Handle complex financial issues and strategies:
- Mid-Year/Renewal Projections
- Funding Analysis/Funding Rate Calculation
- Contribution Strategies
- Assessment of Client Reserves
- Calculate financial impact of plan design modifications
- Calculate financial impact of carrier and/or network change
Identify client needs:
- Facilitate strategic planning meeting
- Present Situation Analysis
- Discuss and deliver Client Service Calendar
Cross sell additional services
Develop mutually beneficial relationships with:
- External Clients
- Insurance Carriers
- Other Account Executives
Oversee and participate in the renewal process:
- Identify Marketing Effort Needs
- Ensure Account Manager completes assigned tasks
- Review Final Marketing Report
- Compile, analyze and develop the financial reporting, including Renewal Projections
- Assist AM in communicating results to the client
Oversee marketing efforts and take lead role in carrier selection and/or financial negotiations.
Form/plan recommendations and executive summary in concert with UM and/or Producer/Consultant upon completion of marketing/ renewal effort.
Assist Producers/Consultants and UM in establishing and meeting target revenue goals for existing and new business.
Review of annual commission/fee tracking for existing and new business.
Provide limited assistance to clients on compliance issues and determine if legal advice is necessary.
Assist in the training and developing of Account Managers and Account Administrators.
Participate in Certified Employee Benefit Specialist (CEBS) Designation Program.
Attend staff meetings, department and carrier meetings, educational workshops and industry and trade meetings
Deliver outstanding internal and external Client Service
EDUCATION, SKILLS & EXPERIENCE REQUIRED:
1. Minimum of Bachelor’s Degree in business related field required, with 5+ years’ experience managing health and welfare benefits accounts.
2. Advanced working knowledge of group benefits, services, and programs.
3. Substantial experience in the elements of marketing all lines of coverage.
4. Understanding of carrier/underwriter practices and the ability to recreate these practices for use during plan pricing, renewal negotiations, and Associate training.
5. Firm understanding of concepts, issues, and overall impact of market pricing.
6. Expanded insurance industry knowledge through experience and/or course work.
7. Proven ability to organize and manage time in order to meet deadlines.
8. Demonstrated ability to understand and execute oral and written instruction.
9. Demonstrated professional, tactful negotiation and persuasion skills to achieve objectives.
10. Consistently demonstrated ability to instill confidence with clients so that client looks to you and to the firm as more than just an insurance broker, but as a partner in business.
11. Extensive experience in evaluating client needs for employee benefit program offerings.
12. Advanced working knowledge of Microsoft products (Word, Excel, Outlook) with advanced working knowledge of spreadsheet applications and formula calculations.
13. High mathematical aptitude including the ability to calculate and interpret formula methodologies.
14. Ability to maintain life and health license.
15. Strong analytical, problem-solving and strategic planning skills.
16. Consistently demonstrated interpersonal communication skills and ability to interact with Associates at all levels of responsibility.
17. Exemplary presentation skills, including preparation and execution.
18. Strong ability to delegate as appropriate.
19. Demonstrated understanding of when to proceed alone and when to involve the Unit Manager, Producer, or others.
20. Ability to perform/analyze renewal projections for fully insured and self-funded clients.
21. Exemplary knowledge of COBRA requirements and HIPPA compliance.
22. Ability to compile, analyze and interpret various financial information and data to facilitate decision-making.
23. Strong personal presence to interface with top management of other businesses, representing the firm in the highest professional manner.
24. Ability to coach and mentor other Associates including, but not limited to Account Managers and Account Administrators.
25. Ability to assist Unit Manager in the identification of Associate developmental needs.
26. Ability to effectively interview prospective Benefit Associates.
27. General understanding of Human Resource policies and procedures and ability to implement and/or know when to escalate to Unit Manager level.
28. Proven ability to handle basic management issues including, but not limited to, Associates, projects and resources.
29. Willingness and ability to expand knowledge and effectiveness in the insurance industry by successful completion of extended classes and workshops related to insurance.