Insurance Retention Agent

SchoolsFirst Federal Credit Union • Santa Ana, CA

2d • $69,705 - $104,558 • Onsite

About The Position

Provides excellent service to Members seeking information on insurance products offered through SchoolsFirst Insurance Services. Responsible for retaining, servicing and rounding existing accounts by maintaining and updating existing policies in order to provide the most favorable coverage, cost, and terms for Property and Casualty insurance products. Serves currently insured Members through various service channels, including, but not limited to phone, in-person, or digitally, to collect and discuss each Member’s personal lines insurance needs and financial information. Analyzes information collected from currently insured Members and compare and evaluate possible insurance products to develop individualized advice and strategies for each Member based upon each Member’s insurance and financial status, risk tolerance, and objectives to ensure Member’s needs are adequately protected. This includes explaining and discussing with Members the advantages and disadvantages of various insurance products. Provides individualized advice and recommendations to Members on the purchase of insurance products while ensuring consistent, accurate, timely, and pertinent communication. Prepares quotes for Members and determines best options available. Works directly with insurance carriers as a Member advocate, which may involve premium cost discussions as well as getting the carrier to agree to write the policy, despite various risks which may be present. Process changes/endorsements which include, but not limited to, address changes, addition and deletion of vehicles and drivers, mortgage changes, coverage changes. Responsible for following up with carriers to make sure changes/endorsements are processed timely and accurately. Address insurance company memos such as requests for exclusion forms, employment information, undeliverable mail, inquiries of potential household members. Handle Notice of Non-Renewal and Remarketing of policies to increase retention on book of business. Actively quotes changes and increases in insurance coverage. Rounds out accounts through cross selling to Members; leaves good documentation of all contacts. Responsible for submitting complete and accurate applications to underwriting or to process endorsements, which includes: Ordering and reviewing reports including Motor Vehicle Report (MVR), Comprehensive Loss Underwriting Exchange (CLUE), Riskmeter, Earthquake and Flood zones to determine which company to write policy with; Process replacement cost calculation; Explain process and complete application and payment options. Bind coverage; Issue evidence of property insurance to escrow and invoice for insurance premium; Issue SR fillings; Quote, process and submit endorsements. Handles day-to-day administrative functions including Member service follow up. Responsible for reviewing policy renewals and cancellations. Provides consultative services to Members regarding credit union products and services by assessing the Member's needs, addressing their concerns and gaining agreement. Responsible to maintain knowledge of underwriting and rating procedures for all types of personal lines policies. Ensures comprehensive underwriting guidelines are met on products and services offered through Insurance Services. Updates the team and frontline on relevant changes to insurance products. Works closely with Members to provide solutions for their ongoing insurance needs, which may include processing policy changes and responding to Member inquiries regarding existing insurance accounts. Performs other duties as assigned Complies with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. Failure to do so may result in disciplinary and other employment related actions.

Requirements

• High School Diploma or GED required
• Bachelor's Degree in a related field or equivalent years of experience required
• 3-5 years of prior relevant experience required
• Personal Lines Insurance License Or Property & Casualty Insurance License required
• Well-versed in all areas of personal insurance including auto, homeowners and related property coverages, personal umbrella liability, and other personal-lines insurance

Responsibilities

• Retain, service, and round existing accounts by maintaining and updating existing policies.
• Serve currently insured Members through various service channels to collect and discuss insurance needs and financial information.
• Analyze information and compare insurance products to develop individualized advice and strategies.
• Explain advantages and disadvantages of various insurance products.
• Provide individualized advice and recommendations on purchasing insurance products.
• Prepare quotes for Members and determine best options.
• Act as a Member advocate when working with insurance carriers.
• Process changes/endorsements such as address changes, vehicle additions/deletions, mortgage changes, and coverage changes.
• Follow up with carriers to ensure timely and accurate processing of changes/endorsements.
• Address insurance company memos and requests.
• Handle Notice of Non-Renewal and Remarketing of policies.
• Quote changes and increases in insurance coverage.
• Cross-sell to Members to round out accounts.
• Submit complete and accurate applications to underwriting or process endorsements.
• Order and review reports (MVR, CLUE, Riskmeter, Earthquake and Flood zones) to determine policy writing companies.
• Process replacement cost calculations.
• Explain processes and complete application and payment options.
• Bind coverage and issue evidence of property insurance.
• Invoice for insurance premiums.
• Issue SR filings.
• Quote, process, and submit endorsements.
• Handle day-to-day administrative functions, including Member service follow-up.
• Review policy renewals and cancellations.
• Provide consultative services regarding credit union products and services.
• Maintain knowledge of underwriting and rating procedures for all types of personal lines policies.
• Ensure underwriting guidelines are met for products and services.
• Update the team and frontline on relevant changes to insurance products.
• Provide solutions for ongoing insurance needs, including processing policy changes and responding to inquiries.
• Perform other duties as assigned.
• Comply with regulatory compliance and assigned training requirements.

Benefits

• Pay ranges built to allow for candidates with various levels of skill and experience
• Room for growth and tenure achieved in a role over time
• World-Class Personal Service
• Financial security

What This Job Offers

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