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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, teamwork, 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 or email lauren@afroasian-insurance.com.
The predicted salary is between 28800 - 48000 £ 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
Network with professionals in the reinsurance industry, especially those who have experience in Africa-focused markets. Attend industry events or webinars to connect with potential colleagues and mentors who can provide insights and possibly refer you to opportunities.
✨Tip Number 2
Familiarise yourself with the latest trends and challenges in the reinsurance sector, particularly in Africa. This knowledge will not only help you during interviews but also demonstrate your genuine interest in the role and the market.
✨Tip Number 3
Prepare to discuss your experience in handling broking-related queries and managing client relationships. Think of specific examples where you've successfully negotiated terms or resolved issues, as these will showcase your skills effectively.
✨Tip Number 4
Research the company thoroughly, including their values, recent projects, and market position. Tailoring your conversation to align with their goals and demonstrating how you can contribute to their success will make a strong impression.
We think you need these skills to ace Reinsurance Broker
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in the insurance industry, particularly any roles related to reinsurance. Emphasise your skills in relationship management, negotiation, and market analysis, as these are key for the role.
Craft a Compelling Cover Letter: Your cover letter should reflect your enthusiasm for the position and the company. Mention specific experiences that align with the job description, such as handling broking queries or managing client relationships, to demonstrate your suitability.
Highlight Relevant Qualifications: If you have CII qualifications or equivalent, make sure to mention them prominently. Even if you don't have these qualifications, highlight any relevant training or certifications that showcase your commitment to the insurance field.
Showcase Your Understanding of the Role: In both your CV and cover letter, demonstrate your understanding of the responsibilities outlined in the job description. Discuss how your previous experiences have prepared you to meet the key measures of success, such as achieving renewal rates and managing client documentation.
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 and concepts, as well as the specific types of reinsurance relevant to the role, such as facultative and treaty reinsurance.
✨Demonstrate Relationship Management Skills
Since building and managing relationships is crucial for this role, prepare examples from your past experiences where you've successfully developed client or market relationships. Highlight your communication skills and ability to negotiate effectively.
✨Showcase Your Analytical Abilities
Be ready to discuss how you analyse market conditions and risk appetites. Prepare to share specific instances where your analytical skills led to successful placements or improved outcomes for clients.
✨Prepare Questions About the Company
Research the company and its focus on Africa. Prepare insightful questions that show your interest in their operations and how you can contribute to their goals, especially regarding new business development and market opportunities.
