Delegated Authority Business Partner
Do you have a knack for managing Binders and collaborating with stakeholders to achieve goals?
Are you passionate about crafting innovative solutions that make a difference?
Join us in this dynamic hybrid role where you can work either virtually or from our vibrant offices located in London, Chelmsford, or Redhill. Be part of a team that values creativity and flexibility!
Aon is in the business of better decisions
At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.
As an organization, we are united through trust as one inclusive team and we are passionate about helping our colleagues and clients succeed.
Background of Aon Underwriting Managers (AUM):
Aon Underwriting Managers is a Managing General Agency (MGA) business unit which underwrites risks on behalf of Lloyd's Syndicates and international insurance Companies. Headquartered in London it trades as Aon UK Ltd.'s coverholder providing client solutions worldwide across Aon's Commercial Risk distribution network and third-party distribution networks.
We have built a range of capabilities to help brokers deliver market leading products to their clients including;
- A centre of excellence for designing and managing Delegated Authority contracts, matching risk to carrier appetite.
- Expert underwriters and underwriting management in chosen classes of business.
- A highly scalable operational platform capable of dealing with large portfolio contracts such as Aon Client Treaty or specialised and niche products such as Intellectual Property Liability.
- Sophisticated data and analytics capabilities producing detailed client insights into portfolios, transactional data and market trends.
What the day will look like
- Drafting Delegated Authority Agreements and endorsements as required. Joint ownership of the Agreement templates ensuring they meet minimum requirements.
- Using knowledge and understanding of Lloyd’s requirements and processes to create innovative solutions for complex Agreement structures.
- Fostering strong links with Lloyd’s, Lloyd’s Insurance Company and the LMA on behalf of AUM and Aon.
- Being the Business lead on selected external innovation and development initiatives.
- Leading discussions with Delegated Authority teams in our capacity providers to ensure they are kept up to date with plans and changes in advance of renewals or during negotiation of changes and to understand their needs.
- Leading renewals for specific SPSs within AUM, working with the DA Programme Delivery Manager to ensure that progress is communicated to key stakeholders.
- Taking ownership of existing and new SPSs to manage the facility lifecycle
- Supporting Underwriting teams in articulating performance of SPSs to carriers.
- Challenging processes and procedures where they are ineffective and ensure all processes and procedures are in place for all key tasks, documented and followed
- Being responsible for following Governance and risk management steps for allocated SPS.
- Working with the Reporting, Operations, Claims and Fiduciary function teams to ensure that contractual obligations are met, by both time and quality measures (including but not limited to monthly reporting, premium payments and profit commissions).
- Liaising with the Lloyd’s Delegated Authority Department on Delegated Authority issues and market initiatives.
How this opportunity is different
As a DA Business Partner, you will collaborate with the Head of DA Solutions, your team, and other stakeholders to manage new and renewing Delegated Authorities in line with Aon's Product Oversight and Governance Framework.
- Process Excellence: Ensure all processes are well-documented and executed with key stakeholders.
- Carrier Relationships: Build strong relationships with Delegated Authority Teams at our capacity providers.
- Servicing and Maintenance of SPSs: Manage binders through the contract lifecycle, ensuring contractual obligations are met.
- Market Insights: Stay updated on Lloyd’s and London market changes, including template updates, regulatory requirements, and market trends.
Skills and experience that will lead to success
- A sound understanding of Delegated Authority and core insurance processes, including DA contract construction and purpose
- Thorough understanding of Lloyd’s requirements and processes as they apply to DA operations and ability to apply knowledge in creating innovative solutions
- Focus on external Client Servicing
- Problem solving
- Stakeholder management – strong interpersonal skills
- Good understanding of compliance and FCA regulation.
How we support our colleagues
In addition to our comprehensive benefits package, we encourage an inclusive workforce. Plus, our agile environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two “Global Wellbeing Days” each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions for our colleagues as well.
Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.
Aon values an innovative and inclusive workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.
Aon provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status.
We welcome applications from all and provide individuals with disabilities with reasonable adjustments to participate in the job application, interview process and to perform essential job functions once onboard. If you would like to learn more about the reasonable accommodations we provide, email ReasonableAccommodations@Aon.com
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