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- Tasks: Manage legacy reinsurance contracts and prepare technical accounts.
- Company: Join a dynamic team at Antares Group, a leader in reinsurance solutions.
- Benefits: Enjoy flexible working options and opportunities for professional development.
- Why this job: Be part of impactful projects while enhancing your skills in a supportive environment.
- Qualifications: 2 years in reinsurance administration and pursuing ACII qualification required.
- Other info: Opportunity to work on process improvements and engage with various teams.
The predicted salary is between 36000 - 60000 £ per year.
Role Summary:
To manage all aspects of legacy reinsurance contracts, working with numerous teams across the shared services of the group to meet expected deliverables. This incorporates the recording of the coverages, preparing outward technical accounts, monitoring timely reinsurance recovery collections and includes the production of profit commissions and the like, all with their respective monitoring of aged debt. The role will initially focus on proportional treaties with a view to incorporating non-proportional recoveries into the process as the role develops. Some ad-hoc project work will be required for existing reinsurances as system and process improvements are identified and implemented. Some additional project work will also be required when considering further reinsurances to bring onboard. Reporting of reinsurance information will be required to be provided to all stakeholders across the Antares Group including regulatory authorities when necessary.
Key Accountabilities:
- Prepare monthly and quarterly Quota Share reinsurance statements according to terms set in each respective treaty.
- Accounts are prepared correctly and in a timely manner. Issues in treaty interpretation addressed and corrected where necessary.
- Apply knowledge of treaty terms and conditions to accounting transactions.
- Maintain an inventory of reinsurance treaty documentation and accounts produced.
- All necessary documentation centrally stored and up to date.
- To provide assistance with credit control on outwards collections.
- Regular monitoring of aged debt across all accounts.
- Responding to reinsurer queries in a timely fashion with the assistance of the claims, legal and underwriting teams if required.
- Participate in projects to improve procedures and processes.
- Identify current issues and suggest possible solutions for discussion with stakeholders.
Knowledge and Qualifications:
- Minimum 2 years’ experience in outwards reinsurance administration and practices.
- Working towards ACII qualification.
- Undergraduate Degree or equivalent.
- A general understanding of reinsurance contract terminology with the ability to follow conditions stated.
- A general understanding of producing reinsurance accounts and statements.
Skills and Demonstrated Experience:
- General reinsurance market experience with an emphasis to reinsurance administration.
- Excellent numeric skills, with a high standard of accuracy and a desire for accurate data recording.
- Attention to detail and the ability to challenge assumptions made.
- Self-motivated and independent while maintaining discipline to achieve strategic objectives.
- Strong interpersonal skills, including effective communication, professionalism, and presentation skills.
- Open-minded, trustworthy and enthusiastic.
- Excellent planning and organisational skills.
- Demonstrated understanding of the (re)insurance business.
Reinsurance Technician employer: Antares
Contact Detail:
Antares Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reinsurance Technician
✨Tip Number 1
Familiarise yourself with the specific terminology and processes related to reinsurance contracts. Understanding terms like 'Quota Share' and 'proportional treaties' will not only help you in interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Network with professionals in the reinsurance industry, especially those who have experience in administration roles. Engaging with them can provide insights into the day-to-day responsibilities and challenges, which can be beneficial during your discussions with us.
✨Tip Number 3
Stay updated on current trends and changes in the reinsurance market. This knowledge can set you apart from other candidates and show that you are proactive about your professional development.
✨Tip Number 4
Prepare to discuss your experience with credit control and aged debt management. Being able to articulate your past successes in these areas will highlight your suitability for the role and your ability to contribute to our team.
We think you need these skills to ace Reinsurance Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in reinsurance administration. Focus on your numeric skills, attention to detail, and any specific projects you've worked on that relate to the role.
Craft a Strong Cover Letter: In your cover letter, explain why you're interested in the Reinsurance Technician position. Mention your understanding of reinsurance contract terminology and how your previous experience aligns with the key accountabilities listed in the job description.
Showcase Relevant Skills: Emphasise your interpersonal skills and ability to communicate effectively. Provide examples of how you've successfully collaborated with teams in past roles, especially in relation to credit control or project work.
Proofread Your Application: Before submitting, carefully proofread your application for any spelling or grammatical errors. A polished application reflects your attention to detail, which is crucial for this role.
How to prepare for a job interview at Antares
✨Know Your Reinsurance Basics
Make sure you have a solid understanding of reinsurance terminology and concepts. Brush up on proportional treaties and non-proportional recoveries, as these are key aspects of the role. Being able to discuss these topics confidently will show your expertise.
✨Prepare for Technical Questions
Expect questions related to accounting transactions and treaty interpretation. Be ready to explain how you would handle specific scenarios or issues that may arise in managing reinsurance contracts. This will demonstrate your problem-solving skills and knowledge.
✨Showcase Your Attention to Detail
Since accuracy is crucial in this role, be prepared to discuss examples from your past experience where your attention to detail made a difference. Highlight any processes you've improved or errors you've caught before they became bigger issues.
✨Demonstrate Strong Communication Skills
As you'll be liaising with various teams and stakeholders, it's important to showcase your interpersonal skills. Practice articulating your thoughts clearly and professionally, and be ready to discuss how you handle queries from reinsurers or collaborate with other departments.
