Job Description
Job Summary: The High Net Worth (HNW) Personal Lines Account Manager is a seasoned professional responsible for managing and servicing a complex book of business for affluent individuals and families. This role requires a deep understanding of sophisticated personal lines insurance products, exceptional client relationship management skills, and the ability to provide tailored risk management solutions to clients with unique and substantial assets. The HNW Account Manager acts as a trusted advisor, ensuring comprehensive coverage and delivering a superior client experience.
Key Responsibilities:
Expert Client Relationship Management:
- Serve as the primary point of contact and trusted advisor for an assigned portfolio of high net worth clients.
- Cultivate and maintain strong, long-term relationships through proactive communication, regular reviews, and personalized service.
- Understand complex client needs, lifestyles, and asset profiles to provide bespoke insurance and risk management solutions.
- Act as an advocate for clients with carriers, resolving complex issues and advocating for optimal outcomes.
Advanced Policy and Risk Management:
- Design, implement, and manage comprehensive personal lines insurance programs, including but not limited to:
- High-value homeowners (primary, secondary, seasonal residences)
- Luxury auto and collector vehicles
- Private aviation and marine
- Excess liability (umbrella) with high limits
- Fine art, jewelry, and valuable collections
- Domestic staff liability
- Kidnap & Ransom, cyber liability, and other specialized coverages.
- Conduct in-depth risk assessments and provide expert recommendations to mitigate exposures.
- Negotiate complex terms, conditions, and pricing with domestic and international carriers specializing in HNW markets.
- Oversee policy renewals, endorsements, and changes, ensuring accuracy and optimal coverage.
Collaboration and Coordination:
- Collaborate effectively with internal teams (e.g., sales, claims, commercial lines, life & health) to provide holistic solutions.
- Coordinate with external partners such as wealth advisors, estate planners, family offices, and other professional service providers.
- Assist clients with complex claims, providing guidance and support throughout the process.
Market Knowledge and Compliance:
- Maintain an expert-level understanding of the HNW insurance market, including product innovations, carrier appetites, and industry trends.
- Ensure all client activities and policy transactions comply with regulatory requirements and company standards.
- Actively participate in professional development and continuing education to enhance expertise.
Business Development Support:
- Identify opportunities for account rounding and cross-selling additional lines of business.
- Support new business initiatives by assisting with proposals and presentations for prospective HNW clients.
Required Skills and Qualifications:
Insurance Expertise:
- Active state Property & Casualty (P&C) Insurance License.
- Extensive knowledge of personal lines insurance products, with a specialized focus on high net worth coverages and markets.
- Strong understanding of risk management principles applicable to affluent clients.
- Familiarity with domestic and international insurance markets for HNW clients.
Client Management & Communication:
- Exceptional interpersonal and relationship-building skills, with a proven ability to interact confidently with high-net-worth individuals and their advisors.
- Superior verbal and written communication skills, including presentation and negotiation.
- Discretion, professionalism, and a high level of integrity.
Analytical & Problem-Solving:
- Strong analytical and critical thinking skills to assess complex risks and tailor solutions.
- Adept at problem-solving and navigating intricate client scenarios.
- High attention to detail and accuracy in all aspects of work.
Technical Proficiency:
- Proficiency in agency management systems (AMS) and strong command of Microsoft Office Suite (especially Excel, Word, Outlook).
- Ability to leverage technology to enhance client service and operational efficiency.