Junior Reinsurance Broker

Company:

Description:

Assists more senior Placement colleagues with analytics and evaluating clients' insurance programs to better serve clients.

Begins to cultivate a thorough understanding of insurance markets to better serve clients.

Assists more senior Placement during negotiations with insurance carriers by securing and comparing submissions, under direct supervision.

Drafts proposal components that help more senior Placement colleagues to win new business and opportunities.

Participates in all aspects of the TRAC Associate program, year one.

What can you expect?

• Initially the role will be supporting Senior Reinsurance Brokers on their portfolio of Clients. Relatively quickly a portfolio of own Clients will be assigned.
• Negotiate Reinsurance contracts for Marsh Clients where CMF is involved.
• Working with the Retail broker contribute to the Placement Strategy e.g. (Re) Insurers to approach and on what basis.
• Advise the Retail Broker of the Reinsurance terms that have been received. Recognize when quoted terms may not be in line with Marsh Client or Reinsured’s expectations and renegotiate accordingly.
• Create Reinsurance contracts that reflect the Quoted terms and conditions prior to providing binding instructions to Reinsurers.
• Manage changes during the policy period by creating and checking Endorsements and seek agreement with the (re)Insurers,
• Work with the CMF Service team to ensure placement files are in order and that invoicing processes of reinsurance premiums can be completed
• Support where needed work with CMF Service team to identify where there are discrepancies between invoiced and received reinsurance premiums
• Support where needed to ensure that all (re)insurers CMF is working with have an agreed Terms of Business Agreement (TOBA) in force
• Support where needed to resolve ay Notice of Cancellations from (re)Insurers predominantly regarding late payment of premiums.
• Develop a network of (re)Insurer underwriters relevant to the business being traded within CMF
• Develop own technical (re)insurance knowledge and capabilities

What you need to have: 

• Ideally 2-3 years experience working as an Insurance or Reinsurance broker or in a Client Executive or supporting functions but this is not a requirement
• Desire to develop career to understand the Reinsurance industry and how this can add value to both the Reinsured as well as Marsh Clients
• Good social and network building skills
• Organized and methodical approach to work. Able to work well under pressure.
• Problem solving approach and willing to work independently. Reaching out for support when needed or to check that the approach being taken is appropriate.
• Willingness and ability to work remotely from the rest of the CMF team
• Preferably located in Stockholm or Copenhagen.

Education

• Ideally already achieved Broker License
• Bachelors Degree or higher appreciated but not required.

Marsh, a business of Marsh McLennan (NYSE: MMC), is the world’s top insurance broker and risk advisor. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $24 billion and more than 90,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit marsh.com, or follow on LinkedIn and X.

Marsh McLennan is committed to creating a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age, background, disability, ethnic origin, family duties, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, or any other characteristic protected by applicable law.

Marsh McLennan is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh McLennan colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.