Philadelphia Insurance Companies Broker in Bala Cynwyd, Pennsylvania
Philadelphia Insurance Companies, a member of the Tokio Marine Group, designs, markets and underwrites commercial property/casualty and professional liability insurance products for select industries. We have been in operation since 1962 and are nationally recognized as a member of Ward's Top 50 and rated A++ by A.M.Best.
We are looking for a Broker to join our teamSummary -This position is responsible for brokering out non-PHLY products such as WC as well as PHLY's non-renewed or cancelled business. Extensive interaction with Independent Insurance Agents, Brokers and Carriers. Broad product knowledge of the PHLY's product is needed to properly educate agents on why to place the business with our brokerage. This position also requires excellent customer service capability from a renewal perspective and should maintain 90% renewal retention. Review insurance applications to evaluate, classify and rate individuals and groups for insurance and accept or reject applications within delegated underwriting authority by performing the following duties.A typical day will include the following:Become an AMS Software expert and create AMS software training for future employees.Underwrite and price business according to delegated underwriting authority and guideline-be sure to refer accounts outside of Underwriting authority to the appropriate brokered market manager with recommendations.Communicate with field representatives/independent agents by following Marketing procedures to obtain further information quote rates or explain company underwriting policies.Maintain adequate file documentation and justification for all credits and debits (when applicable).Maintain speed of service objectives.Creating SOP's and documenting all brokered business policies via the Valley Forge Insurance Brokerage sharepoint site.Determine whether to accept, modify or decline risks by following product guidelines. Calculate standard rates and premium charges from approved filings.Examine such documents as application forms, website, brochures and past claims, financial reports and contracts to determine degree of risk from such factors as financial standing and loss experience.Follow all standard Operating/Production procedures and Code of Business Conduct as defined by management making continuous recommendation for improvement.Review and approve changes or questions on coverage or exposures.Responsible for coordination of renewing PHL's books of business work with carrier and agents to rate, quote and issue new business.Follow up with agents to ensure we get the accounts.Enter all accounts into (AMS), run reports monthly.Manage process of renewing accounts 90 days prior to ex-date.Manage organized recall system and filing system on all accounts to obtain daily goals.Collect commissions, pay commissions to agents, keep documentation on each agent.Organize detailed spreadsheet on accounts and report commission payments monthly to CMO (run reports from AMS Software/Contact 21).Goal for the year will be to retain 90% of PHLYs book of Business.
Bachelors Degree required
Current Property and Casualty License required
Sales experience preferred
5 years Broker experience preferred
Tokio Marine Group of Companies (including, but not limited to the Philadelphia Insurance Companies, Tokio Marine Management, Inc., TMNA Services, LLC and First Insurance Company of Hawaii, Ltd.) is an Equal Opportunity Employer. In order to remain competitive we must attract, develop, motivate, and retain the most qualified employees regardless of age, color, race, religion, gender, disability, national or ethnic origin, family circumstances, life experiences, marital status, military status, sexual orientation and/or any other status protected by law.
We offer a comprehensive benefit package, which includes tuition reimbursement and a generous 401K match. Our rich history of outstanding results and growth allow us to focus our business plan on continued growth, new products, people development and internal career opportunities. If you enjoy working in a fast paced work environment with growth potential please apply online.