At a Glance
- Tasks: Administer Binding Authority agreements and ensure compliance with Lloyd's standards.
- Company: Respected international Lloyd's Broker known for excellent staff retention.
- Benefits: Competitive salary, career development opportunities, and a supportive work environment.
- Other info: Opportunity for continuous improvement and professional growth in a collaborative setting.
- Why this job: Join a dynamic team and play a key role in global insurance projects.
- Qualifications: 10+ years in London Market with strong knowledge of delegated authority processes.
The predicted salary is between 36000 - 60000 £ per year.
A brand new opportunity has arisen for a well-respected and international Lloyd’s Broker, who are renowned for their excellent staff retention in the market. Our client is now seeking an experienced Binding Authority Technician, in a role that involves setting up Binding Authority agreements, working collaboratively with Brokers, Clients & Underwriters, as well as being an instrumental part of the timely and accurate creation of Binder Slips & Endorsements for Global Property Energy, Aviation & Personal Accident Risks.
Role Overview & Responsibilities
The Delegated Authority – Binding Authority Agreement Technician is responsible for the effective administration, oversight, and governance of delegated authority business. This role ensures the accurate setup, maintenance, and compliance of Binding Authority Agreements, bordereaux reporting, and supporting documentation in line with internal controls, Lloyd’s standards, and regulatory requirements. The position plays a key role in maintaining a robust, compliant, and well-controlled delegated authority framework.
Binding Authority Agreement Administration
- Set up, draft, renew, and maintain Binding Authority Agreements across internal and Lloyd’s systems, including Whitespace, ATLAS, and DCOM.
- Ensure all binder documentation is accurate, complete, and compliant with internal governance and Lloyd’s requirements.
- Monitor key contractual dates, endorsements, amendments, and renewals across delegated authority arrangements.
Bordereaux Management
- Manage the receipt, validation, and reconciliation of risk and premium/claims bordereaux from coverholders and intermediary brokers.
- Upload, review, and reconcile bordereaux data within delegated authority platforms, including DA SATS, Tide, and internal systems.
- Investigate and resolve data discrepancies to ensure timely, accurate, and complete reporting.
Compliance & Governance
- Support coverholder onboarding, due diligence, audits, and annual compliance reviews.
- Monitor coverholder performance and adherence to underwriting authority and agreed controls.
- Maintain accurate records and audit trails to support regulatory reporting through Lloyd’s systems, including DAM.
Stakeholder Support
- Act as a key point of contact for underwriters, brokers, coverholders, and internal operational teams.
- Respond to Binding Authority-related queries, providing clear, timely, and effective stakeholder communication.
Continuous Improvement & MI
- Contribute to the ongoing development and enhancement of delegated authority processes, including automation and system improvements.
- Support management with Management Information (MI) reporting and data analysis to monitor performance, trends, and risks.
About You
- 10 years + of London Market experience and a proven experience within delegated authority or Binding Authority Agreement administration (creating Slips and Endorsements).
- Strong working knowledge of Lloyd’s and London Market systems and delegated authority processes.
- Experience using platforms such as ATLAS, DCOM, DA SATS, and DAM.
- Excellent numerical and analytical skills with a high level of attention to detail.
- Strong written and verbal communication skills, with the ability to manage multiple stakeholders effectively.
Insurance Technician - Binding Authorities in London employer: Nashrock Insurance Recruitment
Join a dynamic and respected specialist underwriting organisation in London, where you will have the opportunity to take ownership of a diverse portfolio of international specialty risks. With a strong emphasis on employee growth, this company fosters a collaborative work culture that encourages innovation and relationship-building with brokers, ensuring you can thrive in your role while enjoying competitive salary packages and benefits.
Contact Details:
Nashrock Insurance Recruitment Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Insurance Technician - Binding Authorities in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
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✨Look Out for Graduate Schemes
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✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Nashrock Insurance Recruitment. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Insurance Technician - Binding Authorities in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Nashrock Insurance Recruitment.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Nashrock Insurance Recruitment. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Nashrock Insurance Recruitment
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Nashrock Insurance Recruitment to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Nashrock Insurance Recruitment, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Nashrock Insurance Recruitment's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
