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About the Role
The Employee Benefits Account Executive manages an assigned book of business, develops client relationships, and delivers solutions to grow and retain clients. This role is responsible for the development and implementation of the client’s multi-year strategic plan and ensures clients have the necessary support, tools, and resources to effectively manage their health and welfare programs. The Account Executive acts as a liaison between the employer group administrator and insurance carriers.
Responsibilities
- Establishes and maintains strong business relationships with clients and insurance carriers.
- Maintains accurate and organized account files by appropriately documenting conversations and updating computer systems.
- Acquires understanding of clients’ business and insurance objectives and critically analyzes and compares insurance plans.
- Apprises clients of other HUB resources, carrier/vendor offerings, and emerging industry trends.
- Assists client with all billing issues including auditing and reconciliation.
- Develops and communicates strategy for Market Analysis, analyzes results, reports to carrier partners/vendors, and negotiates with carriers.
- Ensures all services are implemented according to established project plans and client deliverables meet quality standards.
- Facilitates client introduction and coordinates with HUB Specialty Practice Teams.
- Gathers data and prepares/conducts presentations (Renewal/OE/Post Renewal Debrief).
- Leads implementation of new and renewal plans or programs.
- Leads resolution of escalated complex service issues between clients and insurance carriers.
- Maintains regular interactions with clients to develop relationships and advise of new product and service offerings.
- Manages the enrollment process, meets with client and/or employees, and completes employer group applications.
- Partners with producer(s) to develop and implement clients’ benefits strategies, including designing benefit programs, performing financial analysis, plan assessment, benchmarking, and funding alternatives.
- Prepares and/or peer reviews (and delivers, if applicable) the EB Comp Disclosure.
- Provides benchmarking/plan assessment data.
- Provides direction on contribution modeling with Business Analysts.
- Provides feedback to sales, account management, and marketing teams for future service enhancements.
- Performs QA Review on financial and communication materials prepared by the team.
- Responsible for strategic planning, including designing benefit programs based on client objectives.
- Seeks continued knowledge and stays abreast of changes in the insurance industry and external conditions that may impact clients.
- Submits BOR letter to all carriers and follows up to obtain contracts, renewal, and benefit descriptions.
- Updates open enrollment packets, including current benefits and rates for all lines of coverage, cobra administration forms, written plan documents, and summary plan descriptions annually.
- Works closely with Producers and other HUB personnel on all aspects of client service, marketing, and renewal.
- Performs other duties and projects as assigned.
Requirements
- High School Diploma / GED; college degree strongly preferred
- 5+ years of related benefit insurance industry experience (brokerage preferred) or equivalent combination of education & experience
- Life & Health insurance License
- Experience in managing wellness programs within large accounts preferred
- Experience in self-funded account management preferred
Skills
- Strong knowledge of employee benefits products and services and how they are delivered to clients
- Knowledge of related legislation such as ACA, COBRA and HIPAA
- Confidence and demeanor to effectively interact with all levels within the organization
- Computer skills including Microsoft Office Suite, Outlook and agency management systems
- Problem Solving: Ability to identify complex problems and review related information to develop and evaluate options and implement solutions
- Critical Thinking: Ability to use logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems
- Ability to prioritize and organize multiple tasks and responsibilities in order to complete assignments on time and with optimal accuracy
- Ability to effectively and professionally communicate orally and in writing with internal and external customers
- Ability to develop and maintain strong client relationships
- Ability to work effectively with insurance and service vendors to gain cooperation in meeting clients’ needs
- Ability to respond to customer needs, solicit customer feedback to improve service, and handle difficult or emotional customer situations promptly and accurately
- Ability to effectively work with a team and coach others in developing their skills and abilities
- Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations
- Desire to learn and grow within the insurance industry
Location
- North America
Work Type
- Onsite
- Full-time
Experience Level
- 5-7 years of relevant experience
Education Level
- High School Diploma / GED
- College degree preferred
Salary/Compensations
- $80,000-$92,000
Benefits
- Health/dental/vision/life/disability insurance
- FSA, HSA and 401(k) accounts
- Paid-time-off benefits
- Eligible bonuses, equity and commissions for some positions
About the Company
- HUB advises businesses and individuals on how to prepare for the unexpected.
- HUB is one of the worlds' largest insurance brokers, focused on providing customers with peace of mind through unrelenting advocacy and tailored insurance solutions.
- The growing team of professionals across North America represents a broad, deep and one-of -a kind aggregation of entrepreneurs and leaders recognized for their excellence throughout the insurance community.
- HUB offers a competitive, exciting and friendly work environment that strategically positions employees for longevity and success.
- HUB believes in investing in the future of its employees, providing continuous opportunities for growth and development.
- The entrepreneurial culture fosters an environment that empowers people to make the best decisions for customers and the organization, focusing on expanding the industry knowledge of insurance professionals.
- HUB is committed to providing competitive and flexible benefits options that are rooted in current needs and evolve as needs change over time.
Equal Opportunity
- HUB International Limited is an equal opportunity and affirmative action employer that does not discriminate on the basis of race/ethnicity, national origin, religion, age, color, sex, sexual orientation, gender identity, disability or veteran's status, or any other characteristic protected by local, state or federal laws, rules or regulations.
- The EEO is the Law poster and its supplement is available here at http://www.dol.gov/ofccp/regs/compliance/posters/ofccpost.htm .
- EEOAA Policy
- E-Verify Program