Principal Job Description
The primary purpose of this job is to service the Property and Casualty insurance programs for assigned clients.
As a Commercial Division Account Executive, major responsibilities include but are not limited to:
- Set priorities and manage workflow for customers, including independently analyzing contracts, quoting additional coverages and binding coverage.
- Keep informed of industry information, new product information, coverage and technology to continuously improve knowledge and stay current.
- Maintain a cordial and effective relationship with clients, co-workers, carriers, vendors and other business contacts.
- Interact with others effectively by utilizing good communication skills; cooperate positively and provide information and guidance as needed to contribute to the business efforts of the agency.
- Maintain required and additional continuing education for license and professional designations.
- Continue education in areas applicable to the position and to maintain license.
Agency specific training will be provided.
- Independently develop account information through continued contact with client, which includes collecting and analyzing client insurance needs.
- Determine which insurance products best meet the client’s insurance needs and advise the client regarding the advantages and disadvantages of coverage options.
- Review policy terms and conditions and make independent determination with respect to appropriateness of insurance coverage.
- Bind excess and surplus coverage.
- Maintain solid customer relationships by handling questions and concerns with efficiency and professionalism.
- Adhere to client service standards of the division and agency.
- Actively solicit increases in coverage or rounding out accounts through sales to clients at every service contact.
- Analyze exposures and recommend coverage and risk management techniques that meet clients’ needs. Educate clients on coverage terms, conditions, limitations and insurance solutions.
- Market, propose and complete applications for insurance coverage. Prepare analysis of client’s programs.
- Independently develop a thorough understanding of insurance carriers’ business preferences as well as industry changes and determine which markets to approach for new business and how best to approach them based on that understanding.
- Prepare analysis of client’s program for client presentation and/or producer’s review with use of insurance summaries and/or comprehensive and customized insurance proposals. Review and verify policies for requested coverage, correct information and proper pricing for new business, renewals, endorsements and audits.
- In the absence of the Claim Account Executive, manage submission of first reports of claims to Insurance Carrier.
- Maintain customer’s account on agency automation system, accurately documenting conversations in appropriate activity, sending confirmations to insured and adhering to all other automation procedures that are/become established.
- Actively refer clients to Benefits Planning Division and Personal Insurance Division for solicitation of new business.
- Develop and maintain knowledge of commercial coverage, systems and procedures, underwriting and risk management techniques and insurance products.
- Participate in training and seminar courses.
- Follow guidelines outlined in our employee manual.
- Perform other miscellaneous duties as assigned by agency management; may handle some moderately complex tasks independently.
- Cross train as needed
- Adhere to the state expectations of the E&O Plus Quality Management Program
- Bachelor’s Degree
- At least 5 years’ work experience in insurance industry; specifically 2 – 3 years’ experience handling large accounts.
- Property & Casualty license (within 12 months of hire)
- Strong commitment to high quality service delivery.
- Ability to work independently.
- Ability to understand written and oral communication and interpret abstract information.
- Ability to communicate orally and in writing with others to explain complex issues, receive and interpret complex information and respond appropriately.
- Full knowledge of insurance products, usage, and markets.
- Ability to carry out complex tasks with concrete and abstract variables.
- Ability to utilize computer systems and programs and understand functionality.
- Knowledge of insurance principles and procedures.
- Microsoft Office skills necessary.
- Time management, analytics, problem-solving and decision making.
- Ability to participate in a Team Environment.