Broker I is responsible for supporting the broking placement process and execution of the client's go to market strategy The Broker I coordinates his or her efforts with the senior broking team for the account in order that the transaction is aligned with the overall engagement. Broker I coordinates the Technical Assistant's and/or Associate Broker's responsibilities with respect to creating the underwriting submission and managing the flow of information during the placement process.
- Update management on issues, progress, etc, regularly and upon request.
- Assist senior brokers with complex analysis
- Provide thorough review of contract documentation to ensure contract drafter has accurately captured terms and conditions for negotiation and finalization
- Monitor follow-up on contract documentation, ensuring the timely flow of materials
- Maintain comprehensive knowledge of reinsurer capabilities (product lines, capacity, approvals, etc), with the help of Market Information Department, Legal Department, and other departments as needed.
- Develop deeper functional knowledge in capability areas
- Manage expenses, time, services, etc.
- Understand all best practice procedures and compliance policies.
- Follow all best practice procedures and compliance requirements, including but not limited to building a complete placement file as the placement progresses to minimize errors & omissions.
- Obtain the most appropriate market placements and services for assigned accounts based on senior broker's assessment of client needs.
- Respond to client queries and concerns, resolving issues promptly.
- Assist with the design of new programs and recommendations for clients' needs, placing business with client-approved reinsurers.
- Assist in responding to client request for information (reinsurer financial reports, industry issues, etc), coordinating with Market Information and other departments as necessary.
- Establish and maintain strong relationships with reinsurers, clients, colleagues at Guy Carpenter.
- Bachelor's Degree is required.
- 5 years related experience.
- Thorough knowledge of insurance/reinsurance concepts and terms for developing and placing reinsurance programs, preparing placement slips and cover notes and drafting or amending new and existing contracts.
- Interpersonal skills for establishing and maintaining good client, reinsurer and internal relationships.
- Solidverbal and writing skills for complex communications (presentations, negotiations, etc.) with clients, markets and GC colleagues at many levels.
- Good ability to prioritize workload according to volume, urgency, etc andfind creative solutions to new problems, as they arise.
- Strong computer skills for using Microsoft Office (Excel, Word, PowerPoint).
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