Territory Manager, Business Development - Surety (Large Commercial)

Nationwide•Town of Wirt, NY

4d•$108,000 - $162,000•Remote

About The Position

This position is for a Territory Manager, Business Development - Surety (Large Commercial) within Nationwide's Property and Casualty team. The role is based in a territory that includes the Philadelphia metro area. The Surety Underwriting team is looking for individuals with critical thinking, communication skills, initiative, ambition, a broad skill set including marketing, finance, and risk analysis, and a solutions-oriented mindset. The company is technology savvy and motivated to grow its business with excellent career advancement opportunities.

Requirements

Undergraduate degree in business or a related field preferred.
Seven years of progressively responsible surety underwriting experience preferred.
Expertise in markets consistent with our underwriting appetite and product portfolio preferred.
Thorough knowledge of surety value proposition and ability to communicate to producers and principals.
Working knowledge of state laws and regulations required.
Expert level of knowledge of surety underwriting and familiarity with surety forms and the requirements of the territory.
Thorough working knowledge of company marketing/underwriting standards and philosophies.
Excellent knowledge of surety products and programs in order to teach aspects of material to others.
In-depth working knowledge of effective sales & marketing and agency relationship management techniques.
Excellent interpersonal and sales skills.
Ability to build and maintain cooperative and mutually rewarding internal and external partnerships.
Ability to perform duties with independent judgment with underwriting authority and company underwriting standards.
Demonstrated decision-making ability required in day-to-day operations where there may be unclear or competing priorities, including evaluating and recommending solutions to customer service, work processing, underwriting selection and rating, and best practices compliance.
Strong drive for results.
Valid driver’s license and safe driving record are required.

Nice To Haves

Pursuit of technical insurance coursework such as AFSB is highly desirable.

Responsibilities

Serve as the primary relationship manager within a territory for complex surety business.
Market, manage, and underwrite a new and renewal surety book through direct contact with select agencies or brokers.
Drive profit and premium to meet financial goals and objectives through development, negotiation, and execution of business plans.
Lead and influence agencies through the creation of sales strategies and implementation of sales processes and practices that drive new sales, increase shelf space, profit, and customer retention.
Collaborate with all lines of business to support and increase the overall Nationwide presence.
Underwrite accounts based on authority level granted to the role and underwriting appetite.
Monitor market conditions and competitive landscape.
Research risk, environment, and factors necessary to win accounts.
Analyze the quality and quantity of risks underwritten and prepare reports.
Evaluate complex risk exposures and review financial statements, credit reports, and other underwriting documents.
Underwrite new business, select acceptable risks, and reject unacceptable business.
Analyze regional underwriting performance experience, identify territory-level problems, and propose action plans.
Achieve production, profitability, and service objectives.
Accept, reject, or modify new surety business of a more complex nature within delegated authority levels and company guidelines.
Price business according to company underwriting and pricing guidelines.
Manage workflow and intricacies of underwriting more complex assigned work, utilizing company tools and systems to meet service level agreements.
Ensure file handling quality and workflow efficiency with a thorough understanding of overall surety strategic direction and operating plans.
Manage large, complex work and coordinate work with and through others to meet service level agreements.
Drive robust agency business planning to deliver detailed performance plans with actions, accountabilities, and scheduled performance checkpoints.
Ensure strong territorial objectives to maximize profit and pipeline management.
Proactively identify opportunities for all lines to cross-sell and refer to appropriate business leaders.
Identify prospects and recommend new agency appointments.
Market company’s products and services to help drive agency and company results, including all enterprise products.
Assist agencies with strategies for pipeline management and to develop new business in targeted industries and preferred markets.
Respond effectively to assess accounts and develop business propositions that win the business.
Proactively work with agents, accounts, and internal partners to resolve business issues and make recommendations.
Share understanding of organizational capabilities and opportunities to drive maximum value of relationships.
Consult regarding appetite, acceptability, terms, conditions, pricing, and sales techniques of large or unique business.
Provide industry trend observations to leadership.
Consult with agencies to improve retention and profitability.
Effectively communicate with agencies to establish Nationwide as the surety provider of choice for the territory.
Communicate product, technology changes, and company objectives.
Communicate and collaborate actively with leadership to share industry trends and field underwriting experience.
Complete agency visits as appropriate to develop new accounts, service existing accounts, review agency performance, and enhance agency relationships.
Develop and maintain strong business relationships with agencies, producers, and key groups.
Lead delivery of appropriate customer service levels.
Follow up and ensure proper handling of escalated customer service requests.
Ensure that tools, training, and support are in place to positively impact success for assigned agencies.
Identify and communicate training needs and opportunities.
Participate in program and product orientation meetings as the underwriting subject matter expert.
Provide professional development knowledge and insight to team members.
May help mentor new field underwriters and provide coaching.
Manage heavy workload effectively and backup other team members as needed.
Monitor business plan results to determine performance and development of any action plans.
Review business in process, lost business, and drive implementation of business plan.
May perform other responsibilities as assigned.