Broker

Broker

• 202604088

• Chicago, Illinois, United States

• Full time

Description

Corporate Risk & Broking
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

Broker oversees day-to-day placement and broking responsibilities for North American Construction 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.

Employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity.

The Role

The Broker is recognized by the client, client advocate team and the insurance marketplace as the day-to-day broker, negotiating terms and conditions of various Construction liability coverages on behalf of clients.

• Manages broking responsibilities for a book of new and recurring/annual policies as well as individual project placements. Primary focus on Construction Casualty insurance products for contractors, owner/developers, and design professionals
• May be required to place additional lines of coverage as applicable to client/account/project including Property, Builders Risk, Inland Marine etc.
• Leads broking communication efforts by e-mail, telephone, and written correspondence with underwriters and producers
• Obtains and distributes information from client and/or producing office
• Assists or may lead front end sales/RFP efforts
• Prepares/oversees creation of proposals, submissions and quotes
• Responsible for running and interpreting financial analytical models
• Evaluates and develops coverage confirmation for review
• Reviews binders for accuracy and completeness
• Maintain and develop business relationships with producers and senior underwriting contacts
• Maintains knowledge of insurance carriers and their business practice
• Participates in continuing education to maintain license and industry credentials

Qualifications

The Requirements

• Insurance broker’s P&C license will be required
• Risk Management/Insurance degree preferred
• 7-15 years of experience minimum
• Has in-depth knowledge of the design and construction industry, and construction based casualty liability insurance products
• Possesses casualty liability coverage expertise (GL/WC/Auto/Umb/Excess)
• Demonstrated knowledge of core insurance principles & can provide explanation to clients
• Demonstrated excellence in negotiation skills and influence skills are critical
• Demonstrated ability in conflict resolution and selling skills are a plus
• Attention to detail and process orientation
• Exposure to Excel formulas and spreadsheet creation/manipulation a plus
• Understanding of required placement workflows
• Self-starter/requires minimal supervision
• Will seek guidance when needed
• Solid presentation skills-written or oral

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 $150,000.00-$175,000.00 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