Commercial Insurance Account Executive

2 weeks ago

Chicago, Illinois, United States ALKEME Insurance Full time

Position Overview:

The Commercial Lines Account Manager is responsible for executing key functions of the role, which encompass supporting the Sales Executive / Account Executive and assisting clients with their service requirements while managing modifications to existing accounts. This role necessitates specific service and marketing duties, including adherence to service and sales delivery standards, while performing essential tasks in alignment with the quality and service benchmarks established by ALKEME Insurance.

Key Responsibilities:

Client Service and Support:

  • Deliver technical assistance to the Sales Executive/Account Executive, particularly in assessing client needs.
  • Occasionally accompany the Sales Executive/Account Executive to client meetings and prospect discussions.
  • Coordinate the completion of applications with the Sales Executive/Account Executive, submitting them to appropriate carriers; ensure timely follow-up for quotations on new and renewal business as per agency protocols.
  • Issue binders, certificates, policies, endorsements, and related documents, confirming their accuracy and forwarding them to clients with the necessary correspondence.
  • Assess whether direct or agency billing is suitable and invoice accordingly.
  • Prepare insurance summaries, schedules, and proposals.
  • Review policy audits for accuracy and facilitate necessary corrections between clients and carriers.
  • Process incoming correspondence and phone inquiries, responding promptly within company guidelines.
  • Utilize agency credit and collection policies for invoicing and ensuring timely payments.
  • Identify reasons for cancellation requests, take action to retain accounts, and inform the Sales Executive/Account Executive.
  • Manage cancellation requests to carriers, ensuring accurate and timely resolutions while maintaining the agency's financial integrity.
  • Assist clients in initiating claims, ensuring prompt responses from carrier representatives and following up on claim statuses in accordance with agency procedures.
  • Identify potential loss exposures and recommend suitable coverages in collaboration with the Sales Executive/Account Executive.
  • Conduct online rating of quotes.
  • Request loss runs and maintain updated loss run records.
  • Ensure accurate and current information is maintained in the Applied EPIC system.

Professional Development:

  • Establish priorities and manage workflow to guarantee efficient, timely, and precise processing of transactions and responsibilities.
  • Stay informed about industry trends, new product developments, legislation, coverages, and technology to enhance knowledge and performance.
  • Employ effective communication skills, collaborating purposefully and providing information and guidance as needed to achieve the agency's business objectives.
  • Foster professional, cordial, and effective relationships with clients, colleagues, vendors, and other business contacts.

Qualifications:

Essential Skills and Abilities:

  • A college degree with a minimum of 3 years of experience in the insurance sector or at least 5 years of relevant experience.
  • Possession of a valid Property Casualty Broker-Agent license.
  • Effective verbal and written communication skills to explain complex issues, interpret intricate information, and respond appropriately.
  • Comprehensive knowledge of insurance products and their applications.
  • Familiarity with insurance markets and their references.
  • Capability to execute complex tasks involving various concrete and abstract variables.

Physical Requirements:

  • Extended periods of sitting at a desk and working on a computer.
  • Ability to lift or pull up to 15 pounds occasionally.

Compensation:

This position offers a salary range of $70,000-$85,000 plus benefits, contingent upon experience and skill level.

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