Surety Account Executive - Commercial Insurance

SUMMARY

Responsible for negotiating with surety underwriters for best terms, conditions and competitive pricing for existing and new clients. Acts as the primary point of contact for assigned surety clients and oversees surety account servicing.  

ESSENTIAL DUTIES AND RESPONSIBILITIES

•    Assists in the servicing of accounts by managing clients’ surety programs and keeping Producers up-to-date on new products, coverage’s and market trends, where applicable;
•    Develops and delivers surety and industry related presentations/seminars to clients and prospects audiences independently or in conjunction with Producers;
•    Maintains a strong knowledge of surety market conditions on a macro and micro level (i.e. specific understanding of each surety market appetites);
•    Brokers surety programs for all clients including compilation of submissions, matching surety to client, financial analysis, capacity analysis, character analysis and development of brokering strategies;
•    Prepares marketing proposals for new surety submissions as well as new business opportunities by analyzing and defining the risk exposure and coverage required;
•    Identifies specific client risk exposure and develops and presents innovative coverage solutions in support of existing/new business growth;
•    Ensures all existing account programs are renewed on a timely and accurate basis; provides analysis of required financial and underwriting information from the client for the surety;
•    Establishes and maintains strong relationships with the underwriting community for the ultimate benefit of the client;
•    Manages correspondence, reports and presentations;
•    Coordinates the efforts of the technical and support staff to service clients effectively and efficiently to deliver seamless service to the client; 
•    Willingness to take on additional responsibilities in the day-to-day operations of the surety team, leading by example by demonstrating and sharing with all lines of business the importance of best practices;
•    Meets with clients as needed or directed by producer;
•    Reviews accounting history, responds to accounting inquiries, corrects discrepancies and contacts client on receivable collections;
•    Serves as technical expert, assisting department members to resolve complex issues;
•    Collection of fees, reconciliation and resolution of any outstanding balances within 90 days of invoicing date;
•    Complies with agency management system data standards and data integrity (enters and maintains complete and accurate information);
•    Other duties as assigned.

QUALIFICATIONS

EDUCATION / EXPERIENCE

Bachelor’s degree or equivalent combination of education and experience 
Eight (8) or more years related work experience; surety underwriting experience a plus 
Three (3) or more years of broking experience preferred
Valid insurance license required 
Must continue to meet Continuing Education requirements for license renewal

SKILLS

Excellent verbal and written communication skills
Good leadership, problem solving, and time management skills
Strong negotiation skills
Working knowledge and understanding of construction accounting
Advanced analytical skills
Good planning, organizational, and prioritization skills
Proficient in Microsoft Office products

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