Associate Director - Singapore - UIB ASIA REINSURANCE BROKERS PTE. LTD.
Description
Overall Role:
This is a client-facing role in a team environment that involves the placement and servicing of existing accounts and other accounts identified by the line manager, as well as new business production for treaty reinsurance.
Key Accountabilities/Core Competence Indicators:
Retention of Existing Portfolio
- To assist the HoD in servicing existing treaty portfolio and to provide high level of service level so that renewals are secured.
Expansion of Current Portfolio
- To assist in reviewing ongoing needs of our treaty clients and recommend suitable new treaty program/products to meet their growing needs.
Development of Target Clients
- To research and identify new target treaty clients for business development.
- To identify suitable placement markets / reinsurance markets for such target clients.
- To identify suitable business strategy for such target clients to materialise.
Quoting and Placement
- To identify suitable markets to obtain competitive quotations and terms.
- To identify suitable following markets to place accepted quotes.
- To handle special acceptances after inception or renewal date.
Maintaining Business Relationships
- To cultivate new business and maintain existing business relationships to explore business opportunities for both reinsurers and clients.
Documentation and Broking Records
- To ensure that proper records are maintained for audit purpose and future renewals negotiations.
- Treaty coverages / slips meet with Cedants' regulatory and markets requirements.
- Markets presentations secure best possible terms for the clients, with full material disclosure.
- Placement submissions meet the requirement of treaty leaders and all queries coming leading and following markets are satisfied.
- Negotiation and obtaining quotations from at least 3 markets for comparison of coverage and pricings to meet clients' requirements.
- Document and practice quality does not create E & O exposure.
- Achieves retention through planned and coordinated account renewal.
- Maintaining of all proper records for audit examination.
- Maintains confidentiality in systems and procedures.
Knowledge and Skills:
- Generic Knowledge and Skills.
- Fit & Proper with Insurance related qualifications according to MAS 502 such as CGI, Chartered Insurance Practitioner, ACII.
- Familiarity with major markets and industry structure within SEA.
- Able to identify and structure suitable program and solutions for treaty clients.
- Risk analysis and Slip drafting.
- Negotiation with both clients and reinsurers to secure best terms for clients.
- Strong verbal and written communication.
- Client servicing and account development.
- NetReibs knowledge or equivalent broking system knowledge.
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