At a Glance
- Tasks: Support Brokers with Binding Authority business and manage contract documentation.
- Company: Reputable Lloyd’s Broker known for its dynamic and client-focused environment.
- Benefits: Gain valuable experience in the London Market and develop technical expertise.
- Other info: Build relationships with industry professionals and enjoy career growth opportunities.
- Why this job: Join a specialist team and enhance your skills in a fast-paced, supportive setting.
- Qualifications: Experience in Binding Authority roles and strong organisational skills required.
The predicted salary is between 35000 - 45000 £ per year.
An excellent opportunity has arisen to join a well-established and highly regarded Lloyd’s Broker as a Binding Authority Technician. Working within a specialist Delegated Authority team, the successful candidate will provide technical support to Brokers and Account Executives, ensuring the efficient administration and processing of Binding Authority business across a diverse portfolio of International Non-Marine Risks. This role offers exposure to a broad range of delegated authority arrangements and would suit an individual with current London Market experience who is looking to further develop their technical expertise within a dynamic and client-focused broking environment.
Key Responsibilities
- Provide technical and administrative support to Brokers in the placement and ongoing management of Binding Authority business.
- Premium processing, claims processing, contract administration, and market filing activities.
- Ensure all contract documentation is accurate, complete, and compliant with Lloyd’s and company market requirements.
- Dealing with Xchanging/Velonetic enquiries in a timely and professional manner.
- Liaise with Underwriters, Coverholders, Brokers, and clients to obtain and verify information required for contract processing.
- Manage the submission and maintenance of Binding Authority records via Lloyd’s delegated authority systems and other market platforms.
- Monitor contract inception, renewal, and expiry dates, ensuring all documentation is processed within agreed service standards.
- Assist with the collection, review, and management of bordereaux submissions, escalating outstanding items where necessary.
- Maintain accurate records and documentation within internal systems and electronic filing structures.
- Assist with internal audits, compliance reviews, and regulatory reporting requirements.
- Build and maintain strong working relationships with Lloyd’s syndicates, company market underwriters, Coverholders, and other market stakeholders.
- Provide technical support to the wider Delegated Authority and Broking teams as required.
Role Requirements
- Experience in working in a Technical Binding Authority / Delegated Authority position for a Lloyd's Broker.
- Working knowledge of Lloyd’s market procedures and delegated authority processes.
- Experienced in premium and/or claims processing.
- Knowledge of DCOM, Atlas or Xchanging/Velonetic advantageous.
- Strong attention to detail with a commitment to accuracy and quality.
- Excellent organisational and time-management skills.
- Ability to manage multiple tasks and deadlines within a fast-paced environment.
- Strong communication and relationship-building skills.
- Proficiency in Microsoft Office applications, particularly Excel and Word.
Binding Authority Technician in London employer: Nashrock Insurance Recruitment
Join a prestigious Lloyd’s Broker as a Binding Authority Technician, where you will thrive in a supportive and dynamic work culture that values employee development and expertise. With access to a diverse portfolio of International Non-Marine Risks, you will benefit from ongoing training opportunities and the chance to build strong relationships within the London Market. Our commitment to excellence ensures that you will be part of a team that prioritises collaboration, innovation, and professional growth.
Contact Details:
Nashrock Insurance Recruitment Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Binding Authority Technician in London
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Don’t shy away from reaching out directly to firms like Nashrock Insurance Recruitment. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Binding Authority Technician in London
Some tips for your application 🫡
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How to prepare for a job interview at Nashrock Insurance Recruitment
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Nashrock Insurance Recruitment.
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Since this is a full-time position, employers at Nashrock Insurance Recruitment will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Nashrock Insurance Recruitment employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
