Salary Guide INSURANCE EXPERTISE

Transcription

1 Birmingham The Colmore Building, 20 Colmore Circus Queensway, Birmingham B4 6AT t London St Clements House, Clements Lane London EC4N 7AE t IDEX Consulting IDEXConsulting Salary Guide INSURANCE EXPERTISE

2 Contents Introduction... 3 City & Lloyd s Home Counties West Midlands East Midlands South West The North CEO Commentary Other sectors Welcome to the IDEX Insurance Expertise Salary Guide 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 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 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) MREC Managing Director M E David.Carr@idexconsulting.com Page 2 - Contents 2018 Salary Guide - Insurance Expertise Welcome - Page 3

3 City & Lloyd s 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 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 + Regional Director 100, , ,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 70, ,000 One of the continuing trends in 2018 is the high demand for New Business and Producer candidates 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. Page 4 - City & Lloyd s 2018 Salary Guide - Insurance Expertise City & Lloyd s - Page 5

4 Claims Professions Claim Administrator 18,000-22,000 22,000-30,000 30,000 + Account Handler 25,000-35,000 30,000-40,000 40,000-50,000 Claims Handler 20,000-25,000 24,000-40,000 40,000 + Placing Brokers 30,000-37,000 37,000-45,000 45,000-80,000 Loss Adjuster 20,000-25,000 25,000-45,000 45,000 + Account Executive 30,000-40,000 40,000 60,000 60,000-80,000 Claims Manager 50,000-60,000 55,000-80,000 75,000 + Account Director 50,000-70,000 50,000-70,000 70,000-90, % IDEX saw an 11.6% in placements across the London City General Insurance market in the last 6 months of Operations Operations Manager 40,000-50,000 50,000-70,000 70,000 + Operations Director 75,000-85,000 75, ,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 + Head of 60,000-80,000 60,000-80, ,000 + 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 28,000-40,000 40,000-70,000 50,000-70,000 Senior Underwriter 45,000-80,000 45,000-80,000 70,000-90,000 Practice Leader 90, ,000 90, ,000 90, ,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 Account Director 50,000-80,000 50,000-80,000 80, ,000 Head of 60, ,000 60, , , ,000 + M&A activity remains high across the City, with increasing numbers of foreign investors moving into insurance, seeking strong returns from their capital. (Data compared to the same period in 2016) Risk Analyst 35,000-40,000 40,000-50,000 65,000 + Compliance Director 100, , , , ,000 + Underwriting Assistant 25,000-32,000 32,000-36,000 32,000-36,000 Assistant Underwriter 27,000-35,000 35,000-45,000 45,000-50,000 Underwriter 30,000-40,000 40,000 80,000 50,000-70,000 Senior Underwriter 30,000-40,000 50,000-90,000 70, ,000 Practice Leader 90, ,000 90, ,000 90, ,000 Page 6 - City & Lloyd s 2018 Salary Guide - Insurance Expertise City & Lloyd s - Page 7

5 Marine/Aviation North America/ International Property Account Handler 25,000-35,000 30,000-45,000 45,000 + Account Handler 25,000-35,000 35,000-45,000 45,000-55,000 Placing Broker 25,000-35,000 35,000-55,000 55,000 + Placing Broker 30,000-45,000 45,000-60,000 80, ,000 Account Executive 35,000-50,000 50,000-75,000 75,000 + Account Executive 40,000-65,000 50,000-70,000 80, ,000 Account Director 65,000-75,000 75, ,000 + Account Director 65,000-75,000 80, , , ,000 + Head of 75, , ,000 + Head of 100, , , , , ,000 Underwriting Assistant 25,000-30,000 30,000-35,000 35,000 + Underwriting Assistant 25,000-35,000 35,000-40,000 40,000-45,000 Growth IDEX 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. 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 Account Executive 35,000-45,000 45,000-65,000 65, ,000 Account Director 45,000-65,000 65, ,000 80, ,000 Underwriting Assistant 30,000-45,000 45,000-70,000 45,000-70,000 Assistant Underwriter 25,000-35,000 40,000-50,000 40,000-50,000 Underwriter 40,000-50,000 60,000-70, ,000 + Senior Underwriter 80,000-90, , ,000 + Practice Leader 110, , , ,000 + Assistant Underwriter 25,000-35,000 35,000-40,000 40,000-50,000 Underwriter 30,000-40,000 40,000-50,000 50,000-65,000 Senior Underwriter 55,000-70,000 70, ,000 70, ,000 Class Underwriter 80, ,000 80, ,000 80, , 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. Page 8 - City & Lloyd s 2018 Salary Guide - Insurance Expertise City & Lloyd s - Page 9

