2018 Salary Guide - IDEX Consulting · Salary Guide INSURANCE EXPERTISE. 2018. Birmingham. The Colmore Building, 20 Colmore Circus. Queensway, Birmingham B4 6AT. t. 0333 700 4339

Salary GuideINSURANCE EXPERTISE

2018

BirminghamThe Colmore Building, 20 Colmore Circus Queensway, Birmingham B4 6ATt 0333 700 4339

LondonSt Clements House, 27-28 Clements Lane London EC4N 7AEt 0333 800 4339

www.idexconsulting.com

IDEX Consulting Ltd @IDEXConsulting IDEXConsulting

2018 Salary Guide - Insurance Expertise Welcome - Page 3

Welcome to the IDEX Insurance Expertise Salary Guide 2018. The guide has been created to assist Insurance professionals across the UK with their next career move and to support our valued clients with their growth strategy. Drawing upon the extensive knowledge and data available from our specialist Insurance team, this guide contains insight into the key recruitment and remuneration trends, from the past 12 months.2017 has been an incredibly busy year in the UK insurance market and 2018 looks set to continue to build on this success. Throughout the last 12 months, we have seen the “war for talent” increase as the supply of candidates has diminished further. Companies are now changing certain aspects of their employee’s role to keep their talent invigorated in their business. On a flip side to this we have seen a large number of opportunities available to these individuals, hence widening the skills gap even further. We have seen unprecedented growth in the

market, driven by the desire of foreign investors to gain a slice of the 4th largest insurance market in the world. This influx of overseas investment has triggered the creation of numerous new MGA’s, as well as providing financial backing for Broker growth and acquisition. The result of this has been a dramatic increase in the demand for talented insurance professionals within niche risk sectors, with Senior Management, Business Development and Technical Underwriting positions leading the charge.Looking forward to 2018, many of our clients and industry experts are predicting this pattern to continue and we are already starting to see an increase in the demand for specialist contractors to consult and advise on niche markets and fulfil short to medium term positions, within these new start-ups.All of this investment and growth is certainly providing a more exciting market for 2018 and beyond, but particularly when coupled with the changes in recruitment practices throughout 2017. IDEX has seen a huge increase in the number of businesses taking a more intelligent, strategic view when it comes to recruiting their key talent. Retained Solutions, providing a more bespoke search solution, has become the tool of choice with businesses seeking a more innovative and precise solution to finding the best individuals in the market. Whether you are looking to grow your team or looking for your next step in your career, I hope that you find this guide informative. If you do require any further insight or have any feedback on the guide, please contact me or one of my team of expert Consultants. David Carr BSc Econ (Hons) MRECManaging Director M 07943 851 382E [email protected]

ContentsIntroduction ............................................ 3City & Lloyd’s ..................................... 4 - 9Home Counties .............................. 10 - 13West Midlands ............................... 14 - 17East Midlands ................................ 18 - 21 South West .................................... 22 - 25 The North ....................................... 26 - 29CEO Commentary ................................ 30 Other sectors ........................................ 31

Page 2 - Contents

2018 Salary Guide - Insurance Expertise City & Lloyd’s - Page 5

It’s been an interesting year in the London market, with an influx of innovative new businesses and start-ups creating the headlines. This coupled with some significant Insurer losses has created an increase in activity across the market. The demand for top talent is still increasing with particular emphasis on niche skills across certain markets/sectors, individuals who are responsible for revenue generation or protection are in significant demand.”David Carr BSc Econ (Hons) MREC Managing Director

