Description
General Summary:
A brief description of the main purpose for this position.
Commercial Lines Distribution Representatives meet regularly with agency/brokerage distribution partners in pursuit of organic growth opportunities in the small, mid and large size markets. Possess key commercial agency/brokerage relationships, presence and credibility in assigned territory along with a full working knowledge of our products offerings. These relationships will specifically be utilized to support and grow our distribution partner network in the region consistent with NJM's exclusive distribution model. The development of the relationships will be buttressed through regular interactions with the assigned partners through various modes of hospitality.
This is a full time position primarily based in the western Pennsylvania/western New York territory, but may on occasion be asked to come to the corporate office in West Trenton, New Jersey. In addition to the annual base salary likely to fall around the $95,000-$100,000 range, this position has a quarterly and an annual incentive opportunity (5 total incentive opportunities a year, based upon performance).
Essential Duties and Responsibilities: Essential functions of this job are listed below in order of priority. Reasonable accommodations may be made to enable individuals to perform the essential duties. Regular and predictable onsite attendance is an essential function of the job.
Performance Expectations Distribution Representative
Personal Leadership:
• Understanding and execution of the NJM Annual and Long-Term Strategic Plan.
• Actively performs and organizes all components of the sales life cycle from the dissemination of the NJM appetite, developing Partner understanding of that appetite, cultivating new business pipelines from inception through the binding of new business.
• Plan annually with all assigned Partners and reach consensus on aggressive but attainable premium commitments per open location.
• Works in tandem with all assigned Partners through effective communication of NJM initiatives, product updates and appetite evolution.
• Remains current with industry trends, legislation and coverage changes.
Productivity Quota
• Awareness of Quarterly Quota Metrics and regular monitoring of premium goals throughout each quarter.
• Scheduling and executing monthly production meetings with each assigned partner. Most are expected to be in person.
• Scheduling and executing quarterly performance to plan meetings with the leadership of each assigned Partner to review current metrics in relation to the annual planned metrics.
• Sends follow up reports for each meeting within three business days of the meeting.
• Records each production meeting and performance to plan meeting in PDMS.
Productivity Relationships
• Schedules and coordinates resources for kick-off meetings to ensure a smooth onboarding and transition of new risks.
• Works with assigned underwriters and schedules in-person UW introductory meetings with all assigned Partners.
• Schedules a combination of lunches, breakfasts and dinner meetings with all assigned partners throughout the year.
• Schedules relationship building activities with a variety of partners throughout the year. These can include a variety of events including professional sports games, music venues, comedy clubs, outdoor activities etc.
• Regularly works with CAR team and has them included when practical at Production meetings and has them attend aforementioned activities.
Strategic Awareness
• Remains current with trends concerning NJM's lines of business.
• Displays a strong understanding of NJM's Value Proposition.
• Retains a strong working knowledge of NJM's Retro and LD Offerings.
• Demonstrates the ability to dissect competitive plans from other carriers.
• Collaborates with all departments across Commercial Lines to optimize Sales Performance.
Essential Functions:
• Match existing agent relationships and books of business opportunities with those of NJM
• Based on this analysis recommend for appointment new commercial lines distribution partners in the territory. Ultimately through the review process sign up all appropriate agents based on the strength of these current relationships
• Pursue, upsell, cross-sell, recapture opportunities with agencies/brokers
• Coordinate New Business Proposal Meetings on key accounts to agencies and brokers; present NJM optional plans
• Key account pre-renewal discussion with agencies
• Review competitor plans with NJM underwriting to ensure best pricing offered
• Lead annual planning process. Implement and monitor throughout year
• Review underwriting appetite and services with agencies and brokers
• Attend POS (Point of Sale) when possible, with agencies/brokers
• Assist with contracting new agencies/brokers
• Assist with onboarding and terminating agencies/brokers as required
• Maintain agency/broker profiles
• Attend corporate functions including Corporate Giving, Chamber of Commerce and Marketing events
Required Qualifications
Skills, Knowledge and Abilities:
• Sales or Field/Production Underwriting oriented with experience and successful track record with standard commercial lines products in the noted territories
• Ability to communicate orally and in writing with others to explain complex issues
• Full knowledge of all commercial line's standard insurance products and usages
• Ability to manage multiple clients, tasks, and requests
• Adequate knowledge of rating procedures, coverages, and industry operations to effectively manage, maintain, and write assigned client and prospect lists
• Knowledge of insurance markets and reference to markets
• Knowledge of insurance underwriting procedures
• Results oriented with the ability to meet strategic goals as required for the assigned territory
• Excellent analytical, problem resolution, negotiating and project management skills
• Professional, committed, and self-motivated with the ability to focus on daily tasks
• Proficient with Microsoft Office – Outlook, Word, Excel, and Teams
Legal Disclaimer: NJM is proud to be an equal opportunity employer. We are committed to attracting, retaining and promoting a diverse and inclusive workforce that is fully representative of the diversity that exists in the communities in which we do business.
NJM reserves the right at any time to amend, add or delete any aspect of the job description for this position based on business needs.
Compensation: Salary is commensurate with experience and credentials.
Pay Range: $88,176-$111,218Eligible full-time employees receive a competitive Total Rewards package, including but not limited to a 401(k) with employer match up to 8% and additional service-based contributions, Health, Dental, and Vision insurance, Life and Disability coverage, generous PTO, Paid Sick Leave, and paid parental leave in addition to state-mandated leave. Employees may also be eligible for discretionary bonuses.
Legal Disclaimer: NJM is proud to be an equal opportunity employer. We are committed to attracting, retaining and promoting a diverse and inclusive workforce that is fully representative of the diversity that exists in the communities in which we do business.
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