Marsh McLennan Agency - Interview Preparation

Policy Checking

When an insurance company issues a policy, a human has to look over it to make sure the coverage limits, premiums, and deductibles exactly match what was actually quoted. ________ ensures the carrier didn't make a typo that leaves a client underinsured.

Endorsement (a.k.a. rider, amendment)

Any change mad to an active, existing policy (ex. a client buying a new company vehicle or changing their office address).

Return Premium (RP)

If an endorsement reduces coverage, money is owed back to the client.

Additional Premium (AP)

If an endorsement adds coverage, the client is billed more.

Cancellations and Reinstatements

Managing the timeline when a policy is terminated (often for non-payment) and reversing that termination if the client catches up on payments before the coverage completely lapses.

Certificates of Insurance (COIs)

Snapshot document proving a business has insurance (ex. a construction client needs to show a ________ to a property owner before they are allowed to start working on a job site).

Sagitta

An Agency Management System (AMS). A specialized CRM for insurance brokers where all client profiles, policy limits, vehicle schedules, and billing data live.

ImageRight

A paperless document management and workflow tool widely used in insurance. It tracks tasks, incoming digital mail, and stores scanned policy documents systematically.

Commercial General Liability (CGL)

Protects a business if a third party gets hurt on their property or by their product (ex. a customer slips and falls).

Commercial Property

Covers damage to the business's physical building, equipment, and inventory from events like fire or windstorms.

Workers' Compensation

State-mandated insurance that covers medical bills and lost wages for employees injured on the job.

Commercial Auto

Covers vehicles owned and used by the business for work purposes.

Final Audits

At the end of the policy year, an ________ calculates the actual payroll, and the client either gets a bill or a refund.

Carrier

Refers to the insurance company.

Policy Checking cont.

When an insurance company (the carrier) issues a policy, it has to be reviewed word-for-word against what was originally requested (the quote/binder). ________ is the process of hunting for errors, missing coverages, or incorrect premiums before the final document goes to the client.

Endorsements cont.

An amendment or addendum to an active insurance policy. If a client buys a new building, sells a vehicle, or changes their address mid-year, your process an _________ to change the policy.

Certificates of Insurance (COIs) cont.

A one-page document that proves a client has insurance. Third parties (ie. landlords, clients of your clients) request these daily to ensure they won't be held liable for accidents.

"Dating off holders"

Updating or archiving old recipients of Certificates of Insurance (COIs).

Auto ID Cards

The standard proof-of-insurance cards individuals keep in their glove boxes, but managed on a commercial scale for corporate fleets.

Schedules of Insurance

A clean, organized summary sheet provided to the client that lists all of their active policies, policy numbers, expiration dates, limits, and premiums in one place.

Return Premium (RP) cont.

If a client cancels a policy early or reduces their coverage, the insurance company owes them money back. Your job will be tracking down this _________ check from accounting to make sure the client gets refunded.

Reinstatement

If a policy is canceled (usually because the client forgot to pay their bill), but they pay the balance quickly, the carrier will ________ the policy, meaning it becomes active again without a gap in coverage.

Final Audits

Commercial insurance policies (ie. Workers' Compensation, General Liability) are often priced based on estimates of a company's payroll or revenue. At the end of the policy year, an _______ looks at the actual numbers. If the business grew, they owe more money; if it shrank, they get a refund.

California Fire and Casualty License

State-issued license to legally transact and service property and casualty insurance in California.

Designations (Associate in General Insurance (AINS), Accredited Adviser in Insurance (AAI))

Structured training programs that teach you the fundamentals of risks and coverages.

Client Analyst

Handles the foundational execution, documentation, data entry, and processing tasks.

Client Administrators (CA)

Handle intermediate account servicing, mid-market client requests, and policy coordination.

Client Managers (CM)

Acts as the primary strategi contact for the client, managing renewals, coverage negotiations, and overall relationship health.