Account Executive

Job Summary

The Account Executive plays a vital role by providing professional customer service to all clients. This position supports and contributes to the overall sales goals for the company including the implementation of strategies to meet long-term and short-term goals for growth, including cross-sell opportunities and developing new business.

The primary purpose of this position is to market and sell commercial insurance programs and policies, and develop new business, while providing professional customer service to all clients. The Account Executive directly supports and contributes to the overall sales goals for the company including the implementation of strategies to meet long-term and short-term goals for growth, including cross-sell opportunities and developing new business.

This role may become involved in sharing sales strategy best practices with team members, supporting the establishment and tracking of sales targets, and providing regular reports to senior management.

Roles and Responsibilities

• Generate new business sales for the organization, meeting and/or exceeding assigned revenue targets for personal and/or commercial insurance to new and existing clients.
• Assess risks, prepare proposals, market to insurers, calculate premiums, bind coverage, and prepare documentation, based on client needs.
• Maintain an annual retention rate of 92% or better on book of business.
• Develop and implement personal and/or commercial sales/business development plan to meet individual sales targets, including cross-selling and upselling current book of business.
• Persistently engage and respond to leads to convert inquiries into customers to meet desired close ratios.
• Respond to client inquiries and assess the needs of potential clients to advise on coverage requirements.
• Offer continuous support from quote to bind to deliver a seamless client experience in a very timely and efficient manner.
• Demonstrate a thorough understanding of insurance company products, internal processes and systems.
• Coordinate payment/financing arrangements.
• Conduct ongoing renewal reviews with Personal and/or Commercial Account Managers.
• Prepare and participate in renewal negotiations and remarketing, as required.
• Obtain quotes for new and existing clients
• Work as a team with Account Managers and other Account Executives
• Maintain knowledge of new products and initiatives.
• Maintain monthly sales records and provide reports to management.
• Maintain accurate up to date files and monitor insurance claims activity.
• Respond to Insurance Company inquiries
• Ensure adherence to all corporate guidelines and mandates including proper rating/underwriting strategy, coverage, and usage of insurance markets.
• Participate in various projects, as needed.
• Maintain professional level of confidentiality and high standards of business ethics.

Qualifications

• RIBO license is required
• Post-secondary education in a related discipline (e.g. Business, Sales/Marketing) or equivalent combination of education and experience; CAIB, CRM, CIP designations are considered assets
• Minimum 5 years’ experience in personal and/or commercial lines insurance sales and service
• Excellent negotiation skills; demonstrated by successfully closing deals and sales contracts
• Strong conflict resolution skills with the ability to influence decisions and gain agreement and/or support
• Demonstrated commitment to high standards of performance and to ongoing professional and technical development
• Extensive knowledge of insurance trends, developments, products, insurance laws and general application, and sales concepts and their insurance application.
• Previous experience with the territory or sector serviced, and competitor’s activity in the marketplace
• Understanding of business strategy and its effect on client and corporate goals
• A results-oriented professional with a strong work ethic
• Take initiative and pay impeccable attention to detail and deadlines
• Strong analytical and decision-making skill: demonstrated proficiency and resourcefulness in identifying and analyzing relevant data and defining critical issues and alternatives
• Outstanding communications skills including effective use of digital communication technology and social media platforms

Working Conditions

• Substantial use of electronic media required- telephone and computer
• Substantial local travel to meet with prospective and existing clients required
• Overnight travel may be required
• Inspection of prospective and existing client properties as needed
• Availability outside of “normal business hours” is likely