Job Description – Key Tasks and Responsibilities
1. New Business
a. Identify new business opportunities
b. Secure identified new business
2. Place Business
a. Provide advice on risk and insurance issues
b. Obtain insurance on appropriate terms, price and insurer to meet the client’s requirements
c. Maintain records of negotiations, presentations and communications with insurers
d. Effect amendments to an existing insurance on appropriate terms and price to meet the client’s requirements
3. Support Business
a. Produce documentation to support the placing of insurance contracts
b. Communicate, present and negotiate details of cover to/with insurers and/or clients
c. Check and maintain records of negotiations, presentations and communications with insurers and with clients
d. Produce and/or review documentation to evidence insurance contracts placed including wordings, policies and associated negotiations with insurers and clients
e. Ensure receipts of funds due to meet settlement terms
f. Ensure the timely resolution of problems
g. Maintain administrative lists, logs, trackers and diary systems
h. Complete monthly QAFA file audits
4. Retain Business
a. Service the account to identify the client’s requirements
b. Develop an account strategy to meet the client’s requirements.
c. Maximise account income through negotiation with the client, efficient use of resources and account penetration
5. Develop and manage effective internal / external relationships, communicating effectively at all levels
6. Manage performance
a. Effectively plan and organise workload in order to meet business timescales
b. Utilise core systems / market interfacing technology to effectively process and manage the company’s business
c. Self-Motivate in order to achieve desired results with regard to team, division, company and annual personal objectives
7. Manage Compliance, Regulatory Requirements and Market Issues
a. Be aware of / adhere to operating procedures as detailed within the Operating Procedures Manual (OPM) / Team supplements / Transportation Best Practice documentation
b. Understand changes and developments in regulation / Market Reform, including impact upon the business
8. Development
a. Conduct effect analysis of own training requirements
b. Take responsibility for own continuous learning
c. Mentor colleagues that require support
Qualification and Experience
Generic Knowledge
- At least 5 years industry knowledge.
- MAS regulation including Money Laundering, Anti Bribery & Corruption, Insurance Conduct of Business Sourcebook (ICOBS) and Business Contacts, Treating Customers Fairly, Conflicts of Interest, Complaints Handling, General Data Protection Regulation (GDPR), Insurance Distribution Directive (IDD), Insurance Act 2015
- Business sector specific products (Previous Experience in P&I)
- Business sector specific risks
- IT – Microsoft Office
Specific Knowledge
- OPM (as applicable to the role) and Team Supplement
- Legal & Compliance (E&O Awareness)
- Company policies and procedures (including Gifts and Entertainment Policy), internal compliance and operational standards
- IT – Processing Systems
- Team structure and reporting lines