“City & Lloyd’s

Page 4 - City & Lloyd’s

JOB TITLE 1-3 years 4-8 years 9 years +

Commercial Broking

Insurance Administrator £18,000 - £23,000 £23,000 - £27,000 £30,000 +

Commercial Account Handler £22,000 - £27,000 £32,000 - £37,000 £50,000 +

Broker £22,000 - £27,000 £42,000 - £47,000 £70,000 +

Account Executive £27,000 - £32,000 £40,000 - £50,000 £70,000 +

Development Executive £30,000 - £35,000 £45,000 - £55,000 £75,000 +

Broking Manager £37,000 - £42,000 £57,000 - £62,000 £80,000 +

Broking Account Director £50,000 - £55,000 £75,000 - £85,000 £120,000 +

Regional Director £100,000 £125,000 £150,000

Personal Lines Broking

Insurance Administrator £18,000 - £20,000 £22,000 - £27,000 £30,000 +

Insurance Adviser £18,000 - £22,000 £32,000 - £37,000 £37,000 +

Insurance Sales £22,000 - £25,000 £42,000 - £47,000 £47,000 +

Team Manager £32,000 - £35,000 £40,000 - £50,000 £50,000 +

Underwriting

Underwriting Assistant £20,000 - £30,000 £30,000 - £36,000 £30,000 -£36,000

Assistant Underwriter £25,000 - £35,000 £35,000 - £40,000 £40,000 - £45,000

Underwriter £28,000 - £37,000 £37,000 - £65,000 £50,000 - £70,000

Senior Underwriter £40,000 - £80,000 £70,000 - £90,000 £70,000 - £90,000

Trading Underwriter £30,000 - £37,000 £37,000 - £60,000 £40,000 - £65,000

Development Underwriter £30,000 – £40,000 £40,000 - £70,000 £50,000 - £80,000

Underwriting Manager £40,000 - £90,000 £70,000 - £150,000 £70,000 - £150,000

One of the continuing trends in 2018 is the high demand for New Business and Producer candidates. 2018 has seen employers continue to create innovative reward packages to secure and retain top talent, in a market where counter offers are commonplace.Brokers and Underwriters who are attached to revenue also remain in high demand, particularly those who specialise within a niche product area.”

“


M&A activity remains high across the City, with increasing numbers of foreign investors moving into insurance, seeking strong returns from their capital.”

