Broker Relationship Manager

Canopius; City Of London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading insurance firm seeks a qualified professional to assist in executing their distribution strategy. The role involves working closely with underwriting teams to drive growth, maintain broker relationships, and monitor performance metrics, ensuring alignment with the company's objectives and regulatory standards. Strong sales experience and knowledge of the insurance market are essential. Competitive salary and opportunities for professional development available.

Qualifications

• Successful track record in sales and distribution activities.
• Ability to build relationships with stakeholders.
• Competence in data review and analytics.
• Strong verbal and written communication skills.
• Familiarity with the Lloyd’s market and Insurance regulations.
• In-depth knowledge of Insurance products.

Responsibilities

• Assist in executing distribution strategy with underwriting teams.
• Drive growth objectives and increase company profile.
• Develop and maintain broker profiles and market strategies.
• Create relationship maps to facilitate pipeline management.
• Monitor broker performance and report on key benchmarks.
• Provide updates on market trends and intelligence.
• Engage in renewal strategies with underwriting teams.
• Promote client-centric culture in decision-making.
• Represent the company at professional events.

Skills

Sales and distribution metrics

Team player

Critical thinking

Communication skills

MS Office and Power BI

Knowledge of Lloyd's market

Insurance regulation knowledge

Insurance product knowledge

Negotiation skills

Degree and ACII qualification

Education

Relevant degree or ACII qualification

Tools

Power BI

MS Office

Job description

Overview

To assist and execute a distribution strategy for Canopius UK working with the Chief Distribution Officer, Regional Head of Distribution in other divisions where applicable and the underwriting teams, to deliver against divisional business plans, strategic broker agreements and long-term growth plans/objectives.

Key Responsibilities

• Working with Underwriting teams, Marketing, Data and Analytics to create plans with key brokers, MGAs, coverholders and strategic partners that leverage the organisation’s products, underwriting appetite/proposition and capabilities.
• Help drive growth objectives, sales campaigns and initiatives, increasing Canopius profile and awareness with our partners and where strategic agreements in place.
• Develop and maintain broker, MGA and coverholder profiles – document information/intel regarding their portfolios and go to market strategy.
• Create relationship maps connecting underwriters to the right contacts at key broker offices. facilitate pipeline access, management and escalate outcomes regularly using dashboards internally and externally.
• Monthly reporting against key benchmarks using data and analytics and quarterly forward view so can manage outcomes.
• Monitor broker performance based on agreed objectives using data and analytics. Conduct monthly and quarterly meetings with key brokers and underwriting teams to review progress and escalate where necessary.
• Ongoing measurement of KPIs and monitoring trends in key agreements with brokers (ie Submission Volume, Quote Ratio, Hit/bind Ratio, GWP, Retention, Signings and Underwriting Productivity).
• Provide updates and intel on market trends, feedback on Canopius strategy, update on competition position and actions in the market.
• Provide market intelligence on new business opportunities and assist underwriters with collecting / secure information needed to make underwriting decisions.
• In conjunction with FP&A develop Standard Reporting Templates – Identify consistent process to generate data to ensure “single source of the truth”. Drive consistency in how we manage the business
  • Producer Performance Dashboard
  • Underwriting Production Dashboard
  • Distribution Performance Dashboard
• Engaging with underwriting a review of key renewals 120 days prior to effective date. Discuss and agree on renewal strategy with underwriter(s) for accounts in jeopardy. Escalate where required.
• Facilitate recurring meetings (and report) by product with leadership to identify potential gaps to business/product objectives and develop mitigation plans
  • Gaps / Shortfall by Product
  • By Broker
  • By Underwriter
• Promoting a culture where clients’ needs are placed at the heart of underwriting decision-making and business is conducted in a manner that meets Canopius’ internal standards and regulatory guidelines.
• Representing Canopius externally in fully professional manner that enhances market reputation and profile, including conferences and events.

Skills

• Successful and profitable track record relating to sales and distribution activities and metrics.
• A proven team player with ability to build relationships with stakeholders externally and internally.
• Ability to review data and analytics and make sound suggestions or decisions with critical thinking.
• Good communicator and influencer, both verbally and written.
• Excellent computer skills including MS office and Power BI.
• Knowledge of the Lloyd’s market, (Re) Insurance and international markets.
• Good understanding of Insurance regulation.
• Good Insurance product knowledge and strong negotiation skills.
• Preferably degree and ACII or similar qualification.