Construction Placement Broker

Za004 Marsh (Pty ) Ltd; Johannesburg; Hybrid; ZAR 400 000 - 500 000; Full time

Job summary

A leading insurance brokerage firm is seeking a Construction Placement Broker for its Specialties division in Johannesburg. This hybrid role requires deep knowledge of market practices and risk evaluation to match clients with appropriate insurance coverage. Responsibilities include executing placement strategies, managing client relationships, and driving business development. The ideal candidate will have strong communication skills and experience in the construction industry.

Qualifications

• Strong understanding of market practices and pricing.
• Ability to develop placement solutions based on client needs.
• Experience in guiding and coordinating with clients and underwriters.

Responsibilities

• Assist in executing construction placement strategy.
• Develop go-to-market strategies for client retention.
• Create innovative approaches to meet client needs.

Skills

Market practices knowledge

Risk evaluation

Client relationship management

Job description

We are seeking a talented individual to join our Specialties division in the Construction Practice at Marsh.

This role will be based in Sandton, hybrid and has a requirement of working at least three days a week in the office.

Marsh Specialty – Construction Practice is a market leading specialty practice servicing a wide range of construction and infrastructure related clients, both in South Africa and across the Continent.

As the Construction Placement Broker you will use information about market practices, pricing, underwriting policies and risk appetite to match clients' insurance needs with appropriate carrier coverage.

Coordinate with client executives and clients directly to guide, evaluate and select the best insurance carrier coverage set up and arrange quotes.

Recognized to have a working knowledge of coverage and structuring strategies and should work closely with the Placement Leader to ensure industry best practice.

Responsibilities

• Assist in the execution of the construction placement strategy by utilizing risk expertise and knowledge of industry and carriers to develop placement solutions, including facilities, that meet existing and new client needs.
• Develop methods for the go-to-market strategy and provide input on pricing of services supporting client retention and new business production.
• Guide strong working relations with carriers and underwriters to create innovative approaches to client needs and provide cohesive client service.
• Audit and finalize commission structure with underwriter in accordance with client direction and agreement.
• Achieve a thorough understanding of changing insurance and risk market conditions and inform client teams, clients and carriers of major developments affecting various types of coverage.
• Apply knowledge to the firm's product lines by active participation in internal networks.
• Help strategize new products and innovative solutions that address clients' needs.
• Support placement / technical activities on accounts including conversations / presentations with clients.
• Ensure procedural compliance, review data and update annual renewal exhibits, and maintain accurate placement system entries to ensure contract execution as required.
• Consult management on complex client issues or trends through clear and concise communication.
• Manage numerous projects efficiently, amending and extending coverage as appropriate.
• Mentor and coach junior team members supporting their progression.
• Coordinate placements and establish relationships with various placement hubs (SA / Dubai / London) to deliver best solutions to clients and grow wholesale portfolio.
• Improve placement strategies and yield to assist in achieving budgets and firm's growth initiatives across the region.
• Always ensure compliance with internal procedures and external regulations.

Broking and Placement Expectations

• Collect exposure information and underlying coverage requirements from clients.
• Review and process underwriting information, prepare and submit slip to insurers / reinsurers, and respond to specific queries of insurers / reinsurers.
• Compile / compare the terms received from underwriters.
• Present terms to the client.
• Effect the placement with the short‑listed insurer / reinsurer and obtain follow‑support where required.
• Execute the placement strategy in accordance with client instructions.
• Complete all appropriate workflow documentation and approvals to comply with Marsh's strict operational standards.
• Arrange invoicing, collection of (re)insurance premium and remittance of funds where appropriate.

Business Development

• Maintain an active sales funnel and help drive construction revenue growth throughout the Africa Region.
• Identify prospective clients.
• Prepare presentations.
• Preparation of reports and RFP responses to tenders (with input from specialists within the global network where required) working to tight timeframes.