What are the responsibilities and job description for the Commerical Lines Account Executive position at Risk Strategies Company?
The Account Executive is responsible for the placement and ongoing management of an assigned book of business. When managing house accounts, this role also includes responsibility for business development and client retention within that portfolio.
This position manages a more complex book of business that may involve industry specialization, larger account revenue, and or complex coverage structures such as loss sensitive programs, large deductibles, captives, or shared and layered programs. The Account Executive develops and executes placement strategies while supporting the “Fewer and Stronger” market consolidation initiative by identifying and selecting the most appropriate markets to approach for coverage. Strong negotiation skills are essential to secure the best possible terms and conditions for clients.
The Account Executive also provides clear direction to the assigned service team to ensure client needs and expected outcomes are achieved, while supporting RSC E&O risk mitigation and maintaining a consistent and sustainable service model.
This is a hybrid role requiring one to three days per week in our offices in Worcester or Boston, Massachusetts, or Guilford or Glastonbury, Connecticut.
Your Impact:
- Responsible for overall service, placement and business development management on an assigned book of business
- Accountable for business development and retention for any assigned book of house accounts
- Responsible for renewal strategy including markets to approach, claims reviews, gap analysis, coverage specifications as well as facilitating and analyzing the exposure information
- Marketing, negotiation, writing exec summary and reviewing proposals, facilitating for binding new business and renewal coverage following the direction of the client
- Debrief of proposal presentation sent to the client
- Create binding instruction recap to team
- Drafting stewardship reports in a timely fashion as agreed upon by the client
- Provide oversight and direction for Loss control services and track completion of project
- Allow internal claims assistance & advocacy team to report and manager claims and participate in claims reviews
- Review of client contractual insurance requirements as necessary
- Review and communicate with carrier on any Material change to the coverage program
- Understanding and communication of the client’s service expectations
- Cross selling and account rounding on assigned book of business
- Assist Producers on prospective opportunities
- Participation in written and oral RFP presentations
Successful Candidates Will Have:
- 7 Years of experience in a Property & Casualty brokerage environment
- Deep technical knowledge of Property & Casualty business
- Technical knowledge of loss sensitive, alternative risk transfer, & self-insured retentions programs
- Hold Insurance licenses as required by the Company
Risk Strategies is the 9th largest privately held U.S. brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 200 offices and more than 5,400 employees as part of the Accession Risk Management Group family of companies.
Industry recognition includes being certified a Great Place to Work in 2023 and on the Inc. 5000 list as one of America's fastest growing private companies. Risk Strategies is committed to being good stewards for our company, culture, and communities by having a strong focus on Environmental, Social, and Governance issues.