Commercial Insurance Broker

TN United Kingdom; City of Edinburgh; On-site; GBP 30,000 - 50,000; Full time

Job summary

An established industry player is seeking a dedicated insurance professional to join their team. This role involves providing comprehensive insurance quotations, managing client relationships, and ensuring compliance with regulatory standards. The ideal candidate will have a solid understanding of the UK General Insurance market and possess strong risk management skills. With a focus on delivering exceptional service to clients, this position offers a dynamic work environment and opportunities for professional growth within the insurance sector. If you are passionate about insurance and eager to make a difference, this could be the perfect opportunity for you.

Benefits

Competitive Salary

Great Benefits

Positive Working Environment

Qualifications

• Thorough knowledge of FCA Rules and General Insurance principles.
• Understanding of underwriting and rating factors for Commercial insurance.

Responsibilities

• Provide business quotations for Charity and Commercial Insurance.
• Handle policy alterations and renewals for existing clients.
• Manage documentation and follow up on outstanding items.

Skills

Knowledge of FCA Rules

General Insurance Principles

Commercial Insurance Market Knowledge

Risk Management

Credit Management Procedures

Tools

IT System Operations

Job description

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Responsibilities

1. Provide new business quotations for Charity Insurance and all classes of Commercial Insurance on request, offering relevant advice, information, and guidance. Refer requests beyond your expertise or authority to the Head of Department or other authorized person.
2. Take instructions from new clients to ensure cover starts at the correct time, complete all relevant paperwork, collect premiums, and create records and diary entries. For policies including Employers Liability, issue Certificates of Insurance and Policy Schedules, and dispatch to clients with the correct policy documents.
3. Handle instructions from existing clients regarding policy alterations, notify insurers, and update records.
4. Offer policy renewals to existing clients, either with the current or a new insurer, ensuring paperwork completion, premium collection, and record updates.
5. Thoroughly check all client documentation before dispatch, raising queries and making amendments as needed.
6. Manage your diary system to follow up on outstanding documentation, premium payments, and continuation cover notes.
7. File digital client files daily.
8. Provide risk advice, risk management, and risk prevention information on Non-Motor risks in collaboration with Underwriters.
9. Assist with the Accounts function, particularly credit control with relevant clients.
10. Perform any other duties as required by your Manager in line with your role.

The Successful Applicant

The role requires thorough knowledge of:

• The FCA Rules
• Principles, practices, and legalities of all major classes of General Insurance, including insurable interest, utmost good faith, indemnity, contribution, average, and subrogation.
• The UK General Insurance market concerning Commercial & Charity insurances.
• Underwriting and rating factors applicable to major classes of Commercial insurance.
• The range of Commercial Lines & Charity products offered by the company and their handling procedures.
• The company's Complaints Procedure.
• The operation of the company's IT system, including procedures, authority limits, audit trails, and processes related to EDI transactions.

The role also requires knowledge of:

• Rehabilitation of Offenders, Disability Discrimination, and Race Relations Acts.
• Fair Treatment of Vulnerable Customers.
• The General Data Protection Regulation (GDPR).
• Money laundering legislation requirements.
• The Law of Agency.
• Credit management procedures.

What's on Offer

Competitive salary, great benefits, and a positive working environment.