We know how companies can unlock potential through effective risk management. Our clients rely on us to craft strategies to quantify, mitigate and transfer risk, taking advantage of our specialist industry experience and unparalleled market know-how. The result is a new way of embracing risk that drives superior results.
Working with the guidance and direction of the Senior Broker, the Associate Broker oversees day-to-day Casualty placement and broking responsibilities for North American accounts, including new business development; develops business relationships with retail producers and markets; negotiates with underwriters regarding coverage terms, conditions and pricing on new and existing programs; evaluates quotes, prepares marketing reports for distribution, assists regional teams with RFP and new business proposal development, and performs other duties as assigned.
Note: Employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity.
The Role
The Associate Broker is recognized by the client, client advocate team and the insurance marketplace as the colleague who provides critical support to the team, and is responsible for preparing and submitting business to our carrier partners, following-up for quotes, and for providing analytics for key accounts. In this position, you will research market solutions to learn how to identify and develop optimum risk solutions for clients, and execute straightforward new business placements, renewals and simple alterations of existing cover, with guidance.
Major Accountabilities:
- Provide critical support to the broking team that manages brokerage responsibilities for a book of new and recurring annual policies
- Run and interpret analytical models
- Participate in broking communication efforts by email, telephone, and written correspondence with underwriters and colleagues
- Assist with or lead front-end sales/RFP efforts
- Obtain and distribute information from client and/or producing office
- Evaluate and develop coverage information for review
- Prepare draft submission documents and finalize submissions for delivery
- Review quotes against specifications and develop side-by side comparisons
- Prepare program proposals
- Review binders for accuracy and completeness against quotes and complete file reviews
- Develop and maintain business relationships with sales and broking colleagues and carrier underwriting contacts
- Maintain knowledge of insurance industry market intelligence and carrier appetites
- Participate in continuing education to maintain license and industry credentials
- Record and maintain all information accurately on the appropriate systems
- Ensure that quality and compliance procedures and processes are adhered to
The Requirements
- Insurance broker’s P&C license will be required. Can be obtained within 90 days post hire.
- High School Diploma required; Bachelor’s Degree preferred
- 2-4 years industry experience preferred
- Attention to detail and process orientation
- Exposure to Excel formulas and spreadsheet creation/manipulation required
- Demonstrated knowledge of core insurance principles & the ability to provide an explanation to clients
- Demonstrated competence in negotiation skills
- Demonstrated ability in conflict resolution
- Demonstrated client service focus
- Understanding of required placement workflows
- Self-starter/requires minimal supervision
- Will seek guidance when needed
- Solid presentation skills - written or oral
- Ability to deal with challenging client situations
- Demonstrated knowledge of insurance program structures
This position will remain posted for a minimum of three business days from the date posted or until sufficient/appropriate candidate slate has been identified.
Compensation and Benefits
Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).
Compensation
The base salary compensation range being offered for this role is $50,000.00-$75,000.00 USD annually.
This role is also eligible for an annual short-term incentive bonus.
Company Benefits
WTW provides a competitive benefit package which includes the following (eligibility requirements apply):
- Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
- Leave Benefits: Paid Holidays, Annual Paid Time Off (includes state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), Paid Time Off (only included for Washington roles)
- Retirement Benefits: Qualified contributory pension plan (if eligible) and 401(k) plan with annual nonelective company contribution. Non-qualified retirement plans available to senior level colleagues who satisfy the plans’ eligibility requirements.
Pursuant to the San Francisco Fair Chance Ordinance and Los Angeles County Fair Chance Ordinance for Employers, we will consider for employment qualified applicants with arrest and conviction records.
At WTW, we trust you to know your work and the people, tools and environment you need to be successful. The majority of our colleagues work in a ”hybrid” style, with a mix of remote, in-person and in-office interactions dependent on the needs of the team, role and clients. Our flexibility is rooted in trust and “hybrid” is not a one-size-fits-all solution.
We understand flexibility is key to supporting an inclusive and diverse workforce and so we encourage requests for all types of flexible working as well as location-based arrangements. Please speak to your recruiter to discuss more.
EOE, including disability/vets
