Claims Advisor for a leading vehicle insurance company, managing claims and ensuring customer satisfaction with efficient processes. Critical role in accuracy and regulatory compliance in compensation cases.
About the role
- Senior Reinsurance Analyst managing oversight of syndicates’ reinsurance portfolios and their reinsurance operations. Involve in monitoring and managing reinsurance strategies and conducting reviews.
Responsibilities
- Oversee syndicates’ reinsurance strategies and purchasing plans, ensuring they are robust and reflect the appetite and best interests of the syndicate members.
- Assist with principles-based oversight, conducting reviews, monitoring and managing progress.
- Interpret and challenge reinsurance contracts. The role is reliant on accurate and timely contractual data entry to, and maintenance of, the RI database XLPro.
- Oversee and, where required, administer reinsurance contracts to ensure compliance with all contractual obligations, to include the calculation and processing of M&D premiums, premium adjustments, quota share statements and bordereaux, profit commissions and NCBs.
- Monitor claims and reinsurance recoverables and, where required, calculate and process facultative and excess of loss reinsurance recoveries.
- Oversee and, where required, maintain reinsurance ledgers which are a key foundation of RI Data reporting for our managed Syndicates.
- Participate in the ongoing development of the departments’ operating model, tailoring business systems and procedures to ensure accurate and meaningful management information is available to support the business.
- Undertake any reasonable duties as may be requested by the Head of Reinsurance and Reinsurance Manager.
Requirements
- 5+ years’ experience in outwards reinsurance placement and operations ideally in the Lloyd’s / London market.
- Good understanding of the impact of reinsurance to underwriting, profit and capital and the associated risks.
- Good understanding of counterparty management and the associated risks.
- Communication and interpersonal skills with employees at all levels.
- Ability to work effectively as part of a team and on own initiative with the ability to set and prioritise work and meet deadlines.
- Good organisational skills and attention to detail.
- Understanding of the Lloyd’s Market reinsurance practices, including LORS.
- Working knowledge of MS Office (or similar) programs, in particular Excel.
- Previous experience of working in a reinsurance role.
- Working knowledge of reinsurance contract wordings and related paperwork.
- Professional qualification (ACII) or equivalent qualification and/or experience.
Benefits
- 35-hour working week with hybrid and flexible working
- Generous holiday allowance that increases with service
- Private medical insurance with virtual GP access
- Annual health screening, dental cover and eye care
- Subsidised gym or sports club membership
- Enhanced maternity, paternity, adoption and shared parental pay
- Highly competitive pension with up to 13% employer contribution
- Life assurance and income protection
- Discretionary annual bonus scheme
- Interest-free season ticket loan and salary sacrifice schemes
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