Business Development Associate

SUMMARY: 

Reviews, analyzes, approves or rejects complex business within letter of authority.  Serve as liaison with company personnel regarding company business opportunities and problem resolution. Responsible for providing temporary assistance to field BDC and providing input when requested as part of the territory’s or regions overall agency plan. 

 ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned. 

• 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 workers’ compensation 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. 
• Participates in promotional plans for both Accident Fund and agent activities. 
• Analyzes and reviews production and loss information for agents. 
• Prepares periodic reports as requested 
• Researches and coordinates responses to agents, policyholders and regulatory entities 
• 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. 
• Trains 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. 

 EDUCATION AND EXPERIENCE   

Relevant combination of education and experience may be considered in lieu of degree. 

• Bachelor’s degree in marketing, insurance, underwriting, loss prevention, and/or auditing.  
• 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 and/or successful completion of the trainee program. 

QUALIFICATIONS 

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 

 OTHER SKILLS AND ABILITIES 

• 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 workers’ compensation 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.   
• Knowledge of workers’ compensation insurance and the independent agency system. 
• Ability to apply creative and persuasive techniques to generate new, and maintain, existing business and ability to be cre