Business Development Associate

Job Description

SUMMARY:

Reviews, analyzes, approves or rejects complex business within letter of authority. Serve as liaison with company personnel regarding company business opportunities and problem resolution. Responsible for providing temporary assistance to field BDC and providing input when requested as part of the territory's or regions overall agency plan.

RESPONSIBILITIES / TASKS:

• Calculates, prepares and develops premium quotations using corporate underwriting guidelines within letter of authority
• Determines underwriting eligibility for prospective policyholders and develops appropriate pricing for new business, renewals, and endorsements
• Analyzes and reviews prospective accounts for insurability and accepts or rejects within letter of authority.
• Supports agency relationships.
• Supports agency plans in cooperation with other staff.
• Addresses agents' and policyholders' concerns/needs.
• Develops new business and retention of existing business in a given territory or region.
• Explains and emphasizes benefit of workers' compensation insurance products and services to customers (agents and policyholders).
• Works with all internal departments to resolve problems and maintain company relations.
• Participates as necessary on special committees and task forces.
• Interprets and develops territory reports which reflect the status of the territory.
• Participates in promotional plans for both Accident Fund and agent activities.
• Analyzes and reviews production and loss information for agents.
• Prepares periodic reports as requested
• Researches and coordinates responses to agents, policyholders and regulatory entities
• Analyzes agency performance and develop corrective action plans as needed to correct poor performance.
• Analyze accounts to determine exposure and proper pricing
• Gathers competitive and product information from the field
• Responsible for profitability of territory.
• Trains agency employees on the use of company specific automation systems
• Reviews loss trends and develops action plans to correct problem areas
• Supports schedule for large account service plans with claims, loss control, premium audit, and other departments as needed
• Provides input for agency advisory council meetings
• Assists in the development of regional goals

This position description identifies the responsibilities and tasks typically associated with the performance of the position. Other relevant essential functions may be required.

EMPLOYMENT QUALIFICATIONS:

EDUCATION OR EQUIVALENT EXPERIENCE:


Bachelor's degree in marketing, insurance or related field. Combinations of relevant education and experience in the following areas may be considered in lieu of a degree: Underwriting, marketing, loss prevention, and/or auditing. Continuous learning required, as defined by the Company's learning philosophy. Certification, or progress toward, highly preferred and encouraged.

EXPERIENCE:


One-year of relevant experience which provides the necessary skills, knowledge and abilities is required. Agency management and marketing experience preferred or with proper education, successful completion of the trainee program.

SKILLS/KNOWLEDGE/ABILITIES (SKA) REQUIRED:

• Ability to perform other assignments at locations outside the office.
• Ability to exercise good judgment in evaluating and determining the proper pricing for prospective policyholders using corporate underwriting guidelines by accepting or rejecting risks for the purposes of issuing workers' compensation insurance coverage
• Ability to initiate insurance transactions in compliance with all policies, procedures, legal and ethical guidelines.
• Ability to negotiate while establishing a personal rapport and maintaining an effective working and client relationship.
• Knowledge of workers' compensation insurance and the independent agency system.
• Ability to apply creative and persuasive techniques to generate new, and maintain, existing business and ability to be creative when presented with unique situation.
• Ability and proficiency in the use of computers and company standard software.
• Strong interpersonal skills and ability to create and maintain mutually beneficial relationships.
• Ability to work with minimum supervision and balance demands of a field position by supporting agents while keeping current with underwriting workload.
• Ability to support agency relationships and to make sound underwriting decisions.
• knowledge of appropriate jurisdictional workers compensation laws
• Ability to calculate expected pricing, dividends, and premium quotations for agents and policyholders
• Ability to analyze territory or region in order to identify problems and take the appropriate corrective action
• Ability to comprehend the consequences of various problem situations and address them or refer them for appropriate decision making.
• Ability to effectively exchange information clearly and concisely, and present ideas, reports, facts and other information, and respond to questions as appropriate.
• Ability to analyze and solve practical problems which deal with a variety of variables.
• Ability to make and implement competent, independent decisions and to build consensus.
• Ability to understand and implement audit procedures and processes for agencies.
• Ability to relocate.

WORKING CONDITIONS:

Work is performed in the office and occasionally in the field with minimal hazards. Minimal travel is required with occasional overnight stays. May be required to lift and carry computer equipment and other marketing promotional items weighing up to 35 lbs. Must be willing and able to relocate.


PAY RANGE:

"Actual compensation decision relies on the consideration of internal equity, candidate's skills and professional experience, geographic location, market and other potential factors. It is not standard practice for an offer to be at or near the top of the range, and therefore a reasonable estimate for this role is between $54,000 and $90,550."

We are an Equal Opportunity Employer. We will not tolerate discrimination or harassment in any form. Candidates for the position stated above are hired on an "at will" basis. Nothing herein is intended to create a contract.

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About the Team

Meadowbrook Inc