Marsh & McLennan Associate Broker in Chicago, Illinois
Position Summary: The Associate Broker is responsible for assisting with the day to day activities of the Casualty Facultative Department with the main focus being Senior management/Broker support. This includes regular carrier and reinsurer communication and relationship development, working with brokers to prepare submissions for market solicitation, preparing quotes, binding documents, certificates and accompanying reports. The Associate Broker should have a general understanding of the marketplace and reinsurance transactions.
Assist in the placement process of new and renewal reinsurance business. Preparing submissions for the reinsurance marketplace. Document creation including Client quotations, Binders and Certificates Update Brokers on account status, reports etc., regularly and upon request Assist in responding to client queries and concerns, resolving issues promptly Assist in monitoring accounting anticipating and preventing problems when possible
Maintain knowledge of reinsurer capabilities (product lines, capacity, approvals, etc.). Develop relationships with both clients and reinsurers to help achieve the successful placement of individual prospects and the long term production goals of the office
Document all external correspondence and telephone conversation in accordance with GC procedures, minimizing the potential for errors and omissions Assist in timely production of submissions, cover notes, binders and endorsements Assist in the follow-up on file documentation, ensuring timely flow of materials
Respond to client requests for information (quotes, binders, certificates, reports, etc.) and clearing with Sr. Broker before releasing when sensitive.