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IBC Bank · 1 month ago

Producers - Commercial Lines

San Antonio, TX

Full-time

Onsite

New Grad, Entry Level

IBC Bank is a company that values leadership, community engagement, and relationship building. They are currently seeking a Commercial Lines Producer responsible for prospecting, soliciting, quoting, and selling new Commercial Lines accounts while also counseling and marketing to existing clients.

BankingFinancial ServicesInsuranceMortgageVenture Capital

Responsibilities

Identifies and develops insurance prospects and appropriate markets

Responds to referrals quickly and effectively

Pre-qualifies insurance prospects for insurability and quality of risk

Creates and maintains client or prospect lists

Designs insurance plans and recommends coverage to clients

Surveys loss exposure, needs, and possible uninsurable or difficult to insure exposures for clients

Makes sales presentations to prospective and existing clients on new and renewal business

Completes and submits applications and related documentation as necessary

Develops, follows, and completes sales objectives

Requests and delivers policies to insureds

Educates clients concerning agency payment expectations and cancellation procedures

Collects required down payments from insureds for purchases of new, renewal, or upgraded coverages, and obtains signatures on all applications for insureds. All uncollected premiums that are 90 days or older will be charged to Producer

Acknowledges non-standard coverage limitations and binding restrictions to document file and lower errors and omissions exposures

Asks for referral from insureds to help generate new business

Explains coverages and exclusions and documents explanations on automated file for future reference

Develops a book of business that is profitable for both the agency and the carriers

Works with clients to ensure limit and coverage adequacy

Provides needed information and clarification about clients to company personnel, and documents system by transaction date

Creates letters to clients offering coverage, share information and advice regarding insurance matters. Uses these to round out accounts fully

With Account Executive, reviews existing policy coverages, at least annually, to upgrade accounts and remarket, if necessary

Assists service staff to collect client information in preparation of schedules of insurance, summaries, and renewal proposals

Reviews appropriate policy change requests and other account activity. Documents automated file as appropriate. Uses each client contact as an opportunity for coverage review and marketing of need covered. Recommends and helps insureds carry out loss control programs, independently and with company loss control staff

Contacts insureds to collect past due premiums or audit amounts. Handles premium collection through form letters and requests cancellation of policies when necessary. Producer is ultimately responsible for unpaid premiums/audits

Retains assigned percentage of accounts at each renewal

Continues to develop relationships with insureds

Solicits expiration dates for policies not written by agency. Expectations are an average of one expiration date per client serviced

Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact

Actively seeks referrals from current client base to solicit for new business prospects; follows up to generate new business using prospect database and automation system. Expectation is five referrals per week

Accepts and handles any duties/prospects as assigned by agency management

Participate in mandatory sales meetings

Identifies training needs with assistance from Managers. Develops a personal improvement plan, and takes responsibility for learning and improving technical and sales skills regularly

Reads and interprets technical manuals and insurance information from carriers, vendors, publishers, etc

Utilizes the Producer Worksheet

Inputs suspects, prospects, all sales activity into Goldmine Program

Enters client information into the Applied System

All training classes are mandatory

Position requires maintaining records, preparing various forms, verifying information and resolving common problems

Employee must perform other work as required or requested

Qualification

Insurance salesClient relationship managementInsurance product knowledgeInsurance licensingRating procedures knowledgeSales skillsTechnical skillsCommunication skillsProblem-solving skillsOrganizational skills

Required

High school diploma or equivalent

Must have all licenses as required by the State Department of Insurance to discuss and/or sell insurance

Must also be current on all Continuing Education (CE) credits needed to renew license

Full knowledge of insurance products and usages

Adequate knowledge of rating procedures, coverages, and industry operations to effectively manage, maintain, and write assigned client and prospect lists

Full knowledge of insurance markets and reference to markets

Knowledge of insurance rating and underwriting procedures

Ability to understand written and oral communication and to interpret abstract information

Ability to generate new business sales, retain existing business, and to close sales in insurance

Ability to carry out complex tasks with concrete and abstract variables

Ability to utilize computer programs and understand functionality

Ability to drive a vehicle, visit clients, and make related calls to others