Broker Specialist
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Job Location:
Chicago, IL - USA
Monthly Salary:
$ 90000 - 120000
Posted on:
9 hours ago
Vacancies:
1 Vacancy
Job Summary
Company Details
Vela Insurance Services provides specialized Excess and Surplus Lines Casualty and Professional Liability insurance solutions in the following market segments: Construction Specialty Casualty & Professional Liability. We offer national service and local knowledge to our exclusive wholesale broker network and the businesses they serve.
Responsibilities
The Broker Specialist serves as the primary new business underwriter and relationship manager for a designated market segment and broker assignments. This forward-facing role is responsible for cultivating and maintaining strong relationships with assigned wholesale brokers driving new business production and contributing to renewal retention. The Broker Specialist combines underwriting expertise with sales acumen to deliver tailored insurance solutions and achieve growth targets.
- Serve as the lead underwriter for new business opportunities within an assigned market segment.
- Develop and execute broker engagement strategies to build long-term productive relationships.
- Act as the primary point of contact for assigned brokers providing responsive service and strategic guidance.
- Collaborate with internal underwriting and support teams to deliver timely and competitive quotes.
- Negotiate terms and pricing with brokers to secure profitable business.
- Maintain a pipeline of new business opportunities and meet or exceed production goals.
- Support renewal retention efforts for assigned brokers accounts.
- Use technology (AI) to maintain efficiency
- maintain productivity standards/metrics rate adequacy (deviation from benchmark)
- Monitor rate adequacy and contribute to portfolio management strategies.
- Provide input on underwriting guidelines and product enhancements based on new business trends.
- Maintain accurate records and documentation in underwriting systems.
- Monitor market trends and broker feedback to inform underwriting strategy and product development.
- Represent the company at industry events broker meetings and conferences.
- Regular travel to conduct in-person sales/ marketing visits with assigned brokers.
Qualifications
- Bachelors degree in Business Insurance Risk Management or related field preferred.
- Minimum 35 years of experience in E&S underwriting or broker-facing insurance sales.
- Proven track record of new business production and relationship management.
- Strong negotiation and communication skills.
- Deep understanding of E&S market dynamics and broker distribution channels.
- Ability to work independently and collaboratively in a fast-paced environment.
- Proficiency in underwriting systems and Microsoft Office Suite.
Additional Company Details
The company offers a competitive compensation plan and robust benefits package for full time regular employees which for this role includes:
Base Salary Range: $90000 - $120000.
The actual salary for this position will be determined by a number of factors including the scope complexity and location of the role; the skills education training credentials and experience of the candidate; and other conditions of employment.
This role is eligible to participate in the annual discretionary bonus program.
Benefits: Health Dental Vision Life Disability Wellness Paid Time Off 401(k) and Profit-Sharing plans.
Sponsorship Details
Required Experience:
IC
Key Skills
- Sales Experience
- B2B Sales
- Business Management
- Pricing
- Securities Law
- Service-Oriented Architecture
- Inside Sales
- Market Research
- Outside Sales
- Telemarketing
- WebSphere
- negotiation
About Company
Berkley is a leader in commercial lines insurance, with over 60+ specialized businesses - each with deep expertise in an industry, product, or regional niche.
