Placement Broker
Job Description
The Role
Our Corporate Risk & Broking business - We know how companies can unlock potential through effective risk management. Our clients rely on us to craft strategies to quantify, mitigate and transfer risk, taking advantage of our specialist industry experience and unparalleled market know-how. The result is a new way of embracing risk that drives superior results.
The Broker position is a highly-collaborative role that is heavily focused on client service across many industry segments. The position requires the ability to manage all day-to-day broking activities on accounts plus support peers and Regional Leaders on various accounts.
Duties include, but are not limited to:
• Stimulate revenue growth and meet business objectives by placing new and renewal business, improving retention rates, managing commission rates and utilizing group resources
• Seek adequacy of coverage and competitive rates for clients and prospects
• Negotiate terms for accounts and provide expertise for difficult to place business
• Provide coverage and program design advice and expertise to Client Executives and clients
• Provide knowledge to Client Executives and clients about markets and products
• Prepare submission/coverage specifications and sublimit proposals to carriers for quotes
• Receive quotes from carriers and negotiate the best program for clients, provide coverage and pricing comparisons
• Communicate with Client Executive or client regarding program improvements and recommendations
• Preparation and finalization of Carrier quotes and Client coverage confirmations to ensure contract certainty
• Assist as technical resource for junior placement brokers
Qualifications
Requirements
• 5 years experience as a Placement Broker
• FAIS compliant: RE5 as well as 120 credits at NQF level 5 (or relevant degree)
• Technical knowledge of all lines of insurance as well as insurance contracts/structure
• Knowledge and understanding of the global marketplace
• Experience in placing/handling medium to complex risks
• Compliance and quality management expertise
• Computer skills, including Excel, Word, PowerPoint, Outlook
• Computer system skills; ability to work within agency management systems
• Ability to provide expert, in depth advice to client resulting in overall client satisfaction
• Skilled at interfacing with customers
• Strong presentation and communication skills in English and Afrikaans
• Support nationally based relationships with carriers and clients
Equal Opportunity Employer
Preference will be given to applicants from designated groups, in line with the South African Employment Equity Act.
WTW is committed to finding opportunities to promote workplace flexibility when possible based on the needs of our customers and the company. We are pleased to say that this role meets the criteria for flexible work.
