Snr Account Manager-Medical Insurance

Overall role:

This person is responsible for designing, managing and negotiating insurance strategies for Large corporate clients and prospects in the EB Segment. The Broker will be the main representation of our clients in the insurance marketplace, and with that, are accountable for the placement & management of the insured's program in a manner that is accretive to all parties.

Key Accountabilities

Documentation

Collect documents from the client to arrange quotation, negotiate and placement of contracts of insurance.

Quoting and Placement

Use market knowledge and quote tools to negotiate and obtain best coverage suitable to the client.

Managing Subjectivities and Warranties

Review, compare quotations and resolve subjectivities and warranties in accordance with client instructions.

Policy Issuance

Ensure policy issuance in a timely manner and as per agreed terms

Premium Collection

Collect invoice from insurer and arrange payment from the client as per terms agreed.

File Maintenance

Create, review and maintain records of negotiations, presentations and communications with insurers / reinsurers and clients.

Client Servicing

Manage client requirements and expectations in accordance with the terms of appointment, maintaining the client relationship, execute additional value-adds etc.

Core Competence Indicators

• Effectively negotiate premiums, coverage enhancements, commissions, and existing coverage with carriers.
• Provide a thorough review and analysis of renewal information; including but not limited to, benefit comparison, exclusions, limits, loss history, and exposures
• Responsible for leading marketing strategy and proposal review meetings with Head of EB to correspond with client presentation dates.
• Create innovative placement approaches to meet and exceed client expectations.
• Create and analyze comparisons of carrier quotes to demonstrate value and thoroughness for clients; make recommendations where needed
• Deliver market intelligence for strategy meetings and utilize available resources throughout the marketing process.
• Address client needs by identifying coverage gaps and highlighting new coverage opportunities for comprehensive program placements
• Provide thorough communication with all EB team members, carriers, throughout the duration of each placement
• Bind coverage and create and submit carrier binders/documents
• Responsible for maintaining and building strong carrier and Client relationships
• Keep informed of changing insurance and risk market conditions. Communicate changes and/or updates to Service Team members as they relate to pertinent classes of business
• Understand and comply with UIB client management requirements
• Ability to complete business travel for client visits and carrier visits, and/or advanced skill training on a limited basis.
• Collaborate and communicate with other client services teams, to smoothly and efficiently complete joint work/process steps/etc.
• Maintain performance to applicable Client Service and Placement standards and/or metrics
• Manage client day to day operational functionalities

Supervisory Responsibility: Direct Reports

Nil

Internal Relationships

Line Manager, Production, Claims and Finance Departments

External Relationships

Underwriters, Client Risk/Insurance Managers and Finance Managers

Desirable Experience

-Local or international market experience in either broking or underwriting. Exposure to large international corporations

-Generic Knowledge and Skills

-Market and industry structure and operation, including regulation and market reform

-Technical insurance to CertCII, or equivalent experience (min. 5 years)

-Employee Benefits insurance products/solutions

-Slip drafting

-Negotiation with underwriters

-Verbal and written communication

-Client servicing

IT literacy in Word, Outlook, Excel (Basic) and PowerPoint (Basic)

Accuracy and attention to detail