Job Title: Binding Authority Administrator
Job ID: 07089
Division: Reins/B&A Ins Solutions
Work Location(s): United States-Wisconsin-Madison
Full/Part Time: Full-Time
Company Information
Since 1927, American Family Insurance has been committed to the dreams of our customers and our employees. You can protect dreams and pursue yours with a meaningful career that offers a wide variety of rewards. American Family Insurance is continually recruiting talented, customer-focused innovators to help drive our organization forward. Our fun, friendly and welcoming culture will allow you to thrive and to reach new levels of success. Are you ready to take the first step on the path to realizing your dreams? Visit jobs.amfam.com to learn more.
Position Objective
This position is responsible for quoting, binding and issuing policies for third party carrier business in alignment with corporate goals and objectives. Work closely with internal sales teams on specialty binding authority business. Develops strong relationships with carriers with a focus on premium goals and profitability.
Primary Accountabilities
- Risk Analysis (70%)
- Develops, analyzes and evaluates information and exposures on complex risks for third party insurance carriers. Evaluates risk characteristics and trends for appropriate selection of coverages and appropriate pricing.
- Uses risk characteristics and trends to guide individual risk pricing, coverage, terms and conditions.
- Reviews and analyzes claims and loss history, taking into consideration appropriate action on individual accounts and/or program or territory.
- Assists with the research, development and presentation of new programs.
- B&A Binding Authority Research and Best Practices (20%)
- Provides underwriting performance expertise and perspective to B&A Insurance Solutions management team on an ongoing basis.
- Serves as the expert resource within B&S Insurance Solutions for data integration, interpretation and presentation.
- Uses expert knowledge of surplus lines and competitive markets to proactively identify trends and root causes that affect profit and growth. Evaluates effect on business results and influences actions of B&A Insurance Solutions leadership and insurance carrier partners.
- Works with divisional leadership to develop management and executive level reports and presentations as requested.
- Identifies opportunities to improve business practices or procedures. Monitors effectiveness of current products and recommends changes and/or enhancements to leadership.
- Develops, implements and monitors long term and short term strategies for creation, maintenance, enhancement, and replacement of risk pricing, terms and conditions.
- Industry Research & Relationship Management (10%)
- Develops and cultivates positive business relationships with co-workers, agents, and carriers.
- Develops strong knowledge of industry and competitor activities by attending industry functions while building and maintaining relationships with peers within the industry.
- Develops strong knowledge of industry and competitor activities by attending industry functions while building and maintaining relationships with peers within the industry.
- Utilizes business relationships and personal acumen to bring new innovative product ideas to management for use in distribution model with carrier partners.
Job Competencies
- Achieve Results
- Be Accountable
- Maximize Customer Experience
- Business Acumen
- Innovation
- Negotiation
- Relationship Building
- Strategic Thinking
Position Details
-
E/S (Excess and Surplus) lines experience required
- Commercial lines insurance experience preferred
- Property and Casualty insurance licenses preferred
Specialized Knowledge and Skills Requirements
- Demonstrated experience developing and cultivating relationships with carriers and agents.
- Demonstrated experience performing complex financial, actuarial or business analysis.
- Demonstrated experience using carrier quoting engines and dynamic pricing systems.
- Demonstrated experience with product innovation.
- Extensive knowledge and understanding of underwriting philosophy and practices.
- Solid knowledge and understanding of independent agency systems and economics.
- Solid knowledge and understanding of surplus and specialty insurance.
- Strong knowledge of insurance industry and insurance-related financial concepts.
Benefits/Job Contingencies
We offer a comprehensive benefits package that includes health, life and dental insurance, a 401(K) plan, paid holidays, vacation and sick leave and the opportunity for career development. If you would like to put your career in motion apply online today!
A career move to join American Family Insurance may also mean a physical move for you. If you are selected for an interview, information will be provided on the level of relocation assistance available during the interview.
Offer to selected candidate will be made contingent on the results of background checks and signing a non-disclosure agreement for proprietary information, trade secrets and inventions.
CB1
GIJ
LI:MN1
Please review the job requirements.
