Broker - Mining and Metals

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Broker - Mining and Metals

  • Location:

    United Kingdom

  • Contact:

    Piere Forbes

  • Contact email:

    piere.forbes@equitycity.co.uk

  • Contact phone:

  • Job ref:

    422

  • Published:

    17 days ago

  • Expiry date:

    2024-07-26

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