Account Executive Officer Senior Underwriter - Commercial Accounts Group

$105,500 - $174,100/Yr

Travelers - Albany, NY

Full-time - Mid Level

Albany, NY

Insurance Carriers and Related Activities

About the position

The Account Executive Officer (AEO) for the Commercial Accounts Group at Travelers Insurance is a pivotal role that focuses on managing a diverse portfolio of guaranteed-cost products tailored for mid-size businesses. This position is integral to the company's commitment to providing comprehensive insurance solutions, including General Liability, Property, Automobile, Workers' Compensation, and Lead Umbrella coverage. The AEO will work closely with agents and brokers to assess customer needs and deliver appropriate coverage for both new and renewal business. This role is characterized by a strong emphasis on relationship-building, technical expertise, and the ability to navigate complex risk scenarios to drive profitability and success for Travelers. As an AEO, you will be responsible for the profitability, growth, and retention of your assigned book of business. This involves underwriting and negotiating complex customer accounts, ensuring that risks are minimized while maximizing profitability. You will cultivate and maintain relationships with internal partners across the organization to create effective sales plans and identify cross-selling opportunities. Additionally, fostering relationships with external partners is crucial; you will regularly meet with agents and brokers to market and sell Travelers products, aiming to write and retain accounts that align with the company's risk appetite. Your role will also include identifying new business opportunities through consultative marketing and sales techniques, as well as developing and executing agency sales plans in collaboration with your Managing Director. The ideal candidate for this position will possess a Bachelor's degree and have six to eight years of relevant underwriting experience, particularly in commercial lines. A deep understanding of commercial lines products, the regulatory environment, and the local insurance market is essential. Strong critical thinking skills are necessary to proactively identify challenges and make informed decisions that align with Travelers' risk appetite. Excellent communication skills are also vital, as you will need to negotiate effectively in challenging situations with agents and brokers. A CPCU designation is preferred, and a minimum of four years of underwriting experience is required.

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 commercial lines.
• Deep knowledge of commercial lines 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 is preferred.
• Four years of underwriting experience is a must.

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 fully funded Pension Plan by Travelers.
• Paid Time Off: Minimum of 20 days of Paid Time Off annually, plus nine paid company Holidays.
• Wellness Program: Access to tools, discounts, and resources for wellness goals, including mental health support.
• Volunteer Encouragement: Matching Gift and Volunteer Rewards program to support charitable contributions.