Account Executive/Underwriter Bond & Specialty Insurance

The Travelers Companies Naperville , IL 60540

Posted 3 months ago

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 small to mid-size renewals and new business items in conjunction with BU strategies.

May underwrite larger renewals. Considers different approaches toward risks to maximize profitability. Makes appropriate decisions within own underwriting authority.

Underwrites moderately complex-to-complex accounts/risks. Manages the submission and underwriting process for own agency plant, working with more experienced underwriters if outside authority. Can easily articulate whether or not account is within or outside underwriting appetite/strategy, along with the reasons for that determination.

Independently sets account strategy, occasionally partners with AEO or MD to set 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). May input financials and is able to calculate key ratios and more complex financial metrics, drawing conclusions about the financial health of an account.

In addition to, or in lieu of, financials, may review other key metrics; makes decisions regarding pricing, capacity, terms and conditions based on those analyses on complex accounts. Proactively collaborates with regional and Home Office underwriters Maintains accurate underwriting documentation and information. Meets quality assurance standards May act as a Region or industry resident expert.

Underwriting Operations: Manages flow of new and renewal business. Agency Management/Relationship:

Lead or participate in agency training sessions. May be sought out by broker/agent for his/her expertise regarding industry and local issues. Primary agency or broker relationship is producer / internal broker.

Sales Management/Marketing: Leverages agent/broker relationships to drive 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.

Acts as a business partner to agents and brokers. Uses strong negotiation skills and deep product knowledge to meet the needs of the account. Develops agency plant sales/business plan.

Sales activities should include some of the larger and more important agency/brokers/clients. Participates in, and may lead, underwriting/agency meetings. Actively contributes in Region and/or Business Unit sales meetings.

Regularly attends agency/broker events and/or industry functions. Takes the initiative to partner with colleagues in other Bond and Specialty Insurance or Travelers BUs 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.

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.

Job Summary

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


Education, Work Experience & Knowledge
3-6 years of underwriting experience preferred. Bachelor degree preferred. Industry

Knowledge:
Understands the local insurance marketplace, industry business operations, critical issues and financial drivers that affect the BU, region and local office. Is able to apply that understanding to the sales plan, pricing strategy and underwriting strategy. Continuously seeks out market insight from others and uses acquired knowledge to assist less experienced employees. Product

Knowledge:
Knowledge of BU products/coverages and pricing and the linkages to strategy and can easily explain them to others. Understands organizational and regulatory rules, policies and procedures and effectively employs that knowledge in day-to-day work.

Physical Requirements

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

Minimum Qualifications

A minimum of 2 years of underwriting experience is required. A current/valid drivers license is required.



See if you are a match!

See how well your resume matches up to this job - upload your resume now.

Find your dream job anywhere
with the LiveCareer app.
Download the
LiveCareer app and find
your dream job anywhere
lc_ad

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Summer 2019 Bond & Specialty Insurance Underwriting Internship

The Travelers Companies

Posted 1 week ago

VIEW JOBS 11/3/2018 12:00:00 AM 2019-02-01T00:00 Primary Job Duties & Responsibilities Each intern will be expected to complete challenging and meaningful project work over the course of this program. In addition, there are core assignments and a designated coach to further develop interns' knowledge of insurance underwriting, sales and marketing. Positions are available across various U.S. offices lasting approximately 10-12 weeks beginning in late May/early June 2019. Housing assistance is not provided. Job Specific & Technical Skills & Competencies * Working knowledge of Microsoft Office. * Strong verbal and written communication skills. * Strong analytical skills. * Legally eligible to work in the United States. Job Summary The Bond & Specialty Insurance Underwriting Internship Program provides qualified students with an excellent opportunity to gain first-hand experience, receive valuable on-the-job training and learn more about the property & casualty insurance industry. What exactly is an Underwriter? Insurance is the contractual transfer of financial risk from one party to another. Underwriters (Account Executives) are the heart of the insurance process, gathering and researching pertinent information and then using finely tuned analytical skills to evaluate the acceptability of business and institutional risk. However, underwriters are more than just analysts – they are the core relationship builders with our agents and clients. They are responsible for managing a profitable portfolio of business through our distributing agents and brokers. An underwriting career includes a dynamic blend of analytical and marketing skills – it's challenging, stimulating and a superb career choice. The Bond and Specialty Insurance Division: The Bond & Specialty Insurance provides management liability, professional liability and surety to businesses of all sizes. It also provides traditional property casualty coverages to Financial Institutions, and is organized into six separate and distinct business units which include: * Commercial Surety: Protects a third party from the failure of an insured to perform or fulfill an obligation * Construction Services: Insuring the bond between contractors and clients * Financial Institutions: Insurance for community banks, credit unions, insurance companies, investment advisors and large depository & non-depository institutions * Private/Non Profit Liability: Insurance products for private companies and non-profit institutions * Professional Liability: Professional liability coverage protects against liability claims for negligence, errors and omissions in the performance of professional services * Public Company Liability: Insurance products crafted to address the diverse management liability exposures faced by today's public companies Education, Work Experience & Knowledge Because the Bond & Specialty Internship Program itself is complex and dynamic, we welcome applicants that have a variety of majors, backgrounds and experiences. For this internship opportunity, we are most interested in students who are serious about entering the insurance industry and who are excited about the prospect of making underwriting their future career choice. * Preferred cumulative GPA of 3.0 or above. * Undergraduate students completing their sophomore or junior year. * Business Administration, Economics, Finance, Risk Management/Insurance, Marketing or other Liberal Arts majors with a business focus are preferred. Minimum Qualifications Must be pursuing a Bachelor's degree. The Travelers Companies Naperville IL

Account Executive/Underwriter Bond & Specialty Insurance

The Travelers Companies