Commercial Broker Support at Indwe Risk Services

PURPOSE

To provide technical broking skills and support to the small and independent brokers.  Responsible for managing, training and assisting IISS staff with structuring, negotiating terms and conditions, and policy administration of IISS independent brokers – including but not limited to book take-on’s, migrations, insurer engagements, new business, conversions, renewals and FNOL’s. To ensure all accounts are serviced in accordance with IISS Standards

CONTEXT

(External/ Internal factors which influence the work environment, taking into account future conditions and strategic requirements.)

• Financial Services Sector
• South African Regulatory framework of insurance / brokerage industry
• Competitive environment
• Customer Focus
• Service Excellence
• Target driven environment

CUSTOMERS

(Customers to whom the service is rendered / impacted upon.)

• Independent Brokers
• Suppliers (Insurers & UMA’s)
• Internal customers: Indwe divisions and departments

MINIMUM REQUIREMENTS

EDUCATION

• Matric
•  Level 4 FETC Short-term Insurance Qualification
• Higher Certificate in Insurance 
• Post matric qualification is an advantage (BComm Risk/Accounting, BBA)
• RE 5 qualification

EXPERIENCE

• Commercial broker with some underwriting knowledge
• Minimum 7 years short term insurance with 7 of the 10 years in a commercial account servicing role, claims and underwriting capacity
• Experience in customer and Internal staff liaison; building and maintaining relationships
• Experience working in a Brokerage is preferred
• Team leader with innovation and drive
• Re-engineering processes to address efficiency
• Sound knowledge in all classes of commercial insurances, especially material damage, business interruption, broadform liability and commercial crime classes

SKILLS

• Computer Literacy
• Planning & organising
• Decision making
• Time management
• Negotiation 
• Problem solving
• Communication skills
• Report Writing
• Presentation
• Accuracy

KNOWLEDGE

• Insurance knowledge to at least an intermediate level
•  Ability to negotiate and place a medium to large commercial account
• Legal requirements of the insurance industry
• Claims knowledge

PERSONAL ATTRIBUTES

• Customer service orientation
• Attention to detail
• Deadline oriented
• Flexibility
• Self starter
• Ability to work as part of a team
• Enthusiastic
• Committed
• Can work independently
• Ability to handle pressure
• Brand ambassadorship

KEY PERFORMANCE AREAS

Key Performance Outputs

Broker Support

Create strong Value Proposition for broker partnership:

• Design and implement Service Level Agreement with Broker
• Provide broker with technical support on product structuring and available markets
• Promote and quote bespoke products to supporting brokers
• Negotiate favorable terms and conditions with underwriters in most cases
• Build trust and relationship with each supporting broker
• Recommend upskilling for staff via The Indwe Learning Academy
• Ensure policy migration to Acuideas platforms from each signed up broker
• Share and explain regulatory changes with brokers
• Draw up technical news letters on emerging risks and solutions

QUOTATIONS

Manage and assisting Broker Administrators with

• Obtain full details regarding client risk required to quote
• Request quotes from insurers and negotiate best terms and conditions
• Quotes must be submitted to independent brokers within SLA time-frames
• Design, implement and monitor Servicing standard

TECHNICAL BROKING & ADMINISTRATION

Manage and assist Broker Administrators with

• Obtain quotes and negotiate with selected markets
• Upon acceptance of quote, ensure receipt of signed proposal instruction and debit order forms (where applicable)
• Send closing instruction to insurer to provide cover for clients of independent brokers
• Send the Confirmation of cover form to the independent broker
• Load policy information onto the system and create client file.
• Issue invoices on policies (new polices, cash clients etc)
• Ensure that independent brokers receive policy documents and wording.
• Ensure adherence to underwriting guidelines.
• Ensure receipt of premium payments and allocation to correct account
• Update register in terms of instructions received and actioned (underwriting & claims)

1. Endorsements on existing client files and mailing to independent brokers
2. Auditing/reporting of premium list for unpaid premiums

• Compile and submit reports timeously to commercial underwriter/product owner as per set standard
• Ensure data integrity on all systems 
• Attend to general correspondence and e-mails to independent brokers according to company standards
• Adhere to all declarations and other company policy adjustments when required.
• Manage all day to day i-Assist activities
• Attend to all client queries (revision/ renewals, rate negotiations with insurers, amendments, cancellations, unpaid premiums)
• Attend to audit lists regarding information captured into the system
• Minimise cancellations through regular and pro-active dealings with brokers
• Assist clients with claims related problems and report all deviations to management where relevant
• Service Clients in accordance with the Indwe Minimum Commercial Service Standards

CLIENT SERVICE ADMINISTRATION

• Adhere to minimum FAIS requirements and set company procedures
• Ensure that policies and endorsements are loaded onto the system
• Ensure that claims are registered and follow-up until claim is finalized.
• Maintain renewal lists and ensure that renewal schedules are sent to brokers
• Responsible for proactive underwriting and profitability
• Business administration - new, amendments, additions, renewals
• Ensure all communication with the client is in accordance with FAIS minimum standards
• General correspondence and e-mails to clients according to company standards
• Compile and submit reports on time to line manager as per set standard
• Accurate and Prompt Partner registration and ensure that payments are made
• Manage coach and support direct reports
• Collaborate with all stakeholders in a professional manner
• Maximise income potential for Acuideas

PERFORM CREDIT CONTROL

• Advise relevant parties of unpaid items
• Ensure compliance with section 45 of the Short Term Insurance act (extension of credit)