Producers - Commercial Lines

Job Summary

: A Commercial Lines Producer is responsible for prospecting, soliciting, quoting, and selling new Commercial Lines accounts. Continuing to counsel and market to existing clients professionally is another essential function of the position. Specific sales goals and service responsibilities are determined during the yearly planning process for this position. Meets service and sales standards of volume and quality. A Junior Producer does NOT have the ability to bind coverage. A Junior Producer must work with Senior Producer, Sales Manager, or President for ALL business written. High-pressure, fast-paced environment with significant telephone and personal disruption. Large number of multiple steps in complex system performed with accuracy and speed is essential.

Job Description:

ESSENTIAL JOB FUNCTIONS

New Sales

• 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.

Retention and Continuous Marketing

• 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.

Personal and Organizational Development

• 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.

SKILLS

• 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.

EDUCATION/KNOWLEDGE/EXPERIENCE

• 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