We all know who insurance brokers are and what their job is. In fact, we communicate with them almost every day – they call us at home, at the office, and wherever telephone line can possibly be installed. They also adore to surprise us with SMS while we are in the gym or at a romantic dinner with our love. These ambitious people also love to send us e-mails or notifications on our social profiles. And they are the first ones who will warn us when our insurance policy is about to expire.
And what about reinsurance brokers, we don’t know much about them, do we? We don’t have so many opportunities to get in contact with them. In fact, you will hardly ever speak with one, unless he is a member of your family or if you are in insurance business. In short, reinsurance broker is a broker for an insurance broker! It’s a person whose job is to consult, advice or help their clients, mostly insurance companies, insurance agents and brokers, to protect and maintain their balance sheets. It is a very complex job which requires a lot of experience and skills. It’s not something that you can do without specific knowledge and license.
First of all, all reinsurance brokers must be able to provide the best solution in every possible situation and keep out their clients for potential troubles. Of course, these individuals must be able to analyze the portfolio of their clients and notify them as soon as they notice any trouble.
In general, if you are considering to become a reinsurance broker, you will have to choose between two options: you can start your career as a business developer or support. In the first case, your job will be to help your clients to place their assets in the best possible way, which means that you will have to be very efficient when it comes to risk calculations. Profit and investment safety of your clients would be your top priority.
On the other hand, if you decide to try your chances in the support section, then you will be responsible for technical, accounting and contract vetting kind of jobs.
Because of the complexity of this position, there are no strict limitations when it comes to formal education. This job covers a wide range of positions and professions, but the best candidates are people who graduated law, economy, finance, or accounting.