Broker Job Description
Broker
provides risk management and commercial property insurance guidance to clients with respect to their insurance program.
Broker Duties & Responsibilities
To write an effective broker job description, begin by listing detailed duties, responsibilities and expectations. We have included broker job description templates that you can modify and use.
Sample responsibilities for this position include:
Develop and maintain thorough knowledge of Property and Casualty Broking marketplace, products and services
Provide outstanding and timely service and support to clients, relationship managers
Handling policy & coverage related questions from staff issuing Certificates of Insurance
Attending internal pre-renewal strategy meetings with Broker, as required
Supporting Brokers with general day-to-day client servicing
In consultation with the broker, reviewing and requesting corrections to policy documents from Insurer, abeyance and follow up for timely delivery of correct policy documents
Assisting in the creation of submissions for all accounts
Requesting assistance from the Broker if unclear on how to proceed
Backing-up and supporting the Broker in the tracking of outstanding renewal documents and assisting with follow up with insurers for timely delivery of policy documents/endorsements
Develop and understand best coverage terms/conditions available
Broker Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Broker
List any licenses or certifications required by the position: CPA, CIA, CFA, CFSA, AHIP, LEED, CIP, CAIB, SMMP, AML
Education for Broker
Typically a job would require a certain level of education.
Employers hiring for the broker job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Education, Business, Associates, Finance, Real Estate, Medical, Economics, MBA, Management, Business/Administration
Skills for Broker
Desired skills for broker include:
Excel
Microsoft Office
Specifically Word
Outlook Exchange
Proficient in Internet Explorer
Products
Core insurance principles & provide explanation to clients
Insurance industry markets
Legal environments to provide a value-added service to agents/brokers
Insurance structures
Desired experience for broker includes:
GRIP / QDR Preparation and completion
Ability to maintain effective working relationships with clients, prospective clients internal Aon colleagues
Tasks may include pre-identification of qualified risks for available structured portfolio solutions (SPS), entering info and reporting from GRIP Client Promise initiatives
Bachelor’s degree, or the equivalent, required and two to five years of management liability industry experience preferred
Two to three years of corporate work experience required
Strong basic knowledge of the insurance brokerage business is preferred
Broker Examples
1
Broker Job Description
Job Description Example
Our company is growing rapidly and is looking for a broker. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for broker
- Builds, expands, and solidifies relationships with existing clients at senior levels within the company
- Works and collaborates with Aon leadership to achieve goals
- Perform policy contract reviews
- Help recruit, motivate, mentor and manage workflow of office placement staff
- Submit all data required for prospect and target marketing reports, commission memos
- Stimulate revenue growth and meet business objectives by placing new and renewal business, improving retention rates, increasing commission rates and utilizing group resources
- Negotiate terms for accounts and provide expertise for difficult to place business
- Directs the overall development and growth of team’s book of business and provides support to other Aon Risk Solutions colleagues with respect to Agents and Broker/Dealer specialty coverage
- Builds and maintains relationships with insurance markets, and clients
- Leading client presentations
Qualifications for broker
- Insurance licensing must be obtained
- Obtained insurance brokers license a plus
- 5-10 years in brokering, underwriting, and / or litigation experience
- Full knowledge of E&O Avoidance & Resolution
- Property & Casualty (P&C) insurance knowledge/experience is required
- Compliance and quality management expertise
2
Broker Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of broker. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for broker
- Insurance program structure planning and design of alternatives
- Works with either the underwriter or underwriting management to obtain the most appropriate carrier coverage
- Retains and grows Aon’s business by cultivating relationships with executive client decision-makers in client organizations
- Educates clients in the Entertainment industry, risk transfer, market issues, and relevant trends including appropriate benchmarking
- Operationalize and manage our PRS Preferred platform to service eligible renewal accounts and new business opportunities that meet our criteria, including coordinating with our strategic partners to innovate and drive value to our clients, training junior team members to utilize the platform and training internal and external clients on the value proposition of the platform
- Provide coaching to brokers in training
- Establish and maintain good relationship with clients
- Take responsibility for the smooth, speedy and efficient processing to settlement of the loans
