BITCO Corporation, headquartered in Davenport, Iowa, is seeking an Assistant Vice President of Underwriting for our East Region. With 11 branch offices in 10 states, BITCO provides quality insurance services to special industries including construction, forest products and oil & gas.
Position Summary:
This position oversees the Underwriting activities within our East region, which consists of four branch offices with full service underwriting personnel in each location. Working with local Underwriting Managers, this position provides guidance, support, and direction to achieve targeted business objectives.
Primary Responsibilities:
- In conjunction with local Underwriting Managers and/or Supervisors, directs and supervises the work of assigned Underwriting teams, including the quality, quantity and timeliness of work product.
- Oversees underwriting practices carried out by underwriting personnel in the assigned region, including directing the planning and achievement of underwriting goals in the assigned programs of business.
- Formulates, plans and achieves sales budgets and objectives for the region, including setting and achieving premium and loss ratio goals, agency and prospecting calls and business forecasting.
- Underwrites or provides guidance in underwriting large or unusual risks which require a high level of technical knowledge and skill in product and industry.
- Helps ensure effective agency relationships, which may include prospecting for new agencies, agency appointment, growth and development, maximization of agency profit sharing opportunities and credit management; evaluating agency factors, including agency personnel, line diversification, loss ratio, agency book of business, volume and profit potential and which agencies to appoint or terminate.
- Maintains current company and department procedures. Assigns work, provides training and feedback to team members, and conducts timely and appropriate evaluations of job performance in the department.
- Makes decisions within stated levels of authority and company guidelines, seeks exceptions to guidelines as needed when supported by appropriate data.
- Maintains a high level of awareness and understanding of sales and marketing innovations, changes and strategies.
- Travels as necessary to perform sales and marketing activities, maintain territory, attend meetings, or for other reasons deemed necessary to fulfill position requirements
- As a management representative, consistently acts in the best interest of BITCO and provides leadership and communication to actively promote BITCO's mission, values, and culture.
- Performs other duties as assigned
Qualifications:
- Our preferred candidate will have the following:
- Bachelor's Degree in Finance, Insurance, Risk Management, or other Business related field
- 8-10+ years of industry experience in the following areas:
- Commercial Underwriting in the Construction, Forest Products, Manufacturing, and/or Oil & Gas industries
- Underwriting New & Renewal Business – Determining pricing and understanding commercial lines policy forms and coverages
- Analyzing & Managing Exposures – Developing action plans to manage risks and changes during a policy period
- Agency Management – Growth and development; prospecting; appointment; and maximization of opportunities and responsibilities
- External Sales – Cultivating new business while demonstrating retention of current customers through presentations to agencies and customers
- 5+ years' experience in supervising or managing an Underwriting team
- Demonstrated proficiency in recognizing key underwriting issues and taking appropriate action on developed information
- Excellent communication skills with the ability to present information in an effective manner.
- Chartered Property Casualty Insurance (CPCU) or similar professional designation highly regarded
- Must be willing to travel, as required, to maintain territory and scope of responsibility; A valid driver's license is required.
Benefits:
- Competitive salary and benefits
- Paid vacation and 12 paid holidays a year
- Health, dental, and vision insurance
- Company paid life insurance – 2x annual earnings
- Old Republic 401(k) Savings and Profit Sharing Plan
- Education and training opportunities
- Insurance designations encouraged with financial assistance available
- Daily two-hour flexible start and end time for 7.5-hour workday
- Employee Fitness Program