Role Purpose
The Placement Role focuses on managing the insurance policy placement process by assessing client needs, recommending suitable Non-EB products, negotiating with insurers, and ensuring optimal coverage solutions.
Key Expectations of the Role
Insurance Product Analysis and Selection:
- Assess clients risk profiles and insurance needs to determine the appropriate insurance products.
- Analyze various insurance products (Non-EB products) available in the market and recommend the most suitable ones for clients.
Negotiation and Terms Agreement:
- Negotiate policy terms, coverage, and premiums with insurance underwriters to ensure optimal terms for clients.
- Collaborate with insurers to negotiate policy conditions that meet clients requirements while adhering to compliance and regulations.
Policy Placement and Issuance:
- Facilitate the smooth placement and issuance of insurance policies for clients.
- Coordinate with internal departments to ensure accurate policy issuance and timely delivery to clients.
Client Engagement and Education:
- Engage with clients to provide updates on policy placements and ensure they understand the terms and conditions of their insurance coverage.
- Educate clients on policy features, benefits, and coverage details.
Market Research and Trends Monitoring:
- Stay updated on market trends, insurance products, and industry developments to offer informed recommendations to clients.
- Conduct market research to identify emerging insurance products and assess their suitability for clients.
Competencies Required for the Role
Insurance Industry Knowledge:
- Possesses a strong understanding of insurance products, policies, underwriting, and industry practices. Specifically Non-EB products.
- Stays informed about insurance market dynamics, regulations, and emerging trends.
Client Relationship Management:
- Builds and maintains strong relationships with clients, understanding their needs and delivering exceptional service.
- Listens to clients, provides appropriate advice, and addresses inquiries effectively.
Personal Qualifications
- Educational Background: A bachelor's degree in business, insurance, finance, or a related field is preferred.
- Experience: Prior experience in insurance placement (mainly in Non-EB products) , underwriting, or related roles within the insurance industry is advantageous.
