The main purpose of this position is to price, underwrite, service and portfolio manage a profitable book of warranty / service contract business. The scope includes automotive products (extended warranty, GAP and ancillary products); brown & white goods; cell phones. In addition to the US market the geographical reach may also include Europe and Asia. Responsibilities for this position include:
Evaluate and price consumer product warranty and service contract programs
Develop pricing methodologies for new products, including documentation and automation
Develop a profitable and sustainable book warranty and service contract business
Manage the profitability of the book of business on a portfolio and on a deal by deal basis
Develop a suite of warranty related products and match to local market needs
Develop with the Sales team a profitable pipeline of new business opportunities
Manage and underwrite deals, including risk assessment, pricing, negotiation and closing
Manage the relationships with distribution channels and clients both during underwriting, deal implementation and ongoing deal management stages
Manage the profitability of current programs and re-negotiate renewal terms where appropriate
Establish, manage and implement appropriate underwriting guidelines
In conjunction with actuarial-data intelligence, build and use valuable data in underwriting and marketing services
Liaise with actuarial, finance, legal, claims, ops. & IT, and compliance in structuring and closing deals
Liaise closely with the Sales team in all aspects of warranty sales and business development.
Identify and develop long term relationships, partnerships and joint ventures with key (local) TPA-brokers, brokers, clients, MGUs, insurers and other distribution channels.
Build high levels of credibility and positive brand recognition for Fortegra.
Seven (7) years’ underwriting and pricing experience in the consumer products extended warranty / service contract arena REQUIRED
In depth understanding of and expertise across one or all product lines – automotive, retail, wireless
Strong track record of profitable underwriting performance and deal closing.
In depth knowledge of TPA’s, repair networks, technology and data intelligence required
Wide network of long term relationships with agents, TPA’s, brokers and other distribution channels.
Full understanding of the relevant compliance regulations.
Skills and Competencies
Positions require a theoretical and conceptual knowledge of a technical / functional specialization
Highly effective negotiation and project management skills
Strong presentation skills
Experience in building and managing profitable business
Ability to accurately analyze financial statements and complex deals
Ability to multi-task
Focus and goal-oriented disposition
Attention to detail
Knowledge of and ability to collaborate when necessary with other departments;
Excellent organizational skills
Strong analytical and problem-solving skills;
Ability to meet deadlines without compromising consistency in the process;
Experience dealing and handling sensitive information;
Ability to work under pressure:
Ability to prioritize to guarantee that all issues are allocated the required
Bachelor’s degree or equivalent work experience required
Relocation assistance is available
Fortegra Corporation, an insurance services company, provides insurance-related products and distribution and administration services in the United States. The company was formerly known as Life of the South Corporation and changed its name to Fortegra Corporation in 2008. Fortegra Corporation was incorporated in 1981 and is based in Jacksonville, Florida.