Professional Liability Broking Leader, Construction
Location: New York, New York
Job Type: Full time
Who We Are:
We’re NFP, a six-time Best Places to Work award winner in Business Insurance for 2017-2022. We are also recognized as an Elite Agency award winner named as a Top Employee Benefits Firm. We are a leading Insurance Broker and Consultant that provides Employee Benefits, Property & Casualty, and Retirement and Individual Private Client solutions to help our clients reach and realize their goals because we believe business is personal. Our personal commitment to our team and our clients have created long-lasting and successful relationships across our growing 300+ nationwide offices and 17 international locations. To learn more, please visit: https://www.nfp.com.
NFP’s North American Construction & Infrastructure Group is seeking candidates for the role of Construction Professional Liability Broking Leader with proven broking expertise working with contractors, design firms and owners on construction professional liability exposures and coverage. The candidate will be responsible for technical and contractual exposure analysis, insurance product development and customization, broking strategies and market negotiations surrounding construction professional coverage. The candidate is also expected to help drive construction professional liability broking strategies in consultation with the CBO and lead insurance market engagement on assigned transactions or guide broking strategy on a directed basis through account management colleagues.
Location flexible for the right candidate.
Essential Duties and Responsibilities:
- Serve as a key stakeholder of the North American Construction & Infrastructure Group through client risk consultation, risk mitigation, and coverage design and delivery
- Must draw on experience and understanding of construction professional liability disputes and litigation and other legal processes to educate and advise clients (in consultation with claims colleagues)
- Support the client and market facing professionals in the practice on individual medium to large sized accounts ranging in complexity.
- Use your risk expertise and knowledge of industry and the insurance marketplace to translate client’s exposures and loss scenarios into effective insurance coverage
- Develop and execute placement strategies around coverage and products in conjunction with market and account management colleagues.
- Lead and assist market and client facing colleagues in negotiating and evaluating coverage amendments from carriers and presenting the evaluations to clients.
- Manage relationships with internal colleagues and external clients and insurance contacts
- Identify the need for new products and develop/suggest innovative solutions to leadership team.
- Demonstrate the highest level of integrity, ethical behavior, and professionalism; leads by example
- Define success and direct team broking activity to achieve the optimal outcomes for clients/prospects; ensure a go-to-market strategy is in place for each broking engagement on a direct to market placement or on the basis of overseeing broking activities executed by the account team.
- Accountable for achieving portfolio and team KPI’s including growth, retention, and margin objectives. Drive and support prospect sales efforts, expand existing client relationships throughcross-sell and up-sell initiatives, ensure distinctive client value is delivered through all placement and facets of service engagement
- Cultivate strong, productive, trustful, and resilient multi-level relationships with carrier and wholesale partners and NFP local office teams
- Demonstrate exceptional negotiation skills – possess an awareness of different personality types and ability to adjust approach to effectively drive the optimal outcome; capable of interacting with all audiences within client, carrier, wholesale, vendor, and specialty organizations; effectively lead team members in difficult scenarios and collaborates effectively with other leaders
- Working knowledge of client needs across the portfolio and the effective deployment of client-facing resources and technology to successfully impact the client’s service experience, solidifying our position as an industry-leading broker
- Ensure team members are executing on NFP’s broking strategies, including strategic carriers, panels, and preferred wholesaler utilization
- Provide leadership oversight and ensure the accuracy of client and policy information in NFP’s Epic agency management system
- Ensure the team effectively introduces and deploys data and analytics to provide meaningful program insight for clients and the broking team
- Develop and ensure the deployment of differentiated client services through a thoughtful and sound execution of the client stewardship process that enhances the quality of client relationships
- Ensure new technological resources are showcased and appropriately introduced to defined customers
- Effectively set expectations and ensure the execution of client engagement and stewardship across the portfolio that supports client institutionalization, while ensuring that internal service teams and carrier partners engage in a manner that reinforces a value-based relationship
- Engage Subject Matter Experts to support client business development and retention
- Support the recruitment and acquisition of talent that aligns with current and future organizational requirements; support the development of high-potential talent utilizing annual development planning, providing challenging assignments, project work, mentoring, coaching, and exposure to a variety of individuals and teams
- Set challenging and achievable team and individual objectives. Demonstrate effective and motivational performance management techniques to develop the team; sets professional standards and core competencies, while ensuring the team is trained and supported to achieve and exceed those standards
- Effectively engage colleagues and provide objective performance feedback through interim and annual performance reviews.
- Actively drive the implementation and usage of new systems and processes that improve margin and efficiency
- Demonstrate active succession planning through market mapping and the movement of high-potential talent through the business
- Improve the diversity profile of the practice and focus on tangible actions to drive the Diversity & Inclusion mission in the business
- Ensure adherence to compliance requirements
- Accountable for the introduction, utilization, and deployment of customer-facing data and internal analytics; ensure the team utilization of analytics to differentiate and drive favorable market outcomes in the placement of new and renewal business
- Ensure team continues to develop and maintain thorough knowledge of insurance marketplace, products, and services
- Continual revisit, in conjunction with the Construction Chief Broking Officer (CBO), Standard Operating Procedures (SOP) and Key Performance Indicators (KPIs) with respect to construction professional liability brokering.
Knowledge, Skills, and/or Abilities:
- Significant business insight in operational management of developing and mentoring colleagues; proven track record of achieving KPIs
- Excellent leadership and portfolio management skills
- Excellent written and verbal communication skills
- Extensive understanding of broker operating fundamentals and financials
- Excellent negotiation skills – ability to adjust approach to effectivel