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Insurance Contract Review Specialist
Marsh & McLennan Companies
Austin, TX, United States
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Description
Summary
Responsible for reviewing the insurance requirements on contracts received from designated Marsh clients. Identifies and extracts pertinent insurance information from contracts, compares the client’s policies against the contract, determines product lines, and makes recommendations to the client based on their insurance program. The ideal candidate will be well versed in insurance terminology and possesses a high degree of attention to detail. This position has no supervisory responsibilities and no direct reports.
Responsibilities
Contract Review Guidance
• Review the insurance section of proposed third party vendor contracts for designated Marsh clients and advise insureds before they finalize agreements.
• Act as initial reviewer for contracts sent by clients and client teams
• Determine which lines of coverage are involved in the contract
• Compare contract requirements against policy or policies
• Determine if the insured has proper coverage and limits of liability
• In some instances, the request is forwarded to the appropriate Marsh colleague for further review
• Occasionally, the contract review specialist is required to make a recommendation to the client to make updates to the policy to align with the contract’s requirements.
• Provide guidance to Certificate team on certificates issued in connection with client contract insurance requirements, where needed.
Client/Client Team Communication
• Receive inbound inquiries from clients and/or client teams (via email, phone, Siebel, etc.)
• Respond to requestor with recommendations
• Communicate with carriers on endorsements that may be needed to be added to the policy.
• Follow up with appropriate party for resolution
• Request the Certificate of Insurance or any other post binding document if needed per the contract
Special projects and duties as assigned
Education
• College degree or equivalent work experience
Experience
• 3-5 years of insurance, financial services, or related industry experience (claims management, client management, contract review or processing)
Knowledge and Skills
• Proficient in Microsoft Office tools – Outlook, Word, PowerPoint and Excel
• Excellent organization skills – ability to prioritize work and meet deadlines
• Skilled at navigating complex and difficult scenarios and providing guidance
• Ability to work autonomously and make sound business decisions
• Talent for research and the ability to communicate findings to stakeholders
• Clear and concise oral and written communication skills
• Outstanding interpersonal skills – ability to work within a team and with colleagues at all levels
Other Requirements
• P&C license or the ability to obtain a P&C license within 60 days of hire
Qualifications
Broker Licenses Required - Any
Contract Review Guidance
Review the insurance section of proposed third party vendor contracts for designated Marsh clients and advise insureds before they finalize agreements.
Act as initial reviewer for contracts sent by clients and client teams
Determine which lines of coverage are involved in the contract
Compare contract requirements against policy or policies
Determine if the insured has proper coverage and limits of liability
In some instances, the request is forwarded to the appropriate Marsh colleague for further review
Occasionally, the contract review specialist is required to make a recommendation to the client to make updates to the policy to align with the contract’s requirements.
Provide guidance to Certificate team on certificates issued in connection with client contract insurance requirements, where needed.
Client/Client Team Communication
Receive inbound inquiries from clients and/or client teams (via email, phone, Siebel, etc.)
Respond to requestor with recommendations
Communicate with carriers on endorsements that may be needed to be added to the policy.
Follow up with appropriate party for resolution
Request the Certificate of Insurance or any other post binding document if needed per the contract
Special Project and duties as assigned
Test Skill 1
High School Graduate