Stop Loss Sales Executive
Physicians Insurance A Mutual Company provides traditional, first-dollar medical professional liability insurance, medical stop loss, provider excess, and reinsurance coverage to more than 7,500 physicians, practices, corporations, and hospitals in Washington, Idaho, Oregon, and Wyoming. Through its subsidiaries, the company also provides alternative risk financing vehicles and captive management with corresponding risk-management consulting, continuing medical education, and claims administration services. Founded in 1981, Physicians Insurance has grown to be the largest locally-based insurer of physicians in its region, and is rated A- (Excellent) by A.M. Best Company. Physicians Insurance maintains corporate headquarters in Seattle, with regional and subsidiary offices in Spokane, WA, Portland, OR, Milton, VT, and Orlando, FL. We are proud to have a long history of excellent operating results and a commitment to our policyholders, our employees, and the communities we serve. We currently have an exciting opportunity for a Stop Loss Sales Executive.
The Stop Loss Sales Executive will be responsible for new Employer Self-Funded Stop Loss business within the company’s core markets. Production of new Provider Excess and/or HMO Re business is a plus. The Stop Loss Sales Executive will also work with the company’s leadership team supporting strategy development, product development, and growth optimization.
Responsibilities include but are not limited to the following:
- Build and grow deep relationships with PNW brokers and Third-Party Administrators (TPAs) to support the generation of RFPs for the company. Broader relationships a plus.
- Identification of the key areas of focus for each opportunity to generate a higher potential of closing new business.
- Work closely with the company’s internal staff to ensure timely and accurate response to RFPs.
- Effective use of closing strategies to support business growth and a higher close ratio – this can include pricing strategies and risk structure discussions across the spectrum of stakeholders.
- Develop new relationships with brokers and TPAs, where needed, to support the company’s expansion into new territories.
- Create and maintain a strong pipeline of new opportunities across the states where the company can write business (AK, CO, ID, MT, OR, UT, WA, WY, and more currently in progress).
- Meet annual sales target goals.
- Obtain meaningful feedback from brokers and TPAs to help the company continue to improve in competitiveness and market presence.
- Support and enhance existing relationships with brokers and TPAs.
- Maintain a comprehensive understanding of the market – including external and internal industry conferences or forums.
- Support the development of the company’s current growth strategies.
- Collaborate with the creation or update of sales materials.
- Internal and external stewardship of the company’s values.
- Perform other duties as required.
- 4-year college or university degree in Business Administration, Liberal Arts, or a technical and analytically related field or equivalent work experience.
- The position must have the equivalent of 10 or more years of progressive experience in the employer stop loss industry with a strong sales track record and growing a book of business. Experience with Provider Excess and HMO Re is a plus.
- Demonstrated ability to present highly technical information to various audiences including sales focused meetings.
- Active Life and Disability Producer license (resident or non-resident).
- Exceptional knowledge of appropriate practices to sell stop loss products.
- Ability to work in a collaborative team environment.
- Working knowledge of marketing, claims, finance, and administration
- Strong analytic and detail-oriented skills
- Strong interpersonal skills with the ability to act with tact and diplomacy
- Ability to handle multiple tasks and RFP’s effectively and efficiently
- Demonstrated technical ability to work with Microsoft Office Suite
- Ability to work in a collaborative team environment