MGA Reinsurance Broker

Willis Towers Watson New York , NY 10007

Posted 4 months ago

MGA Reinsurance Broker

Willis Re currently has an opening for a MGA Reinsurance Broker position. The position operates in a fast paced, project oriented environment.

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

The Role

Build relationships with MGA's and key carriers in the program space to generate new business opportunities, increase Willis Re's presence in the program market and facilitate negotiation of Willis Re's program opportunities.

Develop and coordinate a team of MGA practice leaders across multiple Willis Re offices in order to execute on the strategy to develop MGA clients and increase revenue.

Actively coordinate North American program opportunities with the Willis Re Alternative

Distribution Operation (ADO) in London.

Build and maintain a database of program carriers which captures the following fields:

  • LOB appetite

  • Portfolio appetite (e.g. frequency, severity and catastrophic risk)

  • Volume guidelines

  • Contact names

  • Territories

  • Servicing preferences (e.g. claims handling and policy administration)

Build and maintain a database of MGA's which captures the following fields:

  • Active programs written and paper providers

  • Lines of business and geographies covered

  • Volume estimates

  • Contact names

  • Servicing capabilities (e.g. claims handling and policy administration)

Advise Willis Re's client advocates on counterparty options for each MGA opportunities, which could include the following functions:

  • Negotiation around contract terms, such as commission levels, profit sharing provisions and brokerage levels

  • Compliance issues associated with either the MGA or the potential counterparty

  • Placement options via the ADO team in London

Assist Willis Re clients (MGA and specialty carrier) that are assuming business through a carrier channel in business development, with the following products serving as example:

  • Deductible buy back protection for hurricane exposure

  • HO coverage for wildfire exposed risks

  • Mobile home, dwelling, second home, renters, RV, custom car and boat protection

  • Catastrophe exposure HO coverage

  • Work with Willis Re's clients and prospective clients to identify, inventory and find risk bearing counterparties for InsurTech entitie.

  • Develop compliance guidelines and a set of best practices for our MGA business segment.

The Requirements

  • Bachelor's degree (B. A.) from four-year College or university.

  • Minimum 10 years of work experience, preferably in Property and Casualty insurance or reinsurance or consulting.

  • Experience giving presentations to clients and internal groups.

  • Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.

  • Ability to write reports, business correspondence, and procedure manuals.

  • Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.

  • Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry.

  • Ability to apply concepts such as fractions, percentages, ratios, percentiles and proportions to practical situations.

  • Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.

  • Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

  • Frequent travel required.

Equal Opportunity Employer/Vet/Disability

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MGA Reinsurance Broker

Willis Towers Watson