“



Claims

Claim Administrator £18,000 - £22,000 £22,000 - £30,000 £30,000 +

Claims Handler £20,000 - £25,000 £24,000 - £40,000 £40,000 +

Loss Adjuster £20,000 - £25,000 £25,000 - £45,000 £45,000 +

Claims Manager £50,000 - £60,000 £55,000 - £80,000 £75,000 +

Operations

Operations Manager £40,000 - £50,000 £50,000 - £70,000 £70,000 +

Operations Director £75,000 - £85,000 £75,000 - £100,000 £90,000 +

Project Manager - Lloyd’s market £40,000 - £50,000 £50,000 - £70,000 £70,000 +

Project Manager -

Company market £40,000 - £50,000 £50,000 - £70,000 £70,000 +

Risk and Compliance

Risk Manager £35,000 - £45,000 £45,000 - £55,000 £75,000 +

Risk Surveyor - General £35,000 - £45,000 £50,000 - £60,000 £65,000 +

Risk Surveyor - Specialist £45,000 - £55,000 £60,000 - £75,000 £85,000 +

Compliance Assistant £35,000 - £45,000 £45,000 - £50,000 £45,000 - £50,000

Compliance Manager £40,000 - £50,000 £50,000 - £60,000 £75,000 +

Risk Analyst £35,000 - £40,000 £40,000 - £50,000 £65,000 +

Compliance Director £100,000 - £110,000 £110,000 - £125,000 £150,000 +


Professions

Account Handler £25,000 - £35,000 £30,000 - £40,000 £40,000 - £50,000

Placing Brokers £30,000 - £37,000 £37,000 - £45,000 £45,000 - £80,000

Account Executive £30,000 - £40,000 £40,000 – £60,000 £60,000 - £80,000

Account Director £50,000 - £70,000 £50,000 - £70,000 £70,000 - £90,000

Head of… £60,000 - £80,000 £60,000 - £80,000 £150,000 +

Underwriting Assistant £20,000 - £30,000 £30,000 - £36,000 £30,000 - £36,000


Underwriter £28,000 - £40,000 £40,000 - £70,000 £50,000 - £70,000


Practice Leader £90,000 - £150,000 £90,000 - £150,000 £90,000 - £150,000

Tech/Cyber

Account Handler £25,000 - £35,000 £35,000 - £45,000 £45,000 - £50,000

Placing Broker £30,000 - £40,000 £40,000 - £50,000 £60,000 - £90,000

Account Executive £30,000 - £40,000 £40,000 - £70,000 £70,000 - £90,000


Head of… £60,000 - £100,000 £60,000 - £100,000 £120,000 - £200,000 +



Underwriter £30,000 - £40,000 £40,000 – £80,000 £50,000 - £70,000


Practice Leader £90,000 - £200,000 £90,000 - £200,000 £90,000 - £200,000

(Data compared to the same period in 2016)

IDEX saw an 11.6% in placements across the London City General Insurance market in the last 6 months of 2017.

11.6%


2017 has seen employers developing innovative remuneration packages in order to attract and retain the best individuals. These have included; flexible working environments, enhanced bonus schemes and fast-tracked career progression.”

“



Marine/Aviation

Account Handler £25,000 - £35,000 £30,000 - £45,000 £45,000 +

Placing Broker £25,000 - £35,000 £35,000 - £55,000 £55,000 +


Account Director £65,000 - £75,000 £75,000 + £100,000 +

Head of… £75,000 + £75,000 + £100,000 +

Underwriting Assistant £25,000 - £30,000 £30,000 - £35,000 £35,000 +

Assistant Underwriter £30,000 - £40,000 £40,000 - £60,000 £60,000 +

Underwriter £40,000 - £50,000 £50,000 - £75,000 £75,000 +

Reinsurance

Account Handler £25,000 - £35,000 £35,000 - £45,000 £45,000 +

Placing Broker £35,000 - £45,000 £45,000 - £65,000 £65,000 - £85,000





Underwriter £40,000 - £50,000 £60,000 - £70,000 £100,000 +

Senior Underwriter £80,000 - £90,000 £110,000 + £150,000 +

Practice Leader £110,000 - £130,000 £150,000 + £200,000 +


North America/ International Property

Account Handler £25,000 - £35,000 £35,000 - £45,000 £45,000 - £55,000

Placing Broker £30,000 - £45,000 £45,000 - £60,000 £80,000 - £100,000


Account Director £65,000 - £75,000 £80,000 - £100,000 £100,000 - £150,000 +

Head of… £100,000 - £200,000 £100,000 - £200,000 £100,000 - £200,000



Underwriter £30,000 - £40,000 £40,000 - £50,000 £50,000 - £65,000


Class Underwriter £80,000 - £200,000 £80,000 - £200,000 £80,000 - £200,000

GrowthIDEX have seen a significant increase in the number of new MGAs and start up Brokers coming into the City, driven by foreign investors and Venture Capitalists seeking to take advantage of favourable market conditions.

Home Counties - Page 11

Home Counties

Page 10 - Home Counties

M&A activity has of course been prevalent in the Home Counties this year, with the newer ‘consolidators’ and larger independent Brokers vying for the smaller independents, some of the most prominent being PIB, GRP, Aston Scott, Stackhouse Poland, Finch Group and Towergate/Ardonagh Group. Immediately post-acquisition, the trend is an inevitable period of internal due diligence, adjustment and ‘bedding in’ which is often coupled with a recruitment freeze. However in the latter part of the year we have seen many of these Brokers change tack into an expansion phase and the demand again has been for income producing candidates who can enhance growth.”Gemma Henderson Business Manager

“


Commercial Broking

Insurance Administrator £16,000 - £22,000 £22,000 - £25,000 £25,000 - £28,000 +

Commercial Account Handler £22,000 - £28,000 £28,000 - £40,000 £35,000 - £45,000 +

