Territory Manager, Business Development - Contract Surety (National Bond Center) at Nationwide

Ohio, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, Property and Casualty, SuretyIndustries

Requirements

Passionate about helping people protect what matters most, innovating, and simplifying processes for customer value
Strong critical thinking and communication skills
Ability to contribute individually and collaboratively
Initiative, ambition to grow and learn, broad skill set including marketing, finance, and risk analysis
Solutions-oriented mindset, technology savvy, highly motivated
Preferably based in Northern Ohio or Western Pennsylvania; also consider VA, MD, NJ, CT, or MA
Experience or focus in transactional contract surety

Responsibilities

Monitors market conditions, competitive landscape, and confirms information gathered within market space
Researches risk, environment, and factors necessary to win the account
Analyzes quality and quantity of risks underwritten and prepares reports accordingly
Accurately evaluates complex risk exposures and ensures review of financial statements, credit reports, bank, and other underwriting documents
Underwrites new business, selects acceptable risks to class and price according to guidelines, and rejects unacceptable business
Analyzes regional underwriting performance experience, identifies problems on a territory level, and proposes action plans to address/rectify those situations
Achieves production, profitability, and service objectives
Within delegated authority levels and company guidelines, accepts, rejects, or modifies new surety business of a more complex nature to ensure profitability
Prices business according to company underwriting and pricing guidelines, reviewing multiple variables, leveraging agency relationships, underwriting tools, and evaluation of exceptions
Manages workflow and intricacies of underwriting more complex assigned work, utilizing company tools and systems to meet service level agreements
Ensures file handling quality and workflow efficiency with a thorough understanding of overall surety strategic direction and operating plans
Manages large, complex work and coordinates work with and through others to meet service level agreements
Drives robust agency business planning to deliver detailed performance plans with actions, accountabilities, and scheduled performance checkpoints
Ensures strong territorial objectives to maximize profit and pipeline management
Proactively identifies opportunities for all lines of business
Acts as primary relationship manager within a territory for more complex surety business
Markets, manages, and underwrites a new and renewal surety book through direct contact with select agencies or brokers
Drives profit and premium to meet financial goals through development, negotiation, and execution of business plans
Leads and influences agencies through creation of sales strategies and implementation of sales processes and practices that drive new sales, increase shelf space, profit, and customer retention
Collaborates with all lines of business to support and increase overall Nationwide presence

Skills

Surety Underwriting

Business Development

Risk Analysis

Marketing

Finance

Sales Negotiation

Territory Management

Account Underwriting

Sales Strategies

Customer Retention

Nationwide

Provides insurance and financial services

About Nationwide

Nationwide provides insurance and financial services to individuals and businesses across the United States. Their product offerings include auto, home, life, and commercial insurance, as well as retirement and investment solutions. The company operates by underwriting insurance policies and managing investment portfolios, earning revenue through premiums, investment income, and fees for financial services. What sets Nationwide apart from its competitors is its focus on leveraging technology to improve claims processing and policy management, along with its commitment to customer service. Additionally, Nationwide partners with organizations to offer financial education resources, particularly for retirees, aiming to ensure financial security and protect the futures of its clients.

Columbus, OhioHeadquarters

1925Year Founded

$769.7MTotal Funding

N/ACompany Stage

Consulting, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Paid Vacation

Paid Holidays

401(k) Retirement Plan

401(k) Company Match

Risks

Competition from insurtech startups like Nexar may challenge Nationwide's market share.

AI-driven platforms like Planck could disrupt traditional insurance models.

Partnerships with AI firms may require significant tech investment and integration efforts.

Differentiation

Nationwide invests in tech-driven platforms like YellowBird and Betterview to enhance services.

Partnership with CLARA Analytics shows Nationwide's focus on AI for operational efficiency.

Collaboration with Funding Circle highlights Nationwide's support for small business growth.

Upsides

Nationwide's $56M loan to Whitestone REIT diversifies its investment portfolio.

Investments in AI and tech platforms could streamline operations and reduce costs.

Supporting small businesses may expand Nationwide's customer base and strengthen relationships.

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