Insurance Sales Agent - Benefit Lines

NewtekOne®, Your Business Solutions Company®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries, provides a wide range of business and financial solutions under the Newtek® brand to the small- and medium-sized business ("SMB") market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses, and reduce their risk.

Newtek's and its subsidiaries' business and financial solutions include banking (Newtek Bank, N.A.), Business Lending, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.

Newtek Insurance Agency, is a retail and wholesale brokerage insurance agency licensed in all 50 states, specializing in the sale of commercial and health/benefits lines insurance products to the SMB market as well as various personal lines of insurance.

As an Insurance Sales Agent - Benefit Lines, you will be responsible for consulting and closing new prospect opportunities. In addition, this position will work with RVPs, alliance partners and the Marketing team to explore opportunities for expanding the client portfolio within the Benefit Lines. Opportunities are generated from a variety of referral sources including cross-selling referrals from existing Newtek clients. This requires the ability to organize, manage multiple tasks, manage client and company relationships, collaborate across the team, and gather and communicate technical information as it pertains to insurance.

Qualifications include but not limited to:

• Bachelor's degree or equivalent experience and a minimum of 3yrs. of working in the insurance industry at a brokerage, large insurance agency or carrier with exposure to multiple lines of business.
• Valid Life, Accident & Health Insurance License required and provide copy for file.
• Comfortable with being on video camera while engaging with clients/customers, attending company/department meetings, etc. as required.
• Strong expertise with sales and insurance implementation of Group Benefits: Medical, Dental, Vision, Short-term Disability, Long Term Disability, and Life and Accidental Death and Dismemberment (AD&D), Aflac, FSA, HSA, HRA, etc.
• Ability to calculate employee payroll deductions for clients and work cross-functionally with respective teams to ensure a positive customer experience.
• Exposures to additional Group Benefit products and coverages including but not limited to: ACA Reporting, COBRA Administration, FSA/H.S.A., Compliance Products, etc.
• Passion and drive to build the client portfolio.
• Good knowledge of insurance markets and reference to markets.
• Ability to read policies and break down coverage.
• Excellent sales, negotiation, and persuasive skills.
• Ability to close business.
• Good understanding of the appropriate markets and their relative business model.
• Possess a sense of urgency and ownership when dealing with clients and prospects of Newtek.
• Ability to make 50-75 outbound calls per day to contact clients to review policies and coverages.
• Attention to accuracy and detail in processing information.
• Ability to differentiate between agency bill clients and direct bill clients.
• Ability to multi-task in a fast-paced environment and act with a sense of urgency.
• Ability to communicate clearly, effectively, and concisely, both orally and in writing.
• Excellent time management, planning and organization skills.
• Ability to work independently as well as in a team.
• Collaborate, cooperate, and share knowledge with working relationships.
• Strong work ethic.
• Knowledge of how to use the Agency Management System, experience with BenefitPoint a plus.

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Job Responsibilities include but not limited to:

• Lead all incoming inquiries daily by contacting clients from our internal customer base to prospect, as well as reach out to alliance partner relationships, ultimately driving revenue growth and sales inclusive to all new business.
• Enhance customer experience and build relationships by presenting a professional image as you represent the company while being camera ready in accordance with company policies and procedures.
• Meet monthly production and revenue goals set for booking and binding new business.
• Qualify and analyze prospects' coverage needs, assess their risk, and consult on solutions to meet their needs.
• Utilize internal referral management system(s) daily to document progress and milestones within the sales process ensuring all documentation is detailed and accurate.
• Contact every incoming referral the same day, or next business day (if after 5pm local time).
• Contact every client once every 2-3 days after initial contact has been made, making substantive and diligent efforts to advance through the sales process via engaging in daily virtual client interaction through impactful communication across phone, webinars, emails, PowerPoint, etc.
• Ensure Newtracker referrals reflect all up-to-date activity/next steps in real time.
• Generate and distribute New Business pipelines on a weekly basis to management for review.
• Maintain queue size of approximately 110 open opportunities at any given time.
• Reach established New Business revenue goals set by management monthly.
• Ensure targeted hours for talk time with clients are met.
• Educate and consult prospects on coverages that are available and appropriate for their business informing them about policy inclusions, limitations, or changes to enhance coverage(s).
• Keep the client engaged and informed every step of the way with periodic follow-ups.
• Inform prospects about policy inclusions, limitations, or changes to enhance coverage.
• Develop and maintain relationships with clients, decision makers, RVPs to secure and earn relevant business.
• Provide consultative level of expertise to clients on ACA and its impact on small and large group employers.
• Perform sales and implementation of medical, dental, vision and other ancillary lines for small and large groups.
• Partner with Third Party Administrators with ACA required documentation and compliance (ACA reporting, COBRA administrators, FSA vendors, etc.).
• Own full responsibility of pipeline and accountability for development of pipeline opportunities.
• Strive to maintain established metrics set by management.

Customer Service

• Obtain underwriting information, prepare applications and specifications for renewal and new business submissions.
• Qualify and analyze client's coverage needs and loss exposure and recommend appropriate coverage.
• Secure all placement subjectivities by obtaining signed documentation, collecting payment, binding coverage with carriers.
• Return phone calls and respond to e-mails in a timely manner.
• Work with the marketing team to quote policies and account rounding opportunities.
• Communicate coverage terms and conditions of quotes to client.
• Regularly set expectations with clients and communicate if timeline has changed.
• Meet a minimum of 4 hours of client engagement on the phone per day.

Organizational "Fit" considerations: Newtek is seeking a team player who enjoys technical challenges within a fast-paced environment, applies sound judgment in successful task planning and execution, meet deadlines, and communicates the highest standards of professionalism in his/her appearance and work habits. If you have an interest in professional growth and joining a leading Business Solutions company, it is time to consider joining Newtek.

Newtek offers competitive salary and a performance-based bonus program to reward your results. We provide our employees with an excellent comprehensive benefits package including medical, dental, vision, supplemental benefits, and a 401(k) savings plan with an employer match. On-going training on sales techniques, industry, and competitive landscape to support your career growth.

Newtek is an Equal Opportunity Employer; M/F/D/V. We require all our employees to perform work in an ethical manner and always uphold our Code of Business Conduct and Ethics.