Early Careers: Risk/Reinsurance Broking

Aon

Nov 20, 2023

Applications are closed

Job
Full-time
Entry Level
Banking & Finance
Chicago, +5

Requirements

We’re looking for collaborators, critical thinkers, problem solvers, excellent teammates, effective communicators, relationship builders and future leaders.
We strive to recruit a diverse group of hardworking individuals who offer varying experiences, backgrounds and strengths to ensure we can continue to offer the most innovative solutions. Additionally, we take into consideration the following:
Ability to communicate effectively, both orally and in writing
Excellent analytical and problem-solving skills; able to identify problems and solutions
Strong interpersonal skills and ability to work effectively in a team environment
Strong research, analytical and critical thinking skills
Strong computer skills, including: Microsoft Office Suite, specifically Excel spreadsheets, Word processing, PowerPoint, e-mail and internet tools
Education: Bachelor’s degree in: Business, Finance, Economics, Statistics, Mathematics, Risk Management, Insurance, Political Science or a related degree preferred, but open to other majors.
Applicants for this role should graduate between Spring 2023 to Spring 2024 and have a GPA of 3.0 or above.

Responsibilities

Risk Solutions:
Our Risk Solutions group assesses the risk a company has or could have and mitigates it through the placement of various insurance products and policies. They help clients achieve profit, growth, and continuity by delivering the best tailored and innovative risk solutions.
Associate Account Executive (AAE) and Associate Brokers work together to serve clients. Both roles are assigned to specific clients and participate on account teams; the AAE primarily works on daily client management and coordinates internal processes between Aon’s service center, the brokerage team and account management team. In contrast, Associate Brokers primarily interact with insurance carriers and their intermediaries, negotiate and place insurance policies on behalf of our clients. Depending on which role you are hired into, some of your responsibilities may include:
Associate Account Executives:
Maintain effective and productive client relationship; manage client open items lists and respond to client requests
Gather and analyze exposure data, loss history, and standard and unique coverage needs for submissions with the Brokerage Unit
Capture and analyze data and draft assigned elements of client service plans, stewardship reports and other presentations tailored to the needs of the audience and the circumstances of the presentation
Actively support and supervise the renewal process, draft quote comparisons and follow up for binders, policies and endorsements
Receive and lead routine and sophisticated coverage inquiries and endorsement requests. Serve as a key client liaison for items such as certificates, auto IDs, location additions, invoices, Worker's Compensation posting notices, allocations, premium finance agreements, summaries of insurance, and policy transmittals
Associate Brokers:
Build and maintain effective working relationships with external client contacts and internal Aon clients, in addition to developing thorough knowledge of the private and nonprofit management liability insurance marketplace, products and services, developing productive business relationships with key insurance underwriters
Facilitate the compilation of submission information
Provide broking status and continuous support and service to clients during entire broking process and period of engagement
Learn and understand all elements of client presentations, developing technical writing skills, verbal presentation and negotiation skills
Responsible for all aspects of client service for assigned book of business including billing, policy collection, reviewal and transmittal in accordance with established departmental service standards
Establish basic understanding of claims administration process
Drive utilization of all available technology throughout broking process and client service process.
Replicate effective products/solutions and develop broking opportunities
Reinsurance: Account Representatives (Brokers)
Unprecedented volatility is creating new risks and opportunities for organizations across the global economy. We provide risk transfer, claims advocacy and capital management solutions to help our clients reduce volatility and build more resilient businesses, governments and communities.
Account Representative colleagues help clients understand, manage and transfer risk through creative solutions. The role is immediately client-facing, offering exposure to high-level executives and decision-makers. Representatives work on multiple accounts as part of a larger broker team, which requires strong communication and collaboration skills. Account Representatives will develop comprehensive reinsurance market and industry knowledge while working on a variety of lines of business. Over time, colleagues will have increasing opportunities for domestic and international travel to client and reinsurer meetings and to take on expanded roles in developing strategic and innovative solutions for clients.
Job Responsibilities:
Support broking teams in servicing reinsurance clients, including developing innovative solutions, leading consulting projects, and providing strategic advice to address client needs
Participate in reinsurer meetings and discussions regarding client program placements
Prepare formal reinsurance submission materials and executive-facing presentations
Assist in the technical analysis of client information
Collaborate with various supporting teams within our Reinsurance Solutions such as catastrophe modeling, treaty, actuarial and contract wording
Inpoint Strategic Engagement:
Aon Inpoint Strategic Engagement provides advisory services and strategic implementation support to our clients, which include many of the most prestigious insurance companies in the Global Property, Casualty and Health & Benefit re/insurance market. Inpoint SE focuses on advising re/insurers and capital partners to generate tangible results by helping them identify opportunities and improve business performance. Through a consultative approach, we advise re/insurers and capital partners on how to navigate a fluid market environment. We leverage strong analytical abilities to drive profitable, sustainable growth and improve business performance.
Business Development Specialist:
A Business Development Specialist is central to supporting growth initiatives for the Greater New York Region. We work closely with sales colleagues and account management teams and support growth strategy, and CRM usage. We prepare formal reports and provide insights to local leadership.

Aon

Aon is in the business of better decisions

Consulting

Industry

10,001+

Employees

1940

Founded Year

Mission & Purpose

Aon is a global professional services firm that specializes in risk management, insurance brokerage, and human resources solutions. They offer a wide range of services including risk assessment, insurance brokerage, retirement and health solutions, and data analytics. Aon's ultimate mission is to empower clients to manage risk effectively, optimise their resources, and make informed decisions that drive business growth and resilience. Their purpose is to help clients navigate the complexities of risk and talent management, providing innovative solutions and insights that enable organisations to mitigate risks, protect assets, attract and retain talent, and enhance overall operational performance. Aon aims to be a trusted advisor, offering customised solutions that address the unique challenges of their clients across industries, ensuring they are well-prepared and positioned for success in a rapidly changing world.