What are the responsibilities and job description for the Renewal and Service Brokerage Placement Specialist position at Farmers Insurance Group?
We are Farmers!
We are… more than just your favorite commercials. At Farmers, we strive to deliver peace of mind to our customers by providing protection and comprehensive advice and delivering in the moments of truth. That means having people who can help us meet changing customer and business needs. Farmers high-performance culture is focused on results and the people who achieve them. We hold ourselves and others accountable for sustainably growing the business and each other. We seek solutions, own our actions, and grow through discomfort. We see setbacks as opportunities while continuously asking ourselves how we impact our customers.
Farmers is an award winning, equal opportunity employer, committed to the strength of a diverse workforce. We are dedicated to supporting the well-being of our people through our extensive suite of benefits, as well as the well-being of the communities we serve through employee volunteer programs and nonprofit partnerships. Helping others in their time of need isn’t just our business – it’s our culture! To learn more about our high-performance culture and open opportunities, check out www.Farmers.com/careers/corporate and be sure to follow us on Instagram, LinkedIn, and TikTok.
Workplace: Hybrid ( #LI-Hybrid ), Remote ( #LI-Remote )
Farmers believes in a culture of collaboration, creativity, and innovation, which thrives when we have the ability to work flexibly in a virtual setting as well as the opportunity to be together in person. Our hybrid work environment combines the best of both worlds with at least three (3) days in office and up to two (2) days virtual for employees who live within fifty (50) miles of a Farmers corporate office. Applicants beyond fifty (50) miles may still be considered.
Job Summary
- The Brokerage Placement Specialist is responsible for the profitable growth in personal lines business nationwide.
- They are responsible for underwriting, pricing and placement of risks for agents with Admitted and Non-Admitted, Excess and Surplus, markets where binding authority exists.
- They evaluate and place risks with the appropriate brokered carriers based on the individual carriers appetite and underwriting guidelines by working with the carrier and agent.
- With pricing and binding authority of brokered carriers, the Brokerage Placement Specialist will place new business, process renewal contracts and service endorsement requests for agents.
- The role works directly with brokerage carriers to achieve production and loss ratio goals through monthly conference calls and relays pertinent information to team member in daily held team huddles.
Essential Job Functions
- Reviews agent submissions for acceptability, eligibility, classification, proper pricing, and accuracy of application (ACORD or carrier specific) on assigned products and authority levels with the discretion to make exceptions after analyzing each risk with Admitted brokered markets. Reviews and evaluates new and renewal applications for personal and commercial lines, Excess and Surplus, business to develop an understanding of the broad appetite of Kraft Lakes carrier partners.
- Accepts, modifies, or rejects risks, within set authority level, based on a review of business in terms of loss experience, inspection reports, file information, web resources, policyholder tenure, related policies, and nature of risk in accordance with brokered carrier guidelines, standards and compliance. Maintains a submission quality index of 95% or higher and continually makes corrective action recommendations.
- With minimal oversight establishes collaborative relationships with brokerage carriers and agents to understand the external marketplace and underwrite within the established performance standards. With pricing and underwriting authority of multiple carriers evaluates E and S risks for acceptability, pricing exposures accurately, and rating plans for re newal retention. With minimal oversight provides accurate submission and placement documentation for E and S filing including admitted market declinations, exceptions to established guidelines, and/or critical account information relating to the final underwriting decision. Operates in accordance with compliance guidelines and individual state E and S laws. With minimal oversight handles policy maintenance items and other mid-term requests.
- Reviews endorsement requests and authorizes necessary changes to the policys on more complex risks.
- Reviews Loss Control reports and recommendations; partners with the brokerage carriers to ensure loss control compliance. Responsible for driving and ensuring all policy transactions are issued and changes are processed accurately and within Kraft Lakes established SLA. Researches market trends and marketplace competition to prepare submission reports for carrier partners.
Education Requirements
Experience Requirements
Additional Qualification
Property and Casualty license required within 30 days of start.
Benefits
- Farmers offers a competitive salary commensurate with experience, qualifications and location.
o CA Only: $68,640 - $95,480
o CO Only: $56,485 - $82,500
o HI/IL/MN/VT Only: $56,240 - $88,330
o MA Only: $56,240 - $88,330 - o MD Only: $56,240 - $88,330
o NY/DC/Jersey City Only: $60,406 - $95,480
o Albany County: $60,406 - $82,500
o WA Only: $77,969 - $100,375 - Bonus Opportunity (based on Company and Individual Performance)
- 401(k)
- Medical
- Dental
- Vision
- Health Savings and Flexible Spending Accounts
- Life Insurance
- Paid Time Off
- Paid Parental Leave
- Tuition Assistance
Job Location(s): R_US - United States (Hybrid if located within 50 miles of a corporate office)
Anticipated application deadline: At Farmers, the recruitment process is designed to ensure that we find the best talent to join our team. As part of this process, we typically close open positions within 8 to 21 days after posting. If you are interested in any of our open positions, we encourage you to submit your application promptly.
Farmers will consider for employment all qualified applicants, including those with criminal histories, in accordance with the Los Angeles Fair Chance Initiative for Hiring Ordinance or other applicable law. Pursuant to 18 U.S.C. Section 1033, Farmers is prohibited from employing any individual who has been convicted of any criminal felony involving dishonesty or a breach of trust without prior written consent from the state Department of Insurance.
Farmers is an Equal Opportunity Employer and does not discriminate in any employer/employee relations based on race, color, religion, gender, sexual orientation, gender expression, genetic information, national origin, age, disability, marital status, military and veteran's status, or any other basis protected by applicable discrimination laws.
Salary : $56,240 - $88,330
