Senior Insurance Broker, Structured Credit and Political Risk

7 days ago

New York, New York, United States Marsh & McLennan Companies Full time
About the Role

We are seeking a highly skilled and experienced Senior Insurance Broker to join our team at Marsh & McLennan Companies. As a Senior Insurance Broker, you will be responsible for coordinating insurance placement solutions for clients, managing their accounts, and advising clients on placement and structuring strategies.

Key Responsibilities
  • Coordinate insurance placement solutions for clients, manage their accounts, and advise clients on placement and structuring strategies.
  • Ensure questions and issues are answered correctly and efficiently, advising on market trends to improve service delivery.
  • Resolve customer issues surrounding consulting, information, software services, solutions, and products.
  • Identify, develop, provide, and advise on specific solutions and product categories and related risk management, service requirements, broking plans, insurance product lines, and insurance carriers that will meet needs.
  • Maintain, cultivate, and nurture clients to identify needs, including emerging products and market conditions impacting coverage.
  • Serve as a lead advisory colleague on complex books of business.
  • Develop an understanding of business strategic priorities, risk strategies, and risk management needs and provide advice accordingly to successfully service clients.
  • Utilize risk expertise and knowledge of industry and insurance market place to review exposures and loss experience.
  • Execute renewal and placement strategies in conjunction with the Placement, Advisory Leader, and Client Executive and executes in accordance with client instructions.
  • Coordinate feedback from the market, advise client on best execution strategy, and structure insurance placement.
  • Keep abreast of changing market conditions and contribute to the firm's body of knowledge within product line through active internal communication.
  • Coordinate and execute policy placement for bank, financial institution, and corporate clients.
  • Negotiate terms with insurers.
  • Draft bespoke policy contracts and negotiate terms with insurance markets, calculate exposure, and premium schedules.
  • Handle policies using Salesforce.
  • Generate, coordinate, and deliver presentations to clients and insurers to facilitate relationship-building and product delivery/understanding.
  • Conduct annual stewardship presentations for clients, reviewing their deal flow, exposure, and loss profile, and collaborating with global colleagues.
  • Foster the development of junior colleagues via creation and delivery of presentations and training, to facilitate deepening of expertise across our entire practice.
  • Responsible for business development via fostering new relationships with Client Executives across the firm, as well as with external client prospects.
  • Explore new opportunities with existing clients to provide insurance solutions to support new asset classes within the clients business.
  • Attend conferences to network with potential new clients.
  • Seek and explore new business opportunities with prospective clients to drive new business growth.
  • Proactively engage with other Marsh business lines to develop cross-selling opportunities.
  • Act as a thought-leader on different asset classes of the business to help drive conversation internally with colleagues on how to develop strategy.
  • Responsible for key client relationships and serve as a focal point for any discussions and business strategy.
  • Minimize legal and regulatory risk.
Requirements
  • Must have a Bachelor's degree or foreign equivalent in any field plus five (5) years of progressively responsible postbaccalaureate experience in the position offered or a related position.
  • Must have five (5) years of experience with: Developing advisory solutions and strategies, both in relation to insurance accounts and the market in general; Experience across all stages of the insurance broking process including key elements such as risk analytics, marketing, policy placement, and business strategy development; Managing business critical relationships and developing new business; Working in the global insurance marketplace; Leading opportunity strategy formulation and working closely with account owners and/or Client Executives to help identify client/prospect business drivers and create the optimal insurance proposal strategy; Evaluating emerging risk and trends and their potential impact on the insurance industry; and Leading complex insurance brokerage services by facilitating strategy meetings, delegating tasks, writing persuasive content, and coordinating with internal stakeholders to ensure that high-quality responses are delivered to clients.

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