VP of Insurance-Profit Sharing

We are a real estate developer (www.theprimecompany.com) seeking to build an insurance agency that specializes in property and casualty insurance.

This position is remote or at our Manhattan, KS office as VP of Insurance with a to be formed Insurance Agency (ex. Prime Protect Insurance LLC) a subsidiary of The Prime Company. We would provide you with an annual salary of $100,000-150,000 depending on experience and profit sharing agreement of third party insurance 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 business written under the firm, including third-party business.
• New Business
  
  • 60% Agency
  • 40% Producer


• Renewal
  
  • 70% Agency
  • 30% Producer


• Third Party Profit Sharing Agreement
  
  • 1/3 of Net Income of Agency Business allocated towards your book of business (Owner draws and your salary and benefits are not counted toward expenses)
  • 5% of Net Income of Agency Total Income outside of your book of business as a result of the agency's net profit from other producers.
  • Example Expense: Hiring an Account Manager for your book of business would be deducted from Agency Profit as an expense allocated towards your book of business. At the end of the year the NOI is divided 2/3 (TPC) to 1/3 (You) on your book of business. You also get 5% of total Agency net income outside of your book of business as a result of other producers.

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 you 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

Job Title: VP of Insurance

Position Summary: The VP of Insurance will lead the formation and strategic growth of a newly established insurance brokerage. This role is responsible for securing the insurance needs of the parent company's portfolio while aggressively scaling a third-party commercial insurance book. As a key leadership position, the VP will manage carrier relationships, oversee complex real estate risk frameworks, and drive high-margin revenue through specialized commercial lines.

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.

We look forward to having you as a part of our team. If you desire to learn more about this opportunity please contact owner Bryan Elsey at 785-317-9352 or bryan@theprimecompany.com