: Professional Lines – Associate Broker
I. JOB SUMMARY
We are a successful Managing General Agency (MGA) and Wholesale Broker looking for a dedicated Broker to join our organization. This position handles a book of business, and a qualified individual will need to be able to both underwrite and serve as a broker depending upon the account. In this position there is a great deal of email, phone, and overall computer work.
II. MINIMUM QUALIFICATION OR EQUIVALENTS
Prior Professional Lines experience of 1-3 years or the equivalent
Effective verbal and written communication skills
Ability to work independently in a fast-paced team environment.
Must be extremely detailed-oriented and possess critical thinking skills.
Computer skills, including proficiency in Microsoft Office
Basic math knowledge, ability to compute rates, ratios, and percentages.
Ability to prioritize tasks and ensure that deadlines are met in connection with department goals.
Proficiency in insurance terminology
The ability to review applications and determine the appropriate data/information required to secure a quote.
Must have completed or be currently participating in educational training with an emphasis in Professional Lines and/or have been signed-off on by underwriter/manager to handle accounts independently within a specified premium threshold or coverage-line.
III. ORGANIZATIONAL RELATIONSHIPS
Reports to: Professional Lines Manager
IV. WORKING CONDITIONS AND EFFORT
Work in typical office setting, regularly subject to extended/flexible hours. This position is full-time, Monday-Friday 40 hours per week.
V. CONTACT WITH OTHERS
Frequent and important contacts with carriers, producer customers, outside agencies, and staff
VI. EQUIPMENT USED/SPECIAL SKILLS REQUIRED
Computer system and phone – more important are interpersonal and negotiation skills. Proficient in Microsoft software, Internet, emailing and good overall computer skills required.
VII. JOB DUTIES
The following description of job responsibilities and standards are intended to reflect the major responsibilities and duties of the job but is not intended to describe minor duties or other responsibilities assigned from time to time. The described duties are not all inclusive.
PRIMARY JOB RESPONSIBILITIES
Effectively communicate information to both internal and external customers and ensure that standards of excellence are maintained.
Assist in developing, enhancing, and maintaining standards and processes and procedures as required.
Participate in ongoing training and educational opportunities with an emphasis in professional lines.
Assist in training, directing, and delegating of work to assistants as required.
Maintain a book of assigned renewals.
Move or market accounts with the underwriter/broker’s guidance as needed.
Work on new business accounts with underwriter/broker review and approval as needed and/or required.
Maintain electronic files in accordance with the company’s guidelines. Ensure that each risk is in the system correctly and completely.
Refer new and renewal files and broke accounts including a summary and recommended course of action for accounts falling outside of underwriting authority and/or carrier guidelines as needed.
Follow carrier issuance instructions for new and renewal policies, endorsements, and notices of cancellation, non-renewal and offers to renew on those transactions that are handled in-house or seek to obtain new terms from other carriers when necessary.
Request & process binders for in-house or carrier issued binders and follow up on outstanding subjectivities until the policy is issued.
Process endorsements.
Review policies to confirm issued accurately and in compliance with underwriting guidelines, or policies issued by carrier are correct and address discrepancies as needed.
Review and evaluate inspections within established guidelines to ensure accuracy of premium basis exposures. Correspond with agents regarding inspectors’ recommendations as necessary.
Work with carrier underwriters to determine pricing, coverage, and acceptability of risks.
Gather any additional information needed by the carrier and serve as the liaison between the carrier and retail agent.
Create, analyze, and interpret data from various systems or sources and underwriting resources to determine the degree of risk for an applicant from such factors as financial standing, business operations and loss experience.
Maintain familiarity with surplus lines tax calculations and state filing requirements.
Answer phone calls regarding all aspects of business. Document all conversations and delegate or follow up on work for each inquiry. Assist these customers to correct departments.
Maintain confidentiality with discretion and integrity with both internal and external information.