Broker £22,000 - £30,000 £30,000 - £40,000 £40,000 - £50,000 +

Account Executive £26,000 - £32,000 £32,000 - £50,000 £50,000 - £60,000 +

Development Executive £25,000 - £32,000 £32,000 - £45,000 £45,000 - £55,000 +

Broking Manager £30,000 - £40,000 £40,000 - £45,000 £45,000 - £60,000 +

Broking Account Director £50,000 - £60,000 £60,000 - £70,000 £60,000 - £70,000 +



Insurance Administrator £15,000 - £21,000 £21,000 - £24,000 £24,000 - £26,000 +

Insurance Adviser £16,000 - £21,000 £22,000 - £30,000 £30,000 - £32,000 +

Insurance Sales £16,000 - £22,000 £23,000 - £30,000 £30,000 - £35,000 +

Team Manager £22,000 - £25,000 £25,000 - £35,000 £35,000 - £40,000 +

Underwriting

Underwriting Assistant £16,000 - £26,000 £26,000 - £34,000 £26,000 -£34,000


Underwriter £25,000 - £35,000 £35,000 - £60,000 £40,000 - £60,000


Trading Underwriter £30,000 - £35,000 £32,000 - £50,000 £35,000 - £55,000

Development Underwriter £28,000 – £40,000 £40,000 - £70,000 £45,000 - £70,000


2018 Salary Guide - Insurance Expertise

A number of the major national Brokers also have the funds to push ahead with investment hires this year. As such, in a highly competitive market, we have really seen Brokers creating a stronger proposition and more inventive USP in order to attract the best talent. Salaries remain competitive, though always in line with revenue production capabilities. There is no sign of acquisitive and growth activity slowing, so we believe the fierce talent competition is set to continue in 2018 and beyond.”

“

2018 Salary Guide - Insurance Expertise Home Counties - Page 13Page 12 - Home Counties


Claims

Claim Adminstrator £18,000 - £22,000 £22,000 - £28,000 £28,000 +

Claims Handler £22,000 - £28,000 £25,000 - £35,000 £35,000 +

Loss Adjuster £22,000 - £28,000 £25,000 -£35,000 £35,000 +

Operations

Claims Manager £40,000 - £50,000 £50,000 - £60,000 £60,000 +

Assistant Operations Manager £40,000 - £50,000 £50,000 - £70,000 £70,000 +

Operations Manager £75,000 - £85,000 £75,000 - £100,000 £90,000 +

Operations Director £40,000 - £50,000 £50,000 - £70,000 £70,000 +

Project Manager -

Company market £40,000 - £50,000 £50,000 - £70,000 £70,000 +

Risk and Compliance

Risk Manager £30,000 - £40,000 £40,000 - £60,000 £60,000 - £80,000 +

Risk Surveyor - General £35,000 - £40,000 £40,000 - £50,000 £50,000 - £55,000 +

Risk Surveyor - Specialist £35,000 - £40,000 £40,000 - £50,000 £50,000 - £55,000 +


Compliance Manager £30,000 - £35,000 £35,000 - £45,000 £45,000 - £60,000 +

Auditor £24,000 - £27,000 £27,000 - £32,000 £32,000 - £35,000 +

Risk Analyst £23,000 - £25,000 £25,000 - £35,000 £35,000 - £45,000 +

Compliance Director £60,000 - £65,000 £65,000 - £75,000 £75,000 - £90,000 +

58.9% increase in Broking roles across the UK market

41.1% increase in Underwriting roles across the UK market

58.9%

41.1%

38.5% National Brokers

38.5% Regional Brokers

23% Independent Brokers

38.5%

38.5%

23%

Which Brokers have driven the growth in the Home Counties?

(based on volume of recruitment within IDEX)

West Midlands - Page 15

New Business Developers are seen as the most effective way of directly generating growth (excluding mergers and acquisitions) and also encouraging more of an office sales culture to show servicing Account Executives the way forward.”

