Immediate opening for a Wholesale Account Executive (Professional/Executive Liability Wholesale Broker) to join a growing professional/management liability insurance brokerage located in Franklin Lakes, NJ. PL Risk Advisors Inc. PL Risk is a wholesale brokerage focusing solely on Professional/Management Liability Insurance products, including E&O, D&O, EPL, Privacy, Crime and Fiduciary products. PL Risk is seeking to expand its national presence and looking for up to three new Professional/Executive Liability Wholesale Brokers. Please see description below.
Hours and Location: Monday – Friday; 8:30 am – 5:00 pm in Franklin Lakes, NJ
Overview of Position
Experienced Professional Liability Insurance broker responsible for development, oversight and management of a Professional/Executive Liability Book of Business with limited assistance with post‐closing billing, policy issuance, etc. The position reports directly to the Executive Vice President of Sales and will be responsible for supporting the company’s wholesale sales, operational and efficiency goals through professional sales techniques, great customer service, maintenance of quality relations with retailers, underwriters, clients and employees, developing new relationships and providing sales and marketing coverage by performing the duties described below.
The successful candidate will be able to work independently to grow a professional liability book of business while managing an acceptable retention. The ability to develop and maintain relationships with retail brokers and underwriters is an integral part of this position. This candidate must be a self‐starter, able to work independently, motivated to succeed and able to achieve the company’s goals and benchmarks.
Primary Job Responsibilities:
- Build and maintain a network of retail producers based on assigned accounts and the development of new contacts.
- Develop maximum sales potential through competitive sales techniques and knowledge of the company’s products and services as well as the competitions’ strengths/weaknesses.
- Build and maintain quality relations with existing assigned accounts, and increase account base and volume of sales on a consistent basis.
- Increase company revenue through consistently achieving the company’s benchmarks for retention, cross selling and new production.
- Build and maintain a network of company underwriters through relationship development.
- Develop and maintain relationships with other members of the company’s team in order to foster staff development and improve service to our clients.
- Contact insureds via telephone, correspondence or in person by traveling as frequently as necessary to meet and surpass profitable sales goals for the company.
- Periodically meet with management to reevaluate work on an ongoing basis to increase market share and achieve benchmarks.
- Continually assess quality of the company’s product offerings and work with management to develop strategies to increase the company’s market share and sales goals.
- Create customized insurance proposals to meet specific customer requirements in an efficient manner.
- Stay abreast of market conditions regarding products, product updates, service offerings and new technologies through available resources.
- Utilize company leads to expand current customer base and follow up all leads promptly.
- Maintain updated, organized files on all accounts in assigned territory.
- Complete and submit sales reports every other week on account activity, outstanding proposals, proposals secured and proposals lost with complete documentation.
- Provide information and/or follow up on insureds as requested.
- Perform other related duties as assigned.
- Excellent Oral and Written Communication Skills
- Ability to interact with underwriters, retailers and clients daily
- Excellent Negotiation Skills
- Excellent Presentation Skills
- Social Media Marketing Skills are helpful but not required
- Knowledge of Microsoft products, internet and computer skills a must
- High School Diploma or Equivalent.
- Prior P&C Professional Liability Insurance sales/brokerage experience is mandatory.
- Valid Driver’s License.
- Current Property and Casualty license.
- The position requires a criminal background check and fingerprinting for multiple state licensing.
- Designations such as RPLU, CIC, CISR helpful, but not required.
- Note: This broker will be required to obtain insurance licenses in multiple states where the company does business.
- Ranges from $50,000 ‐ $100,000 based on experience with additional bonuses based on production, retention and company achieved results.
Location and Hours:
- This position requires you to be based in the Franklin Lakes, New Jersey home office and will require limited travel to meet with retail agents, insurance companies, underwriters and to attend various industry conferences and functions.
- The position is primarily general working hours position, but does require some time outside of normal business hours as it might relate to events, travel or client meetings.
The Company offers the following benefits:
- A company health plan.
- 401K Matching program.
- Dental insurance.
- Vision plan.
For more information, please contact Justina Confer at 201-847-9175 ext. 120 or firstname.lastname@example.org