An account manager executes various duties which are projected in managing his/her employer’s client relationship and developing new business from the present clients. Every industry appoints account managers to maintain the firm’s as well as the client accounts. The responsibility of an account manager differs depending on the type of business. However, the main objective of an account manager is to continue the company’s relation with its existing clients, in order that they persist to maintain business with the company. He/she also identifies prospective new clients and business prospects and persuades them to set business with his/her company.
Account mangers work with sales department, customer service department and account executives to make sure that the operations are operating smoothly, the clients are content, the funds are being used appropriately. Also prepare budgets, estimates and agendas to ensure that the projects and products are complete on time and operate correctly. They are required to have a thorough knowledge of the company’s products and services, and are in charge of working with the clients and identify their requirements and ascertain best possible methods the company can to fulfill those necessities, so that the client does not opt to transfer business somewhere else.
An account manager usually deals with the existing customers and save the creation of new accounts to the sales team. In most businesses, the development executive intently seeks out new clients. After a client is drawn in, the account manager takes over. An account manager has to sustain or surpass the minimum amount of sales referred as quota which is provided to him/her by the sales manager. Account managers may deal with a single account or a range of clients depending on the company size. Account managers are usually required to prepare diverse reports of the sales department. After the reports are created, they are presented to higher management. An account manager may depend on the support of an administrative professional, but it is common for them to carry out their duty them self, particularly if employed in a smaller organization or at a lower professional level.
A Claims Account Manager reviews standard insurance claims to verify that the payments and settlements have been made according to the company practices and procedures and also monitor the underpayments and report overpayments and other indiscretions. He/she processes claims for payment, answers queries about those claims and report concerns to the supervisor and also discuss with legal counsel on claims requiring legal action. Appraises benefits and services, and provides suggestion on health benefit plans and value added services that helps to achieve the employers’ goals and needs and which might also impact the employer’s company policy.
Some best practice qualities required to be an excellent accounts manager are:
- Exceptional communication skills – should be able to relate straight away with people, develop understanding and confidence.
- Good organizational skills – when dealing with various matters and numerous stakeholders and also the ability to forecast and be primed.
- Good sales technique – should be responsible for sustaining and expanding business.
- Have ambition, great attitude and hungry for a new challenge.
- Should have firm research aptitude, completely comprehend the target audience. Also should have the capacity to take criticism.
- Should have outstanding time management skills, converse clearly with the stakeholders and enhance focus to detail.
- They listen, guide and support. A great Account Manager not only manages clients well, but is also a good manager of people and has the ability to effectively manage a team.
Auspice is idyllically suited to work within managed accounts. The accounts management team at Auspice works with recognized account structures which is innovative and puts focus on applying prescribed investment strategies across a broad range of commodity and financial markets. Auspice’s account managers are seasoned and conventional. Their experience and skill verify is the backbone of their strategy for making profits while conserving capital and managing risk.
Girija Shaffer , CEO & Founder of Auspice Risk, has developed a full suite of customized risk management services offered nationally to Risk Managers, Insurance Program Managers, Brokers & Agents. Recognized for her ability to increase customer retention rates, increasing business development opportunities and providing outstanding customer service.