“

West Midlands

Page 14 - West Midlands

In the West Midlands insurance Broking sector both Account Handlers and New Business Developers are in demand. The market has responded by increasing the salaries on offer to experienced and very technical Handlers, as Brokers appreciate the value to be added by such individuals. Client service enhancement, the freeing up of time for senior Account Executives and leadership team as well as the technical development of more junior employees being the most obvious wins.”Jeremy Warner Regional Manager

“


Broking - SME

Insurance Administrator £12,000 - £16,000 £16,000 - £22,000 £22,000 - £26,000

Telesales £15,000 - £18,000 £18,000 - £25,000 £25,000 - £30,000

Commercial Account Handler £16,000 - £24,000 £24,000 - £30,000 £30,000 - £40,000


Development Executive £25,000 - £32,000 £32,000 - £50,000 £80,000 +

Broking Manager £28,000 - £35,000 £35,000 - £45,000 £45,000 - £55,000

Broking Commercial/ Corporate


Telesales £15,000 - £18,000 £18,000 - £25,000 £25,000 - £35,000


Commercial Account Executive £28,000 - £35,000 £35,000 - £55,000 £55,000 - £75,000

Professional Indemnity Handler £20,000 - £26,000 £26,000 - £45,00 £45,000 - £50,000

Professional Indemnity Executive £30,000 - £40,000 £40,000 - £50,000 £50,000 -£75,000

Development Executive £28,000 - £35,000 £35,000 - £50,000 £50,000 - £85,000

Broking Manager £30,000 - £35,000 £35,000 - £55,000 £50,000 - £75,000

Regional Broking Manager £50,000 - £60,000 £60,000 - £70,000 £70,000 - £85,000

Regional Manager £70,000 - £95,000 £70,000 - £95,000 £70,000 - £95,000



12% Increase in placements in the region

Job split

53.5% Commercial Broking

12% Underwriting

20% Claims

2.7% Personal Lines

5.3% Management

6.5% Other

2018 Salary Guide - Insurance Expertise West Midlands - Page 17Page 16 - West Midlands




Insurance Sales £15,000 - £18,000 £18,000 - £23,000 £23,000 - £27,000

Team Manager £20,000 - £23,000 £23,000 - £25,000 £25,000 - £35,000

Personal Lines Underwriting

Motor Underwriter £16,000 - £20,000 £20,000 - £25,000 £25,000 - £40,000

Household £16,000 - £20,000 £20,000 - £25,000 £25,000 - £40,000

High Net Worth Underwriter £18,000 - £25,000 £25,000 - £40,000 £40,000 - £50,000

Underwriting

Underwriting Assistant/

Adminstrator £17,000 - £20,000 £20,000 - £25,000 £25,000 +


Underwriter/ Trading Underwriter £27,000 - £35,000 £35,000 - £50,000 £50,000 +

Development Underwriter/

Speciality Underwriter £45,000 - £50,000 £50,000 - £65,000 £65,000 +

Broking Development Manager £35,000 - £45,000 £45,000 - £65,000 £65,000 +

Underwriting Manager £40,000 - £60,000 £60,000 - £75,000 £75,000 +

Regional Manager £80,000 - £90,000 £90,000 - £110,000 £100,000 +

Head of Underwriting £100,000 - £120,000 £120,000 - £150,000 £150,000 +

Claims

Claims Handler £17,000 - £20,000 £20,000 - £25,000 £25,000 - £30,000

Loss Adjuster £20,000 - £25,000 £25,000 - £40,000 £40,000 - £60,000

Claims Manager £20,000 - £30,000 £30,000 - £40,000 £40,000 - £65,000

Operations Business Analysis £27,000 - £40,000 £40,000 - £60,000 £60,000 +

Marketing Manager £50,000 - £60,000 £60,000 - £70,000 £70,000 - £90,000

Assistant Operations Manager £30,000 - £35,000 £35,000 - £40,000 £40,000 - £45,000

Operations Manager £50,000 - £60,000 £60,000 - £70,000 £70,000 - £90,000

Operations Director £60,000 - £75,000 £75,000 - £85,000 £85,000 - £100,000

Office/ Branch Manager £80,000 - £90,000 £90,000 - £110,000 £100,000 +

Most desired qualifications:

Cert CII Dip CII

East Midlands - Page 19

The East and West Midlands markets have continued to merge with talented individuals choosing to travel further to secure the right opportunity. This has been driven by the growth of flexible working practices and companies desires to attract individuals who can help the organisation grow.”