- Liaise with clients and provide comprehensive lending advice in line with WVHL policy and industry requirements and regulations
- Make recommendations to the Client Service Manager and other Responsible Managers regarding appropriate loan providers
Qualifications for broker
- Ideally, 2+ years’ broker support experience preferred
- Candidate must have a strong ability to understand securities law and to negotiate technical contracts designed to provide protection for the company and its directors and officers for this exposure
- Knowledge of ProCalc or Argus preferred
- Involves movement between departments, floors, and properties to facilitate work to include
- 0-3 years in brokering and/or underwriting Cyber / E&O lines and/or BA in Risk Insurance Management, Finance, Economics or Business Administration
- Graduates from any field
3
Broker Job Description
Job Description Example
Our company is growing rapidly and is hiring for a broker. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for broker
- Draft broadform Assets and Liability policy wordings with assistance
- Draft standard policy wording in respect of all other classes without assistance
- Acquire detailed knowledge of market and broadform wordings
- Prepare endorsements without assistance
- Draft closing instructions without assistance
- Check slips and policy documentation from local and overseas markets
- Identify and collate all underwriting information relative to clients’ needs
- Assist with the production of renewal information questionnaires
- Prepare all broking notes for local and overseas markets on medium sized portfolios with no assistance
- Lead renewal meetings with the local market for non-complex placements / risks
Qualifications for broker
- Have a passion for building and cultivating relationships with people
- At ease working in multicultural environment
- University or higher education (equivalent of a bachelor’s degree)
- 10+ years experience in the Property insurance brokerage industry with a comprehensive understanding of occurrence and occurrence reported forms
- Proficient in the preparation and delivery of presentations for new business and client service meetings
- Promote creativity in presenting new ideas and approaches for clients or prospects
4
Broker Job Description
Job Description Example
Our company is searching for experienced candidates for the position of broker. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for broker
- Broking on complex placements / risks with assistance
- Draft correspondence / argument with no assistance
- Premium calculations with no assistance
- Attend training when requested
- Participate in the renewal meeting with the client when requested by Client Executive
- Actively participate in local placement / internal strategy meetings and general team support in placement
- Ensure compliance with Acts / Regulations relating to insurance, ensuring E & O exposures are avoided
- Competently handling in-house invoicing, maintenance of risks electronically, hard copy filing and archiving
- Ensure compliance with SASRIA regulations and procedures
- Provide assistance to Client Executives and claims colleagues
Qualifications for broker
- Minimum of 1+ years professional experience in Commercial Real Estate or Finance
- Must procure and maintain a real estate salesperson’s license as required
- Basic understanding of statistics/quantitative analysis
- MarineMarine insurance knowledge/experience is required
- The candidate will have a minimum of 3 years of insurance brokerage experience, preferably with a background in property and casualty insurance and risk management brokerage
- Insurance broker’s P&C license required (2-20 license)
5
Broker Job Description
Job Description Example
Our company is searching for experienced candidates for the position of broker. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for broker
- Reviews coverage specifications to be submitted to carriers for accuracy
- Assists in the creation of the program submission, including coverage specifications in collaboration with Brokers and/or Placement Specialist
- Assist in the creation of the client’s program marketing plan
- Assists Broker in all aspects of policy management including follow up for policies, policy review against bound terms and expiring terms, correction requests and policy delivery
- Assists Broker on administrative tasks relating to surplus lines placements
- Assist in the analysis of quotes from carriers and preparation of relevant analysis to clients and client team members
- Identifies differences against expiring, claims made terms, surplus lines requirements & subjectivities
- Deliver submission to carrier/market and sends copy to client team members
- Builds and maintains relationships with underwriters and peers
- Schedules carrier/market presentations
Qualifications for broker
- Previous experience in a similar role with an Insurance Broker or Underwriter
- Ongoing completion of all continuing education requirements to maintain competency in lending, completion of all CE necessary to maintain Responsible Manager Status on the WVHL Australian Credit License
- Minimum 6 years appropriate experience in short term commercial and corporate business insurance and client service delivery function
- Matric Certificate – Actual document is a pre-requisite, certified
- Date of First Appointment Certificate from the FSB
- Proof of credits from INSETA