Commercial Insurance Business Development Representative
National Interstate Insurance Company
Location: Richfield, Ohio
Job Type: Full time
National Interstate is a member of Great American Insurance Group. As one of the leading commercial transportation insurers in the nation, we offer risk financing solutions in all 50 states tailored to meet the needs of a wide variety of transportation classes. Our offerings include traditional insurance and innovative alternative risk transfer (ART) programs, including more than a dozen group captive programs catering to niche wheels markets. We are proud to be a multiple Northcoast 99 winner and Cleveland Plain Dealer Top Workplace in Northeast Ohio. It is because of our talented and dedicated team that we are able to live out our company values of integrity, transparency, fairness, accountability, empowerment and collaboration with each transaction we make. If you are ready to join an engaging and driven team such as ours, we would love to hear from you!
Essential Job Functions and Responsibilities
- Initiates contact with current and prospective new business partners. Initiates and follows up on new business opportunities, and as appropriate for line of business, obtains underwriting approval.
- Markets the company's products/services through interaction (correspondence, phone, in person, digital media, etc.) with agencies, brokers or clients.
- Tracks statistics on prospect lists, hit ratios, business retention and new business production.
- Develops and employs innovative, creative, and resourceful methods for achieving new business development.
- Works collaboratively with management to develop, monitor, and adapt a business/marketing plan for area of responsibility and to support division goals.
- Participates in the development of agency or client business goals.
- May support underwriting in fact gathering, underwriting, and pricing of renewals.
- May prepare reports to analyze and develop existing business profile/mix and the quality and quantity of new business.
- May promote additional coverage/programs to existing accounts.
- Responsible for achieving premium development and retention/persistency goals.
- Builds strategic relationships with business partners (clients, agents, brokers, producers) to achieve targeted profit goals of the division.
- Regularly corresponds and visits with agencies, brokers, and clients. Monitors the delivery of excellent customer service and follows-up on any customer concerns that need to be addressed.
- May assist with coordinating/transferring books of business and ongoing contract management.
- Identifies issues/potential issues and triages to appropriate staff to resolve.
- Provides continuing education and support to assigned agents regarding company products, programs, product line news/issues, eligibility guidelines, risk, and pricing philosophy.
- May author/distribute promotional correspondence (newsletters, pamphlets, et.) and/or marketing collateral to existing and potential agents and/or customers.
- Plans and hosts both internal and external events to achieve area/regional marketing initiatives.
- Maintains specialized knowledge of competitors and market conditions. May be required to gather, analyze and maintain competitive information. May utilize a Customer Relationship Management (CRM) database to improve services or target marketing efforts.
- Functions as a subject matter expert in collaborations with Underwriting, Product Development, Product Management, Corporate Legal, and Corporate Communications to develop marketing initiatives, new products, and the supporting marketing materials. May collaborate with other business units on cross-marketing efforts.
- Attends industry and association events.
- Provides technical advice to lower level associates and other functional areas.
- May have responsibility for performance and coaching of staff and may have a participatory role in decisions regarding talent selection, development, and performance management for direct reports.
- Performs other duties as assigned.
Education: Bachelor’s Degree or equivalent experience.
Field of Study: Liberal Arts, Business or a related discipline.
Experience: 5 to 7 years of related experience. May require insurance licensure or FINRA Series 6 depending on product line.
Company:NIC National Interstate Corporation
Number of Positions:1