Broker (UAE Based)

Chedid Re; Dubai; On-site; AED 180,000 - 300,000; Full time

Job summary

Chedid Re, a company of Chedid Capital, is looking for a Broker within its PI & Contingency department. The role involves performing brokerage activities including reviewing and analyzing submissions, negotiating with insurers and reinsurers, managing renewals, and supporting placement activities.

Joining our 1700 dynamic team member, spread among 64 subsidiaries worldwide, offers you endless growing opportunities.

Qualifications

• Bachelor's degree in insurance, business administration, finance, or related field.
• 0–2 years of experience in insurance, reinsurance, or a similar field.
• Basic understanding of insurance and reinsurance principles.
• Good analytical, communication, and negotiation skills.
• Ability to manage multiple tasks and meet deadlines.
• Strong attention to detail and organizational skills.
• Proficiency in Microsoft Office applications and relevant business systems.

Responsibilities

• Review submissions to identify discrepancies and missing information for small accounts.
• Coordinate with insurers to gather information and analyze requirements for small accounts.
• Prepare proposal components to cedants, including pricing, terms, and conditions, for small accounts.
• Forward quotations and support to cedants in accordance with agreed instructions.
• Follow up with cedants and markets to maximize the likelihood of securing firm orders.
• Confirm cover bound to cedants and issue binding slips.
• Attend to client requirements relating to endorsements and mid-term changes.

Skills

Analytical skills

Communication skills

Negotiation skills

Multitasking

Organizational skills

Microsoft Office

Education

Bachelor's degree in Insurance / Finance

Tools

Microsoft Office

Job description

A financial holding company, Chedid Capital is a leading investment group in the insurance and reinsurance fields. The Group operates across Europe, Middle East, Africa and South Asia. The Company plays a role in the forefront of the industry, being part of one of the top 20 Reinsurance Brokers in the world.

Chedid Re, a company of Chedid Capital, is looking for a Broker within its PI & Contingency department. The role involves performing brokerage activities including reviewing and analyzing submissions, negotiating with insurers and reinsurers, managing renewals, and supporting placement activities.

Joining our 1700 dynamic team member, spread among 64 subsidiaries worldwide, offers you endless growing opportunities.

Responsibilities

Operational & Administrative Support

• Implement related policies and procedures.
• Implement activities in specific areas under close supervision.
• Maintain accurate, complete, and up-to-date records within internal systems.
• Maintain organized documentation to ensure accurate record keeping and efficient retrieval.

Placement & Market Support

• Perform data entry of new offer details, contracts, or finalized accounts for reporting, reference, and tracking purposes.
• Develop and maintain a list of reference accounts by type of risk with standard conditions and clauses for benchmarking purposes.
• Re-canvass markets on renewals for broader and better support and terms.
• Identify potential reinsurance markets for risks on hand in order to satisfy insurers' requirements.
• Communicate with targeted reinsurers for obtaining binding agreements.
• Bind reinsurers upon firm order, ensuring maximum share and obtaining signed slips.
• Negotiate with reinsurers to obtain competitive terms, conditions, and commission levels.
• Prepare renewal notices and information requests to be delivered to markets in a timely manner.
• Obtain market intelligence on specific submissions to support decision-making.
• Prepare underwriting information required by reinsurers.
• Follow up and obtain quotations from markets and block market capacity.
• Prepare Chedid Re reinsurance slips in accordance with internal procedures.
• Review signed slips to ensure conformity with final accepted offers.

Submission & Client Coordination

• Coordinate with insurers to gather information and analyze requirements for small accounts.
• Screen received submissions and request missing information and supporting documents.
• Review and analyze submissions to identify discrepancies and missing information.
• Prepare proposal components to cedants, including pricing, terms, and conditions, for small accounts.
• Forward quotations and support to cedants in accordance with agreed instructions.
• Follow up with cedants and markets to maximize the likelihood of securing firm orders.
• Confirm cover bound to cedants and issue binding slips.
• Attend to client requirements relating to endorsements and mid-term changes.

Compliance & Follow-up

• Coordinate internally to finalize files and resolve operational issues.
• Follow up on premium payment terms to ensure extensions are granted and avoid cancellations.
• Perform compliance checks and report identified issues for resolution.
• Promote Chedid Re services for business development purposes.

Professional Development

• Keep abreast of the latest insurance and reinsurance market developments.
• Enroll in and pursue relevant CII qualifications and professional development initiatives.
• Contribute to the continuous improvement of placement processes, service quality, and operational efficiency.

Requirements

• Bachelor's degree in insurance, Business administration, finance, or related field
• 0-2 years of experience in insurance, reinsurance, or a similar field.
• Basic understanding of insurance and reinsurance principles.
• Good analytical, communication, and negotiation skills.
• Ability to manage multiple tasks and work within deadlines.
• Strong attention to detail and organizational skills.
• Proficiency in Microsoft Office applications and relevant business systems.