Motor Broker (London, UK)
Aon are currently recruiting a Motor Broker to join our Retail Broking team in London.
Headquartered in London, Aon Plc is the leading provider of risk management services, insurance and reinsurance brokerage and a global leader in human capital and management consulting. Our key advantage is our broad view of the insurance industry. With an employee base of 66,000 people working in 500 offices in more than 120 countries, we can anticipate how changes in one sector affect another.
Aon is an equal opportunities employer. Aon's recruitment and selection policy ensures the best possible skill mix of colleagues and the highest quality candidates are appointed using objective job-related criteria.
About the Role
Responsible for working in accordance with the Aon UK Limited Risk Management Framework, and compliance with the Aon UK Limited policies, including participation in the management of risks (including completion of mandatory training) that may adversely affect the business, interests or reputation of any Group Company.
- Lead the broking function.
2.1 Ensure that all broking activity is done in compliance with the UK Broking Strategy and procedures as agreed by the Chief Broking Officer, ARS UK, in particular the monitoring of all FCA regulated processes.
2.2 Ensure the broking team works well with client, market and other responsibilities properly apportioned and understood by all.
2.3 Negotiate the most appropriate terms for that client.
2.4 To be aware of the work of peers and colleagues in other Aon divisions, and to share idea best practice and all relevant information with them.
2.5 To be personally responsible for a small portfolio of high profile accounts requiring regular engagement with the risk manager and the design and broking of the programme in the market.
- Manage the trading and trading relationships with insurers.
3.1 In conjunction with the Chief Broking Officer, ARS UK, negotiate the trading aspects of business plans or agreements needed by or with insurers ensuring that they do not give rise to unsustainable expectations or conflicts of interest.
3.2 Understand key insurers' points of view regarding their relationship with Aon and help exploit opportunities or tackle problems.
3.3 Ensure relationships between National and Global and other Aon broking units is effective in delivering a high quality service to our clients.
3.4 Work with insurers to develop products and facilities for our clients.
- Analyse the insurance markets briefing colleagues as appropriate.
4.1 Ensure that client groups and other staff have all the relevant information on which to base their advice to clients.
4.2 Manage the expectations of colleagues and clients in terms of insurance market conditions.
4.3 Ensure that all relevant staff are kept up to date accordingly with general guidance on programme design.
4.4 Ensure that all client groups understand and communicate the value proposition of the broking function, such that they can negotiate appropriate fees from the clients.
- Improve the quality and efficiency of broking processes.
5.1 Develop and maintain a culture of continual improvement throughout the Broking function, and in partnership with Client Management and Client Service colleagues.
- Compliance with regulatory requirements and business procedures.
6.1 Promote all compliance related requirements throughout the Broking Team and identify opportunities for process
6.2 Take primary responsibility for ensuring staff awareness and conformances to all compliance related requirements.
6.3 Lead by example by ensuring own activity complies with regulatory requirements and business procedures.
As a Motor Broker your skills and qualifications will ideally include:
A thorough knowledge of commercial insurance market practices and dynamics – able to analyse competitors and spot new opportunities
Strong negotiating and influencing skills
Experience in managing and placing large motor risks.
The ability to work effectively in a matrix management environment where success often depends on influencing skill rather than direct control
An effective listener and a strong, consistent communicator
Behaviour that inspires the trust and respect of colleagues and of the insurance market
Committed to continuous improvement and to adopting new working practices to raise standards of quality and efficiency
Energetic and focused on producing the best deal for the client
ACII qualified or studying towards.
Salary and Benefits
This role offers a competitive salary and bonus, plus a comprehensive benefits package and 25 days holiday. Through our flexible benefits, you will also have the opportunity to choose additional benefits, including healthcare, childcare vouchers and additional holiday.