appetite/strategy. Independently, or in partnership with AE, AEO or MD, sets account strategy. Makes recommendations to underwriter 2, as appropriate. For P & C, may act as an Underwriter 2 for Processing and Underwriting Procedures for Small Accounts (PUPS). Inputs financials and is able to calculate key ratios, drawing conclusions about the general financial health of an account. In addition to, or in lieu of, financials, may review other key metrics. May be able to apply those analyses to decisions regarding pricing, capacity, terms and conditions on moderately complex accounts. Proactively collaborates with regional and Home Office underwriters. Maintains accurate underwriting documentation and information. Meets quality assurance standards. Underwriting Operations: Manages flow of new and renewal business. Agency Management/Relationship: Leads or participate in agency training sessions. Primary agency or broker relationship is producer / internal broker. Sales Management/Marketing: Identifies and drives new business opportunities via existing relationships as well as where there is no existing relationship; continually prospects for new opportunities. Achieves and/or surpasses agency/broker visibility goals. Is able to comfortably talk with agents and brokers about our products and apply them to the needs of the account. Often with the assistance of more experienced underwriters, develops agency plant sales/business plan; develop relationships with producers. Participates in underwriting/agency meetings along with more experienced underwriters. Participates in Region and/or Business Unit sales meetings. Attends agency/broker events and/or industry functions. Partners with colleagues in other Bond and Specialty Insurance or Travelers Business Unites to cross sell all Travelers products. Is able to utilize analytics and tools to assist in the sale and pricing (if applicable) of accounts. Other duties as assigned.

Education, Work Experience & Knowledge
Bachelor degree preferred. Typically has a minimum of 1-3 years of work experience. Industry Knowledge: Demonstrates a fundamental understanding of the local marketplace. Demonstrates an ability and desire to learn about Travelers and BU critical business issues and financial drivers. Is able to apply that understanding to the sales plan, pricing strategy and underwriting strategy. Product Knowledge: Working knowledge of BU products/coverages and pricing and the linkages to strategy. Understands organizational and regulatory rules, policies and procedures and effectively employs that knowledge in day-to-day work.

Job Specific & Technical Skills & Competencies
Able to proficiently use all Bond and Specialty Insurance technology tools. Can negotiate skillfully in routine situations. Able to gain the trust of others quickly. Takes ownership and responsibility for actions and outcomes, performance and results. Can identify current or future problems or opportunities; able to analyze, synthesize and compare information to understand issues; able to identify cause/effect relationships and can explore alternative solutions to support sound decision making. Able to remain energized and focused in the face of ambiguity, change or strenuous demands. Demonstrates effective verbal, written and listening communication skills. Can provide service excellence to internal or external clients. Able to exercise sound judgment, make decisions and commit to a position. Has the ability to work with and include people from different backgrounds, experiences, cultures, races, etc. and views those differences as assets to be leveraged to accomplish business goals and objectives. Can seek out, build, foster and maintain productive relationships, networks or alliances to meet goals and achieve results. Can work with others in situations where a team is mutually responsible to produce a result. Can takes ideas different from own seriously; able to share responsibility and collaborate with others; accepts criticism well. Able to self-reflect on strengths and weaknesses and is willing to improve. Can seek out experiences that may change perspective or provide an opportunity to learn new things. Can act as a role model for employees and keeps a positive attitude. Acts in accordance with stated values; follows through on promises; uses ethical considerations to guide decisions and actions

Environmental/Work Schedules/Other
Requires travel minimum 10% of time.

Physical Requirements
Operates standard office equipment. Requires extended periods of computer use. Requires extended periods of sitting.

Equal Employment Opportunity Statement
Travelers is an equal opportunity employer.
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