Associate Director II - Placements & Broking

The Company Overview

Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions.

Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Aon India Insurance Brokers Private Limited, licensed since 2017, is a composite insurance broker delivering insurance and reinsurance broking services to corporate clients in India.

Aon India has over 400 colleagues across nine locations in India.

Website: https://www.aon.com/apac/india/default.jsp

Role And Responsibilities

• This will be primarily an individual contributor role reporting to the Chief Broking Officer with no team management role envisaged (except where specifically communicated). The individual will however work closely with the client management teams, location and practice leaders to ensure smooth delivery of tender (govt/private) placements
• To lead and govern carrier strategy across health and commercial risk team, working closely with government businesses and Regional/Business Leaders to deliver and complete the placement strategy.
• Working collaboratively with client facing and sales colleagues to ensure coordinated approach/strategy, leading our efforts of carrier alignment with increased closures through this teamwork.
• Using placement data, market knowledge and benchmarking information, identify gaps in the market, and trends and opportunities, and build solution oriented product offerings to support business growth and client retention
• Define and clearly articulate an insurer engagement strategy including relationships at CXO/GM levels. Leverage existing Aon Non EB placement team relationships and work in close coordination for maximum realization of business placements.
• Interpret data and make recommendations on solutions that are consistent with the renewal/new business
• To be a leader in government business working together to deliver sustained financial performance in line with our agreed strategy, policy, objectives and targets.
• Ensuring the business operates to align with Aon India broking policies and to follow statutory and regulatory requirements including negotiations of rewards and NDA agreements.
• Expand revenue for Aon broking by working on pricing and rewards strategy with Carriers. Increase revenue by at least 10% and engage with carriers for increasing yield, rewards payout
• Liaise with insurers for bad debts/outstanding commissions and rewards. Work with internal Finance and HS team to manage revenue bookings and follow up on payouts/commissions from the insurers.
• Will need to independently develop and execute a carrier penetration strategy in line with the principles laid down for and by the government or other practice and ensure that the plan is executed in line with the same without deviation
• Will need to lead and conclude all legal documentation like NDA, Broker Services Agreement, SLAs, TOBA and enable / conclude all discussions with the respective legal teams including Aon legal and compliance teams.
• Will develop consulting expertise in the identified client industry/segment (if) allocated and identify and develop new business opportunities within that segment with other colleagues identified as part of the team.
• Will work closely with other colleagues supporting the client and ensure that all important updates on the product are circulated to all.
• Will take up and execute any specific projects relating to the development of the broking practice as allocated
  
  

Key Performance Indicators

• They will primarily be vested with the responsibility of managing the product line under their purview, be accountable for revenue and cross sell responsibilities
• Work along with the client services team to ensure that client satisfaction is maintained
  
  

Skills And Attitude

• Effective communication, presentation, consultative selling, advising, and negotiation skills
• Solid understanding of the insurance market and products across solution lines in India primarily for government and tender business
• A consulting mind-set, strong analytical skills, a competitive drive, be a team player and is collaborative
• Ability to manage and excel in ambiguous situations and be a quick learner
• Dynamic self- motivated team player with a track record
• Demonstrable Relationship Management skills
• Evidence of having continuously upgraded one’s knowledge base through seminar, training, reading etc. to ensure distinctive client value
  
  

Education: Post-Graduate, an IRDAI licentiate certificate.

Insurance Professional Qualifications Will Be An Added Advantage

Experience: 10-15 years

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