Marsh & McLennan Captive Insurance Programs Associate - Trion, a Marsh & McLennan Company in Conshohocken, Pennsylvania
BRIEF DESCRIPTION The primary role of the Captive Insurance Program Associate is to support the captive insurance programs team with the tactical deliverables of the sales, underwriting, analysis and servicing processes. This position will provide exposure to financial analysis and modeling tools to evaluate reinsurance programs and its impact on strategic business objectives, including the management and control of client risks.
The primary focus of this position will surround employee benefit programs including, but not limited to: accident, critical illness/cancer, hospital indemnity, life, disability, legal, personal lines, ID theft and warranty programs for mobile devices, electronic products, appliances and home.
ESSENTIAL DUTIES AND RESPONSIBILITIESinclude, but are not limited, to the following:
Assist with general underwriting, financial, and risk analysis support for sales teams and their respective consulting clients;
Assist in preparing plan design and financial analysis for existing and prospective customers by utilizing modeling tools and various reporting techniques;
Assist with clients’ product selection process, such as: data acquisition, request for proposal (RFP) preparation, vendor question resolution, proposal review and analysis, and client exhibit and presentation preparation;
Assist in the analysis and negotiation of rates and plan options with insurers on behalf of clients to secure the optimal risk vs return design;
Assist with the evaluation, determination and recommendation of alternative coverage, pricing options, and plan design changes based on economic analysis of available plan elements related to client goals; Perform various reporting for plan change evaluations, budget and reserve calculations, and other on-going reviews; Assist with the marketing and communication plans that yield the most effective participation rates; Assist in gathering the data and information required to complete the regulatory application processes required by the overseeing governmental agency; Maintain quality service standards and organization to assure superior client service;
Research and remain abreast of the captive insurance and employee benefit environment, new and complex insurance projects, appropriate underwriting techniques and constantly changing legislation that govern the employee benefits and captive insurance industry. QualificationsREQUIRED EDUCATION AND EXPERIENCE:
Bachelors Degree in Risk Management, Insurance, Finance, Economics and/or other related field is required; Prior experience in a large market insurance brokerage or consulting firm, captive insurance company or insurance industry is preferred; Intermediate to advanced working knowledge of MS Excel is required (i.e. ability to perform pivot tables, macros, and intermediate formulas); Intermediate to advanced working knowledge of MS PowerPoint is a plus; Effective analytical, math and problem solving skills, sound judgment, strong decision making ability, confidence to make difficult decisions and excellent communication skills; Assist with development of renewal presentations including recommendations to improve participation, introduce new products and present annual evaluation trends. Assist with the development/review of communication strategies and materials such as contracts, newsletters, benefit summaries and product brochures; Participate in special projects, including, dependent eligibility audits and benefit statements; Answer client and internal questions regarding product provisions, rules and regulations; Must be organized, detail oriented and able to translate big picture ideas into deliverable results. CON0001W-en