Insurance Retention Agent

About the role

The pay range for this position is $69,705.00 - $104,558.00 per year. Typical new hire salaries fall within the minimum to midpoint of this range, based on qualifications and experience.

Responsibilities

• Provides excellent service to Members seeking information on insurance products offered through SchoolsFirst Insurance Services.
• Retains, services, and rounds existing accounts by maintaining and updating existing policies to provide the most favorable coverage, cost, and terms for Property and Casualty insurance products.
• Serves currently insured Members through various service channels, including 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 compares and evaluates 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.
• 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.
• Processes changes/endorsements which include, but not limited to, address changes, addition and deletion of vehicles and drivers, mortgage changes, coverage changes.
• Fulfills follow-up responsibilities with carriers to ensure changes/endorsements are processed timely and accurately.
• Handles 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.
• Submits complete and accurate applications to underwriting or processes 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.
• Binds coverage; issues evidence of property insurance to escrow and invoices for insurance premium; issues SR fillings; quotes, processes and submits endorsements.
• Handles day-to-day administrative functions including Member service follow up.
• Reviews 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.
• Maintains 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.

Qualifications

• A high school diploma or GED is required.
• A bachelor's degree in a related field or equivalent years of experience are required.
• Three to five years of prior relevant experience are required.
• A Personal Lines Insurance License or a Property & Casualty Insurance License is required.
• Well-versed in all areas of personal insurance including auto, homeowners and related property coverages, personal umbrella liability, and other personal-lines insurance.

Skills

• Excellent communication skills.
• Ability to analyze and evaluate insurance products.
• Knowledge of underwriting and rating procedures.
• Ability to work independently and manage multiple tasks.