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- Tasks: Support financial management of insurance claims and ensure accurate processing and reporting.
- Company: Join a leading global insurance brokerage with a collaborative culture.
- Benefits: Flexible working arrangements, professional development, and a supportive team environment.
- Other info: Opportunities for growth in a diverse and inclusive workplace.
- Why this job: Make a real impact in the insurance industry while developing your finance skills.
- Qualifications: Experience in finance or insurance operations and strong numerical skills required.
The predicted salary is between 30000 - 40000 £ per year.
The Claims Finance Administrator supports the financial management of insurance claims by ensuring accurate processing, recording, and reporting of claim-related financial transactions. The role plays a key part in maintaining robust financial controls across claims payments, reserves, recoveries, and reinsurance, ensuring compliance with internal policies, delegated authorities, and regulatory requirements.
Key Responsibilities- Claims Financial Processing
- Process and validate claims payments, including indemnity, fees, and expense payments, in accordance with policy terms and delegated authority limits.
- Ensure accurate posting of claims costs, reserves, and recoveries within claims and finance systems.
- Monitor payment requests to ensure appropriate approvals, coverage checks, and documentation are in place.
- Support the processing of salvage and subrogation recoveries.
- Reserving & Reconciliation
- Assist in the setup, maintenance, and review of claim reserves in line with reserving guidelines.
- Reconcile claims transactions between claims systems, general ledger, and bordereaux (where applicable).
- Investigate and resolve discrepancies in claims balances, suspense accounts, and aged items.
- Reinsurance & Third Parties
- Support reinsurance recoveries, including excess of loss and quota share arrangements.
- Assist with the preparation and review of reinsurance bordereaux and statements of account.
- Liaise with brokers, reinsurers, TPAs, and third-party suppliers to resolve finance-related queries.
- Month-End & Reporting
- Support month-end and quarter-end close processes, including accruals, journals, and variance analysis.
- Produce regular claims finance reports, such as paid vs reserved analysis, large loss tracking, and aged recoverables.
- Provide financial data to support actuarial, underwriting, and management reporting.
- Controls, Audit & Compliance
- Ensure claims financial activity complies with internal controls, SOX (where applicable), and regulatory requirements (e.g. FCA / PRA).
- Assist with internal and external audits by providing supporting documentation and reconciliations.
- Maintain accurate and auditable claims financial records.
- Process Improvement & Administration
- Maintain high-quality documentation and data within claims management systems.
- Identify opportunities to improve claims finance processes, controls, and reporting.
- Act as a key point of contact for finance-related queries from claims handlers and operational teams.
- Essential
- Experience in a claims finance, insurance operations, or financial administration role.
- Strong numerical skills with high attention to detail and accuracy.
- Experience working with claims management systems and financial ledgers.
- Good knowledge of Microsoft Excel, including basic reconciliations and data analysis.
- Ability to work effectively in a regulated and deadline-driven environment.
- Desirable
- Experience in general insurance, London Market, or commercial insurance.
- Understanding of claims reserving, reinsurance structures, and recoveries.
- Exposure to actuarial or underwriting data and reporting.
- AAT qualification or working towards a professional finance qualification (ACCA, CIMA, or equivalent) desirable.
- GCSEs (or equivalent) including Maths and English.
- Detail-oriented, organised, and methodical.
- Strong communication skills with confidence to challenge and escalate where appropriate.
- Ability to work collaboratively across claims, finance, underwriting, and actuarial teams.
- High standards of integrity and confidentiality.
- Hybrid or office-based working.
- Flexibility required during month-end, quarter-end, and year-end close processes.
Claims Finance Administrator in Essex employer: Brown & Brown, Inc.
Contact Detail:
Brown & Brown, Inc. Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Claims Finance Administrator in Essex
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and role thoroughly. Understand their values and how you can contribute to their mission. This will help you stand out and show that you're genuinely interested.
✨Tip Number 3
Practice your interview skills with friends or family. Get comfortable answering common questions and discussing your experience. The more you practice, the more confident you'll feel when it counts!
✨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 Claims Finance Administrator in Essex
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Claims Finance Administrator role. Highlight your experience in claims finance or financial administration, and don’t forget to showcase those strong numerical skills we’re looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about this role and how your skills align with our company culture. Remember, we value integrity and teamwork, so let that come through!
Showcase Your Attention to Detail: In the world of claims finance, attention to detail is key. Make sure your application is free from typos and errors. You could even mention specific examples where your detail-oriented approach made a difference in your previous roles.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, you’ll find all the info you need about the role and our company culture there!
How to prepare for a job interview at Brown & Brown, Inc.
✨Know Your Numbers
As a Claims Finance Administrator, you'll be dealing with financial transactions daily. Brush up on your numerical skills and be prepared to discuss how you've handled financial data in previous roles. Highlight any experience with claims management systems or financial ledgers.
✨Understand the Industry
Familiarise yourself with the insurance industry, especially claims processing and reinsurance structures. Being able to speak knowledgeably about these topics will show that you're not just looking for any job, but that you're genuinely interested in this role and the company.
✨Prepare for Scenario Questions
Expect questions that ask you to solve hypothetical problems related to claims finance. Think of examples from your past experiences where you had to reconcile discrepancies or manage tight deadlines. Use the STAR method (Situation, Task, Action, Result) to structure your answers.
✨Show Your Attention to Detail
This role requires a high level of accuracy and attention to detail. Be ready to provide examples of how you've maintained quality in your work. You might even want to bring along a sample report or documentation you've worked on to demonstrate your meticulousness.