Account Manager II
FM
Norwood MA 02062 US
Established nearly two centuries ago, FM is a leading mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its policyholder-owners. These owners, who share the belief that the majority of property loss is preventable, represent many of the world’s largest organizations, including one of every four Fortune 500 companies. They work with FM to better understand the hazards that can impact their business continuity to make cost-effective risk management decisions, combining property loss prevention with insurance protection.
Overview
FM has an immediate opening for an Account Manager II to work in the Chemical Operations office in Norwood, MA.
Duties
Perform insurance servicing and underwriting activities on existing accounts and for underwriting of new business.
Responsible for overall account team strategic direction.
Serve as key/primary interface with clients/brokers on all aspects of the account including insurance products and services, engineering and claims services.
Maintain a profitable book of business by effective use of sales techniques, client relationships, risk assessments, application of sound underwriting principles and creative use of underwriting resources.
Ensure premium growth by retaining existing clients through value added service, by selling additional product lines and by establishing equitable terms and conditions on new accounts introduced by sales executives.
Ensure policies accurately reflect both the insured and FM's intent of coverage.
Provide professional advice and consultation to all clients on insurance coverages and risk management matters, making them aware of the benefits derived from various products and services offered by FM.
In conjunction with Account Engineers, establish risk improvement priorities and support efforts to obtain client compliance with loss prevention recommendations.
Protect FM's assets through creative use of company underwriting programs and adherence to published guidelines which include: Linesetting Techniques, Judicious Purchase of Reinsurance (where warranted), Timely Issuance of Binders and Policies, Catastrophe Aggregate Analysis, M.F.L. Analysis and Cross Liability Checks.
Collect outstanding premium balances in a timely manner to meet Operation's goals and objectives.
Maintain necessary licensing and continue to update knowledge of underwriting guidelines, policy forms, loss prevention practices, and insurance industry developments.
Provide strategic direction to the overall FM account team, ensuring that the Account Business Plan is implemented effectively and efficiently.
Must maintain (or obtain within 90 days) a state of MA Insurance Producer License in Casualty and Property after onboarding.
Requires Bachelor’s degree in Chemical Engineering, Fire Protection Engineering, Risk Management or related field, and 3 years of experience in any job title/occupation/position involving servicing or underwriting large property accounts in the insurance or reinsurance industries.
Experience specified must include 3 years of experience with each of the following: Chemical industry processes including fire and explosion risk hazards; Property insurance and forms; Financial statements; General loss prevention engineering terms and concepts; M.S. Office (Word, Outlook, PowerPoint and Excel); Risk identification and quantification, including interdependencies and business impact; evaluating natural hazards and associated fire perils hazards; Providing clients with customized engineered protection solutions to minimize exposures; prioritizing exposures on a location basis, and classifying facilities by insurance requirements as highly protected risk or non-highly protected risk.
Requires up to 40% domestic and international travel.
Internal Referrals for this position are eligible for the Employee Referral Program.
Employer: Factory Mutual Insurance Company
Work Location: 1175 Boston Providence Turnpike, Norwood, MA 02062
Hours: M-F, 40 hours/week
Salary: $123,926 to $178,470/year