Reinsurance Technician

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Reinsurance Technician

  • Location:

    United Kingdom

  • Contact:

    Piere Forbes

  • Contact email:

    piere.forbes@equitycity.co.uk

  • Contact phone:

  • Job ref:

    538

  • Published:

    7 days ago

  • Expiry date:

    2025-02-27

Title: Reinsurance Technician
Location: London/ Hybrid 
Salary: £

Job Profile Summary
The main purpose of this role is to administrate reinsurance recovery activities for a Lloyd’s syndicate and associated insurance entities. In addition, the role holder will be required to provide renewal information to assist in the purchase of reinsurance coverage.

Job Description
  • Reinsurance recoveries for excess of loss, proportional, and facultative accounts
  • Calculate, issue, and monitor reinsurance collection notes as per contract terms and conditions
  • Premium Adjustments, Profit Commission & NCB calculations
  • Manage collection and payment of recoveries and premium, and manage Aged Debt
  • Compliance with the Reinsurance Administration Department’s month/quarter-end deadline requirements
  • Produce Risk and Claim bordereaux to support reinsurance accounts
  • Produce renewal presentation information
  • Respond to Broker/Reinsurer queries in a timely manner
  • Cover note administration, including recording reinsurance information into in-house systems
  • Review tasks completed by the Outsourcing Partner
  • Project Work:
  • Assist with the testing and implementation of new software and processes
  • Release testing of current systems (e.g., Charisma & XL Pro)
  • Review and update procedure manuals in an accurate and timely manner Additional Responsibilities
    • Management information reporting
    • Other duties as assigned
    Regulatory Responsibilities
    • Manage relationships with customers, agents, and service providers:
    • Foster positive relationships with customers and attain an understanding of their needs
    • Ensure that the principles of Treating Customers Fairly are upheld by agents and service providers
    • Ensure that customer complaints are promptly identified, recorded, and referred as appropriate
    • Advise, assist, and service customers on insurance and risk matters to promote customer satisfaction
    Skills and Competencies

    Essential:
    • Previous reinsurance experience
    • Experience with a Lloyd’s syndicate
    • Proficiency in Excel, Word, and Microsoft Office (intermediate level)
    Desirable:
    • Previous involvement in a reinsurance platform implementation
    • Experience with the LORS system
    • Experience with XL Pro reinsurance platform
    • Education