Associate Broker Relationship Manager

Overview

Wellfleet, a Berkshire Hathaway company, delivers customer-centric accident and health insurance, with quality service and uncompromising ethics. Wellfleet works to protect people against risk throughout every stage of life – from grade school to college to the workplace. Founded in 1993 as Consolidated Health Plans (CHP), Wellfleet, headquartered in Springfield, Mass., is one of the nation’s leading providers of health and accident insurance products to the higher education market.

The Associate Broker Relationship Manager (Assoc. BRM) is responsible for providing support on accounts that involve broker-facing engagement. The Assoc. BRM will support the VP, BRM to manage a broker’s block of student health accounts with Wellfleet by providing strategic directions and consultation to the broker. This includes assisting with preparing and maintaining documents, proposals and reports, establishing broker/client relationships to manage and resolve escalated service issues with the broker (and client as needed), identifying opportunities for service enhancements that provide operational efficiency, and ensuring broker satisfaction and client retention.

The Assoc. BRM will also assist the VP, BRM in working with the assigned brokers to engage in qualified new business opportunities, support the broker strategy, coordinate broker events, and foster those connections. The Assoc. BRM will assist in reviewing plan utilization to identify trends, claim drivers, and expense patterns that tie into renewal rate actions. The Assoc. BRM will be knowledgeable in all facets of account services, including plan administrative functions and internal systems.

The objective is to support the VP, BRM to ensure broker and client satisfaction, grow the block of business with the broker, and maintain profitability.

In this role, you will…

• Maintain a current knowledge base of the insurance market and related company insurance products and services
• Develop relationships with key brokers and their staff
• Engage with Student Health leadership team to review the broker engagement strategy, including coordinating meetings, reward trips, annual meetings, and external communication campaigns
• Lead presentations with brokers, including Wellfleet service initiatives, stewardship meetings, and renewal negotiations
• Identify and direct applicable marketing support to provide relevant industry updates and value prop dissemination
• Serve as a liaison with internal account management teams to address escalated service issues and support effective client satisfaction and positive impression of the Wellfleet brand
• Ensure that Wellfleet products are competitively positioned based on client needs, requests, and expectations
• Collaborate with the Underwriting team to ensure product/service requirements are clearly understood, relevant claims information has been obtained, requested aspects are documented and accounted for, and marketplace competition positions are anticipated
• Understand the clients’ product and service requirements and work with sales and product leadership to align Wellfleet’s product development, case setup, underwriting and other internal resources and services to meet the clients’ needs
• Identify and close opportunities to acquire new student health insurance clients and promote Wellfleet’s value product to market
• Understand the company sales goals, target profiles, retention and profitability modeling, and underwriting methodology
• Conduct renewal negotiations with brokers to ensure retention of existing accounts
• Assist in the internal communication of inter-departmental programs that require an external narrative to brokers to increase closed sales outcomes
• Manage oversight of assigned renewal book of business to achieve company profitability targets
• Perform other duties as assigned

We are looking for candidates with…

• Bachelor’s degree in business or related field and 2+ years of relevant client services or account management experience or equivalent combination of education and experience
• Possess and maintain an active and valid Accident, Health and Sales Producer license or have the ability to obtain required industry licensing
• Ab…