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- Tasks: Coordinate technical support for binding authorities and open market accounts in insurance.
- Company: Independent, international insurance business and accredited Lloyds Broker.
- Benefits: 4-day work week with full pay, annual bonus, private health cover, and pension.
- Why this job: Join a dynamic team and make a real impact in the insurance industry.
- Qualifications: Experience in Binding Authority and understanding of Lloyds processes required.
- Other info: Flexible working options available, with excellent career growth opportunities.
The predicted salary is between 36000 - 60000 £ per year.
Are you ready to work a 4-day week on a full 5-day salary? An opportunity for an experienced Binding Authority Technician to join an independent, international insurance business that is an accredited Lloyds Broker and Coverholder. The role holder will co-ordinate a diverse range of technical support functions to ensure the effective placement and servicing of binding authorities and some open market accounts on behalf of intermediaries based in Europe.
This is a key role and you will work closely with the technical support team, placing brokers, account executives, clients, bureaux and markets. In this role you will be an integral part of all aspects of coverholder approval, on-boarding, performance, monitoring and reporting.
Some examples of duties and responsibilities:
- Prepare and check documentation and support the placing brokers within Lloyd's and Company market presentations.
- Create Cover and Debit Notes.
- Help create Broking presentations for new and renewal business (includes liaising with clients in order to obtain the relevant information if needed).
- Create required market documentation.
- Prepare triangulations on a monthly basis.
- Process risks and premium bordereau.
- Process claims bordereau and claims collection in a timely fashion.
- Review and provide claims history, loss information, major claims analysis and figures to other divisions, underwriters and clients.
- Deal with accounts procedures (credit control, cash allocations, accounts reconciliation, analysis of results).
- Accounts to Brokerage Accounts, controlling IBA Accounts reconciliations and claims settlements process.
- Liaise with Xchanging / Velonetic regarding payment of premium to market and bureau and assist them with any queries, in addition deal with premium signing queries from the bureau or underwriters.
- Understand the processing of documentation including use of DCOM, ATLAS, CRYSTAL, Da-Sats, PPL, RiskServe, ECF/CLASS System.
What you need to show:
- Strong technical support for Binding Authority experience.
- Understand Lloyds processes and platforms and monthly bordereaux management.
- Solid understanding of industry regulations and compliance requirements (CASS rules and legal principles governing insurance).
- Knowledge of professional indemnity, personal accident, D&O and general liability classes would be preferred but not essential.
- Proficiency in insurance funds processing and policy issuance.
- Proficiency in using insurance management software and other relevant technology.
What you need to know:
- Work a 4 day week in the City office and get paid for full 5 days.
- Or, if you prefer, work 2 days in City office with 3 days working from home.
- Salary is open and will be based on your diversity and level of relevant skills and expertise.
- Annual performance bonus.
- Private Health Cover / Pension.
Senior Binding Authority Technician in London employer: MW Appointments
Contact Detail:
MW Appointments Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Binding Authority Technician in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the insurance industry, especially those who work with Lloyd's. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Prepare for interviews by brushing up on your technical knowledge. Make sure you can confidently discuss binding authorities and the relevant software. We want you to shine when they ask about your experience!
✨Tip Number 3
Don’t forget to showcase your soft skills! Being a team player and having great communication skills are just as important as your technical know-how. Share examples of how you've collaborated with brokers or clients in the past.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who take the initiative to connect directly with us.
We think you need these skills to ace Senior Binding Authority Technician in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Senior Binding Authority Technician role. Highlight your relevant experience in technical support and your understanding of Lloyd's processes. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for our team. Share specific examples of your past work that relate to the duties listed in the job description. We love a good story!
Show Off Your Technical Skills: Since this role requires proficiency in insurance management software, make sure to mention any relevant tools you've used. If you’ve got experience with DCOM, ATLAS, or any other systems mentioned, let us know – we’re keen to hear about it!
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates. Plus, it’s super easy!
How to prepare for a job interview at MW Appointments
✨Know Your Stuff
Make sure you brush up on your technical knowledge related to Binding Authority. Familiarise yourself with Lloyd's processes, industry regulations, and the specific software mentioned in the job description. This will not only help you answer questions confidently but also show that you're genuinely interested in the role.
✨Prepare Real-Life Examples
Think of specific situations where you've successfully handled tasks similar to those listed in the job description. Whether it's preparing documentation or managing claims bordereaux, having concrete examples ready will demonstrate your experience and problem-solving skills effectively.
✨Ask Insightful Questions
Interviews are a two-way street! Prepare some thoughtful questions about the company culture, team dynamics, or the challenges they face in the industry. This shows that you're engaged and serious about finding the right fit for both you and the company.
✨Dress the Part
Even if the company has a relaxed dress code, it’s always better to err on the side of professionalism for an interview. A smart outfit can boost your confidence and make a great first impression. Remember, you want to convey that you take the opportunity seriously!
