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VP, Technical Resources - Commercial P&C
VirtusOverland Park, United Statesfull_timeVerifiedPosted 6 Aug 2024
About the role
A winner of Best Places to Work in Insurance seven years in a row, Virtus is looking for innovative individuals to join our fast-paced, rapidly growing team headquartered in Overland Park, Kansas. Virtus is a next generation insurance consulting firm that focuses on middle market clients in a variety of lines of coverage. With locations in Kansas City, Memphis, Chicago, Ft. Collins, St. Louis, Dallas, and Austin, our team has a national scope and with a sophisticated client base that thrives on new ideas and our consultative approach. We're shaking up a tired insurance industry and creating something better: an experience that empowers our people to evolve, take smart risks, and face the future boldly.
Position OverviewThe VP, Technical Resources is a seasoned P&C professional with a broad and developed technical background in both the property and casualty disciplines, including familiarity with and knowledge of the following: underwriting, program design, limit review and benchmarking, loss forecasting and loss stratification, general principles of risk management, experience modification review, classification review, catastrophe modeling, flood zone issues, coverage placement and carrier relations, comparative policy wording analysis, contractual requirement review, loss responsive and captive feasibility analysis, collateral negotiation, claims advocacy skills and general risk control practices/principles.
In addition, this role will serve as an effective technical and organized leader with the ability to influence other team members within client development and client success. This position will also participate in sales presentations and internal education efforts with a strong ability to translate the complex to simple for our clients and team members.
Essential Duties & Responsibilities•Act as a player coach whenever necessary to deliver required technical support to Virtus colleagues and clients.•Participate and contribute ideas and solutions for both new and existing clients in order to improve the effectiveness of new business and retention/stewardship meetings and improve the quality and impact of existing client programs.•Provide regular client communications and build rapport with largest accounts within the commercial book.•Manage property analytics, casualty analytics, and claims and risk control teams, to assist in determination of job assignments, new business assignments, and will participate/contribute feedback regarding overall performance for team within Commercial Lines groups. •Periodically draft client facing papers on timely topics for distribution to clients and prospects (at least four per year) and coordinate the drafting of case studies that illustrate the results of our sales and service model.•Support building and maintaining strong relationships with insurance carriers for a competitive advantage over other competitors in the market.•Work with internal partners and external customers to create improved products and services.•Act as liaison between clients, Virtus, and carriers to manage the risk process activities.•Oversee and coordinate carrier risk control/loss control activities and assume oversight responsibility for holding carriers accountable for achieving pre-determined risk management goals.•Ensure that organizational decisions support company values. Build trust by acting as a role model for integrity, respect, and professionalism.•Participate in talent acquisition efforts and ensure the quality of all hires withing the P&C platform. •Mentor, train, and coach team members. Continually develop ways to improve the level of knowledge and skills of all staff within the unit; direct employee training and personal development to improve effectiveness.•Promote and enhance the overall reputation of Virtus with internal and external stakeholders, prospects, and carriers.•Audit and/or review audits of accounts to ensure compliance with Virtus standards.
Required Knowledge, Skills & Abilities:
P&C technical knowledge required •Review loss trends on casualty lines to develop mitigation plans, and to forecast future premium expectations to drive carrier negotiations. •Review property insurance program structure, and vendor contracts relative to insurance requirements (structure, coverage, limits, deductibles, retentions, classifications, et al), and recommend improvements, analyze data, and negotiate policy terms and conditions. •Analyze financial, loss, and exposure data to develop insights and findings that contribute to favorable negotiation of policy terms and conditions. •Apply knowledge and creativity in the development, structure, and placement of layered and quota shared programs including experience with concurrent terms and conditions. •Utilize benchmarking as a tool for helping clients and prospects optimize the design and structure of their insurance programs and to validate our recomm
Position OverviewThe VP, Technical Resources is a seasoned P&C professional with a broad and developed technical background in both the property and casualty disciplines, including familiarity with and knowledge of the following: underwriting, program design, limit review and benchmarking, loss forecasting and loss stratification, general principles of risk management, experience modification review, classification review, catastrophe modeling, flood zone issues, coverage placement and carrier relations, comparative policy wording analysis, contractual requirement review, loss responsive and captive feasibility analysis, collateral negotiation, claims advocacy skills and general risk control practices/principles.
In addition, this role will serve as an effective technical and organized leader with the ability to influence other team members within client development and client success. This position will also participate in sales presentations and internal education efforts with a strong ability to translate the complex to simple for our clients and team members.
Essential Duties & Responsibilities•Act as a player coach whenever necessary to deliver required technical support to Virtus colleagues and clients.•Participate and contribute ideas and solutions for both new and existing clients in order to improve the effectiveness of new business and retention/stewardship meetings and improve the quality and impact of existing client programs.•Provide regular client communications and build rapport with largest accounts within the commercial book.•Manage property analytics, casualty analytics, and claims and risk control teams, to assist in determination of job assignments, new business assignments, and will participate/contribute feedback regarding overall performance for team within Commercial Lines groups. •Periodically draft client facing papers on timely topics for distribution to clients and prospects (at least four per year) and coordinate the drafting of case studies that illustrate the results of our sales and service model.•Support building and maintaining strong relationships with insurance carriers for a competitive advantage over other competitors in the market.•Work with internal partners and external customers to create improved products and services.•Act as liaison between clients, Virtus, and carriers to manage the risk process activities.•Oversee and coordinate carrier risk control/loss control activities and assume oversight responsibility for holding carriers accountable for achieving pre-determined risk management goals.•Ensure that organizational decisions support company values. Build trust by acting as a role model for integrity, respect, and professionalism.•Participate in talent acquisition efforts and ensure the quality of all hires withing the P&C platform. •Mentor, train, and coach team members. Continually develop ways to improve the level of knowledge and skills of all staff within the unit; direct employee training and personal development to improve effectiveness.•Promote and enhance the overall reputation of Virtus with internal and external stakeholders, prospects, and carriers.•Audit and/or review audits of accounts to ensure compliance with Virtus standards.
Required Knowledge, Skills & Abilities:
P&C technical knowledge required •Review loss trends on casualty lines to develop mitigation plans, and to forecast future premium expectations to drive carrier negotiations. •Review property insurance program structure, and vendor contracts relative to insurance requirements (structure, coverage, limits, deductibles, retentions, classifications, et al), and recommend improvements, analyze data, and negotiate policy terms and conditions. •Analyze financial, loss, and exposure data to develop insights and findings that contribute to favorable negotiation of policy terms and conditions. •Apply knowledge and creativity in the development, structure, and placement of layered and quota shared programs including experience with concurrent terms and conditions. •Utilize benchmarking as a tool for helping clients and prospects optimize the design and structure of their insurance programs and to validate our recomm
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