Broker Support- Re-Insurance

TN United Kingdom; Ipswich; On-site; GBP 40,000 - 70,000; Full time

Job summary

Join a leading team in the reinsurance industry, specializing in Treaty re-insurance and Industry Loss Warranty markets. This role offers a unique opportunity to support clients by managing renewals, preparing documentation, and collaborating with account executives. With a strong market presence, this position allows you to leverage your expertise in insurance and reinsurance, contributing to a dynamic and inclusive environment. The company offers a competitive salary and an extensive benefits package, making it an ideal place for professionals looking to make an impact in the reinsurance sector.

Benefits

10% pension contribution

Private Medical Insurance

25 days annual leave

Life Assurance

Income Protection

Critical Illness Cover

Enhanced Maternity Leave

Enhanced Paternity Leave

Adoption Leave

Shared Parental Leave

Qualifications

• Minimum of 3 years' experience in a broker support role.
• Understanding of the Lloyd's and London insurance markets is essential.

Responsibilities

• Manage renewals and facilitate terms and orders for clients.
• Prepare accurate client documentation in line with market standards.
• Coordinate with teams to gather information for market documentation.

Skills

Broker Support

Account Handling

Lloyd's Market Knowledge

Treaty Re-insurance

Market Reform Contracts

Education

Relevant Insurance Qualification

Job description

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The Reinsurance team in group operations is re-introducing the processing of Treaty re-insurance and is seeking an experienced Broker Support professional to assist with this initiative.

The team is recognized as a leader in the reinsurance industry, particularly in the fast-growing Industry Loss Warranty (ILW) and Insurance Linked Securities (ILS) markets, working with some of the largest global players. They are re-establishing their Treaty re-insurance processes and need individuals with relevant experience to support this effort.

The Opportunity

This is an excellent opportunity to join a specialized team as broker support. The team holds a significant market share in ILW, accounting for approximately 10%, and is re-introducing Treaty re-insurance processing, including understanding treaty time limits and excess of loss.

Responsibilities

• Understand clients’ business and risk management needs, supporting delivery through ongoing service.
• Manage impending renewals, gather renewal information timely, and facilitate terms and firm orders.
• Coordinate with Account Executives and client-facing teams to gather necessary information for market documentation, ensuring alignment with client and market requirements.
• Develop and produce bespoke wordings and other related products as needed.
• Incorporate agreed wording changes into contracts.
• Assist in creating presentations for new and existing clients.
• Prepare accurate and timely client documentation, including Market Reform Contracts, Evidence of Cover, Policies, slips, and wording clauses, in line with client and market standards.

Qualifications

Minimum of 3 years' experience in a similar role.

Knowledge

• Understanding of Lloyd's and London insurance and reinsurance markets, including reinsurers.
• Knowledge of account handling and broking processes.
• Familiarity with Treaty Re-insurance (preferred).

Experience

• Technical insurance experience, such as account handling, broking, or underwriting.
• Experience in producing Market Reform Contracts (MRCs) and broking activities.
• Knowledge of Treaty Insurance (essential).

Benefits

Alongside a competitive salary, we offer a comprehensive benefits package, including:

• 10% pension contribution from Miller, with additional matching up to 5%.
• Private Medical Insurance.
• Minimum of 25 days annual leave, with options to purchase additional days.
• Life Assurance.
• Income Protection.
• Critical Illness Cover.
• Enhanced Maternity, Paternity, Adoption, and Shared Parental Leave.

Miller is committed to equal opportunities and fostering an inclusive working environment for all applicants.