Binding Authority Technician

Nashrock Insurance Recruitment; City Of London; On-site; GBP 42,000 - 54,000; Full time

Job summary

Nashrock Insurance Recruitment is seeking a Binding Authority Technician for a Lloyd's Broker. You will provide technical support to Brokers and Account Executives, ensuring efficient administration of Binding Authority business across a portfolio of international non-marine risks.

This role offers exposure to delegated authority arrangements and London Market processes, with a focus on accuracy, timeliness and strong client service.

Qualifications

• Experience in Technical Binding Authority roles at a Lloyd's Broker.
• Familiarity with Lloyd's market procedures and delegated authority processes.
• Experience with premium and/or claims processing.
• Attention to detail and ability to manage deadlines.

Responsibilities

• Provide technical and administrative support to Brokers in the placement and ongoing management of Binding Authority business.
• Premium processing, claims processing, contract administration, and market filing activities
• Ensure all contract documentation is accurate, complete, and compliant with Lloyd’s and company market requirements.
• Dealing with Xchanging/Velonetic enquiries in a timely and professional manner
• Liaise with Underwriters, Coverholders, Brokers, and clients to obtain and verify information required for contract processing.
• Manage the submission and maintenance of Binding Authority records via Lloyd’s delegated authority systems and other market platforms.
• Monitor contract inception, renewal, and expiry dates, ensuring all documentation is processed within agreed service standards.
• Assist with the collection, review, and management of bordereaux submissions, escalating outstanding items where necessary.
• Maintain accurate records and documentation within internal systems and electronic filing structures.
• Assist with internal audits, compliance reviews, and regulatory reporting requirements.
• Build and maintain strong working relationships with Lloyd’s syndicates, company market underwriters, Coverholders, and other market stakeholders.
• Provide technical support to the wider Delegated Authority and Broking teams as required.

Skills

Binding Authority

Delegated Authority

London Market

Premium processing

Claims processing

Excel

Tools

Xchanging/Velonetic

Atlas

DCOM

Job description

An excellent opportunity has arisen to join a well-established and highly regarded Lloyd's Broker as a Binding Authority Technician. Working within a specialist Delegated Authority team, the successful candidate will provide technical support to Brokers and Account Executives, ensuring the efficient administration and processing of Binding Authority business across a diverse portfolio of International Non-Marine Risks.

This role offers exposure to a broad range of delegated authority arrangements and would suit an individual with current London Market experience who is looking to further develop their technical expertise within a dynamic and client-focused broking environment.

Key Responsibilities

• Provide technical and administrative support to Brokers in the placement and ongoing management of Binding Authority business.
• Premium processing, claims processing, contract administration, and market filing activities
• Ensure all contract documentation is accurate, complete, and compliant with Lloyd’s and company market requirements.
• Dealing with Xchanging/Velonetic enquiries in a timely and professional manner
• Liaise with Underwriters, Coverholders, Brokers, and clients to obtain and verify information required for contract processing.
• Manage the submission and maintenance of Binding Authority records via Lloyd’s delegated authority systems and other market platforms.
• Monitor contract inception, renewal, and expiry dates, ensuring all documentation is processed within agreed service standards.
• Assist with the collection, review, and management of bordereaux submissions, escalating outstanding items where necessary.
• Maintain accurate records and documentation within internal systems and electronic filing structures.
• Assist with internal audits, compliance reviews, and regulatory reporting requirements.
• Build and maintain strong working relationships with Lloyd’s syndicates, company market underwriters, Coverholders, and other market stakeholders.
• Provide technical support to the wider Delegated Authority and Broking teams as required.

Role Requirements

• Experience in working in a Technical Binding Authority / Delegated Authority position for a Lloyd's Broker.
• Working knowledge of Lloyd’s market procedures and delegated authority processes.
• Experienced in premium and/or claims processing
• Knowledge of DCOM, Atlas or Xchanging/Velonetic advantageous
• Strong attention to detail with a commitment to accuracy and quality.
• Excellent organisational and time-management skills.
• Ability to manage multiple tasks and deadlines within a fast-paced environment.
• Strong communication and relationship-building skills.
• Proficiency in Microsoft Office applications, particularly Excel and Word.