Financial Institution Group Associate Broker Intern (Summer 2024)

New York, New York
Full time
Posted
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NFP Corp.
Insurance & superannuation
5,001-10,000 employees
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Who We Are:

NFP is a seven-time Best Places to Work award winner in Business Insurance who has also earned the 5-Star Diversity, Equity and Inclusion (DEI) award from Insurance Business magazine and the WORK180 employer endorsement. We’re a recognized Elite Agency award winner and a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor. NFP provides solutions enabling client success through the expertise of over 8,000 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors and financial institutions. To learn more, please visit: https://www.NFP.com.

Summary of Role:

The Associate Broker Intern is responsible for working with internal and external resources to service client accounts. The Associate Broker Intern works closely with the Sales Executives (Producers), Account Executive, and the Broker/Placement team, to ensure service projects are completed in a timely manner.

Scope of Responsibilities:

This position works with internal sources and external clients. The position partners with key established stakeholders within the entire NFP enterprise on opportunities.

Responsible for assisting the primary Broker/Placement team on both new and existing financial institutions clients. Works collaboratively with the Broker/Placement team, Account Managers and Sales Executives (Producers) to assist in the servicing, development and retention of consultative, partnership relationships with clients and prospects.

Primary Responsibilities:

  • Organize and help lead the information gathering process for new and existing clients including submission requests and follow-ups with clients.
  • Interact with carrier partners by providing submission information and soliciting quotations.
  • Create formal account documents to aide in the presentation to clients, including renewal strategy proposals and memos, marketing summary updates, proposal documents, and final placement summaries.
  • Assist in collection and checking of carrier policy documents, including quotations, binders and policies, via direct interaction with carrier partners.
  • Correspond directly with clients to help facilitate information requests, gather carrier subjectivity information and provide policy documentation (electronic copies of quotes/binders/invoices/policies and schedules of insurance).
  • Participate on various carrier/client conference calls and department meetings.
  • Manage internal filing and system functions for renewals and new business, including saving important policy documents, binding and invoicing policies in the system as well as organizing file documentation. Continue to follow up and manage that payments are made. If they are not, work with the client / markets to avoid NOCs.
  • Generate and issue certificates of insurance.
  • Work directly with internal accounting group to help arrange premium financing for clients.
  • Work directly with internal filing group to ensure surplus lines filings are completed and submitted.
  • Assist the Broker with managing their book of business, including maintaining book of business schedule and providing support in initiating the renewal process for existing accounts.
  • Provide support in training and development of Processors/Coordinators and other NFP staff, as needed.
  • Complete other related duties as assigned.

Education:

  • Pursuing BA/BS degree currently; rising seniors preferred

The hourly rate for this position is $20.00 – $25.00 per hour. The hourly rate offered will be determined by factors including, but not limited to, experience, credentials, education, certifications, skill level required for the position, the scope of the position, and geographic location. Actual hourly rate offered will be determined on a case-by-case basis.

NFP and You... Better Together!

NFP is an inclusive Equal Employment Opportunity employer.