Account Executive Officer, Ocean Marine Underwriter

$105,500 - $174,100/Yr

Travelers - Edison, NJ

Full-time - Mid Level

Edison, NJ

Insurance Carriers and Related Activities

About the position

The Account Executive Officer (AEO) for Ocean Marine at Travelers is a pivotal role that focuses on managing the profitability, growth, and retention of an assigned book of business within the Ocean Marine sector. This position requires a deep understanding of ocean cargo, marine liabilities, hull and protection indemnity, and yacht coverage, specifically tailored for small and mid-size businesses. The AEO will partner with agents and brokers to provide coverage for both new and renewal business, ensuring that customer needs are met effectively. As a technical resource, the AEO is expected to be decisive and detail-oriented, with a strong ability to build relationships both internally and externally to drive results. In this role, the AEO will independently assess complex risks and sell Travelers' products in challenging markets, contributing significantly to the company's profitability and success. The position involves regular travel to meet with agents and brokers, fostering relationships that are crucial for marketing and selling Travelers' products. The AEO will also be responsible for developing and executing agency sales plans, often collaborating with the Managing Director to create regional or group sales strategies. Additionally, the AEO may assist in training and mentoring less experienced Account Executives, ensuring a knowledgeable and capable team. Overall, the AEO for Ocean Marine is a dynamic position that combines technical underwriting expertise with strategic sales and relationship management, aimed at achieving the company's goals in the marine insurance market.

Responsibilities

• Manage the profitability, growth, and retention of an assigned book of business.
• Underwrite and skillfully negotiate complex customer accounts to minimize risk and maximize profitability.
• Cultivate and maintain relationships with internal partners within the business unit and across the enterprise to create sales plans and identify cross-selling opportunities.
• Foster and maintain relationships with external partners by regularly meeting in person with agents and brokers to market and sell Travelers products.
• Identify and capture new business opportunities using consultative marketing and sales skills.
• Independently develop and execute agency sales plans and frequently partner with your Managing Director to develop region/group sales plans.
• Assist in the training and mentoring of less experienced Account Executives.
• Perform other duties as assigned.

Requirements

• Bachelor's degree.
• Six to eight years of relevant underwriting experience with experience in Ocean Marine.
• Deep knowledge of Ocean Marine products, the regulatory environment, and the local insurance market.
• Strong critical thinking skills with the ability to proactively identify underwriting, marketing, or financial challenges and analyze available information to make timely decisions in alignment with our risk appetite.
• Excellent communication skills with the ability to successfully negotiate in difficult situations with agents and brokers.
• CPCU designation.
• Four years of underwriting experience.

Benefits

• Health Insurance: Coverage for employees and their eligible family members from the first day of employment.
• Retirement: 401(k) matching contributions dollar-for-dollar up to the first 5% of eligible pay, subject to an annual maximum, and a Pension Plan that is 100% funded by Travelers.
• Paid Time Off: Minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
• Wellness Program: Tools and resources to achieve wellness goals, including access to professional counseling services and life coaching.
• Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable contributions.