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