FAQs
What is the primary role of a Facultative Reinsurance Broker?
The primary role is to act as a trusted advisor to insurance clients, managing client relationships, conducting risk assessments, negotiating reinsurance contracts, and providing claims support.
What qualifications are required for this position?
A bachelor's degree in business, finance, insurance, risk management, or a related field is required, along with a minimum of 5 years of experience in reinsurance brokerage, particularly with facultative placements.
Are professional certifications preferred for this job?
Yes, professional certifications such as CII, CPCU, or equivalent are preferred but not mandatory.
What skills are essential for a Facultative Reinsurance Broker?
Essential skills include strong analytical skills, excellent negotiation and communication abilities, detail-oriented organization, and proficiency with Microsoft Office and reinsurance software systems.
Is travel required for this role?
Yes, occasional travel may be required to attend client meetings, industry conferences, or reinsurer negotiations.
What is the company's stance on workplace flexibility?
The company is committed to promoting workplace flexibility when possible based on customer and company needs, and this role meets the criteria for flexible work.
What responsibilities are associated with client relationship management?
Responsibilities include understanding client needs, building long-term relationships, and conducting regular meetings to review and adjust reinsurance strategies.
How does a Facultative Reinsurance Broker contribute to claims support?
The broker assists in managing and facilitating claims, coordinating between the client, insurer, and reinsurer to ensure timely and accurate claims processing.
What will the compensation package look like for this role?
The compensation includes a competitive salary, performance-based bonus, and a benefits package.
Does this job require experience in specific lines of business?
Yes, strong knowledge of the insurance and reinsurance markets, including various lines of business such as property, casualty, and marine, is important.