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

Chicago, Illinois, 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 (marketing, finance, risk analysis), solutions-oriented mindset
Technology savvy and highly motivated to grow business
Based in a major metro area such as St. Louis, Kansas City, Chicago, or Minneapolis
Experience or focus on transactional and small 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, 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 to cross-sell
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 the overall Nationwide presence

Skills

Key technologies and capabilities for this role

Surety UnderwritingBusiness DevelopmentRisk AnalysisSales StrategyMarketingFinanceNegotiationAccount ManagementCustomer RetentionProfit Management

Questions & Answers

Common questions about this position

What is the location requirement for this Territory Manager role?

The role ideally requires someone based in a major metro area such as St Louis, Kansas City, Chicago, or Minneapolis.

What salary or compensation is offered for this position?

This information is not specified in the job description.

What key skills are required for the Territory Manager position?

The role requires critical thinking, communication skills, underwriting expertise including risk analysis and financial evaluation, marketing abilities, and a solutions-oriented mindset.

What is the company culture like for the Surety Underwriting team?

The team values initiative, ambition to grow and learn, individual and collaborative contributions, technology savviness, motivation to grow the business, and offers excellent career advancement opportunities.

What makes a strong candidate for this Territory Manager role?

Strong candidates are passionate about customer care, thrive in using critical thinking and communication skills, have a solutions-oriented mindset with skills in marketing, finance, and risk analysis, and show initiative and ambition to grow.

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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