Insurance Brokerage Trainee
10 days ago
Saint Charles
Job Description This positing is for someone interested in getting their start in the insurance industry that will allow you to grow and develop your insurance career. We are willing and ready to provide extensive training and assist you with obtaining your license to fully prepare you for the insurance industry. This combination role provides exposure to 3 positions within the Brokerage Unit- Account Manager, New Business Underwriter and Business Development Rep. After your initial introduction to workers’ compensation, your first 6 to 9 months with IPMG will be focused on learning the role of an Account Manager while working closely with our Renewal Team. During this training period, you will build the foundation needed to eventually manage your own assigned accounts. You will learn how to service existing business through effective communication, both by phone and email, with our retail agents and carrier partners. Your training will include reviewing and processing policies and policy changes through various carrier websites, as well as remarketing accounts to alternate carriers to obtain competitive quotes. By the end of this phase, you will have a strong understanding of the full account lifecycle and the skills required to provide exceptional service to our clients. You will then grow into the Workers’ Compensation New Business Underwriter role where you will learn underwriting, quoting, and binding new business. You will also evaluate new business submissions, determining quotability and deciding where it is best to rate and place the business. We will teach you how to review workers’ compensation applications, loss runs, mod worksheets and underwriting information to teach you the decision-making process of where a risk will fit best with our different carrier’s appetites. You will work with both carriers and agents to negotiate pricing and commission with the end goal of striving for a quality book of business for your territory while maintaining high quote and bind ratios. This position will work closely with their territory’s Business Development Rep to drive new business and help keep open communication with our team and our agents. You will visit agents or attend trade shows to foster the relationship with our agents and drum up new business. Essential Functions: • Review and analyze all types of Workers Compensation (WC) & Admitted Package Business (APB) renewal business., • Determine pricing for new business, renewals and commissions based on carriers’ standards., • Work independently to create new revenue for the Brokerage unit by retaining renewal premiums, making commission decisions and negotiating pricing terms in the assigned territory while also supporting other territories in meeting their goals., • Develop new ideas to help improve existing procedures and streamline processes., • Utilize carrier websites for rating comparisons., • Provide assistance and support for fellow team members on WC & APB renewal marketing and day-to-day servicing as needed., • Input data (emails, quotes, supplemental applications, etc.) into the insurance policy management system and carrier websites., • Make agent calls and send emails to prospective clients., • Use multiple platforms including but not limited to, Hubspot, AIM, Outlook and others., • Limited travel to agents and carriers for visits, outings, tradeshows, etc., • Meet company quality and time service standards for all work., • Maintain timely phone service and email responses to Agents and Carriers., • Bind new business for Underwriters or requote accounts as needed., • Locate new agents in different territories and contact them by phone or email., • Work with multiple teams and territories to help achieve goals., • Utilize all available sources of information for underwriting purposes, including NCCI, WCIRB, websites, state business websites, carrier websites, searching for risks, etc., • Extensive knowledge of all Microsoft Office Programs, • Comfortable working on a high-volume, fast-paced production team., • Strong data entry experience., • Strong written and oral communication skills., • Ability to work independently, prioritize, and multi-task., • Resourceful, organized, self-directed approach., • Desire to learn and grow within the insurance industry., • Knowledge of insurance, • 2+ years of working in an office setting or on a team. $40,000 to $50,000. Pay will be based on experience. The position is full-time, non-exempt. Core Hours: 8:00 a.m. to 5:00 p.m. Monday through Thursday. Then Friday 8:30 a.m. to 3 p.m. Occasional evening and weekend work may be required as essential -functions demand. This is hybrid position after being fully trained and would have 2 remote work from home days. Company Benefits: • 20 days of PTO each year, • 12 Holidays, 2 floating days of your choice and YOUR BIRTHDAY off!, • Medical, dental and vision coverage on day one of full-time employment, • Telemedicine is free for you and your family (day one) if you are covered under our medical plan., • 401k match, • Professional development support, • Flexible time off with an encouraged minimum time away to support a healthy work-life balance., • Life Insurance, Short term, and long-term disability on day one of full-time employment May we suggest you review our website ahead of our contact at and check us out on LinkedIn too to see what we are up to lately. Our goal is to meet the real YOU! We want to learn what makes you tick and how you want to grow in your field. And we will share more about IPMG answer any of your questions. If we feel we have a match you will have a chat with our hiring manager to discuss the technical nature of the position to ensure you have the skills needed to be a success. IPMG is committed to a diverse and inclusive workplace. IPMG is an equal opportunity employer and does not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, protected veteran status, disability, age, religion, or other legally protected status. Candidates that are selected and hired will need to submit to substance, credit, and criminal background screenings, and computer literacy testing. IPMG is an Equal Opportunity Employer—M/F/D/V