What are the responsibilities and job description for the Account Manager - Employee Benefits/People Solutions position at Lockton, Inc.?
At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here.
The Account Manager is the service experience leader of the client team, supporting/implementing the client's benefits strategy. The Account Manager supports the client and Account Executive in program administration, marketing and placement and carrier management using an intermediate understanding of employee benefits coverages, funding vehicles and strategy, and a basic understanding of EB markets. He or she also provides direction and works with the Account Analyst to deliver on client needs. A trusted advisor who is responsive and receptive, the Account Manager provides innovative solutions and industry best deliverables through and from the development of technical knowledge.
Description:
• Primary contact for client service items including matters related to plan design, escalated account issues and areas of financial significance. Provides consultative guidance to client related to plan interpretation and complex claims issues. Manage client open items list and manages to resolution or escalates as necessary. Drives annual service calendar activities. Escalates issues as necessary.
• Prepares and gathers information that will contribute to the client strategic plan including GPS, Infolock, and carrier data. Provides recommendations and insight.
• Project management of communication strategy including the accuracy of communication materials and assuring client regulatory compliance. Works closely with the AA and carriers to assist client executing the communication plan.
• Conducts annual commissions reconciliations and updates with AA support; communicates to AE. Builds understanding of client factors that may impact billing and invoicing.
• Project Managers and executes defined marketing strategy. Distributes RFP request to vendors. Reviews and analyzes quotes from incumbent and alternative carriers and conducts preliminary negotiations and market narrowing. Provides recommendations to Account Executive and producer and prepares renewal presentation for client meeting. Presents recommendations to client on areas of experience or expertise. Works closely with financial and actuarial team on final projections and peer-reviewed financials. May receive the client acceptance of renewal strategy on certain lines of coverage.
• Project manage renewal implementation. Defining the schedule for enrollment and working with carriers and client to complete OE communication and education. Supports education of client and client's employees on benefits programs and value proposition through Open Enrollment Presentation and Communications. Confirm carriers and client are ready for the new plan year including payroll deductions, plan system configuration, enrollment data, ID cards and enrollment audits.
• Project manage new client onboarding leveraging standard checklists and tools. Document communications strategy and enroll client in standard delivered programs or client add ons. Oversee AA activities to ensure administrative set up for successful client management is completed
• Manages client financial reporting and claims analysis including providing the data to the client with key summary points. Works closely with financial and actuarial team as appropriate. Understand financial funding arrangements facts that drive plans costs and may consult with client or escalate to AM.
• Planning and Organizing: Establishing an action plan for self and others to complete work efficiently and on time by setting priorities, establishing timelines, and leveraging resources.
• Quality Orientation: Accomplishing tasks by considering all areas involved, no matter how detailed; showing concern for all aspects of the job; accurately checking processes and tasks; being watchful over a period of time.
• ·Building Customer Loyalty: Meeting and exceeding (internal or external) customer expectations while cultivating relationships that secure commitment and trust.
• Initiating Action: Taking prompt action to accomplish work goals; taking action to achieve results beyond what is being required; being proactive.
• Adaptability: Maintaining effectiveness when experiencing major changes in work responsibilities or environment (e.g., people, processes, structure, or culture); adjusting effectively to change by exploring the benefits, trying new approaches, and collaborating with others to make the change successful.
• Earning Trust: Gaining others’ confidence by acting with integrity and following through on commitments while disclosing own positions; treating others and their ideas with respect and supporting them in the face of challenge.
• Stress Tolerance: Maintaining stable performance under pressure or opposition (e.g., experiencing time pressure, conflict, or job ambiguity); handling stress in a manner that is acceptable to others and to the organization.
• Decision Making: Identifying and understanding problems and opportunities by gathering, analyzing, and interpreting quantitative and qualitative information; choosing the best course of action by establishing clear decision criteria, generating and evaluating alternatives, and making timely decisions; taking action that is consistent with available facts and constraints and optimizes probable consequences.
• Building Partnerships: Developing and leveraging relationships within and across work groups to achieve results.
• Valuing Differences: Working effectively with individuals of diverse cultures, interpersonal styles, abilities, motivations, or backgrounds; seeks out and uses unique abilities, insights, and ideas from diverse individuals.
• 3 years’ experience in client services in employee benefits consulting including servicing and placement.
• Bachelor's degree in a business-related program or equivalent education and/or experience in the insurance industry
• Intermediate Knowledge of group benefits in multiple product lines (e.g., medical, dental, life, AD&D, disability)
• Intermediate knowledge of financial arrangements and products available to clients (e.g., fully insured, minimum premium, ASO)
• Relationships with insurance/carrier markets in assigned areas, or ability to develop same immediately
• Basic negotiation skills related to marketing and placement of insurance products.
• A strong working knowledge of the changing vendor landscape including new entrants into the marketplace and cutting-edge products and solutions
• Knowledge of federal and state legislation and legal issues related to the insurance industry
• Ability to compile, analyze and interpret financial information to facilitate decision making
• Full proficiency in the use of Microsoft Word, Excel, and PowerPoint.
• Basic presentations skills
Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity.
At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences. As such, we recognize that recruiting, developing and retaining people with diverse backgrounds and experiences is vital and enabling our people to thrive personally and professionally is critical to our long-term success.
Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000 Associates doing business in over 100 countries are empowered to do what’s right every day.
At Lockton, we believe in the power of all people. You belong at Lockton.
At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it.
We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing.
Any Employment Agency, person or entity that submits an unsolicited resume to this site does so with the understanding that the applicant's resume will become the property of Lockton Companies, Inc. Lockton Companies will have the right to hire that applicant at its discretion and without any fee owed to the submitting Employment Agency, person or entity. Employment Agencies, who have fee Agreements with Lockton Companies must submit applicants to the designated Lockton Companies Employment Coordinator to be eligible for placement fees.
