Finance & Insurance Manager offers finance or insurance options to clients through established relationships with lenders/providers. Explains offerings and recommends products to meet the needs of the client. Being a Finance & Insurance Manager negotiates contract terms and rates to meet the goals of the organization. Ensures applications and paperwork are completed correctly and in a timely manner. Additionally, Finance & Insurance Manager may Require a bachelor's degree. Typically reports to a head of a unit/department. The Finance & Insurance Manager supervises a group of primarily para-professional level staffs. May also be a level above a supervisor within high volume administrative/ production environments. Makes day-to-day decisions within or for a group/small department. Has some authority for personnel actions. To be a Finance & Insurance Manager typically requires 3-5 years experience in the related area as an individual contributor. Thorough knowledge of functional area and department processes. (Copyright 2024 Salary.com)
Maintains client contact regarding coverages, policy changes and/or problems. This position has high client contact, authorizes policy changes, and makes important business decisions in commercial, and/or specialty lines of coverage. Reviews and obtains necessary information to evaluate and process new business and renewal commercial accounts; Identifies opportunities by rounding of accounts where applicable.
New Business
Analyzes Risk
· Secures coverage requirements through discussions with producers and develops detailed
underwriting information for presentation to insurance companies or brokers
· Collaborates with producers in reviewing complex business risk analysis, coverage
recommendations and in tailoring the needs of the client in relation to market capabilities to
ensure that the client obtains the most effective coverages
· Reviews quotes from companies and prepares insurance proposals for clients/producers, as
required
· After proposal acceptance, discusses premium terms, offer premium financing, manages
documentation to bind coverage with policy issuance instructions
· Coordinates and cooperates with other departments to achieve total account, servicing and
objectives
· Assigns assistants to prepare binders, certificates, Auto ID cards and invoice, as necessary
· Advises unsuccessful quoting companies to close their files, suspends receipts of new policy
Renewals
· Reviews expiration listing with producers and determine market availability.
· Discusses renewal strategies, completes renewal applications, review quotes received and
collaborates with producers in reviewing complex business risk analysis.
· Plans terms payment of premiums, offer premium financing, manages documentation to bind
coverage with policy issuance instructions
· Assigns assistants to prepare binders, certificates, Auto ID cards and invoice · Solicits renewal information from the insured · Submits renewal instructions · Suspends receipt of renewal policy
Three years of experience in Property, Casualty insurance
· Experience with Commercial insurance, business line customization, and/or rate negotiation
· High school diploma or equivalent preferred
· Producers license in Property and Casualty
· Personal computer experience
· Excellent problem solving, complex business risk analysis and decision-making skills on critical
business issues
· Excellent communication, organizational and time management skills
· Flexible; ability to work independently and under minimal supervision
· Performs tasks with speed, quality and accuracy