The Commercial Lines Account Manager provides support in placing of new and renewal business with our insurance companies. The account manager will be the day-to-day liaison between the insurance companies and producers by being a resource for negotiating carrier coverages and terms, preparation of proposals and finalizing the placement/binding process. Meets service and sales delivery standards and performs essential functions to the quality and service standards developed by the agency.
PRIMARY RESPONSIBILITIES AND DUTIES
Assists in designing of, or independently designs, insurance plans for clients as assigned and directed by the agency management.
Utilizes internal and external resources to gather information and documents necessary to prepare submissions
Completes application and new client entry in agency management system
Pre-qualifies accounts with markets based on understanding of appetite
Submits applications to carriers, either via email or online rating systems
Provides technical support to producer(s) to benefit clients and to reach agency’s strategic business goals.
Manages underwriter questions and requirements for additional information needed; coordinating amongst underwriter, prospect/client and producer.
Monitors progress and work with underwriters to obtain a quotation and pricing.
Review quotes against submission for accuracy. Review multiple quotes against each other to determine coverage differences and potential gaps amongst various carriers.
Negotiates with carriers as needed to obtain optimal terms for client or prospect
Provides consistent, accurate, and timely communication to clients and carriers through verbal and written correspondence.
Binds coverage and finalizes submission.
Prepares/updates client account in agency management system, per final binding, to hand over to account manager for servicing.
Sets priorities and manages work flow to ensure efficiency.
Maintains and documents client information and communication in management system.
Provides support to Producers as needed to assist prospects and clients.
Works closely with and communicates effectively with account management team on hand-off and collaboration of existing client remarkets as well as new business prospects.
Assists or completes other tasks as directed by agency management.
PERSONAL AND ORGANIZATIONAL DEVELOPMENT
Sets priorities and manages workflow to ensure efficient, timely and accurate processing of transactions and other responsibilities.
Maintains a cordial and effective relationship with clients, co-workers, carriers, vendors, and other business contacts.
Keeps informed regarding industry information, new product information, legislation, coverages, and technology to continuously improve knowledge and performance.
Interacts with others effectively by utilizing good communications skills, cooperating purposefully, and providing information and guidance, as needed, to achieve the business goals of the agency.
Understands how to perform technical tasks to expedite client service.
KNOWLEDGE, SKILLS, AND ABILITIES
Minimum 3-5 years of commercial lines insurance experience
Wisconsin Property & Casualty License
2 or 4 year College degree preferred
Ability to communicate orally and in writing with others to explain complex issues, receive and interpret complex information, and respond appropriately.
Ability to understand written and oral communication, and interpret abstract information.
Full knowledge of insurance products and usages.
Adequate knowledge of rating procedures, coverages, and industry operations to effectively manage, maintain, and write assigned client and prospect lists.
Knowledge of insurance markets and reference to markets.