6 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 + Regional Director 95, , ,000 Personal Lines Broking 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 Assistant Underwriter 20,000-30,000 30,000-35,000 35,000-40,000 Underwriter 25,000-35,000 35,000-60,000 40,000-60,000 Senior Underwriter 40,000-70,000 40,000-70,000 50,000-80,000 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 Underwriting Manager 40,000-80,000 50, ,000 50, ,000 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. Page 10 - Home Counties 2018 Salary Guide - Insurance Expertise Home Counties - Page 11

7 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 + Which Brokers have driven the growth in the Home Counties? (based on volume of recruitment within IDEX) Loss Adjuster 22,000-28,000 25,000-35,000 35, % 58.9% increase in Broking roles across the UK market 41.1% 41.1% increase in Underwriting roles across the UK market 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 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 Assistant 22,000-25,000 25,000-35,000 25,000-35,000 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, % 38.5% National Brokers 38.5% 38.5% Regional Brokers 23 % 23% Independent Brokers Page 12 - Home Counties 2018 Salary Guide - Insurance Expertise Home Counties - Page 13

8 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 Account Executive 25,000-30,000 30,000-50,000 60,000 + 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 Insurance Administrator 12,000-16,000 16,000-22,000 22,000-26,000 Telesales 15,000-18,000 18,000-25,000 25,000-35,000 Commercial Account Handler 18,000-26,000 26,000-45,000 45,000-50,000 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 Regional Director 95, , ,000 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. Page 14 - West Midlands 2018 Salary Guide - Insurance Expertise West Midlands - Page 15

9 Most desired qualifications: Cert CII Dip CII Personal Lines Broking Insurance Administrator 12,000-16,000 16,000-19,000 19,000-21,000 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 + Assistant Underwriter 20,000-25,000 25,000-30,000 30,000 + 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 + Head of Underwriting 100, , , , ,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 Office/ Branch Manager 80,000-90,000 90, , , % 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 Page 16 - West Midlands 2018 Salary Guide - Insurance Expertise West Midlands - Page 17

10 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 Insurance Administrator 15,000-17,000 17,000-21,000 21,000-24,000 Commercial Account Handler 15,000-18,000 18,000-24,000 24,000-29,000 Account Executive 20,000-24,000 24,000-24,000 30,000-50,000 Development Executive 21,000-25,000 25,000-35,000 35,000-50,000 Broking Manager 22,000-25,000 25,000-35,000 35,000-50,000 Broking Commercial/ Corporate Insurance Administrator 17,000-19,000 19,000-22, ,500-27,000 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 Account Executive 25,000-30,000 30,000-50,000 50,000-75,000 Professional Indemnity Executive 28,000-35,000 35,000-45,000 45,000-60,000 Development Executive 20,000-27,000 27,000-32,000 32,000-50,000 Broking Manager 30,000-35,000 35,000-45,000 45,000-60,000 Regional Broking Manager 50,000-60,000 60,000-70,000 70,000-80,000 Regional Manager 65,000-85,000 65,000-85,000 65,000-85,000 Regional Director 95, , ,000 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. Page 18 - East Midlands 2018 Salary Guide - Insurance Expertise East Midlands - Page 19

11 Personal Lines Broking Insurance Administrator 15,000-18,000 20,000-23,000 23,000-25,000 Insurance Sales 13,000-16,000 16,000-19,000 19,000-25,000 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 Which Brokers have driven the growth in the East Midlands? (based on volume of recruitment within IDEX) Team Manager 18,000-21,000 21,000-23,000 23,000-33,000 Claims Manager 18,000-28,000 28,000-38,000 38,000-63,000 Personal Lines Underwriting Motor Underwriting 16,000-20,000 20,000-25,000 25,000-40,000 Operations Business Analysis 27,000-40,000 40,000-60,000 60, % Household Underwriter 16,000-20,000 20,000-25,000 25,000-40,000 Marketing Manager 50,000-60,000 60,000-70,000 70,000-90,000 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. High Net Worth Underwriter 16,000-23,000 23,000-25,000 25,000-45,000 Underwriting Underwriting Assistant/ Adminstrator 17,000-20,000 20,000-25,000 25,000 + Assistant Underwriter 20,000-25,000 25,000-30,000 30,000 + 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 + Head of Underwriting 100, , , , ,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 Office/ Branch Manager 80,000-90,000 90, , ,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 Assistant 22,000-25,000 25,000-30,000 30,000-35,000 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 % 28% Regional Brokers 35 % Commercial Underwriting 35% Independent Brokers Underwriting Assistant 18,000-23,000 23,000-25,000 25,000-27,000 Assistant Underwriter 18,000-23,000 23,000-27,000 27,000-30,000 Underwriter 27,000-35,000 35,000-45,000 45,000-55, % Development Underwriter 30,000-40,000 40,000-50,000 45,000-60,000 Underwriting Manager 50,000-80,000 80,000-90,000 80, ,000 16% Insurer Page 20 - East Midlands 2018 Salary Guide - Insurance Expertise East Midlands - Page 21

