Account Executive Position,
Account Executive Position,
Colorado Springs, Colorado
Independent Insurance Agency that specializes in Commercial Insurance and bonds.
An Account Executive acts as direct support to the Agent. They specialize in carrier relations, quoting new business, renewals, and assisting the Agent to meet their premium goals.
The Account Executive position is a large part of our fulfillment process and highly relied upon to complete the quoting and binding process for each client and the carrier relationships, including being the first point of contact for the marketing reps for each company we represent.
This position requires a high level of understanding of our carriers to include company contacts, carrier appetite, underwriting guidelines, quoting and binding steps for each carrier. This person will also be responsible for maintaining accurate record of current commissions and promotions from each carrier we represent. There will be several required courses to take with each carrier to ensure the understanding of quoting in the system.
This position also requires insurance coverage knowledge. Training is done weekly in house, but it is expected this person continues to take other training regarding insurance coverage that is available to them in webinars, classroom settings, and such.
This position requires a close relationship between the AE and Agent. These two must communicate on a daily basis regarding the status of quotes and all updates made during the quoting period must be recorded by the AE so the Agent knows what is going on at all time. The AE will keep a detailed log of all quotes or declinations by carriers and store that information into the appropriate databases. The AE will also do a policy checklist on each policy written during the week to double check the work of other team members to ensure all items have been completed.
- Principles of insurance: Familiarity with the principles of insurance.
- Insurance market: Familiarity with the trends and major driving factors in the insurance market, insurance methodologies and practices, and the identification of the major stakeholders in the insurance sector.
- Types of insurance: Knowledge of the various types of risk or loss transfer policies that exist and their characteristics as it pertains to Commercial Insurance
- Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
- Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking: Talking to others to convey information effectively.
- Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Writing: Communicating effectively in writing as appropriate for the needs of the audience.
- Customer service: Processes and principles related to the customer, client, service user and to personal services; these may include procedures to evaluate customer's or service user's satisfaction.
- Time Management: Managing one's own time and the time of others.
- Service Orientation: Actively looking for ways to help people.
- Negotiation: Bringing others together and trying to reconcile differences.
- Social Perceptiveness: Being aware of others' reactions and understanding why they react as they do.
Pay Scale: This position ranges from $37,400 - $41,338 in the first 3 years with an anticipated 5% wage increase per year. Bonuses will be available to Account Executives in the amount of 15% of commissions paid to the company for any of their own referrals that they brought in and quoted. They also are bonused 5% on the total profit (any amount over the monthly premium needed for overhead) of the agency each month. Any carrier promotions are also given to the AE that quoted that business with the carrier if Agent chooses to write the policy with that carrier.
Required Education: Must hold a current Colorado P&C license and have a minimum of 1 year experience in Commercial Lines insurance.
Work Schedule: Office hours are Monday through Friday from 8am to 6pm. This position is a 40 hour/week position. 2 days of the week will be work from home if desired.