William Lace, Aon

William Lace is an aviation insurance broker at Aon. He has an MA in Spanish and Italian from the University of St Andrews.

Why did you want to work as an insurance broker and for Aon?

I thoroughly enjoyed summer placements with two well known brokers and I thought a role with such a global company would offer the greatest chance of accelerated career development and make good use of my language skills.

What does your graduate job involve?

Aviation broking is all about finding the best insurance policies for our major airline clients. I am part of a six-strong team of brokers, working with clients across Europe, the Middle East and Africa. I also liaise with external underwriters.

'I enjoy the adrenaline rush of fast-moving City business, along with the bonuses of a stable salary, supportive colleagues and sociable working hours.'

My main responsibilities include negotiating midterm changes to existing policies (if, for example, an airline needs to fly in a war zone then it’s up to me to adjust the original terms an underwriter and insurer have previously agreed), keeping track of the pricings (costs) involved in insuring airlines, obtaining market pricings from underwriters in Lloyd’s of London, and supporting senior brokers.

While I get out of the office a lot during the day, there is plenty of paperwork to catch up on when I get back. Alongside full-time work, I’m currently studying for my Advanced Diploma in Insurance (ACII) – a valuable industry-recognised qualification to have under my belt.

What do you like best about working as an insurance broker?

I enjoy the adrenaline rush of fast-moving City business, along with the bonuses of a stable salary, supportive colleagues and sociable working hours.

What skills do graduate insurance brokers need?

The relationships you develop within the sector are key, so being a personable and hard working individual will take you far. A good head for numbers, excellent problem solving and negotiation skills, and the ability to work well under pressure will also stand you in good stead. I frequently work to tight deadlines when finalising the terms of a policy; often our clients must be fully insured by a certain date or they cannot fly!

Any advice for students and graduates thinking about working in insurance?

Get some work experience: it’s the best way to get a feel for the industry and will impress at interview.