Senior Account Broker - Wholesale

Job Description

JOB RESPONSIBILITIES

WHOLESALE SENIOR ACCOUNT BROKER

New Business - PI Insurance for Intermediaries

1 To take care to explain the different types of cover available and the extensions, endorsements and any subjectivities which may apply to the policy before incepting cover.

2 To contact broker prospects to identify decision makers, renewal dates and additional relevant information as requested and then request proposal forms.

3 On receipt of a proposal form, check correctly completed and assess within 48 hours of receipt.

4 Contact the broker prospect within 48 hours of receiving the proposal form.

5 Negotiate with insurers to gain the best possible terms and conditions for the broker prospect and ensure that the cover offered by the insurers and presented to the broker prospect meets their minimum regulatory standards and requirements in respect of wording, excess, limit of indemnity and wherever possible exceed these standards. All reasonable efforts to ensure terms are received from Insurers (at least 10 days prior to the expiry of the policy) and presented to broker prospects at least 3 working days prior to the expiration of the current policy to allow an informed decision to be made about their Insurance.

6 To make all reasonable efforts to ensure that terms are received from insurers at least 10 days prior to the expiry of the policy.

New Business - Wholesale enquiries

1 To receive enquiries and instructions from Wholesale Brokers/ Agents

2 To take care to explain the different types of cover available and the extensions, endorsements and any subjectivities which may apply to the policy before incepting cover.

3 To provide the wholesale broker with a written quotation and No Claims Declaration, if applicable, using standard company templates. Ensure the quotation is accurate and reflects the insurer’s terms and client’s requirements, including subjectivities, and clearly specifies separately any additional fees charged.

4 All orders must be confirmed in writing and No Claims Declaration, if applicable, signed.

5 All orders must be confirmed within 3 hours of receipt to insurer’s email on the standard company documentation and receipt by insurer’s checked either by telephone or email.

6 To ensure all subjectivities are satisfied within 3 days of the inception of cover and wherever possible prior to the inception of cover.

7 To receive enquiries and instructions from Wholesale Brokers Agents

8 To deal with all client and wholesale brokers/Agents enquiries and correspondence promptly and to confirm in writing any changes to policies and any advice given.

9 To be able to create quotations, emails/quotes to send to Wholesale Agents/Brokers

Renewals

1 To receive enquiries and instructions from Wholesale Brokers/ Agents

2 To have the ability to renew existing policies

3 Be able to invite renewals and gather information from appropriate sources

4 To understand the nature of clients’ businesses, minimum regulatory standard

requirements in respect of wordings, excess, limit of indemnity and wherever

possible exceed them.

5 Research insurance companies’ quotations and negotiate with underwriters to provide sufficient information for clients in order that they may make an informed decision. Also ensure regular contact and necessary paperwork.

6 To arrange insurance cover for regular and more complex cases that may involve preparing technical and detailed reports for insurance underwriters and/or negotiating with Insurers.

7 Be able to produce company approved documentation for clients, Insurers and Underwriters at all stages of negotiations.

8 To advise and discuss with client’s only matters in which you are knowledgeable and to pass enquiries outside your sphere of expertise promptly to the relevant person in the company. (E.g., claims and warranties)

9 To maintain and improve relationships with clients, Insurers and Wholesale Agents with a view to expanding the book of business

10 Be able to complete administrative tasks and data entry on the company’s systems.

11 Be able to accept and complete Mid Term Adjustments and queries

Administration of role

1 To maintain files in accordance with procedures.

2 To update relevant spreadsheets after each task for each client.

3 To manage an effective diary system to ensure all cases are handled to the company’s high standards.

4 To keep detailed telephone and meeting notes of all conversations with any contact and to file these.

5 To meet reasonable sales targets and to provide up to date sales figures, activities figures and additional information as requested by the Department Manager and the Directors.

6 To act promptly to resolve any issues or matters highlighted by any other member of the company or outside agency.

7 To adopt the "in event of absence" policy when required.

8 To have the ability to manage and maintain TOBA’s and Agency applications

9 To have the ability to check Insurer Policies against Risk placed

10 To have the ability to understand and complete the company control document in full

11 To understand the day-to-day administration of the dept. i.e. absences, personnel matters, training records etc.

12 To have the ability to ensure dept. management records are updated, complete and relevant.

13 To have the ability to prepare, check and sign off quotes

14 To have the ability to review files

15 To have the ability to review policy wordings