What are the responsibilities and job description for the Insurance Coverage Specialist position at Foundation Risk Partners?
Foundation Risk Partners, one of the fastest growing insurance brokerage and consulting firms in the US, is adding a Coverage Specialist to their Foundation Risk Partners of FL team.
Job Summary
The Coverage Specialist works closely in conjunction with the Producer and Account Manager in analyzing risk exposure and providing insurance solutions to meet our clients needs. This position regularly exercises discretion and independent judgement on accounts including but not limited to evaluating and negotiating coverage and pricing, and interpreting, and implementing company policies and procedures. The Coverage Specialist is a subject matter expert in their field and provides a consultative, strategic approach to the placement of commercial lines risks. The Coverage Specialist initiates the new and renewal marketing process including preparing submission to proposing and binding coverages as needed. This position also performs all other duties required to establish, market, and maintain accounts.
Essential Functions
While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add, or remove duties from particular jobs and to assign other duties as necessary.
Equal Employment Opportunity (EEO)
FRP provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or any other classifications protected by law.
Benefits
FRP offers a comprehensive range of health-related benefit options including medical, vision, and dental. We offer a 401(k) with company match, company paid life insurance, STD, LTD and a generous PTO policy starting at 18 days per year plus 10 paid holidays & 2 floating holidays!
Job Summary
The Coverage Specialist works closely in conjunction with the Producer and Account Manager in analyzing risk exposure and providing insurance solutions to meet our clients needs. This position regularly exercises discretion and independent judgement on accounts including but not limited to evaluating and negotiating coverage and pricing, and interpreting, and implementing company policies and procedures. The Coverage Specialist is a subject matter expert in their field and provides a consultative, strategic approach to the placement of commercial lines risks. The Coverage Specialist initiates the new and renewal marketing process including preparing submission to proposing and binding coverages as needed. This position also performs all other duties required to establish, market, and maintain accounts.
Essential Functions
- Collaborate with Producer and Account Manager in developing the marketing strategy and preparation of commercial insurance submissions, including but not limited to, analyzing applications, loss runs, and supplemental underwriting information.
- Submit new and renewal commercial lines accounts to carrier and broker partners leveraging strong marketing and negotiation skills to optimize client outcomes.
- Strong knowledge of the capabilities and appetite of carrier and broker partners and familiarity with rating systems.
- Prepare Loss Summaries and Market Summaries
- Compare coverages, terms and conditions and prepare presentation of recommended solutions.
- Bind coverage in compliance with subjectivities as required by the carrier, state statute and/or Surplus Lines Association.
- Maintain agency management system ensuring all data is accurate, complete, well documented, and up to date in accordance with company policy.
- Build strong working relationships with internal team, clients and carrier partners
- Exercise high level of confidentiality
- Maintain a high degree of technical competence and industry expertise
- Strong analytical, problem solving and decision making skills
- Exceptional multi-tasking, organizational, time management, and prioritization skills
- Advanced level proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, etc.) and Adobe Pro with strong technical/computer ability including knowledge of SharePoint Online and Office 365
- Proficient in insurance agency management software (EPIC)
- Ability to analyze and evaluate results to choose the best solutions and solve problems on complex issues
- Ability to handle stress of short time constraints and manage change
- 2-20 Property & Casualty License
- College degree or equivalent work experience
- 5 years’ experience in designated field
- Professional Designation such as CPCU, CIC, ARM, AAI or ability to obtain
While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add, or remove duties from particular jobs and to assign other duties as necessary.
Equal Employment Opportunity (EEO)
FRP provides equal employment opportunity to qualified persons regardless of race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, veteran status, or any other classifications protected by law.
Benefits
FRP offers a comprehensive range of health-related benefit options including medical, vision, and dental. We offer a 401(k) with company match, company paid life insurance, STD, LTD and a generous PTO policy starting at 18 days per year plus 10 paid holidays & 2 floating holidays!