Benefits Analyst - Employee Benefits

Colonial Group; Chicago (IL); On-site; USD 60,000 - 75,000; Full time

Job summary

Colonial Group is seeking a customer service oriented professional to support Producers by servicing existing mid-market accounts and soliciting new business. You will work with client teams to craft renewal strategies, prepare detailed plan designs and cost information, and manage census and RFQs to secure favorable proposals.

You will analyze market proposals for benefits and premiums, negotiate with carriers, and ensure data accuracy in the agency management system while delivering excellent

Qualifications

• Bachelor's Degree or equivalent combination of education and experience.
• Two (2) or more years of related work experience.
• Valid Insurance License.
• Must continue to meet Continuing Education requirements for license renewal.

Responsibilities

• Provide customer service and support Producers by servicing existing accounts and soliciting new business.
• Determine bid and renewal strategy for mid-market client accounts with client team.
• Prepare cost information, plan designs, and RFQs for service team.
• Identify client characteristics, benefit needs, design, demographics and census.
• Analyze market proposals for benefits, premium, and competitiveness.
• Negotiate with incumbent and bidding carriers for competitive rates.
• Produce cost/benefit analyses for client proposals.
• Maintain data integrity in agency management system.

Skills

Microsoft Office

Verbal communication

Written communication

Customer service

Problem solving

Time management

Teamwork

Typing 30–35 wpm

Multitasking

Education

Bachelor's Degree or equivalent

2+ years related experience

Insurance license

Job description

Responsible for providing customer service and supporting Producers by servicing existing accounts and soliciting new business. Independent responsibility for servicing and retention of assigned customers and policies in mid-market accounts.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Works with client team to determine bid and renewal strategy for mid-market client accounts;
• Provides detailed plan design and cost information to service team;
• Works with client or prospective client to identify and evaluate the client’s specific characteristics including; benefit needs, design, group demographics and employee census; may assist with benchmarking and trend analysis;
• Gathers information and provides analysis and recommendations to client’s existing coverage;
• Requests census and RFQs from client, primarily for ancillary coverages;
• Processes RFQs received from clients;
• Prepares RFPs for client renewal or prospective groups, to include employee census, current/renewal plan design/rate information, and historical claims experience data;
• Collaborates with client team to select employee benefit markets for solicitation and negotiates with incumbent and bidding carriers for benefit and premium considerations;
• Analyzes market proposals for verification of benefits, premium, and competitiveness;
• Negotiates with incumbent and bidding carriers to ensure most competitive rates or products for clients and prospective clients;
• Serves as a technical expert, assisting other team members to resolve complex issues;
• Produces cost/benefit analysis for inclusion in proposal to be presented to clients;
• Complies with agency management system data standards and data integrity (enters and maintains complete and accurate information);
• Other duties as assigned.

QUALIFICATIONS

EDUCATION / EXPERIENCE

• Bachelor's Degreeor equivalent combination of education and experience
• Two (2) or more yearsof related work experience
• Encouraged to complete Career Path requirements as communicated by Supervisor
• Valid Insurance License
• Must continue to meet Continuing Education requirements for license renewal

SKILLS

• Proficient in Microsoft Office Suite
• Good verbal and written communication skills
• Good customer service skills, including telephone and listening skills
• Good problem solving and time management skills
• Intermediate typing skills (30-35 wpm)
• Ability to work within a team and to foster teamwork
• Ability to prioritize work for multiple projects and deadlines

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