Insurance Industry Executive

6 days ago

Chicago, Illinois, United States 5H2 Hub International Midwest Limited Full time

About 5H2 Hub International Midwest Limited

In a rapidly changing business landscape, 5H2 Hub International Midwest Limited advises companies and individuals on how to prepare for the unexpected. As one of the world's largest insurance brokers, our focus is dedicated to providing our clients with the peace of mind that what matters most will be protected — through unrelenting advocacy and tailored insurance solutions that put our clients in control. Our growing team of professionals across North America represents a broad, deep and one-of-a-kind aggregation of entrepreneurs and leaders recognized for their excellence throughout the insurance community.

Job Summary

The Commercial Lines Middle Market Leader leads the overall service, marketing and placement, and operations for 5H2 Hub International Midwest Limited's Middle Market Commercial book of Property/Casualty business in the Chicago market. The job requires a high degree of independent discretion, autonomy, and decision-making based on industry knowledge and experience to provide professional guidance, expertise, and service to clients, professional and collaborative relationships with carrier representatives, underwriters, business partners, and 5H2 Hub International Midwest Limited colleagues.

To perform this job successfully, the incumbent must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. These qualifications are considered without regard to race, religion, color, sex, national origin, disability, or any other characteristic protected by federal, state, and local law. If this position requires licensing or certification, the incumbent must maintain that license or certification by meeting all continuing education and other requirements.

  • Leads the Middle Market segment of the business, including Team Leaders, Account Executives, and Account Managers who in turn have responsibility for managing individually assigned books of business. The Middle Market Practice is comprised of key and high revenue-producing accounts, all of which have a significant impact on the business operations of the client and on 5H2 Hub International Midwest Limited.
  • Assist client-facing colleagues by utilizing industry experience and in-depth knowledge of insurance markets, policy provisions, claim processes, business environment, and risk mitigation, applies independent and discretionary judgment to make decisions and advise clients. This could include non-routine coverage issues and questions, denial of claims, renewal strategies for key accounts, and interpretation of non-routine provisions of insurance contracts.
  • Built upon and improves existing operational processes. The Middle Market Leader will have a significant impact on developing more standardized and efficient processes, as well as improving client deliverables.
  • Acquires understanding of clients' business and insurance objectives and critically analyzes and compares insurance plans to determine suitability.
  • When counseling clients on appropriate coverage, will assess risks based on clients' situation and determine proper coverage to insure and mitigate those risks.
  • Built strong relationships with internal customers (producers, sales leadership, client service, Risk Services, and Claims Consulting) as well as our external trading partners.
  • Provides leadership of team in negotiating terms, conditions, and pricing directly with insurance carriers.
  • In situations where special carrier programs are available, determines if those programs are appropriate for particular clients. Then consults with clients on the benefits of those programs. Will then work with carriers to quote coverage through appropriate program.
  • Leads resolution of escalated complex service issues between clients and insurance carriers that require policy interpretation and experience-based judgment to resolve.
  • Can lead client meetings (including renewal meetings) as a member of the Senior Leadership team.
  • Supports, mentors, and trains Account Executives and Account Managers, as necessary.
  • Oversee functions performed by Team Leaders, Account Executives, and Account Managers including approval of renewal strategies and resolution of client and carrier issues.
  • Seeks continued knowledge and stays abreast of changes in the insurance industry and other external conditions that may impact their clients. Makes appropriate recommendations to clients in response to those changes independent of manager approval.
  • Leads all aspects of client service for the Middle Market segment of the business including marketing, service, and renewals. Uses judgment and creativity based on industry experience to produce favorable results and solutions to address clients' insurance needs.
  • Responsible for overall retention of clients within the Middle Market segment of the business.
  • Collaborates with Sales Leadership, Producers, Client Industry Leaders, and Account Executives/Account Managers to develop new business in the Middle Market segment. Identifies opportunities for cross-sell and up-sell of other 5H2 Hub International Midwest Limited products and services where appropriate.
  • Appropriately documents conversations with clients and carrier representatives and updates all 5H2 Hub International Midwest Limited computer systems and automated agency management systems when necessary. Ensures the accuracy of data in those systems.
  • Possesses mastery of the various 5H2 Hub International Midwest Limited and industry resources and tools that are available and utilizes same to best serve clients.
  • Travels on company business as required.
  • Prepares reports for senior management as required.
  • Attends industry-related continuing education training and courses.
  • Performs other duties and projects as assigned.

Work Experience Requirements:

  • 10+ years of experience and demonstrated proficiency in a Property/Casualty Account Management role, with demonstrated leadership experience. Brokerage experience is preferred.
  • Excellent oral and written English communications skills.
  • Leadership experience and independent responsibility for client retention preferred.
  • Ability to lead and influence in a team environment.
  • Demonstrated proficiency with computer systems, including but not limited to Microsoft Office and automated agency management systems.
  • Ability to work a regular, full-time work schedule at 5H2 Hub International Midwest Limited's facility(s) and ability to travel on business when required.

Licensing or Certification Requirements:

  • Currently licensed in good standing in required lines and states.
  • Current with all necessary CE credits in required lines and states.
  • Advanced professional designation highly desirable (e.g. AAI, ARM, CIC).

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