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Marsh McLennan Agency · 1 day ago

Surety and Bonds Account Manager

Orland Park, IL

Full-time

Hybrid

Entry, Mid Level

$65K/yr - $120K/yr

2+ years exp

Marsh McLennan Agency is a leading provider of business insurance and employee benefits solutions. They are seeking an Account Manager for Surety and Bonds to execute client service strategies, manage proposals, and build strong client relationships while ensuring compliance with industry regulations.

Employee BenefitsHealth CareInsuranceRetirement

Growth Opportunities

Responsibilities

Works with Producer and/or Account Executives, service team, and other internal departments to plan, execute, and track customized service strategy for each client, designed to create measurable value and efficiencies in their businesses

Manages creation of proposals, providing summary of programs and options, service plan, and other specific deliverables designed to support clients in making decisions about insurance programs

Builds personalized client relationships through demonstrated ownership of the service plan and multiple channels of communication such as phone, email, and in-person meetings

Analyzes risk, coverage, program structure and recommends options; executes coverage and program changes

Oversees the accuracy and display of information in client portals; consults with and enacts client decisions on access to portal by their staff

Leverages insurance knowledge and communication skills to explain coverage terms, program options, and other items to clients as needed

Works with internal departments to ensure cohesiveness and timeliness of service execution, and creates report of service plan execution through commitment report

Takes an enterprise-wide approach to client service by collaborating with other service teams to create a cohesive client service experience

Manages time effectively to prioritize workload, client service requests, and service parameters on business processes

Works with service team to effectively manage and oversee new business and renewal processes by following workflow procedures and best practices

Creates submission for underwriters, by engaging with clients and prospective clients on their exposures, coverages, and program needs, assembling into submission package following best practices

Communicates with underwriters on submissions and negotiates premium, coverage, and other terms on behalf of clients

Evaluates coverage, terms, and conditions of quotes received from underwriters; compares quote options from multiple carriers and presents coverage comparisons as requested

Remains current on forms, coverage, insurance carriers, industry trends, and legislation

Maintains positive working relationships with insurance carriers, attends meetings and events as appropriate, and proactively learns about their products and underwriting approaches

Consistently follows client service workflows and appropriately engages internal resources such as process support team, procedure manuals and reporting tools to ensure efficiency and accuracy of execution

Accurately maintains complete client files including the clear documentation of account detail in agency management systems including policy information, activities, attachments, and correspondence

Achieves desired levels of data completeness and process integrity by consistently meeting activity timelines, quality metrics, and goals

Participates in ongoing scheduled meetings with service team to discuss accounts, renewals, service needs, service platform, etc

Trains, guides, and mentors Client Service Representatives and other peers

Communicates effectively with Client Service Representatives and provides timely and complete information to allow them to establish positive client relationships and efficiently manage their processes and workload

Develops successful and effective working relationships with Producers, Account Executives, Client Service Representatives, service team members, managers, carriers, and members of other department

Qualification

Producers LicenseSurety bond knowledgeAccount Manager experienceAgency management systemsMicrosoft Office SuiteClient relationship managementData integrityCommunication skillsTeam collaboration

Required

Producers License for Property/Casualty or Life/Health, as appropriate for role or able to obtain within 75 days

Available to travel to both local and long-distance client meetings

Has means of transportation for local travel as needed

2+ years Account Manager experience within an insurance brokerage, or comparable experience

Support surety bond Producers, Account Executives and colleagues in day-to-day operations and client interactions

Timely execution of all bonds as requested from clients

Maintains proper level of communication and builds effective relationships with clients and companies

Gather and organize client information for each bond request in independent, direct communication and interaction with the clients

Submit current client bond requests to Underwriters, procure required approvals independently

Assist with processing and billing of renewals

Involvement in managing account premium receivables, as necessary

Learn to evaluate financial statements to assess client creditworthiness

Aid in the preparation of documentation for the underwriting process (annual updates)

Provide administrative support, including maintaining client records and managing correspondence

Assist in monitoring bond portfolios and preparing status reports

Stay updated on industry regulations, guidelines, and market trends

Have a deep understanding of surety bond products and services

Participate in training programs to enhance knowledge and skills in surety bond management

Preferred

Experience working with agency management systems

Proficient skill level in Microsoft Office Suite

Benefits

Generous time off, including personal and volunteering

Tuition reimbursement and professional development opportunities

Hybrid work

Charitable contribution match programs

Stock purchase opportunities

Health and welfare benefits

Tuition assistance

401K savings and other retirement programs

Employee assistance programs

Company

Marsh McLennan Agency

Glassdoor4.4

Marsh McLennan is an insurance company that provides business insurance, employee benefits, and private client insurance solutions. It is a sub-organization of Marsh & McLennan.

Founded in 2003

White Plains, New York, USA

10001+ employees