Commercial/General Lines Insurance Account Executive/Insurance Broker | A Leading Insurance Broker Company in UAE
Employment:
Full Time
Overall roleResponsible for supporting, placing and servicing to meet client needs, maintain client loyalty and renewal, and encourage business growth.Key AccountabilitiesAccount Strategy• Develop overall account strategies and direct activities for new and existing clients• Account Servicing and Development• Identify and manage client requirements in accordance with the terms of appointment.Renewal Management• Plan and coordinate renewal strategies.• Placing Strategy and Supervision• Determine the optimum strategy and structure for placing a risk. Place, Monitor, supervise and guide placements on a day-to-day basis.• Account Profitability• Achieve optimum profitability on individual client accounts• Account Reporting• Monitor and report development, trends and issues in the client relationship.• Client Education• Educate clients and manage client expectations through market, insurance and sector briefings.• File Management• Set-up, coordinate and manage client and placement recordsCompetence Indicators• All placing, contract and closing documentation satisfies the client requirements and complies with Internal Procedures/Best Practice Manual (“BPM”) and Market Reform. • Understanding of key concepts of insurance and reinsurance• Placement submissions are in accordance with Contract Certainty Code of Practice• Manages client requirements in accordance with the terms of appointment, to maintain a strong client relationship, support renewal and encourage additional business• Ensures that clients have and agree to broker terms of trade.• Ensures agreed payment terms, Premium Payment Warranties etc. are met through credit control and reconciling unallocated cash.• Responds timely and accurately to client and underwriter queries.• Clients receive a quality of service that adds value. • No justified client complaints over provision of service.• Contributes to retention targets through planned and coordinated account renewal.• Identifies and develops opportunities for account development to meet the client’s requirements.• Ensures that correspondence, documents, statistics etc. are retained on file in accordance with BPM and internal procedures.• Prepares monthly Divisional Management Information (MI) to accurately report, brokerage and fees, renewal lists/progress, late signings etc.• Identifies and reports suspicious financial circumstances or transactions directly to the Financial Crime Reporting Officer. • Programme includes restructuring if need be. Rationalisation of policy wording if need be.• Placing structure is appropriate to the insured’s operations; exposure and risk transfer goals• All placing, contract and closing documentation satisfies the client requirements and complies with Internal Procedures/Best Practice Manual and Market Reform• Has to be able to work well in a team environment in co-ordination with other team members.• Placement submissions are in accordance with Contract Certainty Code of Practice• Market presentations secure best possible terms for the client, with full material disclosure• Manages client requirements in accordance with the terms of appointment, to maintain a strong client relationship, support renewal and encourage additional business• Optimises account profitability through client negotiation, efficient use of resources and account development.• Ensures agreed payment terms, Premium Payment Warranties (PPW) etc. are met through credit control• Responds timely and accurately to client and underwriter queries.• Clients receive a quality of service that adds value.• No justified client complaints over provision of service• Investigates and resolves complaints and service failures• Achieves retention targets through planned and coordinated account renewal• Identifies and develops opportunities for account development to meet the client’s requirements• Prepares monthly Divisional Management Information (MI) to accurately report, brokerage and fees, renewal lists/progress, late signings etc• Financial and document checks and approval comply with Authorised Signatory List.• Maintains confidentiality in systems and proceduresInternal Relationships• Broking, Technical/Wordings functions, Claims and AccountsExternal Relationships• Underwriters, Client Risk/Insurance Managers in client companies, trade bodies and associations
Desirable Experience• UAE, London or international market experience in broking (preferable) but can be in underwriting, Account servicing to large international corporations; technical insuranceGeneric Knowledge and Skills• Market and industry structure and operation, including regulation and market reform• Lloyd’s Introductory Test, or equivalent experience• Technical insurance to CertCII, or equivalent experience or better• Sector specific risks and insurance products/solutions• Slip drafting• Negotiation• Well-developed verbal and written communication• Client servicing and account development• IT literacy in Word, Outlook and Excel (Advanced)• Relationship management• Planning and organising• Time management and prioritisation
A leading insurance broker company in UAE. More