Senior Account Manager - Group Captive Insurance Management

WTW · Chicago

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Summary 
A captive is a licensed insurance company that is established to enable an entity to manage, or in the case of a group captive, multiple entities to manage and finance their risk more efficiently.  The role of the Captives & Insurance Management Solutions Practice is to then manage the captive once an entity has established it.  The Captive Account Manager will work assisting the team in producing accurate and pertinent financial, insurance and accounting information on a timely basis to enable the Captive Boards to make informed decisions.  This will include liaising with the parent company, insurance regulator, directors, and service providers in respect of the above.

This position is a senior client-facing role responsible for directly supporting commercial Property and Casualty Insurance client relationship management efforts and coordinating all service activity at the program level.   The senior Account Manager/Financial Analyst is a key member of the client service team responsible for facilitating the delivery of program level strategy and providing program consultation to clients. 
 

Note: visa employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity.

The Role
Serve as the primary financial reporting liaison for assigned captive clients, providing technical expertise and oversight across member escrow accounts, loss billing, captive financial statements, and member equity reporting. This role is responsible for managing client financial reporting, supporting underwriting and renewal activities, maintaining strong client relationships, and identifying opportunities for organic growth within an existing portfolio.

Key Responsibilities

Client Financial Reporting & Oversight

Act as the subject matter expert and escalation point for financial reporting matters, including:

• Member escrow accounts
• Loss billing reconciliations
• Captive financial statements
• Member equity statements

Responsibilities include:

• Preparing and reconciling monthly financial data with the Domicile Manager (DM)
• Preparing, reconciling, and analyzing loss billing activity with carriers and the DM
• Preparing, reconciling, and analyzing member escrow statements semi-annually
• Preparing, reconciling, and analyzing member equity statements annually
• Preparing, reconciling, and analyzing collateral requirements for insureds and carriers

Client Portfolio & Revenue Management

• Manage and retain revenue within an assigned client portfolio
• Identify and support organic growth opportunities
• Deliver proactive client service and relationship management

Pre-Renewal Strategy & Planning

• Lead internal renewal strategy meetings, including: 
  • Program performance reviews
  • Expiring exposure analysis
  • Client service agreement reviews
  • Service planning and delivery discussions
• Partner with Producers and Account Executives to facilitate external client strategy meetings
• Document meeting outcomes, action items, and next steps

Underwriting & Program Management

• Collaborate with broker partners and insureds to gather underwriting information
• Review client exposure updates and provide coverage recommendations
• Monitor exposure trends and risk transfer pricing across assigned programs
• Develop underwriting materials and exhibits for annual board meetings as needed
• Present underwriting and program information to management and captive boards of directors
• Develop program-level proposal content and document coverage decisions and changes
• Process bind orders and ensure timely delivery of binders and coverage documentation
• Coordinate premium invoicing, collection, and premium cession activities
• Monitor policy issuance and endorsement processing while serving as liaison between brokers and carriers

Client Service & Administration

• Coordinate and prepare materials for client meetings and presentations
• Present information to client boards and committees as required
• Respond promptly to client inquiries and deliver best-in-class client service
• 20% travel involved

Relationships

Internal Partnerships:

• Collaborate with internal teams to ensure consistency of processes and service delivery
• Coordinate with cross-functional departments to support client and program objectives

External Relationships:

• Build and maintain strong relationships with: 
  • Clients
  • Broker partners
  • Insurance carriers
  • Third-party service providers

Success Measures

• Accurate and timely financial reporting
• Effective management of client programs and renewals
• Strong client retention and satisfaction
• Growth within the existing client portfolio
• Successful collaboration with internal and external stakeholders

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