We are seeking a talented individual to join our Middle Office team at Marsh Malaysia. This role will be based in Kuala Lumpur Shared Services Operations Office. This is a hybrid role that has a requirement of working at least three days a week in the office.
Insurance Operations Specialist
To provide support to Client Executives and Brokers, facilitate placement of policies and deliver excellent client service for the businesses.
To contribute towards and meet internal targets in respect of:
Error reduction
Quality checking
Processing
We will count on you to:
1. Client On-Boarding
Arrange for new clients to be set up on our systems, monitor progress of on-boarding/due diligence of clients, intermediaries, and markets. Liaison with country business teams.
Assist CEs and brokers to set-up and manage the placement in the broking system.
File appropriate documentation (covering BOR, ToE etc.) in the broking system.
Assist country business teams with updating / monitoring of MPower.
2. Placement
Prepare quotes, contracts, agreements and bids. EOIs and LOUs (where requested) using our document templates and adapt these based on information received from our clients and input from the CE/ Broking teams.
Endorsement preparation to include Loss Payee, Adjustments and Profit Commissions.
Review the renewal reports prepared by the Pre-Renewal Team and identify any risks that are not required, 90 days ahead of the renewal date. Working with the CE to ensure that all documents are accurate and ready to proceed with the renewal (i.e. endorsements are included in the renewal contracts, where applicable and finer details).
Review of risks being renewed and checking to see that the relevant premium has been paid to insurers.
Support the placement of insurance contracts through specific digital platforms where necessary.
Ensure appropriate records of negotiations/communications with client and insurers is maintained within the broking system.
Where applicable, issuance of Confirmation letters.
Preparation of tax schedules where necessary.
Review and check all documentation for content accuracy in accordance with internal procedures, compliance standards and regulatory body guidelines.
3. Policy Servicing
Monitor and manage workflow, coordinate the flow of business into policy servicing teams.
Provide clear direction to Policy Servicing Teams through the Work Request Form (WRF).
Review and respond to queries emanating from operation teams and manage these to close in a timely manner.
Ensure timely authorization of documentation, and distribution to markets/client - debit notes, invoices and evidence of cover.
Develop and sustain supportive and productive working relationship with both CE/Broker and policy servicing teams.
Where required, assist with Fiduciary related queries (funds not received, funds received not paid to insurers).
Query resolution between policy servicing teams and Middle Office.
Where required, liaison with Insurers and Clients.
What you need to have:
Bachelor’s degree in business, Insurance, Risk Management, or a related field preferred.
Minimum of 2-3 years’ of experience in insurance operations is required.
Proficient communication skills in English and Cantonese are essential to support the Hong Kong market. The ability to read and/or write Chinese would be advantage.
Strong proficiency in Microsoft Excel, PowerPoint and other Microsoft Office applications
Excellent organisational skills with strong attention to detail.
What makes you stand out?
Experience in general insurance, insurance broking, insurance operations or financial services would be advantageous but is not mandatory.
Experience working in a multinational or regional shared services environment.
Familiarity with insurance placement processes and broking documentation.
Strong stakeholder management skills and confidence working with regional teams.
High level of responsibility, reliability and attention to detail.
Why join our team:
We help you be your best through professional development opportunities, interesting work and supportive leaders.
We foster a vibrant and inclusive culture where you can work with talented colleagues to create new solutions and have impact for colleagues, clients and communities.
Our scale enables us to provide a range of career opportunities, as well as benefits and rewards to enhance your well-being.