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Merchants Bonding Company · 1 day ago

Territory Contract Underwriter

West Des Moines, IA 50266

Full-time

Hybrid

Mid, Senior Level

$87K/yr - $130K/yr

3+ years exp

Merchants Bonding Company is hiring professionals who value clarity, collaboration, and opportunities to make an impact. The Territory Contract Underwriter evaluates and underwrites contract surety bonds, contributing to a profitable surety operation and marketing of other business lines.

Insurance

Growth Opportunities

Responsibilities

Determines the acceptability of surety risks, based on the Merchant’s guidelines and marketing strategy. Operates within the authority established by the Senior Vice President – Contract Underwriting

Reviews agent submissions/applications and assures that business statements, personal statements, and work-on hand schedules are analyzed and noted properly. Accurately evaluates for future profit or loss potential and verifies appropriate rates for the risk. Obtains background information and references in order to analyze and properly evaluate the risk. Prepares contract bond quotations. Responds to questions regarding the proposed program and rate

Creates year end updates on accounts and provides direction to the agent regarding further handling of the account

Assures an accurate count of our contract bond backlog by keeping existing files and the status of existing bonds up to date. Maintains current File Notes, reflecting significant events and important information regarding the account

Reviews specific contract bond forms and contracts to assess acceptability of risk. Recommends potential contract wording or revisions to make the risk more acceptable to the Company

Presents account terms and conditions properly so they are easily distinguishable and understood

Maintains current data on Underwriting Information Sheet for all major accounts

Serves as backup to other team underwriters in their absence to respond to client questions and issues

Works effectively within their assigned level of authority. Prepares documented recommendations on requests that are outside their level of authority

Prepares quarterly team production reports and travel recaps based on team specifications

Maintains positive relationships with existing agencies and major accounts, including regular on-site visits. Continues to build premium and business opportunities with key agents and accounts. Solicits feedback regarding our service levels and performance

Maintains current account and relationship information. Completes meeting summaries in a timely fashion

Develops new business opportunities by prospecting for new agency relationships. Effectively utilizes marketing materials in presentations, proposals, and other marketing efforts

Represents Merchants Bonding and their interests professionally at industry functions. Networks with industry peers and experts to stay up-to-date on industry developments and potential legislative issues

Plans and manages effective meetings with agents and/or contractors using effective meeting management tools

Establishes and achieves quarterly and annual production goals. Typically handles up to $1.5 million in production