Account Executive, Public Entity

Ryan Specialty • Chicago, IL

4d • $56,000 - $70,000

About The Position

Position Summary The Account Executive is responsible for assisting the Broker team in executing trades, managing accounts, and navigating regulatory compliance. The role collaborates with internal teams, stays informed on market trends, and offers strategic insights about clients. They are also responsible for assisting in new business and renewal submissions, reviewing policy documents and invoices and other client service activities. What will your job entail? Job Responsibilities: Prepares accounts for new business and the renewal process as directed by the broker, initiates renewal reviews to deliver optimal client coverage and suggests steps for client retention. Supports the broker in creating market submissions and quote cover letters for agents and reviews received documents to ensure accuracy. Builds relationships with brokers and demonstrates understanding of brokerage operations to proactively support business needs. Collaborates with the broker to drive renewals and solicits new business through client referrals. Prepares new business strategies in collaboration with brokers, including proposals and presentations for new client opportunities. Evaluates and mitigates risks associated with accounts and ensures adherence to industry regulations and internal policies. Ensures accuracy of new and existing data in internal systems, creates accurate documentation, and performs functions as defined by the guidelines while meeting quality and service standards. Generates reports on performance and other defined metrics by leveraging data and insights to inform the broker on portfolio trends and delivers value that may enhance the book of business. Collaborates with internal teams to ensure contractual obligations are met. Resolves invoicing issues with stakeholders in Premium Accounting and communicates on notices of cancellation.

Requirements

• Minimum of 1 year of experience in the Insurance industry with a Bachelor’s degree.
• Bachelor’s degree required; Business Administration, Sales, and Risk Management preferred.
• Minimum requirements for state P&C and/or surplus line licenses

Nice To Haves

• Certified Insurance Service Representative (CISR)
• Commercial Insurance License (CIL)

Responsibilities

• Prepares accounts for new business and the renewal process as directed by the broker, initiates renewal reviews to deliver optimal client coverage and suggests steps for client retention.
• Supports the broker in creating market submissions and quote cover letters for agents and reviews received documents to ensure accuracy.
• Builds relationships with brokers and demonstrates understanding of brokerage operations to proactively support business needs.
• Collaborates with the broker to drive renewals and solicits new business through client referrals.
• Prepares new business strategies in collaboration with brokers, including proposals and presentations for new client opportunities.
• Evaluates and mitigates risks associated with accounts and ensures adherence to industry regulations and internal policies.
• Ensures accuracy of new and existing data in internal systems, creates accurate documentation, and performs functions as defined by the guidelines while meeting quality and service standards.
• Generates reports on performance and other defined metrics by leveraging data and insights to inform the broker on portfolio trends and delivers value that may enhance the book of business.
• Collaborates with internal teams to ensure contractual obligations are met. Resolves invoicing issues with stakeholders in Premium Accounting and communicates on notices of cancellation.

Benefits

• Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals.
• In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.
• For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level