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About the Role
The Account Manager serves as the client's service experience leader, supporting and implementing risk management and insurance program strategies. This role involves program administration, marketing, placement, and carrier management, working closely with the Account Executive and Account Analyst to meet client needs. The Account Manager acts as a trusted advisor, offering innovative solutions and technical expertise while upholding Lockton's cultural values of dignity and respect.
Responsibilities
- Serve as the primary contact for client service-related issues.
- Confirm coverage details and answer policy-specific questions.
- Provide guidance and direction during loss events.
- Interpret policy information and communicate it accurately to clients.
- Discuss business changes impacting coverage, such as acquisitions or divestitures.
- Review client contracts and advise on insurance requirements.
- Conduct meetings to address ongoing service requests.
- Prepare and gather information for client strategic plans, including exposures, loss runs, and carrier data.
- Analyze gathered information and provide recommendations.
- Coordinate communications for presentations and meetings.
- Present sections of the renewal process that were supported during marketing.
- Conduct annual commissions reconciliations and updates.
- Execute defined marketing strategies, typically for less complex lines of coverage.
- Identify and analyze client exposures.
- Interpret and evaluate policy terms to ensure adequate coverage.
- Distribute RFP requests to vendors.
- Review marketing results, conduct preliminary negotiations, and narrow market options.
- Provide recommendations to the Account Executive and producer.
- Prepare renewal presentations for client meetings.
- Collaborate with the Risk Management team on projections and financials.
- Project manage renewal implementation, working with carriers and clients on coverage changes.
- Confirm correct coverage placement and readiness for the new policy year.
- Perform secondary checks on policies.
- Project manage new client onboarding using standard checklists and tools.
- Document communication strategies and enroll clients in programs.
- Oversee Account Analyst activities for successful administrative setup.
- Manage client financial reporting and claims analysis.
- Effectively manage time and resources to ensure efficient task completion.
- Maintain quality by considering all details and ensuring accuracy.
- Build customer loyalty by exceeding expectations and cultivating trust.
- Build networks by establishing and maintaining connections with external parties.
- Collaborate with others to achieve team goals.
- Identify and understand problems and opportunities, gather and analyze information, and make timely decisions.
Requirements
- 3+ years of experience in client services for property and casualty, including servicing and placement.
- Intermediate understanding of P&C coverage lines across multiple product lines.
- Intermediate knowledge of various risk financing strategies and products (e.g., guarantee cost, loss sensitive, collateral), with strong knowledge in the guaranteed cost market.
- Basic negotiation skills related to insurance product marketing and placement.
- Strong working knowledge of the evolving vendor landscape, including new market entrants and cutting-edge products.
- Knowledge of federal and state legislation and legal issues related to the insurance industry.
- Ability to compile, analyze, and interpret financial information to support decision-making.
- Full proficiency in Microsoft Word, Excel, and PowerPoint.
- Basic presentation skills.
- Intermediate proficiency in using generative AI tools for research, analysis, communication, and workflow optimization.
- Ability to validate AI-generated outputs for accuracy and appropriateness.
- Ability to apply sound judgment regarding data privacy, security, and regulatory requirements.
- Ability to identify opportunities to improve team effectiveness through responsible AI use.
Skills
- Client Services
- Property and Casualty Insurance
- Risk Management
- Insurance Program Strategy
- Program Administration
- Marketing
- Placement
- Carrier Management
- Account Management
- Technical Knowledge
- Policy Interpretation
- Contract Review
- Financial Analysis
- Data Analysis
- Microsoft Word
- Microsoft Excel
- Microsoft PowerPoint
- Generative AI Tools
- Communication
- Negotiation
- Project Management
- Time Management
- Quality Orientation
- Customer Relationship Management
- Networking
- Collaboration
- Decision Making
Experience Level
- 3+ years
Education Level
- Bachelor's degree in a business-related program or equivalent education and/or experience in the insurance industry
About the Company
- Lockton cultural values