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For Companies At a Glance
- Tasks: Join us as a Reinsurance Broker, handling business placements and building key relationships.
- Company: We're a dynamic Africa-focused reinsurance broker offering global travel and diverse experiences.
- Benefits: Enjoy hands-on experience, corporate perks, and opportunities for international travel.
- Why this job: This role offers growth, collaboration, and the chance to make an impact in the insurance industry.
- Qualifications: Minimum 1 year in the insurance industry; CII qualifications preferred but not essential.
- Other info: Apply with your CV and cover letter to join our innovative team!
The predicted salary is between 36000 - 60000 £ per year.
Looking to join a dynamic Africa-focused reinsurance broker offering hands-on experience, diverse business exposure, and global travel opportunities?
Role Overview, key tasks but not limited to:
- To place new and renewal Reinsurance business for and on behalf of AAIS’s local offices, clients and producers.
- To ensure all broking related queries are handled promptly including but not limited to endorsements, NOC’s declarations/bordereaux and premium/claims queries, should the respective teams require.
- To successfully build and manage key relationships with all stakeholders including colleagues, clients, markets and surveyors if needed.
- To negotiate market terms on behalf of clients, analyse exposures and market appetites.
- To identify and develop knowledge of markets and their risk appetite with the purpose of placing more reinsurance business.
- To increase facultative business shares from all current clients.
- To assist your allocated office with product training and new business development.
- To ensure all broking related administrative tasks are handled promptly and accurately. This includes but is not limited to EOC’s Cover notes, Debit/Credit notes, Closings, Bordereaux, if applicable.
Position in the Organisation:
- The job holder reports directly to the Head of Facultative Reinsurance. If unavailable, then to a Director or a Senior Reinsurance Broker.
Key Measures of Success:
- Achieve +95% renewal rate on allocated renewals.
- Meet allocated new business target.
- Achieve 20% growth on renewal book of the allocated local office.
- Timely and accurate placement of risks in the market.
- Timely and accurate issuance of documents to the client.
- Compliance with FCA guidelines, SOPs and internal policies.
- Achieve Facultative team target.
Areas of Responsibility:
- Ensure that accurate records are kept up to date on renewals and new business on the centralised facultative sheets.
- Foster and maintain a collaborative and positive team atmosphere.
- Manage key market and client relationships.
- Identify and develop new market, product and new business opportunities.
- Ensure all renewal invites are sent out minimum 30 days before expiry.
- Ensure all client documentation is sent out a maximum of 2 weeks from binding.
- Ensure that the lead signed slip is sent to the client within 24 hours of receiving.
- Analyse markets to ensure optimum terms are acquired for risk placements on behalf of clients.
- Analyse, submit and/or decline risks, negotiate risk placement terms with reinsurers/underwriters, communicate quotes to clients and negotiate quotes on behalf of clients in a timely manner.
- Oversee the correct issuance of all documentation pertaining to your accounts.
- Ensure all workflow is managed in a timely manner.
- Ensure comprehensive service is maintained for all facultative clients throughout the year.
- Adhere to company internal policies and procedures together with mandatory training requirements.
- Ensure effective handover of accounts during leave.
We are looking for Candidates with the following:
- Minimum 1 year of experience in the Insurance Industry.
- Preferred but not required classes: PVT, Aviation, Casualty and Property.
- CII Qualifications or equivalent preferred but not essential.
- Right to Work in the UK.
Please apply with CV and Cover Letter, alternatively please send to lauren@afroasian-insurance.com.
Reinsurance Broker employer: Afro Asian Insurance Services Ltd
Contact Detail:
Afro Asian Insurance Services Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reinsurance Broker
✨Tip Number 1
Familiarise yourself with the reinsurance market, especially in Africa. Understanding regional trends and key players will help you engage in meaningful conversations during interviews and demonstrate your commitment to the role.
✨Tip Number 2
Network with professionals in the insurance and reinsurance sectors. Attend industry events or join relevant online forums to connect with potential colleagues and mentors who can provide insights and possibly refer you to opportunities.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed client relationships or negotiated terms in previous roles. This will showcase your practical experience and ability to handle the responsibilities outlined in the job description.
✨Tip Number 4
Stay updated on regulatory changes and compliance requirements in the insurance industry. Being knowledgeable about FCA guidelines and internal policies will set you apart as a candidate who is ready to hit the ground running.
We think you need these skills to ace Reinsurance Broker
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of a Reinsurance Broker. Tailor your application to highlight relevant experience and skills that align with the job description.
Craft a Compelling Cover Letter: Your cover letter should not only express your interest in the position but also demonstrate your understanding of the reinsurance industry. Mention specific experiences that showcase your ability to manage relationships and negotiate terms effectively.
Highlight Relevant Experience: In your CV, focus on any previous roles in the insurance industry, especially those related to reinsurance. Include quantifiable achievements, such as renewal rates or business growth, to illustrate your impact in past positions.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any spelling or grammatical errors. A polished application reflects your attention to detail, which is crucial in the reinsurance field.
How to prepare for a job interview at Afro Asian Insurance Services Ltd
✨Know Your Reinsurance Basics
Make sure you have a solid understanding of reinsurance principles and practices. Brush up on key terms, market trends, and the specific types of reinsurance relevant to the role. This will help you answer technical questions confidently.
✨Demonstrate Relationship Management Skills
Since building and managing relationships is crucial for this role, prepare examples from your past experiences where you've successfully managed client or stakeholder relationships. Highlight your communication skills and ability to negotiate effectively.
✨Showcase Your Analytical Abilities
Be ready to discuss how you analyse market appetites and exposures. Prepare to share specific instances where your analytical skills led to successful risk placements or improved business outcomes.
✨Prepare Questions for the Interviewers
Have insightful questions ready to ask about the company's approach to reinsurance, their client base, and growth opportunities. This shows your genuine interest in the role and helps you assess if the company is the right fit for you.
