Employee Benefits Account Executive
Direct Hire
Direct Hire
Work Location:
Partial Remote - Hybrid
Job ID:
8073
Job Description
Employee Benefits Account Executive needed for an Insurance Agency in Schaumburg, IL
Under the direction of the Vice President, the Account Executive interfaces with an assigned list of accounts and acquires new accounts involving the Company’s portfolio of products (i.e., life, medical, dental, disability or other types of insurance.) This individual oversees insurance accounts and is required to retain the clients’ business; give audience to existing clients; advise them on the status and requirements of their insurance accounts; and get to know their needs and provide solutions that are appropriate.
Job Duties can include, but are not limited to:
The Account Executive needs to be comfortable with various types of funding to include FF, LF, SF and captive experience is a plus!
The book will be small to start, with room to accept new clients. Typically, account leads have books of 15-20 high-touch groups. If the groups are large and complex, the number of accounts might be reduced accordingly.
To be successful in the role, you should meet the following requirements:
Under the direction of the Vice President, the Account Executive interfaces with an assigned list of accounts and acquires new accounts involving the Company’s portfolio of products (i.e., life, medical, dental, disability or other types of insurance.) This individual oversees insurance accounts and is required to retain the clients’ business; give audience to existing clients; advise them on the status and requirements of their insurance accounts; and get to know their needs and provide solutions that are appropriate.
- HOURS: Full-Time Hours, Monday to Friday
- DURATION: Direct Hire
- WORKSITE: Hybrid schedule offered. MUST RESIDE in or near the Schaumburg area!
- Will be required to be in office one or two times a month, however, the AE needs to be available and willing to come in as needed.
- To start, it is strongly suggested the AE report to the office once or twice a week as to build internal relationships with the team!
- This role also requires TRAVEL – up to 25% regional travel in this role.
- PAY: $115,000 - $150,000, depending on experience.
- ???????To qualify for $125k - $150k, the qualified candidate will need to have 15+ years of Account Executive experience, a strong skill set in an AE role, and stable job history (meaning 3+ years at current/past jobs).
- BENEFITS: As a valued member of the team, this client offers a comprehensive benefits package, including:
- 4 medical options, including PPO/HSA with Anthem Blue Cross and HSA with sterling HSA
- Employer annual contribution to HSA: $1000 single/$2000 family (pro-rated)
- Employee contribution for Medical, Dental, and Vision: 18% for employee only, 35% of dependent premium
- Dental: Principal POS plan with $2000 max coverage
- Life/AD&D: Flat $20,000 coverage
- Voluntary Life: Up to $300,000 coverage
- Vision coverage
- LTD: 60% up to $6000 monthly benefit
- Voluntary benefits available with AFLAC: Cancer, Accident, Critical illness, Hospital, and more
- 401k with employer matching (eligibility after 1 year of employment)
Job Duties can include, but are not limited to:
The Account Executive needs to be comfortable with various types of funding to include FF, LF, SF and captive experience is a plus!
The book will be small to start, with room to accept new clients. Typically, account leads have books of 15-20 high-touch groups. If the groups are large and complex, the number of accounts might be reduced accordingly.
- Relationship management of client.
- Proactive development and execution of client benefit strategy and annual renewal cycle.
- Knowledge of self-funded medical insurance and ASO, including negotiating stop loss, claims utilization review, and analyzing claims data to recommend cost-containment measures.
- Proficient understanding of compliance (ACA, ERISA, HIPAA), benchmarking, renewal & marketing (RFP), reporting & analytics, and able to independently perform these functions and explain to client.
- Responsible for the marketing process which includes obtaining client census, submitting RFP, and evaluating quotes in preparing renewal proposal and recommendations for clients.
- Communicate due dates, timelines and expectations to clients and partners with respect to annual renewal process as well as compliance requirements.
- Ability to independently lead client meetings and presentations.
- Coordinates onboarding of new clients.
- Strong knowledge of and relationships with vendors.
- Delegates tasks, training, and onboarding as appropriate.
- Monitors and recommends opportunities for client revenue enhancement.
- Recommend or initiate actions to service the client effectively and proactively.
- Identify, plan, and develop methods and procedures to obtain greater efficiency and effectiveness of client benefit programs.
- Develop sales or cross-selling opportunities with current clients.
- Special projects as assigned which may include client presentations, functions, and meetings.
