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- Tasks: Manage binding authority agreements and ensure compliance with underwriting standards.
- Company: Join a dynamic insurance firm in the heart of London, focused on innovation and excellence.
- Benefits: Enjoy 25 days holiday, hybrid working, private health insurance, and a vibrant office culture.
- Why this job: Be part of a supportive team, enhance your skills, and make an impact in the insurance industry.
- Qualifications: 3+ years in insurance underwriting, strong communication skills, and familiarity with Lloyd's practices required.
- Other info: Opportunity for career growth and access to mental health support and financial wellbeing resources.
The predicted salary is between 36000 - 60000 £ per year.
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 toSpill, our mental health platform
- Cycle to work scheme
- Fun andmodern office environment with regular team social events
- City ofLondon location
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Binding Authority Technician · London · employer: Superscript
Contact Detail:
Superscript Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Binding Authority Technician · London ·
✨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 with binding authority agreements. Attend industry events or join relevant online forums to make connections that could lead to job opportunities.
✨Tip Number 3
Stay updated on regulatory changes affecting the insurance industry. Being knowledgeable about current regulations will show potential employers that you are proactive and well-informed.
✨Tip Number 4
Prepare for interviews by practising common questions related to binding authority roles. Focus on your experience with bordereaux management and compliance, as these are key aspects of the job.
We think you need these skills to ace Binding Authority Technician · London ·
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Binding Authority Technician position. Familiarise yourself with terms like 'binding authority agreements' and 'bordereaux management' to demonstrate your knowledge in your application.
Tailor Your CV: Highlight your relevant experience in delegated authority or insurance underwriting support. Be specific about your familiarity with Lloyd's and company market procedures, as well as any proficiency in insurance systems like LIMOSS or Atlas.
Craft a Strong Cover Letter: Use your cover letter to showcase your attention to detail and organisational skills. Mention specific examples from your past work that align with the tasks listed in the job description, such as managing compliance with regulatory requirements or conducting audits.
Proofread Your Application: Ensure that your application is free from spelling and grammatical errors. A polished application reflects your professionalism and attention to detail, which are crucial for this role.
How to prepare for a job interview at Superscript
✨Know Your Regulatory Stuff
Make sure you brush up on FCA and Lloyd's regulations before the interview. Being able to discuss compliance and regulatory requirements confidently will show that you understand the industry's standards.
✨Demonstrate Attention to Detail
Since this role requires exceptional attention to detail, prepare examples from your past work where your meticulousness made a difference. Highlight how you ensured data integrity in previous roles.
✨Familiarise Yourself with Bordereaux Management
Understand the ins and outs of bordereaux management as it's a key part of the job. Be ready to discuss your experience with managing these reports and any systems you've used, like LIMOSS or Atlas.
✨Prepare Questions for Them
Have a few insightful questions ready about their binding authority governance frameworks or how they handle regulatory changes. This shows your genuine interest in the role and the company.
