Property & Casualty Broker

2 weeks ago


Toronto, Ontario, Canada WTW Full time

A Broker manages day-to-day servicing of accounts, including renewals; develops business relationships with producers, clients and markets; negotiates with underwriters regarding coverage terms, conditions and pricing on new and renewal accounts; engages directly with clients and prepares renewal strategies, insurance proposals; maintains the diary system; verifies accuracy of insurance documentation; arranges for supporting WTW colleagues to handle administrative elements of client needs, focuses only on commercial accounts.

License required (within 90 days of start date).

Note:
Employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity.

The Role:

  • Project manage M&A Due Diligence needs including review, design and placement of insurance programs to facilitate deal closure
  • Support WTW's Industry Vertical reorganization with future goal of becoming a Life Sciences Broker
  • Build strong partnerships with a broad range of organizations and stakeholders in the market in order to secure optimum terms and conditions for clients
  • Engage with clients to advocate on their behalf understanding their needs, wants and expectations. This includes servicing to oversee the renewal cycle in accordance with WTW Excellence (Engagement 365) and midterm servicing
  • Develop broking and marketing strategy for renewal and new placements
  • Assist with performing policy contract reviews
  • Prepare renewal strategy documents, proposals, submissions and quote proposals through Broking Platform as required
  • Gather information and data analytics to assess and evaluate client risks in order to support the placement of client risks into the market
  • Research and evaluate all solutions (insurance and otherwise) to identify and develop optimum risk solutions for clients. Utilize and leverage any insurer "Panels" that are available to WTW Canada similar to aggregate play in the US.
  • Research and answer questions from underwriters and clients
  • Follow up with insurance carriers and underwriters regarding the status of quotes and provides any additional information or rates as necessary
  • Maintain insurance records for accounts including compiling, calculating and managing information
  • Prepare and update insurance summaries as required
  • Review insurance binders/policies for accuracy and completeness and prep coverage confirmation
  • Maintain knowledge of insurance carriers and market trends
  • Participate in continuing education to maintain licensure
  • Support WTW producers in pursuing and closing new business opportunities
  • Be a "Gatekeeper" for all new Select/MM business, to ensure it is within WTW's target criteria.
  • Work with assigned Client Managers to ensure they invoice, transmit policies and handle certificates of insurance. Some escalations on COIs may require assistance of the Broker.
  • Work with WTW Claims to report new losses and ensure proper resources are assigned.

The Requirements:

Education and Experience:

  • Preferably 1 to 3 years industry (or other relevant) experience
  • Insurance broker's Property & Casualty (P&C) license required within 90 days

Knowledge, Skills and Abilities:

  • Strong group presentation skills (written and verbal); ability to drive complex/technical conversations.
  • Relationship management: Customer focus, collaboration and interpersonal skills and conflict management. Demonstrates shared ownership of resolution of conflicts.
  • Negotiation skills: Insurer and client negotiation skills. Can secure concessions without damaging relationships.
  • Business acumen: demonstrates knowledge of industries and clients, carriers and/or markets.
  • Project Management: ability to effectively manage and oversee a range of projects.
  • Receptive to feedback; critical thinking and problemsolving skills; high adaptability.
  • Leadership skills: applies judgement in making decisions, directs and motivates others, takes lead in small groups and promotes teamwork.
  • Technical skills: ability to review and understand coverage forms and answer coverage questions. Ability to review insurance specification of contracts; ability to run analytics models.
  • Knowledge of endtoend insurance process, including process owners and rationale/purpose of key steps.
  • Technology acumen ability to utilize technologybased record management systems; basic MS Office skills and familiarity with other relevant online tools.
  • Ability to work with Data Analytical champion to introduce analytics and be able to effectively communicate the value of analytical models and results for evaluating clients' risks (if required)
  • Transactional oriented; ability to work on multiple placements at once
  • Must demonstrate core competency of WTW Values & Vision
  • Selfstarter/requires mínimal supervision (outside of training/mentoring programs), ability to execute assigned tasks in timely fashion
  • Seek guidance when needed and be receptive to feedback
  • Ab

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