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- Tasks: Join us as a Binder Broker, managing client relationships and negotiating binding authority agreements.
- Company: We're an independent Lloyd's broker known for our expertise and bespoke service in the insurance market.
- Benefits: Enjoy continuous professional education support and work in a dynamic team environment.
- Why this job: This role offers a chance to influence strategic operations and develop your career in a reputable firm.
- Qualifications: You need extensive experience in the Lloyd's market and strong negotiation and communication skills.
- Other info: Ideal for those with a robust network in the UK insurance community.
The predicted salary is between 43200 - 72000 £ per year.
Binder Broker
Salary: Not specified
Location: London, Essex
Job Type: Permanent
Ref: SJP230772
As an established and independent Lloyd’s broker, our client pride themselves on their expertise, integrity, and bespoke service. With a strong foothold in the insurance market, their focus is on delivering innovative solutions and maintaining enduring relationships with their clients and partners. The team is a blend of seasoned professionals and dynamic innovators, committed to upholding the highest standards of the industry.
Role Overview:
We are in search of an Experienced Binding Authority Broker who possesses an in-depth understanding of the insurance market, particularly within the binding authority space. The ideal candidate will have an established network within the UK broker community and a track record of fostering growth and managing complex insurance portfolios.
Key Responsibilities:
Business Development and Client Management:
Utilize existing broker networks to expand business and develop new opportunities.
Cultivate and manage client relationships, ensuring exceptional service and satisfaction.
Stay abreast of market trends to identify and capitalize on new business prospects.
Binding Authority Agreements Management:
Skillfully negotiate and manage binding authority agreements.
Maintain compliance with Lloyd’s of London standards and regulatory frameworks.
Assess the performance and profitability of binding authority contracts.
Risk Assessment and Portfolio Oversight:
Execute detailed risk evaluations for insurance proposals.
Oversee a diverse portfolio of binding authority contracts.
Offer expert advice on risk management and optimal coverage strategies.
Team Collaboration and Leadership:
Collaborate with underwriters, actuaries, and other insurance professionals.
Influence strategic planning and direction of the brokerage operations.
Guide and support the professional development of junior brokers and team members.
Qualifications:
Extensive experience as a Binding Authority Broker, with a focus on the Lloyd’s market.
Robust network within the UK insurance broker community.
Deep understanding of insurance products, market dynamics, and regulatory landscape.
Exceptional negotiation, communication, and relationship management skills.
- Advanced knowledge of Microsoft products (Word, Excel and Outlook) or similar software applications.
- Ability to manage time, prioritise and ensure that deadlines are met without compromising quality.
- Ability to understand and execute oral and written instructions.
- Ability to communicate effectively and professionally both verbally and in writing with clients, insurers and other associates.
Our client is committed to continuous professional education and will offer study support when required.
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Binder Broker employer: The Recruiter Ltd
Contact Detail:
The Recruiter Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Binder Broker
✨Tip Number 1
Leverage your existing network within the UK broker community. Reach out to former colleagues, industry contacts, and attend networking events to strengthen relationships and uncover potential opportunities.
✨Tip Number 2
Stay updated on the latest trends in the insurance market, especially regarding binding authority agreements. This knowledge will not only help you in discussions but also demonstrate your commitment to the field.
✨Tip Number 3
Showcase your negotiation skills by preparing for potential scenarios you might encounter in the role. Think about how you would approach complex contracts and be ready to discuss your strategies during interviews.
✨Tip Number 4
Highlight your experience in managing diverse portfolios. Be prepared to share specific examples of how you've successfully overseen binding authority contracts and contributed to business growth.
We think you need these skills to ace Binder Broker
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and qualifications required for the Binder Broker position. Tailor your application to highlight your relevant experience in business development, client management, and binding authority agreements.
Highlight Your Network: Emphasize your established network within the UK broker community in your CV and cover letter. Provide specific examples of how you've utilized this network to foster growth and manage complex insurance portfolios.
Showcase Your Skills: Clearly demonstrate your negotiation, communication, and relationship management skills in your application. Use concrete examples from your past experiences to illustrate how you've successfully managed client relationships and binding authority agreements.
Tailor Your Documents: Customize your CV and cover letter to reflect the key responsibilities and qualifications mentioned in the job description. Make sure to include your advanced knowledge of Microsoft products and your ability to manage time effectively.
How to prepare for a job interview at The Recruiter Ltd
✨Showcase Your Network
Highlight your established connections within the UK broker community. Be prepared to discuss how these relationships have helped you in previous roles and how you plan to leverage them for business development.
✨Demonstrate Market Knowledge
Stay updated on current trends in the insurance market, especially regarding binding authority agreements. Be ready to share insights on recent developments and how they could impact the brokerage's strategy.
✨Prepare for Negotiation Scenarios
Since negotiation is a key part of the role, practice discussing past experiences where you successfully negotiated binding authority agreements. Use specific examples to illustrate your skills and approach.
✨Emphasize Team Collaboration
Discuss your experience working with underwriters, actuaries, and other professionals. Highlight instances where you influenced strategic decisions or supported junior team members, showcasing your leadership abilities.
