BITCO Corporation, headquartered in Davenport, Iowa, is seeking an Underwriter for our branch office located in Pasadena CA. With 11 branch offices in 10 states, BITCO provides quality insurance services to special industries including construction, forest products and oil & gas. This position is eligible for a hybrid work schedule with required business travel to BITCO office locations and customer offices.
Position Summary :
This position is expected to evaluate commercial insurance applications for the Construction and Forest Products industry in order to produce and underwrite new and renewal business from an assigned group of agencies in a timely and accurate manner.
Primary Responsibilities:
- Decides whether to accept, decline or modify applications or requests to sell an insurance policy and once sold, recognizing and evaluating exposure changes as they occur during a policy period and including an understanding of the company's target programs and coverage
- Evaluates, quotes and negotiates prices on applications from new and renewal customers and requests for changes in policies which requires an understanding of statutory requirements, ISO, company and NCCI coverage forms and endorsements and commercial line reference manuals, including Best's Underwriting Guide
- Manages a group of agencies, including prospecting for new agencies, agency appointment, growth and development, maximization of agency profit sharing opportunities and credit management; evaluating agency factors, including agency personnel, line diversification, loss ratio, agency book of business, volume and profit potential and which agencies to appoint or terminate
- Travel as necessary to perform sales and marketing activities, maintain territory, attend meetings, or for other reasons deemed necessary to fulfill position requirements
- Solicit new business and retain renewal business through effective presentations to agency and customer audiences
- Manages and develops business in an assigned territory, including achieving profitable underwriting results, sales development and customer service functions
- Formulates, plans and achieves sales budgets, with objectives to support business planning, for assigned accounts and territory, including setting and achieving premium and loss ratio goals, agency and prospecting calls and business forecasting
- Working with a structured referral process, maintains, promotes and increases profitable sales from current and prospective customer accounts through, among other activities, regular agency visits, developing agency relationships and agency reviews
- Makes decisions within stated levels of authority and company guidelines, seeks exceptions to guidelines as needed when supported by appropriate data
- Identifies and takes appropriate action on changes in customer operations or financial conditions
- Maintains and promotes profitable business relationships with current and prospective customer accounts, through effective marketing, sales and service efforts
- Coordinates, promotes and markets claims, risk control and premium audit service plans to current and prospective customers
- Maintains current knowledge of corporate, regulatory and competitive changes in lines of business written
- Performs other duties as assigned
Qualifications:
The qualified candidate will have experience with the following:
- Bachelor's Degree in Finance, Insurance, Risk Management, or other Business related field preferred; or equivalent experience
- Minimum of 2-3 years' experience in the following areas:
- Field Underwriting – Construction, Forest Products, Manufacturing, Oil & Gas
- Underwriting New & Renewal Business – Determine pricing and understand commercial lines policy forms and coverages
- Analyzing & Managing Exposures – Develop action plans to manage risks and changes during a policy period
- Agency Management – Growth and development; prospecting; appointment; and maximization of opportunities and responsibilities
- External Sales – Cultivate new business while demonstrating retention of current customers through presentations to agencies and customers
- Eligible to work in the United States
- Valid Driver's License with acceptable Motor Vehicle Report
Salary Range:
$75,000.00-$113,000.00, commensurate with experience
Benefits:
- Competitive salary and benefits
- Paid time off and 12 paid holidays a year
- Health, dental, and vision insurance
- Company paid life insurance – 2x annual earnings
- Old Republic 401(k) Savings and Profit Sharing Plan
- Education and training opportunities
- Insurance designations encouraged with financial assistance available
- Daily two-hour flexible start and end time for 7.5-hour workday
- Employee Fitness Program