Job Title: Broker
Reporting to: Line Manager as agreed
Location:Tower Place, London
Job Purpose:

• Developing placement solutions for clients through utilisation of significant risk expertise and knowledge of industry and carriers.
• Driving senior placement/technical support activities on assigned accounts, to ensure contract execution as required.
• Implementing the Placement strategy to achieve growth goals and provide exceptional client service.
• Developing the go-to-market strategy and articulate the value of placement function, participating within pricing of services as applicable.
• Advising on changing insurance and risk management market conditions, informing client executives, client advisors, and/or clients of major developments affecting various types of products/coverage.
• Creating and maintaining relationships with practice, insurance markets, clients’ carriers and/or underwriters to provide cohesive client service.
• Interfacing closely with client executives and client teams to support client retention and new business production.

Main Responsibilities:

• Ownership of a designated list of accounts.
• Procurement of quotations and placing of risks in the insurance market, including mid-term amendments
• Planning the broking and placing of business with clients and colleagues.
• Obtaining the most competitive deal with the broadest coverage from the local / international markets to fit client’s specifications.
• Meeting new business and renewal targets given by the departmental management.
• Advising management about client issues or trends through clear and concise communication and participating in development of solutions.
• Facilitating submission of coverage specifications and obtaining quotes from carriers based upon the “assist, advise, and assume” transaction Model.
• Binding coverage and responsibility for the accuracy of placement binders.
• Placement of risks into the London insurance market.
• Securing agreement to mid-term amendments from insurers in the London insurance market.
• Establishing information required by insurers and/or market to obtain comprehensive indication/quotation.
• Formulating a broking strategy according to type and scale of the risk, working with other colleagues as required.
• Planning a market approach with colleagues.
• Working collaboratively with other Bowring Marsh colleagues / offices as required on individual placements.
• Ensuring a clear client focus and that Treating Customers Fairly (TCF) disciplines are applied.
• Providing support to broking leaders.
• Maintaining comprehensive and accurate files and records of the negotiating process including file notes of meetings and telephone conversations as well as complying with Bowring Marsh standards.
• Developing and maintaining market knowledge and relationships with a broad range of underwriters.
• Maintaining awareness of the pricing levels in the marketplace utilising relationships at the most effective level to achieve competitive pricing and conditions.
• Keeping abreast of trends and new developments within the marketplace.
• Ensuring adherence to the Firm’s Standards and Procedures.
• Using PPL in accordance with the Bowring Marsh Policy.
• Working to reduce errors, learning from feedback provided.
• Carrying out such projects and other duties and tasks as may from time to time be specified by management.

Other:

• Completion of mandatory training requirements as may be required from time to time by the firm and within the timeframes given.
• Completion of the Firm’s CPD requirements, currently 35 hours per year, in a timely manner.

Special Skills:

• Negotiating and interpersonal skills
• Product, industry and market knowledge
• Planning and prioritising
• Team working