Inside Broker

Ryan Specialty; New York (NY); On-site; USD 172,000 - 215,000; Full time

Job summary

A leading company in the insurance sector is seeking an Inside Broker to assist in managing profitable business and provide technical expertise. The role includes collaborating with brokers, managing client inquiries, and conducting risk assessments. Ideal candidates will have a bachelor’s degree and significant industry experience, coupled with strong communication and negotiation skills.

Benefits

Comprehensive benefits package

Paid parental leave

Mental health services

Qualifications

• 5+ years in Wholesale Brokerage or Commercial Insurance Sales
• State P&C or surplus line license required.

Responsibilities

• Assist the Broker in managing accounts and ensuring client satisfaction.
• Analyze risk exposures and recommend suitable insurance markets.
• Drive revenue development through assigned sales targets.

Skills

Commercial insurance knowledge

Risk analysis

Client communication

Negotiation

Sales skills

Account management

Education

Bachelor’s degree

Master’s degree preferred in Business Administration, Sales, or Risk Management

Job description

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Position Summary

The Inside Broker is responsible for assisting the Broker in developing, managing, and sustaining profitable business by providing high level technical expertise. The role is responsible for managing a broker’s book of business in-house using deep knowledge of initial risk assessments to secure the best coverage and place it smoothly in the right market. They provide customer service, resolve client inquiries through efficient communication, and process routine and complex transactions accurately.

Position Summary

The Inside Broker is responsible for assisting the Broker in developing, managing, and sustaining profitable business by providing high level technical expertise. The role is responsible for managing a broker’s book of business in-house using deep knowledge of initial risk assessments to secure the best coverage and place it smoothly in the right market. They provide customer service, resolve client inquiries through efficient communication, and process routine and complex transactions accurately.

What will your job entail?

Job Responsibilities

• Collaborates with brokers to craft seamless service and strategic market placement for commercial accounts, ensuring client satisfaction and loyalty.
• Demonstrates knowledge of commercial insurance coverages, evaluates submissions from retail insurance brokers, and identifies exposures and coverage required.
• Analyzes risk exposures and coverage needs from broker submissions, exercising independent judgment and discretion to strategically place risks with optimal carriers.
• Determines suitable insurance markets for quote requests, secures quotes, and manages the placement process according to broker and market agreements.
• Analyzes and negotiates optimal quotes terms for coverage and pricing and explains quote details to brokers to facilitate binding decisions.
• Ensures lead generation through outbound calls, analyzes online and phone quote activity, and identifies opportunities to expand the business.
• Drives revenue development and growth of personal book of business through assigned sales targets.
• Partners with retail agencies and brokerage, acting as a key liaison between insurance markets and retail brokers and addressing their needs.
• Ensures meticulous account management by attaching and maintaining all necessary documents for the appropriate policy and account.
• Participates in assigned educational courses, professional designations, and licensing programs
  
  

Work Experience And Education

• Bachelor’s degree required, Master’s degree preferred; Business Administration, Sales, and Risk Management preferred.
• 5+ years of work experience in Wholesale Brokerage, Commercial Insurance Sales or Underwriting with a Bachelor’s degree or 3 years of work experience with a Master’s degree is preferred.
  
  

Licenses & Certifications

• State P&C and/or surplus line license is required.
  
  

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target salary range for this position is $172,000.00 - $215,000.00 annually.

The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at [e-mail]

The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Insurance

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