Territory Manager, Business Development - Surety (Large Commercial)

Nationwide

Full-time - Mid Level

Remote

Insurance Carriers and Related Activities

About the position

As a Territory Manager in Business Development for Surety at Nationwide, you will play a pivotal role in managing and underwriting a complex surety book within your designated territory. This position is designed for individuals who thrive in a dynamic environment where critical thinking and communication skills are essential. You will be responsible for establishing and nurturing relationships with select agencies and brokers, driving profit and premium to meet financial goals through the development and execution of strategic business plans. Your role will involve collaborating with various lines of business to enhance Nationwide's presence and support overall business growth. In this position, you will monitor market conditions and the competitive landscape, conducting thorough research to understand the risks and factors necessary to win accounts. You will analyze the quality and quantity of risks underwritten, preparing detailed reports and ensuring that financial statements and other underwriting documents are reviewed meticulously. Your expertise will be crucial in underwriting new business, selecting acceptable risks, and pricing them according to company guidelines. You will also be responsible for managing workflow and ensuring that all underwriting processes meet service level agreements. Your responsibilities will extend to driving agency business planning, ensuring that performance plans are detailed and actionable. You will proactively identify opportunities for cross-selling and recommend new agency appointments. Additionally, you will market the company's products and services, assisting agencies in developing new business strategies and responding effectively to account assessments. Your ability to communicate effectively with agencies will establish Nationwide as the surety provider of choice in your territory. As part of your role, you will also be expected to complete agency visits to develop new accounts, service existing ones, and enhance relationships. You will lead the delivery of customer service levels, ensuring that escalated requests are handled appropriately. Furthermore, you will identify training needs and opportunities for assigned agencies, participating in orientation meetings as the underwriting subject matter expert. Your ability to manage a heavy workload and monitor business plan results will be essential in aligning with underwriting philosophies and performance expectations.

Responsibilities

• Monitor market conditions and competitive landscape to gather necessary information for account acquisition.
• Analyze quality and quantity of risks underwritten and prepare reports accordingly.
• Accurately evaluate complex risk exposures and review financial statements and credit reports.
• Underwrite new business, select acceptable risks, and price according to guidelines.
• Manage workflow and intricacies of underwriting complex assigned work.
• Drive agency business planning to deliver detailed performance plans with actions and accountabilities.
• Market company's products and services to drive agency and company results.
• Proactively resolve business issues with agents, accounts, and internal partners.
• Communicate effectively with agencies to establish the company as the surety provider of choice.
• Complete agency visits to develop new accounts and enhance agency relationships.
• Lead delivery of appropriate customer service levels and ensure proper handling of escalated requests.

Requirements

• Undergraduate degree in business or a related field preferred.
• Seven years of progressively responsible surety underwriting experience preferred.
• Pursuit of technical insurance coursework such as AFSB is highly desirable.
• Thorough knowledge of surety value proposition and ability to communicate to producers and principals.
• Working knowledge of state laws and regulations required.
• Expert level of knowledge of surety underwriting and familiar with surety forms and requirements.
• Excellent interpersonal and sales skills with the ability to build and maintain partnerships.
• Demonstrated decision-making ability in day-to-day operations with competing priorities.

Nice-to-haves

• Bilingual Spanish/English is a plus.
• Experience in marketing, finance, and risk analysis.

Benefits

• Medical, dental, and vision insurance coverage.
• Life insurance and short/long term disability coverage.
• Paid time off with a minimum of 18 days per year, pro-rated quarterly based on hire date.
• Nine paid holidays and additional paid time off for Lifetime and Unity Day.
• 401(k) with company match and company-paid pension plan.
• Business casual attire and more.