Junior Broker
Junior Broker
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Job Description
Summary:
Junior Broker position within the Facultative GB business unit reporting to the Head of International. Responsibility for placing retention and servicing of existing International cedants as well as the development and successful conversion of new business. Exciting opportunity to join a team that has high growth targets and will be looking to win significant new business in the near future; considerable opportunities to grow and develop.
The Role:
- Ability to manage relationships and negotiate placement with the (re)insurance market
- Work with other Account Executives and Sales Team in determining appropriate solutions and structuring and pricing the deal
- Identify appropriate markets and determine placing strategy
- Create and grow relationships with underwriters in London and international markets
- Assist in determining appropriate solutions structure price and placement strategies that meet the clients needs and deliver profitable business for a range of clients
- Liaise with cedants and build strong relationships.
- Understand apply and where necessary explain the BU policies and procedures.
- Networking internally with other BUs within the sector and with external specialists (lawyers TPAs insurers).
- Deliver optimisation of revenue from new and existing clients through the use of the full range of appropriate placement channels and markets for the specific client segment of the business
- Grow existing portfolio by identifying new-new and/or new from existing opportunities.
- Draw on expertise within the team and across the Group for clients as required.
- Ensure ongoing compliance with WTW guidelines and procedures.
- Ensure good relationships and communication with other WTW associates
- A thorough understanding and an expert real time user for all relevant systems
- Understand the clients business and risk management needs and look for solutions to deliver those needs through the provision of ongoing service
Business Development
- Assist with the drive of the sales process and business area practice activity in relation to winning retaining and developing profitable new clients.
- Assist with the development and maintenance of prospects including research initiation of contact meetings responding to RFPs new business presentations accurately maintaining CRM database in order to create and convert sales opportunities.
- Respond quickly and accurately to new business introductions as well as renewal submission.
- Actively identify opportunities to work with colleagues across the business to capitalise on account penetration and cross-selling opportunities.
- Develop and maintain knowledge of relevant products and services offered by WTW.
Placement Management
- Work closely and maintain working relationships with key market contacts
- Ensure transparency of agency and other commitments made to carriers and cedant clients.
- Manage compliant processing of contracts/MRCs as per FCA and contract certainty requirements.
- Assist with loading of data into the relevant WTW systems including the Broking Platform.
- Check contracts market presentations and client documentation as appropriate.
- Assist with and design programme and pricing structures to best meet the clients needs and wishes based on knowledge of the client the reinsurance market and industry sector proposition.
Operational and Service Delivery
- Communicate effectively with clients cedants colleagues and markets.
- Assist with development of service plans that define the engagement and timing of engagement with the cedant.
- Ensure adherence to Group policies procedures and all regulatory requirements.
- Provide feedback on corrective action required to retain cedants or enhance process performance actively supporting the implementation of any actions that are put in place.
Qualifications
The Requirements:
- Working towards the ACII qualification
- A good knowledge of the (re)insurance market to address client and technical issues
- Computer specific skills:
- Good communication negotiation and interpersonal skills
- Excellent technical skills
- Good presentation abilities
- Ability to assimilate and apply large volumes of information rapidly
- Negotiation skills coupled with the ability to be flexible and innovative
- Ability to work both independently and as part of a wider team
- Able to prioritise manage deadlines and work under pressure
- Must be able to forge links between broking and client servicing teams
- Ability to adapt personal style to work effectively with a wide range of clients colleagues and underwriters
- Must be prepared to work with integrity and openness always complying with FCA requirements.
- Good IT skills with excellent Excel usage capability including:
- Broking Systems
- MS Office
- Power BI
- PQ / RIC
Equal Opportunity Employer
At WTW we believe difference makes us stronger. We want our workforce to reflect the different and varied markets we operate in and to build a culture of inclusivity that makes colleagues feel welcome valued and empowered to bring their whole selves to work every day. We are an equal opportunity employer committed to fostering an inclusive work environment throughout our organisation. We embrace all types of diversity.
At WTW we trust you to know your work and the people tools and environment you need to be successful. The majority of our colleagues work in a hybrid style with a mix of remote in-person and in-office interactions dependent on the needs of the team role and clients. Our flexibility is rooted in trust and hybrid is not a one-size-fits-all solution.
Required Experience:
Junior IC
Employment Type
Full-Time
