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For Companies At a Glance
- Tasks: Lead the placement of bespoke reinsurance contracts and support the wider team with analysis.
- 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, making impactful decisions in the reinsurance industry.
- Qualifications: University degree in a numerate field and 5+ years of relevant experience required.
- Other info: Strong analytical skills and proficiency in Microsoft Excel are essential for success.
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
Contact Detail:
Avencia Consulting 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 in outwards reinsurance, 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 insurance and reinsurance sectors. Attend industry events or webinars to connect with potential colleagues and learn more about the company culture at StudySmarter.
✨Tip Number 3
Brush up on your analytical skills, particularly with Excel. Being able to showcase your proficiency in data analysis and reporting will set you apart from other candidates.
✨Tip Number 4
Prepare to discuss your experience with managing relationships with brokers and reinsurers. Highlight specific examples where you've successfully navigated these interactions to achieve positive outcomes.
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 any specific skills mentioned in the job description, such as analytical abilities and knowledge of insurance systems.
Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also demonstrates your understanding of the role and the company. Mention your experience with B&S treaty contracts and your ability to build market relationships.
Showcase Technical Skills: Emphasise your proficiency in Microsoft Excel and any other technical skills you possess, such as Power Query or SQL. Provide examples of how you've used these skills in previous roles to support your application.
Highlight Team Collaboration: Discuss your experience working in teams, especially in cross-functional settings. Mention specific instances where you collaborated with underwriting, actuarial, or finance teams to achieve common goals.
How to prepare for a job interview at Avencia Consulting
✨Showcase Your Technical Knowledge
Make sure to highlight your understanding of outwards reinsurance concepts and the specific lines of business mentioned in the job description. Be prepared to discuss your experience with bespoke and specialty placements, as well as any relevant analytical insights you've provided in previous roles.
✨Demonstrate Strong Analytical Skills
Since the role requires a high level of analytical capability, come prepared with examples of how you've used data analysis in past positions. Discuss any tools or software you've used, especially Excel, and be ready to explain complex data in simple terms.
✨Build Rapport with Interviewers
Establishing strong relationships is key in this role. During the interview, engage with your interviewers by asking insightful questions about their experiences and the company culture. This will show that you value collaboration and are keen to integrate into their team.
✨Prepare for Scenario-Based Questions
Expect to face scenario-based questions that assess your problem-solving abilities and decision-making skills. Think of situations where you've successfully managed pressure or handled fluctuating workloads, and be ready to share these stories in detail.
