Reschini Group Work Values

Daily Duties at Reschini Group:

RESCHINI GROUP RESPONSIBILITIES Family owned independent insurance agency and was originally hired ( 7th employee ) as a salaried employee and accountable for the management and growth of a credit life and disability insurance product offering sold through financial institutions to their consumer clients throughout parts of Western Pa. In short time, I recognized the ability to manage this program more efficiently without the need to continue making monthly visits to 40+ branches. Most important, I knew I had the skill set to sell. And in time, generate higher margin revenue for the agency and myself via a commission arrangement, in addition to this initial responsibility. My first account I wrote was an Allied Moving&Storage agent in Indiana Pa., and as a result of the owner and I being friends, he provided additional referrals of counterparts in this industry. I immediately identified the need to create a program to provide a more comprehensive package for this client base as the result of identifying “coverage gaps” that no insurance carrier at the time would cover. Namely, coverage’s pertaining to customer goods in storage and while in transit, along with the need for a workers compensation related safety program for their employees that could result in a premium savings. About this time I was promoted to Vice President and became a shareholder. I gathered all the necessary data and successfully negotiated with two separate insurance carriers to develop and implement a property/casualty and workers compensation program specific to this industry. After presentations to their associations in Pa. and Maryland, the program were underway and at one point 50+ agents (Allied, Mayflower, United etc…) were participating in both programs. In addition, we started to get involved in cross selling group health insurance and I discovered the potential for a new concept that could save school districts money on premiums paid for the health insurance for their employees. This all came about after discussions with a dear friend of mine who at the time was a school superintendent. The need arose to add additional staff to prepare for what was coming and moved into a much larger facility and I starting to have to wear many hats (assisting with accounting, budgeting, employee relations etc...) and saw the need to add additional staff to develop expertise in certain areas due my wanting to focus on generating revenue. As a result, and due to the increased work load and importance of retaining the bank and moving and storage programs, we hired additional production staff which I mentored for the purpose of transitioning these books of business. I also redirected a large portion of my commissions along with it to help offset the cost, knowing I could make it up and then some by focusing on larger accounts. The school district concept was centered around the concept of the “ law of large numbers”, and at the time, the owner and I presented the idea to Blue Cross of Pa. and Pa. Blue Shield whereby all districts within a county ( Intermediate Unit ) would “pool together” their individual loss experience and premium payments into one large group in the effort to soften the potential volatility of an extremely high rate increase any school may receive in a given year if their loss experience was unfavorable. It was understood and inevitable that in certain years some school districts with favorable experience would offset those with less favorable experience. A few years later, and as the result of the unpredictability of the health insurance renewal calculation which contain “actuarial projections?” regarding future claims and administrative cost trends, we introduced the concept of a self funding arrangement whereby the consortiums established a cooperative trust fund for the collection of monthly premium payments, which our agency billed on behalf of the carrier. Using the same previous renewal calculation, we would assist each consortium in determining a certain total funding level they were comfortable with. The key being, the participants collectively determined the amount to pay in and not the carrier. So now they paid in the following month their actual claims, administrative cost and the premium for Stop Loss insurance (protection from catastrophic claims) so as not to go over budget. In other words, the expenses paid “were what they were” without the arbitrary actual projections and premiums paid in advance. All along, I became more involved in all aspects of agency operations in helping to support the rapid growth but mainly focused on the role of being the sales manager setting and monitoring individual results since I am sales and results driven. Upon my departure, I was still handling some large P&C customers, but my primary focus was on the management and retention of 80+ school districts throughout Western Pa. At that time, I had produced and was retaining approx. $2.5 Million in agency revenue (less the bank and moving storage premium I assigned) which represented about 33% of total agency revenues of approx. $ 7.5 Million.

What they like about Reschini Group:

Organizations with strong, centralized leadership are particularly attractive to you. You require a work environment with leadership that aggressively seeks to expand and grow the business and does so in a visible and decisive manner. In general you prefer to work in an environment in which there is a strong link between leadership, its actions, and a strong set of company-wide values.

Tags

Senior Management, Sales Management, Supervisor, Insurance , Vice President, President, Executive Management, Sales, Visionary, Strategic Planning and Budgeting, Organizational Management, Mergers and Acquisitions

Skills

P&L responsibilities, Technology Solutions, Sales Support, Requirements Analysis & Specification, Leadership , Strong oral, written and interpersonal communication skills, Independently driven and motivated , Outgoing personality

These are some of the questions we asked our climbers about their experiences with Reschini Group: