Binder Broker

The Recruiter Ltd; London; On-site; GBP 100,000 - 125,000; Full time

Job description

Binder Broker

Salary: Not specified

Location: London, Essex

Job Type: Permanent

Ref: SJP230772

As an established and independent Lloyd's broker, our client pride themselves on their expertise, integrity, and bespoke service. With a strong foothold in the insurance market, their focus is on delivering innovative solutions and maintaining enduring relationships with their clients and partners. The team is a blend of seasoned professionals and dynamic innovators, committed to upholding the highest standards of the industry. 

Role Overview:

We are in search of an Experienced Binding Authority Broker who possesses an in-depth understanding of the insurance market, particularly within the binding authority space. The ideal candidate will have an established network within the UK broker community and a track record of fostering growth and managing complex insurance portfolios. 

Key Responsibilities:

Business Development and Client Management:

Utilize existing broker networks to expand business and develop new opportunities.

Cultivate and manage client relationships, ensuring exceptional service and satisfaction.

Stay abreast of market trends to identify and capitalize on new business prospects.

Binding Authority Agreements Management: 

Skillfully negotiate and manage binding authority agreements.

Maintain compliance with Lloyd's of London standards and regulatory frameworks.

Assess the performance and profitability of binding authority contracts. 

Risk Assessment and Portfolio Oversight:

Execute detailed risk evaluations for insurance proposals.

Oversee a diverse portfolio of binding authority contracts.

Offer expert advice on risk management and optimal coverage strategies.

Team Collaboration and Leadership: 

Collaborate with underwriters, actuaries, and other insurance professionals.

Influence strategic planning and direction of the brokerage operations.

Guide and support the professional development of junior brokers and team members.

Qualifications: 

Extensive experience as a Binding Authority Broker, with a focus on the Lloyd's market.

Robust network within the UK insurance broker community.

Deep understanding of insurance products, market dynamics, and regulatory landscape.

Exceptional negotiation, communication, and relationship management skills. 

• Advanced knowledge of Microsoft products (Word, Excel and Outlook) or similar software applications.
• Ability to manage time, prioritise and ensure that deadlines are met without compromising quality.
•  Ability to understand and execute oral and written instructions.
•  Ability to communicate effectively and professionally both verbally and in writing with clients, insurers and other associates. 

Our client is committed to continuous professional education and will offer study support when required.