Senior Associate At An Insurance Brokerage
Job Title: Senior Associate
Education: BS in Environmental Science, Boston University
Previous Experience: I temped at an insurance brokerage company. They hired me full time as a sales assistant. That company was eventually brought by a larger company. A couple of years ago I moved to a smaller start up company and have been with them since.
Job Tasks: I work for an insurance brokerage company. As brokers, we assist companies in risk identification and analysis, and the subsequent management of that risk through risk transfer or other financial vehicles. My office's main focus is in the healthcare industry. We assist healthcare related companies with the following:
* Global excess liability program development and placement
* Policy wording and structure
* Global market access
* Alternative risk financing
* Coordination and direction of outside expertise: actuarial, loss control, clinical risk management, claims management, captive management
We also bring our clients the best possible range of alternatives with specific tailored solutions for each unique situation. We with our clients to solve any immediate difficulties, and to prepare or maintain a long-term malpractice risk management strategy.
Some of my responsibilities include gathering renewal information, analysis losses, coordinating renewal strategy meetings, coordinating board of directors meeting material, coordinating venues for board of directors meetings, bringing resources from various offices, completing renewal submissions to send to insurance carriers, setting up meetings with the client and insurance markets, negotiating with insurance markets to achieve best terms and pricing for clients, checking policies and delivering polices, follow up with carriers for endorsements, billing, secure financing proposals for clients, responding to clients questions, meet with markets throughout the year, attend industry related conferences, take continuing education courses to maintain license, conduct open items meetings, set up files, assist with prospecting, train new employees.
Best and Worst Parts of the Job: The best part of my job is working with really talented people. I must say that my colleagues are truly experts in the field.
The worst part of the job is checking insurance policies because it is very tedious. Although it is very important to make sure that it's accurate.
Job Tips: Here are 3 tips that I believe are important:
1. Always be client focused
2. It is very important to have good computer skills because it saves you so much time
3. Good communications skills is a key factor in business. Being able to articulate what you are trying to get across is very important.