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For Companies At a Glance
- Tasks: Manage binding authority agreements and ensure compliance with underwriting standards.
- Company: Superscript is a pioneering insurtech broker for small businesses and high-growth firms.
- Benefits: Enjoy 25 days holiday, hybrid working, private health insurance, and a fun office environment.
- Why this job: Join a dynamic team, enhance your skills, and make an impact in the insurance industry.
- Qualifications: 3+ years in binding authority or insurance underwriting; Cert CII preferred.
- Other info: Be part of a modern workplace with regular social events and a focus on wellbeing.
The predicted salary is between 36000 - 60000 £ per year.
Binding Authority Technician
If you\’re a detail-oriented Binding Authority Technician looking to further progress your career, we\’d like to hear from you!
About the role
Our Insurance Binding Authority Technician will support our Underwriting team, along with both our Specialty and SME broking teams by managing all tasks related to our binding authority agreements.
This role ensures compliance with delegated underwriting standards and supports efficient processing of policies, endorsements, and bordereaux reports.
The ideal candidate will have a strong understanding of Lloyd’s and company market procedures, exceptional attention to detail, and experience working in a binding authority environment.
What you\’ll get up to:
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Set up, maintain, and update binding authority agreements and related documentation.
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Liaise with coverholders, brokers, underwriters, and insurers to ensure timely and accurate processing of contracts and bordereaux.
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Monitor premium, claims, and risk bordereaux submissions, ensuring data integrity and accuracy.
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Assist in the review and renewal of binding authorities in accordance with internal and market standards (e.g., Lloyd’s, FCA).
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Ensure all binding authority agreements comply with FCA, Lloyd’s, and other regulatory requirements.
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Conduct regular due diligence and onboarding checks on coverholders and TPAs.
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Track regulatory changes and update internal policies and procedures accordingly.
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Assist in preparing for and responding to regulatory inspections and inquiries.
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Coordinate internal and external audits of binding authority arrangements.
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Maintain detailed records and audit trails of all binding authority documentation and changes.
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Implement corrective actions and recommendations resulting from audit findings.
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Ensure timely completion of coverholder audits, due diligence reviews, and file reviews.
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Support the implementation and oversight of binding authority governance frameworks.
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Maintain accurate logs of authority limits, endorsements, and contract amendments.
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Participate in risk reviews and assist with internal governance reporting (e.g., conduct risk assessments, exception reporting).
About you:
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A minimum of 3+ years experience in a delegated authority/binding authority or insurance underwriting support capacity.
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Working knowledge of bordereaux management and insurance regulatory requirements.
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Proficiency in insurance systems (e.g LIMOSS, Atlas, DCOM, ECF or equivalent).
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Strong organisational and time management skills.
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Excellent communication skills, both written and verbal.
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Familiarity with Lloyd’s and London Market practices.
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Cert CII qualification or working toward certification.
In return, we offer you:
- A competitive salary and the ability to grow your career
- 25 days holiday – so there’s plenty of time for work, rest and play
- Hybrid way of working for the perfect work / life balance
- Vitality private health and dental insurance
- Added benefits including competitive pension and salary sacrifice
- Access to financial wellbeing platform Mintago
- Full access to Spill, our mental health platform
- Cycle to work scheme
- Fun and modern office environment with regular team social events
- City of London location
- Department
- Product
- Locations
- London
- Remote status
- Hybrid
- Hybrid/on-site
- Hybrid
About Superscript
Insurance should be a smooth ride, not a hop, skip and a jump. That\’s where we come in.
We’re Superscript, an insurance broker for small businesses, sole-traders, landlords and high-growth tech firms. As the first UK-based insurtech to become a Lloyd’s of London broker, we offer advisory and broking services, alongside a fully self-serve online platform.
Our proprietary machine-learning technology and unique multi-carrier model streamlines service and delivery – regardless of risk complexity, geography or industry.
London
Binding Authority Technician
If you\’re a detail-oriented Binding Authority Technician looking to further progress your career, we\’d like to hear from you!
Already working at Superscript?
Let’s recruit together and find your next colleague.
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Binding Authority Technician employer: Rotterdam Innovation City
Contact Detail:
Rotterdam Innovation City Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Binding Authority Technician
✨Tip Number 1
Familiarise yourself with Lloyd's and company market procedures. Understanding these will not only help you in interviews but also demonstrate your commitment to the role and the industry.
✨Tip Number 2
Network with professionals in the insurance sector, especially those who work in binding authority roles. Engaging with them can provide insights into the job and may even lead to referrals.
✨Tip Number 3
Stay updated on regulatory changes affecting the insurance industry. This knowledge will be crucial during discussions and can set you apart as a proactive candidate.
✨Tip Number 4
Prepare to discuss specific examples from your past experience that highlight your attention to detail and organisational skills. Real-life scenarios can effectively showcase your suitability for the role.
We think you need these skills to ace Binding Authority Technician
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of a Binding Authority Technician. Familiarise yourself with the key tasks mentioned in the job description, such as managing binding authority agreements and ensuring compliance with regulatory requirements.
Tailor Your CV: Highlight your relevant experience in delegated authority or insurance underwriting support. Emphasise your familiarity with Lloyd's and London Market practices, as well as any specific systems you've used, like LIMOSS or Atlas. Make sure to showcase your attention to detail and organisational skills.
Craft a Compelling Cover Letter: Write a cover letter that connects your experience to the specific requirements of the role. Mention your understanding of binding authority agreements and your ability to liaise effectively with various stakeholders. Use examples from your past work to demonstrate your skills and achievements.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any spelling or grammatical errors. Ensure that all information is accurate and clearly presented. A polished application reflects your professionalism and attention to detail, which are crucial for this role.
How to prepare for a job interview at Rotterdam Innovation City
✨Know Your Regulatory Stuff
Make sure you brush up on FCA and Lloyd's regulations. Being able to discuss compliance and regulatory requirements confidently will show that you understand the importance of these standards in the binding authority environment.
✨Demonstrate Attention to Detail
As a Binding Authority Technician, attention to detail is crucial. Prepare examples from your past experience where your meticulous nature helped avoid errors or improved processes. This will highlight your suitability for the role.
✨Familiarise Yourself with Bordereaux Management
Since bordereaux management is a key part of the job, be ready to discuss your experience with it. Bring specific examples of how you've managed submissions and ensured data integrity in previous roles.
✨Showcase Your Communication Skills
You'll be liaising with various stakeholders, so it's important to demonstrate your communication skills. Prepare to discuss how you've effectively communicated with coverholders, brokers, and underwriters in the past.
