Commercial Lines Account Manager
Job Description:
Independently develop, engage, and grow client relationships through prompt, professional service, and efficient processing of new and renewal quoting, applications, claims, change requests, and client inquiries on new and assigned commercial lines accounts. Holistically manage accounts, and stay up to date on industry changes, new product information, legislation, coverage, and technology solutions
This position reports to the Team Leader and works as a part of the Commercial Lines Department which consists of Client Service Agents and Account Managers. Department personnel work closely with agency Producers and other our client employees in order to effectively assist clients and support agency initiatives. This department is a high pressured, fast-paced environment with significant disruption. Large number of multiple steps in complex system performed with accuracy and speed is essential to the successful completion of tasks. The workspace is indoors at the Winchester, VA office location. Minimal travel is required for this position but may be needed occasionally for training, community events, or other agency initiatives
An internal tier designation of I, II, or III will be used to indicate level of expected responsibility within the department based upon experience, tenure, knowledge, etc. and this tier designation will be tied to the employee’s overall compensation level. Key differences between the tier designations are as follows:
• Tier I – Account Managers in this tier will initially manage a small book of business that does not include high-value or complex client accounts. They may require direction from more tenured Account Managers or the Team Leader as they learn agency processes and increase their product and carrier knowledge. They should have a minimum of 5 years of applicable insurance industry experience.
• Tier II – Account Managers in this tier will manage a larger book of business which has grown through new sales and/or book of business transfer. At this tier, Account Managers should not require direction from more tenured Account Managers or the Team Leader on agency processes or standard policy, product, or carrier knowledge. Account Managers may still need direction on high-value or complex client accounts. They should have a minimum of 7 years of applicable insurance industry experience and work to expand their knowledge through acquisition of industry designations.
• Tier III – Account Managers in this tier will independently manage an established book of business. They should be experts in agency processes, policies, products, and carrier knowledge and have obtained at least one applicable industry designation. In this tier, Account Managers should be able to provide direction to less tenured Account Managers and Client Service Agents. They should have expert knowledge in at least one niche/vertical market (like Agriculture or Bonds for example.) They should have a minimum of 10 years of applicable insurance industry experience.
Primary Role/Responsibilities:
• Review existing account and identify exposure to loss, recommending appropriate coverage in coordination with Producer.
• Provide technical support to Producer: specifically in analyzing client needs, coverage forms and quotations.
• Complete applications in coordination with Producer; submit applications to eligible and appropriate carriers; follows up to ensure timely receipt of quotations and policies
• Order and issue binders, certificates, policies, endorsements, and other related items; verify their accuracy; forward to client with appropriate correspondence.
• Verify policy and policy change information, facilitating corrections when necessary.
• Prepare summaries of insurance, schedules and proposals as needed.
• Review and process renewals in coordination with Account Manager or Producer.
• Attend team renewal meetings.
• Review audits of policies; verify accuracy and facilitate corrections, if needed, between client and carrier.
• Determine if direct or agency billing is appropriate and invoice accordingly. Use agency credit and collection policy in pursuing prompt payments.
• Work in conjunction with Account Manager or Producer to determine reasons for customer request for cancellation and act to save account.
• Process cancellations requests to carriers and maintain follow-up to assure timeliness of request.
• Assist Claims Coordinator in providing advice to clients in submitting first reports of claims, facilitating prompt response from carrier staff and following up on claim status.
• Actively solicit and process additional lines of coverage for all accounts.
• Inform clients of all coverage lines offered by our client (life, personal, employee benefits, etc.)
• Accompany Producers on prospect and client meetings as requested.
• Continuously work to gain and expand knowledge and understanding of commercial lines insurance products and their respective uses, commercial lines insurance markets, insurance rating processes, underwriting procedures, industry and carrier changes, legislation, coverage, and technology solutions.
• Regularly share knowledge and skills with coworkers.
• Other duties and projects as assigned by agency management or the Team Leader
Performance Standards:
• Adherence to developed procedures and guidelines.
• Review and respond to emails and client voicemails within one business day and provide expectation of request resolution timeframe when appropriate.
• Maintenance of a 3-day maximum processing backlog.
• Responsive to client, carrier and management requests.
• Effective team player to both the department and the agency as a whole.
• Continuous effort to improve knowledge and performance.
• 95% retention rate of existing client accounts.
• Specific Timelines:
o Open Activities: maintain less than 25
o Outstanding Emails: maintain less than 25 with a target of 10
o Renewals processed (at least) 30 days prior to expiration
o Policy discrepancies resolved within 60 days
Skills and Qualifications:
• Client Service - Knowledge of principles and processes for providing client services. This includes client needs assessment, meeting quality standards for services, and evaluation of client satisfaction.
• Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, and other office procedures and terminology.
• Computers and Electronics - High level of computer literacy including working knowledge of Windows, Outlook, Excel, Word, agency management systems, scanning and electronic filing.
• Time Management - Effective prioritization of workload and organization of information to achieve departmental and organizational goals including timeliness of response to client and internal requests. Consistently be on time for work and all scheduled meeting and training classes.
• Communication - Clear and effective oral and written communication. Ability to communicate in the manner preferred by the client and employ active listening when conversing with the client.
• Accuracy - Strong attention to detail and ability to self-check work.
• Critical thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems. Demonstrate a “whatever it takes” approach to ensure client satisfaction and to support key our client initiatives.
• Teamwork - Establish and maintain effective working relationships with coworkers, clients, service providers, and carriers to foster an atmosphere of mutual respect and teamwork.
• Demeanor - Project a professional image in action and appearance. Exhibit an enthusiastic attitude, self-motivation, and a cooperative nature.
• Adaptive - Remain informed regarding industry information, applicable technology, and new product information by attending courses, completing in-house training, insurance carrier meetings, reading appropriate journals, company bulletins, meeting continuing education requirements, attending offsite meetings, etc.
• Community Focused – Furthering personal development through volunteer opportunities in order to strengthen community ties is encouraged and supported.
Requirements:
• Progressive property & casualty insurance experience as defined by the tier descriptions in the Work Environment and Department Structure section of this document.
• Client service experience preferred.
• 2-year of completed college coursework or industry specific designation preferred.
• Property & Casualty Insurance License in good standing or reinstated within 30 days of employment.
• Valid driver’s license.
Benefits
• Medical, dental, vision
• 401k with employer match
• Aflac
• PTO, holidays
• Team events: birthdays, summer picnic, ice cream days, "Fun Committee" activities
• Education-focused: University (WGU), policy reviews 2x/month
• Paid training and designation support
• Community engagement: PTO support for employees involved in nonprofits