Business Development Associate

SUMMARY:

Determine individual risk acceptability, pricing, coverage, terms and conditions by developing, analyzing and evaluating information and exposures on risks of a technical nature for the garage line of business. Manage agency relationships. Serve as liaison with company personnel regarding company business opportunities and problem resolution. Provide input and assist in the execution of overall agency plan.

RESPONSIBILITIES / TASKS:

• Calculates, prepares and develops premium quotations using corporate underwriting guidelines within letter of authority
• Determines underwriting eligibility for prospective policyholders and develops appropriate pricing for new business, renewals, and endorsements
• Analyzes and reviews prospective accounts for insurability and accepts or rejects within letter of authority.
• Supports agency relationships.
• Supports agency plans in cooperation with other staff.
• Addresses agents’ and policyholders’ concerns/needs.
• Develops new business and retention of existing business in a given territory or region.
• Explains and emphasizes benefit of Commercial insurance products and services to customers (agents and policyholders).
• Works with all internal departments to resolve problems and maintain company relations.
• Participates as necessary on special committees and task forces.
• Interprets and develops territory reports which reflect the status of the territory.
• Analyzes and reviews production and loss information for agents.
• Prepares periodic reports as requested
• Analyzes agency performance and develop corrective action plans as needed to correct poor performance.
• Analyze accounts to determine exposure and proper pricing
• Gathers competitive and product information from the field
• Responsible for profitability of territory.
• Train agency employees on the use of company specific automation systems
• Reviews loss trends and develops action plans to correct problem areas
• Supports schedule for large account service plans with claims, loss control, premium audit, and other departments as needed
• Provides input for agency advisory council meetings
• Assists in the development of regional goals

This position description identifies the responsibilities and tasks typically associated with the performance of the position.  Other relevant essential functions may be required.

EMPLOYMENT QUALIFICATIONS:

EDUCATION:   

Bachelor’s degree in marketing, insurance or related field.  Combinations of relevant education and experience in the following areas may be considered in lieu of a degree: Underwriting, marketing, loss prevention, and/or auditing. Continuous learning required, as defined by the Company’s learning philosophy. Certification, or progress toward, highly preferred and encouraged.

EXPERIENCE:

One-year of relevant experience which provides the necessary skills, knowledge and abilities is required. Agency management and marketing experience preferred or with proper education, successful completion of the trainee program.

SKILLS/KNOWLEDGE/ABILITIES REQUIRED:

• Ability to exercise good judgment in evaluating and determining the proper pricing for prospective policyholders using corporate underwriting guidelines by accepting or rejecting risks for the purposes of issuing commercial insurance coverage
• Ability to initiate insurance transactions in compliance with all policies, procedures, legal and ethical guidelines.
• Ability to negotiate while establishing a personal rapport and maintaining an effective working and client relationship. 
• Ability to apply creative and persuasive techniques to generate new, and maintain, existing business and ability to be creative when presented with unique situation.