Job ID: 07089
Division: Reins/B&A Ins Solutions
Work Location(s): United States-Wisconsin-Madison
Full/Part Time: Full-Time
Company Information
Since 1927, American Family Insurance has been committed to the dreams of our customers and our employees. You can protect dreams and pursue yours with a meaningful career that offers a wide variety of rewards. American Family Insurance is continually recruiting talented, customer-focused innovators to help drive our organization forward. Our fun, friendly and welcoming culture will allow you to thrive and to reach new levels of success. Are you ready to take the first step on the path to realizing your dreams? Visit jobs.amfam.com to learn more.
Position Objective
This position is responsible for quoting, binding and issuing policies for third party carrier business in alignment with corporate goals and objectives. Work closely with internal sales teams on specialty binding authority business. Develops strong relationships with carriers with a focus on premium goals and profitability.
Primary Accountabilities
- Risk Analysis (70%)
- Develops, analyzes and evaluates information and exposures on complex risks for third party insurance carriers. Evaluates risk characteristics and trends for appropriate selection of coverages and appropriate pricing.
- Uses risk characteristics and trends to guide individual risk pricing, coverage, terms and conditions.
- Reviews and analyzes claims and loss history, taking into consideration appropriate action on individual accounts and/or program or territory.
- Assists with the research, development and presentation of new programs.
- B&A Binding Authority Research and Best Practices (20%)
- Provides underwriting performance expertise and perspective to B&A Insurance Solutions management team on an ongoing basis.
- Serves as the expert resource within B&S Insurance Solutions for data integration, interpretation and presentation.
- Uses expert knowledge of surplus lines and competitive markets to proactively identify trends and root causes that affect profit and growth. Evaluates effect on business results and influences actions of B&A Insurance Solutions leadership and insurance carrier partners.
- Works with divisional leadership to develop management and executive level reports and presentations as requested.
- Identifies opportunities to improve business practices or procedures. Monitors effectiveness of current products and recommends changes and/or enhancements to leadership.
- Develops, implements and monitors long term and short term strategies for creation, maintenance, enhancement, and replacement of risk pricing, terms and conditions.
- Industry Research & Relationship Management (10%)
- Develops and cultivates positive business relationships with co-workers, agents, and carriers.
- Develops strong knowledge of industry and competitor activities by attending industry functions while building and maintaining relationships with peers within the industry.
- Develops strong knowledge of industry and competitor activities by attending industry functions while building and maintaining relationships with peers within the industry.
- Utilizes business relationships and personal acumen to bring new innovative product ideas to management for use in distribution model with carrier partners.
Job Competencies
- Achieve Results
- Be Accountable
- Maximize Customer Experience
- Business Acumen
- Innovation
- Negotiation
- Relationship Building
- Strategic Thinking
Position Details
-
E/S (Excess and Surplus) lines experience required
- Commercial lines insurance experience preferred
- Property and Casualty insurance licenses preferred
Specialized Knowledge and Skills Requirements
- Demonstrated experience developing and cultivating relationships with carriers and agents.
- Demonstrated experience performing complex financial, actuarial or business analysis.
- Demonstrated experience using carrier quoting engines and dynamic pricing systems.
- Demonstrated experience with product innovation.
- Extensive knowledge and understanding of underwriting philosophy and practices.
- Solid knowledge and understanding of independent agency systems and economics.
- Solid knowledge and understanding of surplus and specialty insurance.
- Strong knowledge of insurance industry and insurance-related financial concepts.
Benefits/Job Contingencies
We offer a comprehensive benefits package that includes health, life and dental insurance, a 401(K) plan, paid holidays, vacation and sick leave and the opportunity for career development. If you would like to put your career in motion apply online today!
A career move to join American Family Insurance may also mean a physical move for you. If you are selected for an interview, information will be provided on the level of relocation assistance available during the interview.
Offer to selected candidate will be made contingent on the results of background checks and signing a non-disclosure agreement for proprietary information, trade secrets and inventions.
CB1
GIJ
LI:MN1
Please review the job requirements.