Complete Resume

JOSEPH PALUMBO

44 Crooked Stick Rd, Jackson, New Jersey 08527

(717) 648-9160

joepa[email protected]


SENIOR LEVEL INSURANCE EXECUTIVE


  • Dedicated insurance executive with over 20 years of experience promoting the successful growth and development of sales operations and premium / profitability efforts across business and commercial lines. Known for delivering and defining innovative sales practices and policies, engaging in strategic marketing plans and driving their execution, managing professional staff development, directing new product development initiatives and managing entries into new business lines.
  • Sales Management New Business Development Strategic Planning & Implementation
  • Distribution Management Specialty Business Product Lines
  • Team Leadership, Mentorship, & Management Communication & Interpersonal Skills
  • Marketing Planning Profitability Growth


PROFESSIONAL EXPERIENCE


VELA INSURANCE SERVICES, Chicago IL 2016 - 2017 a member Company of WR Berkley Group

Vice President and Sr Executive for the Central Region


Key Highlights:

  • Hired (January 2016) as AVP and Central Region Marketing Executive reinvigorated the Region's marketing efforts throughout the Midwest and Southwest and led such innovative marketing efforts as the NAPSLO "Left Behind" reception, joint efforts with other WRB Companies, and numerous other relationship building events with our Producers.
  • Promoted (September 2016) to VP and given the additional position as Chicago Branch Manager. Under my leadership the Branch achieved production, profit and rate increase objectives for the first time in the Company's 20+ year history. Through May of 2017 the Chicago Branch had achieved 100% of budget, 7% growth over prior year in contrast to Vela's overall results which were 83% of budget and prior.
  • Promoted (June 2017) to Central Zone Executive as part of Vela's overall restructuring plan which incorporated many of the innovative approaches we utilized to achieve success in the Chicago Branch and Central Region which is responsible for approximately one third of Vela's total premium volume.


IRONSHORE INSURANCE SERVICES Specialty Lines Insurance Company 2010-2014

Senior Vice President / Senior Executive – Agency Executive


Key Highlights:

  • Directed strategic planning, underwriting management, and new business efforts across wholesale broker business. Supervised 22 underwriters within wholesale broker business line. Drove successful turnaround and profitable underwriting of wholesale business for both U.S. Property and U.S. Casualty coverage lines.
  • Developed and introduced a wholesale producer management marketing plan, contributing to premium growth from $500M (2010) to $2B (2013).
  • Streamlined target and focus for producers based on current and projected value.
  • Directed conversions of property book to reduce primary exposures and instead focus on excess quota share amounts and excess casualty book from wheel-based to expanded business and construction accounts.


SENTRY INSURANCE, Stevens Point, Wisconsin 2010 $4B (policy holder surplus) mutual insurance company.

Product Line Manager, Senior Living Products


Key Highlights:

  • Defined program parameters for market venture into senior living business line, provided captive producer training, and finalized re-insurance treaties.
  • Created a template for expansion into new business lines.
  • Achieved $1M in new premiums written.
  • Reduced potential loss exposure with complete re-insurance program.

J.N. PALUMBO & ASSOCIATES, Carlisle, Pennsylvania 2006-2009 & 2002-2004 Insurance business consultancy.

Principal


Key Highlights:

  • Sourced, maintained, and managed client relationships with American Safety Insurance, Great Lakes Agency / Preferred RE, K & B Underwriters, New Age Brokerage / PGI Commercial, Physician’s Trust Company, RSL Solutions / Guy Carpenter, Rough Notes Magazine, and The Target Markets Program Administrators Association. .
  • Attained measurable growth for clients by re-engineering underwriting for existing programs, defining parameters for new programs, determining underwriting guidelines, and producing business plans.

XL INSURANCE CO., Exton, Pennsylvania 2004-2005 International insurance firm.

Vice President for Underwriting & Operations


Key Highlights:

  • Supervised 20-member team in launch of underwriting units from scratch covering excess and surplus lines, general casualty, hazard, and moderate property lines. Prepared forms, created rating engines, produced policy issuance apparatus, clarified underwriting authority for subordinates, and compiled audit protocols within 5-month period.
  • Attained compliance with all deadlines for nationwide property and casualty underwriting units.
  • Completed underwriting for $10M in new business within 6-month period.

AMERICAN MARKETING CENTER OF PENNSYLVANIA, INC. 1999-2002

President & Chief Operating Officer


PHICO INSURANCE  1998-1999

President, Phico Capital Markets & Senior Vice President, Phico Insurance Group


AMERICAN INTERNATIONAL GROUP (AIG), New York, New York 1980-1998

Senior Executive Middle Market Business, AIG Domestic Brokerage Group 1992-1998

Director of Marketing AIG Environmental (Commerce & Industry Insurance Co.) 1991

President & General Manager of Risk Specialists Companies (New York, New Jersey, Dallas & Southwest) 1980-1991


EDUCATION & PROFESSIONAL QUALIFICATIONS

Communications Coursework: Brooklyn College, Brooklyn, New York

Certified Insurance Counselor (CIC): National Insurance Alliance

Founding Member: Target Markets Program Administrators Association

Member: NAPSLO, AAMGA, CIAB, Western States Surplus Lines Association