“

East Midlands

Page 18 - East Midlands

In 2017, the East Midlands has seen a real upturn in vacancies for Insurance broking staff. Due to an array of Regional and Independent Brokers in Leicester, Derby and Nottingham experiencing positive growth this year, the demand for talent is on the rise... reigniting the competition for these individuals. Demand for Development Executives and other Sales professionals is as high as ever, while good, proficient Account Handlers are always sought after in the market.”Drew Crawford Senior Consultant, East Midlands

“


Broking - SME





Broking Manager £22,000 - £25,000 £25,000 - £35,000 £35,000 - £50,000



Commerical Account Handler £20,000 - £23,000 £23,000 - £27,000 £27,000 - £35,000

Professional Indemnity Handler £18,000 -£25,000 £25,000 - £30,000 £30,000 - £40,000


Professional Indemnity Executive £28,000 - £35,000 £35,000 - £45,000 £45,000 - £60,000


Broking Manager £30,000 - £35,000 £35,000 - £45,000 £45,000 - £60,000





In 2018, we expect to see demand for individuals continue to outstrip supply - driving an increase in remuneration for experienced staff, with forward-thinking firms seeking to develop and train their own talent from Graduate and Apprenticeship schemes.”

“

Page 20 - East Midlands




Insurance Sales £13,000 - £16,000 £16,000 - £19,000 £19,000 - £25,000

Team Manager £18,000 - £21,000 £21,000 - £23,000 £23,000 - £33,000


Motor Underwriting £16,000 - £20,000 £20,000 - £25,000 £25,000 - £40,000

Household Underwriter £16,000 - £20,000 £20,000 - £25,000 £25,000 - £40,000


Underwriting


Adminstrator £17,000 - £20,000 £20,000 - £25,000 £25,000 +









Commercial Underwriting



Underwriter £27,000 - £35,000 £35,000 - £45,000 £45,000 - £55,000

Development Underwriter £30,000 - £40,000 £40,000 - £50,000 £45,000 - £60,000


East Midlands - Page 21


Claims

Claims Handler £15,000 - £18,000 £18,000 - £23,000 £23,000 - £28,000

Loss Adjuster £18,000 - £23,000 £23,000 - £38,000 £38,000 - £58,000

Claims Manager £18,000 - £28,000 £28,000 - £38,000 £38,000 - £63,000

Operations

Business Analysis £27,000 - £40,000 £40,000 - £60,000 £60,000 +






Risk and Compliance

Risk Manager £40,000 - £45,000 £45,000 - £55,000 £55,000 - £75,000

Risk Surveyor - General £25,000 - £35,000 £35,000 - £45,000 £45,000 - £55,000

Risk Surveyor - Specialist £30,000 - £35,000 £35,000 - £50,000 £50,000 - £60,000


Compliance Manager £25,000 - £35,000 £35,000 - £45,000 £45,000 - £70,000

Health and Safety Consultant £30,000 - £35,000 £35,000 - £45,000 £45,000 - £50,000


21% National Brokers

28% Regional Brokers

35% Independent Brokers

16% Insurer

21%

28%

35%

16%

Which Brokers have driven the growth in the East Midlands?

