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- Tasks: Manage reinsurance contracts and ensure timely recoveries while delivering top-notch customer service.
- Company: Join a leading firm in the reinsurance industry with a dynamic team.
- Benefits: Competitive salary, flexible working options, and opportunities for professional growth.
- Why this job: Be part of a crucial team that drives financial success and innovation in reinsurance.
- Qualifications: 10+ years in reinsurance administration with strong analytical skills.
- Other info: Fast-paced environment with a focus on teamwork and career advancement.
The predicted salary is between 36000 - 60000 £ per year.
Key Relationships: Ceded Reinsurance team, underwriting assistants, claims managers, operations managers in underwriting teams and reinsurance brokers.
Job Summary: To be accountable for the accurate and timely administration of reinsurance contracts, the timely receipt of reinsurance recoveries and the delivery of excellent customer service to internal and external customers.
Key Responsibilities:
- Take full ownership of a portfolio of reinsurances, including the accurate capture of contracts and endorsements on reinsurance systems.
- Administer reinsurance contracts to ensure the Group complies with contractual terms and conditions.
- Play a leading role in the reinsurance team’s month end process, adhering to a strict month end timetable.
- Ensure all applicable claims are CAT coded appropriately and are recovered under relevant reinsurance programme(s).
- Undertake regular cession reviews across your portfolio, assuming accountability for risks correctly ceding to reinsurances.
- Calculate and input to the core transaction system, facultative reinsurance recovery figures and produce and submit to brokers accounting documentation.
- Take full ownership of an agreed set of proportional accounts, producing and submitting to brokers accurately and on time.
- Run the excess of loss recovery system, produce and submit to brokers accounting documentation.
- Analyse movements in net triangles to ensure accuracy and reasonableness and respond promptly to queries from the underwriting teams arising from the net triangles.
- Calculate premium adjustments.
- Work in conjunction with both Ceded Reinsurance Assistant Managers to meet or exceed key performance indicators in relation to the administration of reinsurance.
- Work collaboratively with the rest of the reinsurance technical team to meet and/or exceed key performance indicator performance targets for all Group reinsurance.
- Undertake proactive credit control including liaising with reinsurance brokers and escalating matters where appropriate to the Ceded Reinsurance Operations Manager.
- Respond promptly to reinsurer and broker queries, liaising with claims managers and underwriters where appropriate.
- Assist with the peer review of contracts, endorsements and accounts that have been entered by colleagues.
- Provide pro‑active customer service to underwriting and finance teams.
- Be actively involved in the on‑going development of the Company’s reinsurance administration procedures and systems.
- Deputise for the Reinsurance Manager(s) where required, and ensure Ceded Reinsurance are appropriately represented.
- Undertake any reasonable duties as may be requested by the Reinsurance Operations Manager in the provision of the service.
Person Specification:
Skills and Abilities:
- Comfortable working with large volumes of data, with exceptional attention to detail.
- Ability to manage time, meet deadlines and prioritise.
- Self‑sufficient, and comfortable working in an agile environment with stakeholders in multiple locations.
- Motivational skills, team worker as well as be able to work on own initiative.
- Able to communicate effectively with others, both verbally and in writing.
Knowledge and Experience:
- 10+ years experience of reinsurance administration in the London Market in a technician or senior technician role.
- Must be capable of identifying applicable reinsurances.
- Ability to calculate recoveries arising under different reinsurance types; Facultative Proportional treaty, including associated overriders, profit commissions, premium reserves and portfolio transfers, Excess of loss including the calculation of associated reinstatement and adjustment premiums, Risk Excess and Event reinsurance programmes.
Aptitude and Disposition:
- Outcome focussed, self‑motivated, flexible and enthusiastic.
- Aptitude for figure work.
- Detail focussed with a desire to get it right first time.
- Professional approach to successfully interact with managers, colleagues and external stakeholders.
Competencies:
- Speed and quality.
- Achievement drive.
- Customer focus.
Ceded Reinsurance Technician employer: Beazley Management Limited
Contact Detail:
Beazley Management Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Ceded Reinsurance Technician
✨Tip Number 1
Network like a pro! Reach out to your connections in the reinsurance industry, especially those who work with ceded reinsurance. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Prepare for interviews by brushing up on your technical knowledge. Make sure you can confidently discuss reinsurance contracts and recovery calculations. We want you to shine when they ask about your experience with different reinsurance types!
✨Tip Number 3
Show off your attention to detail! During interviews, share examples of how you've managed large volumes of data accurately. This will demonstrate your ability to handle the responsibilities of a Ceded Reinsurance Technician.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about their job search!
We think you need these skills to ace Ceded Reinsurance Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Ceded Reinsurance Technician role. Highlight your experience in reinsurance administration and any relevant skills that match the job description. We want to see how you can bring value to our team!
Showcase Your Attention to Detail: Since this role requires exceptional attention to detail, include examples in your application that demonstrate your ability to manage large volumes of data accurately. We love candidates who can get it right the first time!
Communicate Clearly: Effective communication is key in this role, so make sure your written application is clear and concise. Use straightforward language and structure your thoughts logically. We appreciate clarity just as much as you do!
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. We can’t wait to see what you bring to the table!
How to prepare for a job interview at Beazley Management Limited
✨Know Your Reinsurance Inside Out
Before the interview, brush up on your knowledge of reinsurance contracts and the specific types relevant to the role. Be prepared to discuss your experience with facultative and proportional treaties, as well as excess of loss programmes. This will show that you’re not just familiar with the terminology but can also apply it practically.
✨Demonstrate Attention to Detail
Given the importance of accuracy in this role, be ready to provide examples of how you've ensured precision in your previous work. You might want to share a story about a time you caught an error that could have led to significant issues. This will highlight your meticulous nature and commitment to getting things right the first time.
✨Showcase Your Teamwork Skills
Since collaboration is key in this position, think of instances where you’ve worked effectively within a team. Discuss how you’ve liaised with underwriting assistants or claims managers to achieve common goals. This will demonstrate your ability to communicate and work well with others, which is crucial for success in the Ceded Reinsurance team.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving skills and ability to handle real-life situations. For example, you might be asked how you would manage a tight deadline for month-end processes. Prepare by thinking through your approach to prioritising tasks and managing time effectively, showcasing your outcome-focused mindset.
