Career Best Info

Account Executive Jobs

Account Executive jobs involve job holders acting as intermediaries between clients and insurance companies. Clients may be either individuals or commercial businesses and organizations. Account Executive jobs require the use of in-depth knowledge of risks, sales and development skills and the insurance market to develop new commercial accounts and sales to support brokerages’ performance plans and offer the best cover for clients.

 Typical Work Activities for Account Executive jobs

Typical work activities in Account Executive jobs depend largely on the size and nature of the employer and the scale of the business. In large companies, these jobs may specialize in a core area; in small firms, Account Executive careers may require involvement in most functions, including new business development and acting as placing broker and claims broker and relationship manager.

Work activities typically include:

Achieving agreed sales and production targets
Building and maintaining ongoing relationships with clients
Researching insurance companies’ policies and negotiating with underwriters to find the most suitable insurance for clients at the best price
Taking ownership of clients’ accounts, resolving queries and problems
Renewing or amending existing policies
Marketing and acquiring new clients
Administrative tasks such as dealing with paperwork, correspondence, keeping detailed records

Skills and Interests in Account Executive Jobs

To be a good Account Executive, you need:

Strong communication and interpersonal skills;
Confidence to advise and negotiate with clients and underwriters;
High level of numeracy;
Ability to manage a number of projects concurrently;
Understanding of insurance-related legal issues;
Strong analytical skills;
Ability to demonstrate excellent strategic and operational planning in the short, medium and long term business environments;
Ability to persuade and influence others;
Attention to detail.

 Entry into Account Executive Jobs

Account Executive jobs are open to those with experience as an Account Handler, Sales Executive or for those with experience within an Insurance company in a Business Development or Sales role with strong technical knowledge of insurance covers.

 Training for Account Executive Jobs

An Account Executive generally undergoes intensive training on their employer’s business, products and services as soon as they begin in the role. This is usually a combination of structured in-house training courses and shadowing experienced colleagues. Further familiarity is gained by performing the role and learning from fellow Account Executives on an ongoing, informal basis.

 Typical Career Path for Account Executive Jobs

Account Executive jobs require success in winning new business and retaining existing business. The emphasis is on developing profitable books of business. Many successful Account Executives build a strong client base and are offered a Directorship with their Brokerage or for another company. It is also possible for a successful Account Executive to start their own business on the back of their book of business and enjoy an autonomous working career.

Progression into management is also possible, managing a team of brokers or several branches of a broking firm.

Exchange Street is a specialist general insurance recruitment consultancy working with the leading names in the UK market.