VP of Insurance - Founding Lead for Real Estate-Focused Brokerage

Job Title: VP of Insurance Create an Insurance Brokerage business unit focused on multifamily to add to our vertical Integration The Prime Company, LLC (www.theprimecompany.com) is a full-service, vertically integrated real estate development and investment management company, led by a management team that has been responsible for the development, investment and management of multifamily real estate projects, with over $625 million in assets under management. Based in Manhattan, Kansas, with nearly 100 in-house team members that provide architectural, general contracting, and property management expertise Key Responsibilities • Agency Formation & Strategy: Develop and execute a comprehensive business plan for the startup, including establishing operational procedures, choosing technology stacks (e.g., Applied Epic or Vertafore), and obtaining necessary state licenses. • Revenue Growth & Sales: Lead "hunting" efforts for third-party commercial clients, specifically targeting mid-to-large multifamily and commercial real estate portfolios. • Carrier Management: Act as the primary liaison with carrier partners and wholesalers (e.g., RT Specialty) to secure direct appointments and negotiate favorable terms for real estate-heavy risks. • Portfolio Administration: Oversee the insurance needs of The Prime Company, ensuring its $3.2M+ premium portfolio has adequate coverage and is in compliance with internal debt and equity requirements. • Leadership & Performance: Establish and track departmental Key Performance Indicators (KPIs), including retention rates, loss ratios, and quote-to-bind ratios. • Compliance & Risk Management: Ensure the agency adheres to all state and federal regulations, specifically managing the "controlled business" thresholds in all applicable juris Required Skills & Qualifications • Licensing: Must possess active Property & Casualty (P&C) licenses in good standing. • Experience: 5+ years of progressive experience in commercial insurance underwriting or brokerage, with a strong emphasis on real estate exposures. • Technical Expertise: Advanced knowledge of General Liability, Umbrella, and Commercial Property coverages, including complex casualty and loss-sensitive programs. • Leadership: Proven track record in a senior leadership role, capable of managing talent, mentoring staff, and reporting performance directly to executive ownership. • Analytical Ability: Proficient in analyzing large-scale risk portfolios, loss data, and financial trends to create Total Cost of Risk (TCOR) exhibits. Key Performance Indicators (KPIs) • 3rd Party Revenue Growth: Measured by new business written premium from non-affiliate clients. • Client Retention Rate: Targeting a 90%+ retention rate for all third-party renewals. • Loss Ratio: Maintaining profitable loss ratios to secure and expand carrier appointments. • Operating Margin: Managing expenses against revenue to ensure agency profitability. Compensation • Base Salary $100,000 • Profit Sharing 1/3 Agreement Third Party Business as outlined below: • All Insurance business related to The Prime Company Insurance needs is not eligible for profit sharing. • Agency owns all expirations, records, and customer lists for businesses written under the firm, including third-party businesses. • Third Party Profit Sharing Agreement • 1/3 of Net Income of Agency Business (Owner draws and your salary and benefits are not counted toward expenses) New Business • 60% Agency • 40% Producer Renewal • 70% Agency • 30% Producer • Example Expense: Hiring an Account Manager would be deducted from the Agency Profit as an expense. At the end of the year NOI is divided 2/3 (TPC) to 1/3 (You). As a part of your overall compensation package, we offer the following: ● Pay for 50% of your family’s health insurance premium. . ● Unlimited paid holiday, vacation time, and “flex-time”, as allowed and coordinated with your supervisor ● Discounted dental insurance is available for your voluntary participation ● 401K: TPC matches 100% of the first 3% of your contribution, and 50% match on the next 2%, 401 k is only available after one year of hire ● HSA:TPC matches 100% of the first $1,000 of your contribution, with a 20% match thereafter. ● A tax-advantaged, 125 “cafeteria plan” is available for your voluntary participation ● A cell phone $50 monthly reimbursement to provide your own plan and device Apply tot his job Apply To this Job