Ceded Reinsurance Technician

General Job Title: Ceded Reinsurance Technician

Division: Ceded Reinsurance

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 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.

General

At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours - PIED and Being Beazley. Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic (PIED) that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers. Comply with Beazley procedures, policies and regulations including the code of conduct. Undertake training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, internal audit) directly, either via e-learning or the learning management system. Display business ethics that uphold the interests of all our customers. Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs. Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management. Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

The Ceded Reinsurance function embraces Beazley’s agile working principles. While we value flexibility, this role requires a minimum of two days per week in our London office to foster collaboration and engagement. Beyond that, you’ll have the freedom to balance your remaining days between office and remote work in a way that suits you.

Person Specification

Essential Criteria:

• Proven experience and knowledge of reinsurance administration in the London Market in a Technician or Senior Technician role.
• Ability to calculate recoveries arising under different reinsurance types including Facultative, Proportional Treaty, Excess of Loss and Risk Excess and Event Reinsurance Programmes.
• Able to work with large volumes of data, with exceptional attention to detail.

Desirable Criteria

• Excellent time management skills.
• Able to communicate effectively.
• Outcome focussed.