Job Title: Binder Technician
Overview:
The Binder Technician is responsible for the accurate preparation, processing and administration of binding authorities, lineslips and open market business. The role supports underwriting and broking teams by ensuring documentation, compliance and technical processes are handled efficiently and in line with market and regulatory requirements.
Key Responsibilities:
- Prepare binding authority, lineslip and open market MRCs, endorsements and associated documentation, primarily using LMA wordings and LMG guidelines
- Set up, manage and administer company and third-party binding authorities, including DCOM
- Support coverholder compliance processes using systems such as Atlas and Crystal+
- Liaise with clients, insurers, Lloyd’s DAT and internal stakeholders to ensure smooth processing of business
- Produce and process binding authority risk and premium bordereaux
- Submit documentation to Lloyd’s and company markets via Xchanging, including Accounting and Settlement and delinking where applicable
- Assist in resolving technical queries, working closely with clients, underwriters, Xchanging and other stakeholders
- Prepare Premium Advice Notes (LPANs), closings, closing endorsements and raise payment requests
- Run accounting reports, perform reconciliations and liaise with Finance and business units
- Maintain accurate records across systems, including workflow tracking and statistical data
- Input risk and transaction data into internal systems (e.g. Sector and IBS – training provided)
- Maintain complete and accurate technical files
- Engage with new systems and market processes as required
- Prepare management information and reports for internal and external stakeholders
- Support the handling of quotations, adjustments and renewals in line with company procedures
- Participate in team meetings and contribute to the development of the Technical function
- Undertake additional technical and administrative duties as required
Key Accountabilities:
- Deliver work accurately and within required timeframes
- Ensure compliance with company procedures and FCA requirements
- Effectively manage renewals, including documentation and associated accounting processes
- Maintain high standards of data accuracy across all systems
- Respond to queries promptly and professionally, managing stakeholder expectations
- Contribute to the efficient operation of the Technical Department
- Maintain ongoing professional development and meet CPD requirements
Skills & Experience:
- Previous experience in a technical, operations or support role within the (re)insurance market (binding authorities experience preferred)
- Working knowledge of Lloyd’s market processes and systems (e.g. Xchanging, Atlas, Crystal+)
- Strong attention to detail and accuracy
- Good organisational and time management skills
- Ability to manage multiple tasks and meet deadlines
- Strong communication and stakeholder management skills
- Proficiency in Microsoft Office and internal systems