(based on volume of recruitment within IDEX)

South West - Page 23

South West

Page 22 - South West

The South West market is extremely busy at present with many acquisitions and new players coming into the market, due to this there is an array of opportunity from entry level Administrators to Managing Director level roles. There is a real focus on growth in the broking market, so strong Account Executives are in real demand. On the Insurer side there is a again a focus on growth so Business Development Manager’s and Development Underwriters are always of interest.”Adam Burns Client Director

“


Broking - SME





Broking Manager £20,000 - £25,000 £25,000 - £35,000 £35,000 - £70,000

Broking Commercial Corporate


Commercial Account Handler £18,000 - £24,000 £24,000 - £30,000 £30,000 -£40,000




Professional Indemnity Executive £32,000 - £38,000 £38,000 - £50,000 £50,000 - £75,000


Broking Manager £25,000 - £30,000 £30,000 - £45,000 £45,000 - £60,000





The strong focus in the South West Broking market has seen a 16.1% increase in the number of jobs for client facing individuals.

16.1%

2018 Salary Guide - Insurance Expertise South West - Page 25Page 24 - South West



Insurance Sales £15,000 - £20,000 £20,000 - £30,000 £20,000 - £30,000

Team Manager £22,000 - £25,000 £25,000 - £30,000 £30,000 - £50,000





Underwriting



Underwriter £18,000 - £24,000 £24,000 - £35,000 £35,000 - £50,000

Development Underwriter £25,000 - £30,000 £30,000 - £45,000 £45,000 - £60,000


Broking Development Manager £25,000 - £30,000 £30,000 - £40,000 £40,000 - £80,000

Head of Underwriting £60,000 - £80,000 £70,000 -£90,000 £90,000 - £150,000

Claims

Claims Adminstrator £12,000 - £15,000 £15,000 - £18,000 £18,000 - £24,000

Claims Handler £15,000 - £22,000 £22,000 - £30,000 £30,000 - £50,000

Loss Adjuster £25,000 - £30,000 £30,000 - £35,000 £35,000 - £50,000

Loss Assessor £25,000 - £30,000 £30,000 - £35,000 £35,000 - £50,000

Claims Manager £25,000 - £30,000 £30,000 - £35,000 £35,000 - £60,000

Claims Director £60,000 - £70,000 £70,000 - £90,000 £90,000 - £150,000


Operations




Office/ Branch Manager £40,000 - £50,000 £50,000 - £55,000 £55,000 - £70,000

Risk and Compliance

Risk Manager £40,000 - £45,000 £45,000 - £55,000 £55,000 - £75,000



Commercial Assistant £22,000 - £25,000 £25,000 - £30,000 £30,000 - £35,000


Health and Safety Consultant £30,000 - £35,000 £35,000 - £45,000 £45,000 - £50,000

Increased Vacancies

in the South West has resulted in many Insurers boosting their staff numbers considerably.

Job Roles in the South West

30% Broking

10% Underwriting

12% Management

30% Claims

10% Personal Lines

8% Other

The North - Page 27

Expansions and re-organisations has created an interesting dynamic with the winners being those with long standing client relationships, who if not looked after will be offered opportunities by the competition.”

“

The North

Page 26 - The North

The Manchester market has been particularly dynamic as independent Brokers have strengthened their teams with the hire of both experienced and specialist staff from the larger nationals. Changes at some of the bigger Brokers and Insurers has seen some redundancies offering the opportunity for skilled professionals to be opportunistically snapped up.” Jeremy Warner Regional Manager

“


Broking - SME


Telesales £15,000 - £18,000 £18,000 - £25,000 £25,000 - £30,000




Broking Manager £28,000 - £35,000 £35,000 - £45,000 £45,000 - £55,000



Telesales £15,000 - £18,000 £18,000 - £25,000 £25,000 - £35,000


Commercial Account Executive £28,000 - £35,000 £35,000 - £55,000 £55,000 - £75,000


Professional Indemnity Executive £30,000 - £40,000 £40,000 - £50,000 £50,000 -£75,000


