Overall Role:
This is a client facing role in a team environment that involves servicing existing accounts, as well as new business production and new product development of treaty reinsurance. The role includes conducting market research and market segmentation to identify ideal segments for pursuit. Identifies business opportunities and assists in proposal development. Builds relationships through understanding and determining client needs, making excellent sales calls and presentations offering business solutions.
Key Accountabilities/Core Competence Indicators:
Retention of Existing Portfolio
- To service existing treaty portfolio and provide high level of service level so that renewals are secured.
Expansion of Current Portfolio
- To review ongoing needs of our treaty clients and recommend suitable new treaty program/products to meet their growing needs.
Development of Target Clients
- To research and identify new target treaty clients for business development.
- To identify suitable placement markets / reinsurance markets for such target clients.
- To identify suitable business strategy for such target clients to materialise.
Quoting and Placement
- To identify suitable markets to obtain competitive quotations and terms.
- To identify suitable following markets to place accepted quotes.
- To manage and resolve any subjectivities, warranties or terms for both clients and reinsurers.
- To handle special acceptances after inception or renewal date.
Maintaining Business Relationships
- To cultivate new business and maintain existing business relationships to explore business opportunities for both reinsurers and clients.
Documentation and Broking Records
- To ensure that proper records are maintained for audit purpose and future renewals negotiations.
- Treaty coverages / slips meet with Cedants’ regulatory and markets requirements.
- Markets presentations secure best possible terms for the clients, with full material disclosure.
- Placement submissions meet the requirement of treaty leaders and all queries coming leading and following markets are satisfied.
- Negotiation and obtaining quotations from at least 3 markets for comparison of coverage and pricings to meet clients’ requirements.
- Document and practice quality does not create E & O exposure.
- Achieves retention through planned and coordinated account renewal.
- Maintaining of all proper records for audit examination.
- Maintains confidentiality in systems and procedures.
Knowledge and Skills:
· Degree qualified, or with the relevant mandatory insurance qualifications (Certificate in General Insurance, etc) as per MAS 502 requirements for brokers.
· Minimum 8 years of general insurance/reinsurance industry experience.
· Independent mind-set, demonstrates desire to grow professionally.
· Works effectively in teams.
· Possess knowledge on Contract wordings and market norms / requirements.
· At all times behave in a way that upholds and promotes the good name and reputation of UIB Group.
· Deal honestly and fairly with colleagues, clients, and others within the insurance profession.
· Take responsibility for own learning and development. Keep up-to-date with best practice and legal developments relating to your own field of expertise. To meet all external and internal training requirements.
· Works with professionalism and business etiquette.
· Good skills with individual application in Microsoft Office Suite (Word, Excel, PowerPoint and Outlook).
· Able to work under pressure with efficient time management.
· Familiarity with major markets and industry structure within SEA.
· Able to identify and structure suitable programmes and solutions for treaty clients.
· Risk analysis and Slip drafting.
· Negotiation with both clients and reinsurers to secure best terms for clients.
· Strong verbal and written communication.
· Client servicing and account development.
· IT literacy in MS Office applications.
· NetReibs knowledge or equivalent broking system knowledge.
We regret to inform that only shortlisted candidates will be contacted.
Thank you for your interest in this role.