12 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 Insurance Administrator 12,000-15,000 15,000-18,000 18,000-24,000 Commercial Account Handler 15,000-22,000 22,000-26,000 26,000-35,000 Account Executive 20,000-25,000 25,000-35,000 35,000-45,000 Development Executive 20,000-25,000 25,000-40,000 30,000-50,000 Broking Manager 20,000-25,000 25,000-35,000 35,000-70,000 Broking Commercial Corporate Insurance Administrator 12,000-15,000 16,000-20,000 18,000-24,000 Commercial Account Handler 18,000-24,000 24,000-30,000 30,000-40,000 Professional Indemnity Handler 20,000-26,000 26,000-35,000 35,000-45,000 Account Executive 30,000-35,000 35,000-50,000 50,000-75,000 Account Director 50,000-60,000 60, ,000 80, ,000 Professional Indemnity Executive 32,000-38,000 38,000-50,000 50,000-75,000 Development Executive 30,000-35,00 30,000-50,000 50,000-75,000 Broking Manager 25,000-30,000 30,000-45,000 45,000-60,000 Regional Broking Manager 50,000-60,000 60,000-70,000 70,000-80,000 Regional Manager 65, ,000 65,000-70,000 65, ,000 Regional Director 95, , , % The strong focus in the South West Broking market has seen a 16.1% increase in the number of jobs for client facing individuals. Page 22 - South West 2018 Salary Guide - Insurance Expertise South West - Page 23

13 Personal Lines Broking Operations Insurance Sales 15,000-20,000 20,000-30,000 20,000-30,000 Assistant Operations Manager 25,000-30,000 30,00-35,000 35,000-40,000 Team Manager 22,000-25,000 25,000-30,000 30,000-50,000 Operations Manager 35,000-40,000 40,000-50,000 50,000-65,000 Personal Lines Underwriting Motor Underwriter 16,000-20,000 20,000-25,000 25,000-40,000 Operations Director 45,000-55,000 55,000-80,000 80, ,000 Office/ Branch Manager 40,000-50,000 50,000-55,000 55,000-70,000 Household Underwriter 16,000-20,000 20,000-25,000 25,000-40,000 Risk and Compliance High Net Worth Underwriter 16,000-23,000 23,000-25,000 25,000-40,000 Risk Manager 40,000-45,000 45,000-55,000 55,000-75,000 Increased Vacancies in the South West has resulted in many Insurers boosting their staff numbers considerably. Underwriting Underwriting Assistant 14,000-17,000 17,000-22,000 17,000-22,000 Assistant Underwriter 17,000-20,000 20,000-22,000 22,000-24,000 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 Underwriting Manager 50,000-80,000 50,000-80,000 50, ,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 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 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 Commercial Assistant 22,000-25,000 25,000-30,000 30,000-35,000 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 Job Roles in the South West 30% Broking 10% Underwriting 12% Management 30% Claims 10% Personal Lines 8% Other Page 24 - South West 2018 Salary Guide - Insurance Expertise South West - Page 25

14 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 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 Account Executive 25,000-30,000 30,000-50,000 50,000 + Development Executive 25,000-32,000 32,000-50,000 50,000-70,000 Broking Manager 28,000-35,000 35,000-45,000 45,000-55,000 Broking Commercial/ Corporate Insurance Administrator 12,000-16,000 16,000-22,000 22,000-26,000 Telesales 15,000-18,000 18,000-25,000 25,000-35,000 Commercial Account Handler 18,000-26,000 26,000-45,000 45,000-50,000 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 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. Page 26 - The North 2018 Salary Guide - Insurance Expertise The North - Page 27

15 Brokers are continuing to expand their national presence to into the North of England. Personal Lines Broking Insurance Administrator 12,000-16,000 16,000-19,000 19,000-21,000 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 Underwriter 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/ Administrator 17,000-20,000 20,000-25,000 25,000 + Assistant Underwriter 20,000-25,000 25,000-30,000 30,000 + 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 + Head of Underwriting 100, , , , ,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 + 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 Office/ Branch Manager 80,000-90,000 90, , ,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 Assistant 22,000-25,000 25,000-30,000 30,000-35,000 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 The increase in New Business Executive roles across the North of the UK has continued during 2017 and is set to continue into The talent shortage for Senior Sales Management and Leadership roles across the North of England and Scotland was still ongoing during Page 28 - The North 2018 Salary Guide - Insurance Expertise The North - Page 29

16 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. 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 Matt Green Cert CII, FIRP Chief Executive Officer M E Matt.Green@idexconsulting.com 2018 Salary Guide FINANCIAL SERVICES EXPERTISE Financial Services Expertise Guide IDEX Consulting s annual Salary Guide for Financial Services professionals has returned for 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 Salary Guide LEGAL EXPERTISE 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. Page 30 - CEO Commentary 2018 Salary Guide - Insurance Expertise Other Sectors Guides - Page 31