Broking Manager £30,000 - £35,000 £35,000 - £55,000 £50,000 - £75,000




2018 Salary Guide - Insurance Expertise The North - Page 29Page 28 - The North




Insurance Sales £15,000 - £18,000 £18,000 - £23,000 £23,000 - £27,000

Team Manager £20,000 - £23,000 £23,000 - £25,000 £25,000 - £35,000





Underwriting


Administrator £17,000 - £20,000 £20,000 - £25,000 £25,000 +









Claims

Claims Handler £15,000 - £19,000 £20,000 - £25,000 £25,000 - £30,000

Loss Adjuster £20,000 - £25,000 £25,000 - £40,000 £40,000 - £60,000

Claims Manager £20,000 - £30,000 £30,000 - £40,000 £40,000 - £65,000


Operations

Business Analysis £27,000 - £40,000 £40,000 - £60,000 £60,000 +






Risk and Compliance

Risk Manager £40,000 - £45,000 £45,000 - £55,000 £55,000 - £75,000





Health and Safety Consultant £30,000 - £35,000 £35,000 - £45,000 £45,000 - £50,000Brokers are continuing to expand their national presence to into the North of England.

The increase in New Business Executive roles across the North of the UK has continued during 2017 and is set to continue into 2018.

The talent shortage for Senior Sales Management and Leadership roles across the North of England and Scotland was still ongoing during 2017.

2018 Salary Guide - Insurance Expertise Other Sectors Guides - Page 31

Legal Expertise Guide IDEX Legal Expertise Salary has returned for its third year to assist Legal professionals across London and the Middle East in securing their next role or supporting our valued clients with their businesses growth plans. Drawing upon the extensive knowledge of our specialist Legal team, the 2018 guide contains insight for professionals at all levels for both private practice and in-house.

Financial Services Expertise Guide IDEX Consulting’s annual Salary Guide for Financial Services professionals has returned for 2018. Drawing upon the expertise of our specialist Financial Services team, this guide will assist individuals with their next career move and businesses with their growth plans. Our guide will provide valuable insight into the market across the UK.

Page 30 - CEO Commentary

Salary GuideLEGAL EXPERTISE

2018





Salary GuideFINANCIAL SERVICES EXPERTISE

2018





Throughout 2017, IDEX have experienced significant growth across all of our practice areas, with 2018 poised to raise the bar further still. The next 12 months will see both Global and Regional businesses confronted with fast-paced change as advances in technology such as AI, Chatbot’s and Google Jobs all begin to make their presence felt in a constantly evolving workspace. How long will it be before Amazon’s Alexa is able to deliver job updates, in real time?The UK recruitment market is continuing to see dramatic growth, despite ongoing uncertainty about Brexit, with 8 out of 10 companies expect to see their revenue increase over 2018, and 23% expecting it to increase by over 25%. The UK employment landscape continues to be dominated by one key factor, with 71% of firms

believing that their greatest challenge will come from overcoming the shortage of talent. To resolve this, business leaders are turning to increasingly innovative ways of attracting and retaining the best people, including remuneration, flexible working environments and a better work/life balance. This attitude, combined with the free availability of data has led to a much more transparent working environment. Websites like Glassdoor and Google have given potential employees the tools to review customer feedback and past / current employee reviews of their employer – meaning that a real focus on employer brand needs to happen, especially as we are now experiencing candidates refusing interviews due to the “brand/image” of said companies, rather than market “hearsay”. Embracing these changes is a vital part of IDEX’s key objective for 2018, to deliver an exceptional Client and Candidate experience. We aim to work as “Trusted Advisors” - we believe that your Recruitment Consultant should be there for you all the time, not just when you’re looking for a job or recruiting talent. A good Recruiter is a partner for life.We would love to hear your feedback on IDEX, please contact me directly with any positive comments or constructive feedback.

Matt Green Cert CII, FIRP Chief Executive Officer M 07974 859 860 E [email protected]

Documents

2018 Salary Guide - IDEX Consulting · Salary Guide INSURANCE EXPERTISE. 2018. Birmingham. The Colmore Building, 20 Colmore Circus. Queensway, Birmingham B4 6AT. t. 0333 700 4339