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- Tasks: Lead and support the Outwards Reinsurance team in placement analysis and contract management.
- Company: Join a leading Specialty Insurer based in the City, known for innovation and excellence.
- Benefits: Enjoy a permanent role with opportunities for professional growth and development.
- Why this job: Be part of a dynamic team, working on diverse reinsurance projects that make an impact.
- Qualifications: University degree in a numerate field and 5+ years of relevant experience required.
- Other info: Strong analytical skills and proficiency in Microsoft applications are essential.
The predicted salary is between 48000 - 72000 £ per year.
About us Avencia Consulting are recruiting on behalf of a leading Specialty Insurer based in the City, who are looking to hire an Outwards Reinsurance Placement Manager to join on a permanent basis.
The role will be an essential part of the Outwards Reinsurance Placement & Analytics team, reporting to the Head of Ceded Reinsurance. The Placement Manager's role is to support and help lead the wider Ceded Reinsurance team in pre- and post-placement analysis and placement of Bespoke and Specialty (B&S) outwards reinsurance program including the full spectrum of Specialty Lines (Marine, Energy, Terror, Aviation and Whole Account) but with lots of opportunity to also work on other lines of business.
The incumbent is expected to possess a strong level of insurance systems and data knowledge and a very strong understanding of technical Outwards RI concepts, allowing them to lead both large placements and smaller proportional and non-proportional placements, as well as providing high quality data and analytical insight and contributing to the Outwards RI project workstream.
Key accountabilities
- Lead placement for B&S treaty contracts including MGA specific covers, owning end-to-end contract lifecycle.
- Assist the Outwards Reinsurance team with the placement process of larger B&S treaty placements.
- Work alongside Underwriting to identify required coverage and contribute to Outwards RI strategy discussions on B&S.
- Provide marketing support including establishing contact lists, preparing presentations, and recording capacity offered.
- Build and maintain strong market relationships with brokers and reinsurers.
- Work with Risk and Actuarial to compile exposure data for protected classes of business and create submission packs for B&S placements.
- Provide high levels of service and ORI technical guidance to ORI Operations, Underwriting, Actuarial and Finance teams.
- Respond promptly to reinsurer and broker queries.
- Assist in the production of reinsurer stats, programme summaries and schematics.
- Drive production of high-quality MI and variance analysis to support reporting and placement of reinsurance programmes.
- Contribute to the Outwards RI workstream of the Business Transformation project.
- Assist with broker meetings, providing reinsurers security review, brokerage stats etc.
- Assist with the peer review of certain tasks carried out by colleagues.
- Undertake any reasonable duties as may be requested by the Outwards Reinsurance Team.
Skills & experience
- University degree, preferably in a numerate field (finance, statistics, economics, mathematics, etc.).
- 5+ years' experience in a similar role.
- A strong level of insurance and reinsurance knowledge required.
- Strong knowledge of the Microsoft Suite of applications with Excel skills such as iterative formulae (nested ifs), multi-criteria lookups (index, match), sumifs and pivot tables. Power query/VBA/SQL experience a plus, but not required.
- Strong analytical and organizational skills.
- Ability to work effectively as part of the Outwards Reinsurance Team as well as with other key stakeholders across different functions within the organization.
- Ability to work under pressure and handle a varied, fluctuating workload.
Outwards Reinsurance Placement Manager employer: Avencia Consulting Services
Contact Detail:
Avencia Consulting Services Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Outwards Reinsurance Placement Manager
✨Tip Number 1
Familiarise yourself with the latest trends and developments in the reinsurance market, especially in Specialty Lines like Marine and Aviation. This knowledge will not only help you during interviews but also demonstrate your genuine interest in the role.
✨Tip Number 2
Network with professionals in the reinsurance industry, particularly those who work in Outwards Reinsurance. Attend industry events or webinars to make connections that could provide insights or even referrals for the position.
✨Tip Number 3
Brush up on your analytical skills, especially with Excel. Being able to showcase your proficiency in data analysis and reporting will be crucial, as the role requires high-quality MI and variance analysis.
✨Tip Number 4
Prepare to discuss your experience with managing relationships with brokers and reinsurers. Highlight specific examples where you've successfully navigated complex placements or resolved queries, as this will be key to demonstrating your fit for the role.
We think you need these skills to ace Outwards Reinsurance Placement Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in outwards reinsurance and showcases your analytical skills. Emphasise any specific projects or roles that align with the responsibilities mentioned in the job description.
Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also demonstrates your understanding of the specialty insurance market. Mention your familiarity with the various lines of business, such as Marine and Aviation, to show you’re a good fit for the role.
Highlight Technical Skills: In your application, be sure to mention your proficiency with Microsoft Excel and any experience with data analysis tools like Power Query or SQL. This will help demonstrate your capability to handle the technical aspects of the role.
Showcase Relationship Management Experience: If you have experience building relationships with brokers and reinsurers, make sure to include this in your application. Highlight any successful collaborations or partnerships that illustrate your ability to maintain strong market relationships.
How to prepare for a job interview at Avencia Consulting Services
✨Showcase Your Technical Knowledge
Make sure to highlight your understanding of Outwards Reinsurance concepts during the interview. Be prepared to discuss specific examples from your past experience that demonstrate your expertise in handling both large and smaller placements.
✨Demonstrate Analytical Skills
Since the role requires strong analytical capabilities, be ready to talk about how you've used data analysis in previous roles. Discuss any tools or techniques you've employed, especially with Excel, to support your insights and decision-making.
✨Build Rapport with Interviewers
Establishing a good relationship with your interviewers can set you apart. Show enthusiasm for the company and the role, and be personable. Ask insightful questions about their current projects and how you can contribute to their goals.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills and ability to work under pressure. Think of situations where you successfully managed fluctuating workloads or resolved conflicts with brokers or reinsurers, and be ready to share those stories.
