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Job Description
Description:
Position Summary: The Account Executive provides Risk Management Consulting and Account Management services to assigned commercial lines accounts (overall book size will generally be $375k or more in revenue). The Account Manager mentors an assigned Account Manager to help develop their skills and knowledge. This position requires a highly motivated and organized individual as well as team leader. The Account Executive provides, maintains and, as needed, improves customer service and builds professional relationships with multiple customer contacts. The Account Executive will perform to the ethical standards required by the Colorado Department of Insurance and Moody Insurance Agency, Inc.
Job Functions:
Following is a brief outline of essential tasks for the Account Executive position, but other responsibilities and duties may be assigned:
- Manage client relationships and provide exceptional customer service. Customer service focus should be on understanding customer expectations and striving to exceed them.
- During renewal process, analyze assigned accounts to place appropriate coverages and limits of insurance; this can be performed with or without consultant involvement. Work closely with underwriters and wholesale brokers to secure program. Review applications, workbooks, recaps, loss runs, and experience modifications for accuracy and provide to client for completion. Market as appropriate and communicate quote details to Account Specialist/Associate Account Manager for creation of proposal. Review final proposal and present final version to client with or without consultant involvement. Bind coverage within stated procedural timeline and within agency binding authority.
- During renewal, analyze current coverages and quote for reasons behind changes and premium differences, inaccuracies, and for missing coverages.
- Negotiate and deliver renewal pricing; responsible for achieving renewal goals on assigned accounts.
- Identify service problems and program trends, and develop and deliver solutions to the customer. Develop and implement service plans for major accounts. Provide risk management to clients, including contract review and analysis and loss run analysis; suggest policy changes or updates as necessary.
- Research and analyze market changes throughout the year and communicate these to clients, suggesting appropriate changes to policies as necessary. Attend meetings and trainings offered by carrier partners to better understand market trends, appetites, and changes.
- Ensure premiums and commissions are billed in an accurate and timely manner, in accordance with department policy
- Review and resolve audit disputes
- Check in with clients approximately 4 months before their renewal to discuss any service concerns or changes needed for upcoming renewal.
- Follow up and resolve any policy discrepancy notifications received in a timely manner.
- Follow up with clients on any payment issues upon request by Accounting or Carrier partners.
- Actively look for opportunities to cross-sell additional lines of coverage to existing clients.
- Act as first point of contact on book of business for clients, carriers, and consultants. Act as service team lead to ensure service guidelines are met.
- Manage Tasks & Suspense items daily, in accordance with department policy.
- Develop and maintain strong relationships with clients, consultants, carrier partners and underwriters. Meet with clients in person for relationship-building at least once per year.
- Act as team lead on assigned book to ensure service guidelines are met. Assist other members of the Commercial Lines service team as needed, acting as a guide to less-experienced teammates.
- Maintain a current, active license at all times. Complete Continuing Education classes as required to maintain license, or as requested by Management. Should hold or be working toward at least one of the following insurance designations: CIC, CPCU, ARM, or CRM, as assigned by management. (Account Executives with 25+ years commercial insurance experience are exempt from this requirement.)
- Other duties as assigned
. Requirements:
Minimum Qualifications and Requirements:
- Able to read and write in English
- High School diploma or equivalent required. College degree (or equivalent job experience) in insurance, communications or other related field preferred.
- Must possess a valid Colorado Property and Casualty License; insurance designations such as CIC, CPCU, ARM, or CRM strongly desired.
- Minimum 7 years in Commercial insurance. Must have previous experience handling large premium volume and complex accounts.
- Proficient computer skills including working knowledge of Microsoft Office products and Agency Management System software (AMS 360 or Work Smart).
- Able to work independently with minimal supervision
- Excellent written and verbal communication skills
- Outstanding consulting, sales and negotiating skills
- Strong customer service and team skills; must interact effectively with clients, co-workers and management
- Strong attention to detail and solid organizational skills
- Solid prioritization skills, sense of urgency, and ability to work efficiently under time constraints
- Proven ability to analyze and solve problems
Compensation for this position is between $65,000 and $76,000 annually, based on experience.
Schedule for this position is Monday – Friday, 8:00am – 5:00pm
