Marsh & McLennan Reinsurance Broker in Chicago, Illinois
Reinsurance brokers manage all aspects of new and renewal placement processes and the execution of the client’s needs and requests. It is a client facing position which requires excellent sales/negotiation skills and knowledge to create the best possible terms available. He/She coordinates the activities of the team (Technical Assistant / Associate Broker / Broker I) and is active daily in new business development and generation via existing contacts, new meetings, visits, etc. He/She is also actively involved in the preparation/presentation of client and reinsurer presentations. Reinsurance Broker is building relationships with reinsurers and clients turning those relationships into opportunities and in turn generating revenue for the firm.
New Business Development
Develop and participate in new/renewal/prospective presentations to clients and reinsurers Produce new clients and design programs for them, establish relationships through meetings, exhibit professional skills, and entertain in order to generate revenue Project Management
Oversee the timely production of appropriate tasks and assignments for client projects and placement process Own the issue whether it be originated by client, reinsurer, or internal service and coordinate response Liaise with applicable Guy Carpenter business units/departments to ensure the proper level of client service and timely flow of business process Monitor the follow-up on negotiations and contract documentation, ensuring the timely flow of materials. Business Retention
Design new programs for clients’ needs, placing business with client-approved reinsurers Respond to client queries and concerns, resolving issues promptly. Establish and maintain strong relationships with reinsurers, clients, and colleagues Budget
Manage expenses, time, services, etc. in order to maximize GC profit margins.
Best Practice Procedures and Compliance Policies
Understand all best practice procedures and compliance policies. When new procedures are provided, understand and adopt new procedures as rolled out, take required training and speak up with any questions or concerns uncovered in your role at Guy Carpenter Follow all best practice procedures and compliance requirements, and ensure placement documentation is complete to eliminate any potential errors and omissions. Business Knowledge
Maintain comprehensive knowledge of reinsurer capabilities (product lines, capacity, approvals, etc), with the help of Market Information Department, Legal Department, and other departments as necessary QualificationsEducation (degree / diploma):
Bachelor’s Degree required. Experience:
5-8 years related experience with the ability to deal with moderately complex accounts and mid-sized generating clients. Knowledge and skills (general and technical):
Thorough knowledge of insurance and reinsurance concepts and terms for developing and placing reinsurance programs, preparing placement slips and cover notes, and drafting or amending new and existing contracts. Strong interpersonal skills for establishing and maintaining good client, reinsurer and internal relationships. Strong verbal and writing skills for complex communications (presentations, negotiations, etc.) with clients, markets and GC colleagues at many levels. Strong ability to prioritize workload according to volume, urgency, etc. Strong ability to find creative solutions to new problems, as they arise. Strong ability to be organized and pay attention to detail. Strong computer skills for using Microsoft Office Suite (Excel, Word, PowerPoint). Strong ability to maintain compliance with professional standards, where applicable, as well as company-wide quality initiatives. Strong ability to address client needs by accessing and organizing resources. Strong ability to manage clients and help them address issues proactively. Strong ability to understand clients' business industry. Strong ability to work as part of a team to support clients' needs. Strong ability to handle significant workflow through efficient time management. Strong ability to challenge appropriately - supports case with facts and information. Strong ability to seek ways to streamline and improve current processes. Assist in and play a role in client presentations. Demonstrate commitment to clients and helps them address issues proactively. Demonstrate skills at identifying and solving potential problems in their specialty and develops Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist, has over a 90-year history of providing integrated solutions to the (re)insurance industry. With over 2,300 professionals in more than 50 offices around the world, Guy Carpenter delivers a powerful combination of broking expertise, strategic advisory services and industry-leading analytics to help our clients achieve profitable growth. As our clients’ most trusted and valuable reinsurance broker and strategic advisor, we leverage our intellectual capital to anticipate and solve for a range of emerging strategic business challenges and opportunities. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. Visit www.guycarpenter.com for more information and follow us on LinkedIn and Twitter @GuyCarpenter
Guy Carpenter & Company, LLC and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC).
Marsh & McLennan Companies offers competitive salaries and comprehensive benefits and programs including: health and welfare, tuition assistance, 401K, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: http://www.mmc.com/. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity.
Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers. R_013918-en