Job Description:
About Marsh McLennan Agency Midwest
Marsh McLennan Agency's Midwest Region is a full-service brokerage providing business insurance, employee benefits, private client insurance, and retirement services to businesses and individuals across the country. MMA Midwest is consistently recognized as a top workplace, attracting and retaining its insurance talent by rewarding expertise and investing in career development. Colleagues enjoy an award-winning culture that fosters a highly productive and results-driven working environment.
The Senior Alternative Risk Analyst plays a vital role in the daily operations of captive accounts within the Alternative Risk sector. This position is responsible for managing the technical aspects of captive accounts, ensuring effective communication with clients and brokers, and overseeing underwriting processes to deliver exceptional service. This role collaborates closely with production teams to implement customized service plans that meet clients' unique needs. It is pivotal in driving client satisfaction and ensuring financial success of captive programs.
Thought Leadership
- Broadly involved in the alternative risk industry through participation in external associations and events, forming and growing relationships with captive managers, service vendors (actuaries, TPAs, accountants, attorneys, auditors, etc.), and insurance carriers; utilizing various sources to stay updated on products, services, and legislative developments
- Manages the daily operation of captive accounts
- Serves as the primary contact for Business Insurance service teams
- Oversees captive proposal and renewal process
- Ensures compliance with regulatory requirements
Vision and Strategy
- Manages relationships with each program's Business Insurance production team and their respective captive cell members
- Ensures that all board meetings, association conferences and other external events are organized appropriately
- Communicates and understands the MMA Midwest vision, core passion, value propositions, and culture to reinforce decisions, processes, and roles within that context
- Engages in professional development opportunities to continuously improve knowledge and skills relevant to the Alternative Risk sector
Execution of Client Service
- Builds personalized production team relationships through demonstrated ownership of the service plan and multiple channels of communication such as phone, email, and in-person meetings
- Analyzes captive submission and prepares and submits documentation to underwrite renewal business and new business successfully
- Performs underwriting duties including submission review, file documentation, rating, endorsements processing, and facilitating common date insurance renewal of program
- Oversees the proposal and renewal process, ensuring accurate summaries and documentation to facilitate informed decision-making by production teams
- Serves as the primary contact with the actuary to develop loss costs/premiums for new and renewal business
- Manages monthly premium allocation for captive members/manager via advanced Excel worksheets
- Facilitates agendas and leads monthly meetings with all captive service providers; facilitates quarterly meetings with claims and risk management team to review financials and trends
- Manages time effectively to prioritize workload, client service requests and service parameters
Data and Process Integrity
- Consistently follows client service workflows and engages internal resources such as process support teams, procedure manuals, and reporting tools to ensure efficiency and accuracy of execution
- Analyzes captive program exposures and needs, preparing submissions for program vendors to secure timely information and data
- Reviews and verifies financial transactions related to captive programs, ensuring accuracy and transparency; reviews quarterly cell financials as provided by captive manager
- Creates and prepares budgets and captive proposals; participates in presentations with broker, as needed
- Accurately maintains complete client files, including all activities, attachments, and correspondence.
- Achieves desired levels of data completeness and process integrity by consistently meeting activity timelines, quality metrics, and goals
Peer Relationships
- Develops successful and effective working relationships with Producers, Account Executives, Account Managers, service team members, managers, carriers and members of other departments
- Participates in ongoing scheduled meetings with service team to discuss accounts, renewals, and service needs to ensure alignment with client expectations
- Provides support to Business Insurance teams through effective communication, training and development
Required
- 4+ years of Property and Casualty experience
- 2+ years of captive experience
- Advanced skill level in Microsoft Office Suite
Preferred
- BS/BA in Business, Insurance or related field
- Professional designations such as AINS, ACI, CPCU, or ARM
A Great Place to Work. A Great Place to Perk.
Recognized for workplace culture by the likes of Fortune Magazine, The Chicago Tribune and more, our colleagues enjoy an environment that fosters creativity as well as individual and organizational growth. A small sampling of the benefits our colleagues enjoy include:
- Medical, dental, vision, 401K benefits and more
- The flexibility to work at home or an office
- A paid day off to volunteer and company-organized volunteer events
- Up to $1,000 per year in matching charitable donations
- Up to $750 per year in wellness rewards
- A company-wide mentality that you can never appreciate your co-workers too much
Who You Are is Who We Are
MMA Midwest has created an award-winning culture largely due to meeting our colleagues where they are, celebrating their differences and building an inclusive environment. We challenge ourselves to create a workplace where our colleagues feel not only welcomed, but feel they belong; where we not only embrace diverse perspectives and opinions but seek them out; and where we ask not how a colleague fits our culture, but what they add to it.
Marsh McLennan and its affiliates are EOEMinority/Female/Disability/Vet/SexualOrientation/Gender Identity employers.
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