- Update and maintain client benefits admin portal at renewal and throughout the year as needed.
- Builds and maintains solid relationships with existing clients by providing exceptional ongoing services and care.
- Maintain accurate client and policy data and documents.
- Acts as a liaison between carriers and vendors and communicates accurate details relating to benefits program in a timely manner.
- Coordinate and attend open enrollment meetings as necessary.
- Participate in market meetings, seminars and training programs as directed.
- Expected to have regular client contact as established by the service checklist and renewal timeline.
- Client contact will include all methods including email, telephone, and in-person as needed.
- Assist in new business opportunities and developing retention strategies for existing clients by working collaboratively with Client Executive Team.
- Ability to guide and mentor junior-level staff to grow within the team.
- Sharing market expertise with clients and keep them well-informed of compliance related issues and new benefit offerings on the market.
- Takes full accountability of client and ensures proper communication and satisfaction at all levels (e.g., HR contact, executives, and any expat decision-makers).
To be successful in the role, you should meet the following requirements:
- Bachelor’s degree from four-year college or university, or equivalent work experience.
- Minimum of five or more years of recent employee benefits-related experience within an independent agency environment.
- Proficient with MS Office Suite.
- Strong mathematical and analytical skills.
- Ability to maintain a high level of confidentiality.
- Excellent verbal and written communication skills.
- Ability to work independently and make accurate decisions and demonstrate good judgement.
- Detail oriented with excellent organizational and time/project management skills.
- Must hold an active IL Life/Accident and Health Insurance Agent License.
- Must understand basic underwriting principles, the mechanics of self-funded plans and PBMs.
- This position may require routine or periodic travel which may require the teammate to drive their own vehicle or a rental vehicle. If required, acceptable results of a Motor Vehicle Record report at the time of hire and periodically thereafter, and maintenance of minimum acceptable insurance coverages are requirements of this position.
- Maintain positive working relationships and clear communication with co-workers, clients, and insurance carriers.
- Must be available for offsite meetings with clients including travel to out-of-state locations as needed.
- Need to be able and willing to support the Business Development team when going after new prospects on the Employee Benefits side (new biz commission eligible).
- Must be willing and able to make decisions, do your own renewal presentations, guide clients, not just present options. The AM/AE leads work with producers, not “under” them. Need to be a decision-maker and can take the initiative to talk clients through things.
- Need to have compliance knowledge and help clients stay up to date.
- Must have a sense of urgency and stay on top of deadlines.
- Quick response to clients is required, even if still working on something for them, give them an update.
- Must be detail oriented! For example, look at the margins and font sizes of the documents before sending them out, cc the relevant parties, etc.
- Working from home requires keeping the same work hours and being available to your team and clients. Must be ready to start work at your scheduled time and be presentable and ready for Teams calls, etc.
Meet Your Recruiter
Sharlene Theakston
Director of Recruiting
Sharlene has been with SDI Staffing since 1998. She is most passionate about recruiting, helping candidates find a successful career in insurance, and assisting clients with finding the top talent they are seeking. Currently, Sharlene works as the Director of Recruiting / Sr. Account Manager. She evaluates applicants on their skills, education, work history, personality and salary requirements. She also works with clients to assist them in their search for applicants that have the experience and skills they are seeking for their office. Sharlene is also a mentor and assists the team with training and answering any questions about staffing or office procedures. She is an active member of Professional Women in Insurance, California Staffing Professionals and the American Staffing Association. She is trained in CA Employment and Sexual Harassment Law (FMLA, Meal & Rest Periods, Exempt & Non-Exempt Employees, etc.).
Sharlene was born and raised in San Diego, CA. She enjoys traveling as well as spending time with her husband, their two Labs, family and friends.
About Schaumburg, IL
Explore exciting job opportunities in and around Schaumburg, Illinois today! Nestled in the vibrant state of Illinois, Schaumburg offers a perfect blend of city convenience and suburban charm. This thriving area boasts a dynamic business scene with a plethora of companies across various industries, including technology, healthcare, and finance. With easy access to attractions like Woodfield Mall, boasting over 300 stores, the renowned LEGOLAND Discovery Center, and world-class dining options such as Chicago Prime Steakhouse, there's never a dull moment in Schaumburg. Don't miss out on the chance to be part of this bustling community and take your career to new heights in Schaumburg! Start your job search now.