Location: London/ Hybrid
About the role:
As a Binding Authorities Technician, you will be responsible for creating and managing the full binding authorities process.
Key Responsibilities & Accountabilities:
- Create and prepare Binding Authorities, Lineslips and facilities with the assistance of the brokers
- Using the Lloyd’s Delegated Contract and Oversight Manager (D-COM) registration system and upload the information onto the Atlas database
- Submitting and signing Binding Authorities into Xchanging
- Prepare off-slips/certificates where required
- Invoice the off-slips/certificates where required
- Send out off-slips/certificates to clients where required
- Assist in the creation and maintenance of comprehensive client and broking documents including the facilities renewal statistics / information.
- Liaise with individual Syndicates Delegated Underwriting Team
- Liaise with internal & external stakeholders to deliver a consistently excellent & comprehensive service
- Assist with the development, analysis and maintenance of comprehensive data for the facilities
- Maintain up to date & accurate documentation, files, excel spread sheets relating to the particular facility
- Deal with incoming enquiries from Clients, Underwriters and third parties
- Collate monthly ‘Earned to Incurred’ statistics, ‘Aggregate reports’ and Premium Income ensuring Premium and Risk Bordereaux are sent to Underwriters where required within the time scale
- Signing such Premiums Bordereaux via Xchanging
- Handle any or all queries from Xchanging when signing such Premium Bordereaux
- Experience and understanding using the Lloyd’s Binding Authority QA tool
- Provide advice and assistance to brokers in the placement of the facilities
- Liaise with Accounts department and Business Units where required
- Ensure all KPIs are met
- Adhere to company and regulatory policies, procedures together with mandatory training requirements
- Adhere to financial reporting requirements including monthly phasing of income
- Maintain strong relationships with Clients and Underwriters
- Demonstrate commitment to continuous personal and professional development through active participation in development events
- Proven track record in handling binding authorities from cradle to grave, experience in working in the specifically Property and/or Casualty lines of business would be ideal
- Competent IT skills, including but not limited to Microsoft Word, Excel & PowerPoint would be ideal
- Ability to communicate effectively, both verbally & in writing, with internal & external stakeholders
- Detailed understanding of the process and procedures within the insurance market.
- Professional and personable
- Ability to think laterally and solve problems using own initiative
- Ability to work effectively within a team
- Strong prioritisation and organisational skills
- Self-motivated and able to work independently
- Basic technical knowledge of FCA regulations as they pertain to Binding Authorities and the Role a Lloyd’s broker plays in respect 3rd Party binders and in-house binders
- Knowledge of Eclipse/Sequel would be beneficial, but not essential
- Personally demonstrate the five company values and ensure that team members are aligned with these:
- Accountable
- Entrepreneurial
- Collaborative
- Empowering
- Disciplined