Chicago,
IL
(Click company name to view employer profile and all available
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Career Field |
Underwriting
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| Insurance
Discipline |
All
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| Relocation
Assistance |
Not Available
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| Job
Duration |
Full Time |
| Salary
Offered |
Open |
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SUMMARY:
Experienced Account Executive to produce and underwrite new and renewal business from assigned agents/brokers in the Financial Institutions business unit in Bond & Financial Products, which includes large financial institutions, community banks, insurance companies, and investment advisors. Consistently achieve budgeted financial results (premium, loss ratio, retention, commissions, pricing, new business, premium collection, and expense management) through execution of market segment strategies.
Interact and collaborate with a team of business unit colleagues and other critical internal/external business associates.
Position involves both outside and inside sales and includes direct responsibility for agency development and management within a book of business. Travel in Central Illinois will be required one-half of the time to generate new Community Bank business.
PRIMARY DUTIES:
RESPONSIBILITIES UNDERWRITING
Underwrite and assess risk for Bond & Financial Products and accounts in the Financial Institutions business unit. Make appropriate decisions within own underwriting authority and make appropriate recommendations to Underwriter 2.
Underwrite more complex accounts and risks and consider different approaches toward risks to maximize profitability (e.g., pricing, retention, endorsements, limits, indemnity, security).
Within authority limit, make quick sound decisions and negotiate terms and conditions consistent with Bond & Financial Products business unit requirements and standards and within submission timeframe.
Understand and execute segment strategies to produce budgeted results.
Continuously manage book of business (maintain quality of business required by market segment strategy).
Accountable for accurate underwriting documentation/ information in account management systems and adherence to documentation standards.
Understand, embrace, execute, and foster Bond Guiding Principles/Best Practices
May act as a Hub or industry resident expert.
RESPONSIBILITIES SALES MANAGEMENT
Develop and leverage productive agency/client relationships through a high level of visibility with agents, brokers and clients and a disciplined sales management approach (i.e., planning and follow-up for agent/broker and prospective end customer visits/meetings) in support of business objectives. Effectively develop and execute sales plans. Sales activity should include some of the larger and more important agents/clients.
Act as business partner with assigned agents and clients including interaction and negotiation as appropriate.
Maintain a collaborative relationship with Home Office colleagues.
Identify and capture new business opportunities and effectively cross sell Bond & Financial Products business unit, and Travelers products/businesses (e.g., National, CAG, Select).
Actively participate in Region market segment and regularly scheduled sales meetings.
Demonstrate superior customer service standards (consistency, quick response, knowledge of products).
Convince / persuade others to help achieve underwriting, sales and production goals and understand and work towards strategic objectives.
Customer interaction focuses on meeting customer expectations re response time and knowledge of products and business.
Demonstrate operational excellence by complying with Best Practices, and managing desk to meet customer expectations.
Work strategically and tactically with brokers and agents to ensure appropriate level of understanding of company goals and objectives.
Represent the organization to internal and external customers.
Conduct self in a professional manner both internally and externally.
COMMUNICATION SKILLS:
Strong communication (written and verbal), influencing, negotiating, listening, and interpersonal skills to effectively develop/maintain productive internal and external relationships.
Effectively communicates and collaborates with colleagues on team, Region, and Home Office.
Ability to communicate difficult decisions.
Adept at framing issues and solutions for agents, brokers, customers, and Underwriter 2.
Ability to communicate with confidence and influence outcome of interactions.
OTHER:
COMPETENCIES TEAM/INTERPERSONAL /DEVELOPMENT
Work well independently as well as in a team environment.
Communicate and collaborate with colleagues on team, Hub, and Home Office (including collaborative table).
Participates in industry functions to increase visibility in the marketplace, network with key players in the industry, and increase knowledge of the industry (PLUS, AGC, Surety Assn., Banker Assns).
Promote the growth and development of less experienced staff members and foster an energized environment.
Participate on projects having an impact on the business.
Assist in development of Trainees, Account Underwriters, and less experience Account Executives. May conduct formal training on key functions of the position.
Keep Account Underwriter, and Hub Management apprised regarding business developments/ marketplace trends.
Act as a technical resource to newer or less experienced employees and customer internal and external.
COMPETENCIES DECISION MAKING
Ability to make quick, sound decisions and recommendations with appropriate decision basis and negotiate terms and conditions.
Ability to think strategically and to understand a situation (accounts, competitive environment, product changes) and develop a strategy to achieve the desired outcome.
COMPETENCIES SELF MANAGEMENT
Possesses a strong work ethic.
Ability to overcome obstacles.
Work well independently as well as in a team environment.
Detail oriented.
Ability to manage workload without assistance.
Consistently meets customer expectations.
Highly motivated to meet requirements of position.
COMPETENCIES CUSTOMER SERVICE
Demonstrates strong customer service skills.
Demonstrates productive agency/client relationships in support of business objectives.
Develop high level of visibility w/ key agencies, brokers and clients.
COMPETENCIES LEADERSHIP
Demonstrated leadership characteristics and traits:
Agency management
Cross selling initiatives
Professional image
Respect and trust of agents and colleagues
Well organized
Meet deadlines
Consistently demonstrates integrity, and initiative
Takes accountability for development
Sense of urgency
Takes ownership and responsibility for decisions and outcomes
Share success with the team
Self motivated
Considered go to person
Strong production results
Willingness to accept and achieve stretch goals
Ability to train and mentor less experienced employees, due to AE interest in developing people.
DEVELOPMENT/TRAINING OPPORTUNITIES
Demonstrate a broad perspective and interest of the market segment, Hub, Bond, and Travelers.
Demonstrate an understanding of the dynamics of the organization.
Continue to expand/refine knowledge of underwriting new and more complex products and increase underwriting authority.
Continue to expand/refine sales and marketing skills based on experiences.
Expand perspective of market segment and Bond.
Develop leadership skills (re: training and mentoring less experienced colleagues).
Taking AFSB/RPLU/CPCU classes (optional).
READINESS FOR NEXT POSITION
(To Managing Account Executive)
Perceived as a leader by colleagues. Leads by example.
Demonstrated ability to effectively lead a team.
Demonstrated interest and ability to develop people by training and coaching less experienced colleagues.
Demonstrated interest and ability to attract highly skilled people.
Continued interest and willingness to take a broader perspective on the business and company.
Demonstrated solid communication and collaboration skills and ability to effectively communicate in a way that gains acceptance by colleagues at all levels of the organization.
Considered go to person by colleagues and customers.
Meets leadership requirement for current position.
(To Account Executive, Officer)
Demonstrated mastery of the most complex products, agents/brokers, and underwriting.
Consistently achieves superior financial results.
Perceived as a leader by colleagues.
Demonstrate ability to handle higher level of underwriting authority.
Demonstrated strong sales management skills and high outside visibility.
Meets leadership requirements for current position.
COMPETENCIES TECHNICAL SKILLS
Proficient in all segment products.
Qualify for and utilize higher level of field underwriting authority based on underwriting expertise.
Advanced analytical skills.
Advanced financial analysis skills.
Ability to use all Bond technology tools proficiently.
Demonstrates strong sales management skills.
Ability to effectively grow production and earnings from assigned agents.
Consistently demonstrate disciplined sales management approach (planning and follow-up) for agent/broker and prospective end customer visits/meetings.
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