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- Tasks: Manage reinsurance recovery activities and ensure compliance with contract terms.
- Company: Chaucer, a leading insurance group at Lloyd’s, committed to diversity.
- Benefits: Flexible working arrangements, competitive salary, and a supportive work environment.
- Why this job: Join a dynamic team and make a real impact in the insurance industry.
- Qualifications: Strong analytical skills and attention to detail required.
- Other info: Opportunities for career growth and development in a global company.
The predicted salary is between 40000 - 50000 £ per year.
The main purpose of this role is to administrate reinsurance recovery activities for Chaucer Lloyd’s Syndicate 1084 and Chaucer Insurance Company DAC, as well as other related tasks within the wider outwards reinsurance function.
Key Responsibilities:
- Reinsurance recoveries for excess of loss, proportional and facultative accounts
- Calculate, issue and monitor reinsurance collection notes as per contract terms and conditions
- Premium Adjustments, Profit Commission & NCB calculations
- Manage collection and payment of recoveries and premium, and manage Aged Debt
- Compliance with month/quarter end close deadline requirements
- Produce Risk and Claim bordereaux to support reinsurance accounts
- Produce renewal presentation information
- Respond to Broker/Reinsurers queries in a timely manner
- Cover note administration, including the recording of reinsurance information into in-house systems
- Review of tasks completed by our Outsourcing Partner
- Production of management information
- Other duties as assigned
Regulatory Responsibilities:
- Manage the relationships with Customers, Agents and Service Providers
- Foster positive relationships with Customers and attain an understanding of their needs
- Ensure that the principles of Treating Customers Fairly are upheld by Agents and Service Providers
- Ensure that Customer Complaints are promptly identified, recorded and referred as appropriate
- Advise, assist and service customers on insurance and risk matters to promote customers’ satisfaction
Reinsurance Recovery & Accounts Specialist employer: Chaucer
Contact Detail:
Chaucer Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reinsurance Recovery & Accounts Specialist
✨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 Chaucer's values and how they align with your skills. This will help you stand out and show that you're genuinely interested in the position.
✨Tip Number 3
Practice your responses to common interview questions. Use the STAR method (Situation, Task, Action, Result) to structure your answers. This will help you articulate your experiences clearly and effectively.
✨Tip Number 4
Don’t forget to follow up after your interview! A simple thank-you email can leave a lasting impression and shows your enthusiasm for the role. Plus, it keeps you on their radar as they make their decision.
We think you need these skills to ace Reinsurance Recovery & Accounts Specialist
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Reinsurance Recovery & Accounts Specialist role. Highlight relevant experience and skills that match the job description, like your knowledge of reinsurance processes and customer relationship management.
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 background makes you a perfect fit. Don’t forget to mention your understanding of the insurance industry and your commitment to customer satisfaction.
Showcase Your Attention to Detail: In this role, attention to detail is key. When filling out your application, double-check for any typos or errors. This shows us that you take pride in your work and understand the importance of accuracy in reinsurance activities.
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates from us during the hiring process.
How to prepare for a job interview at Chaucer
✨Know Your Numbers
As a Reinsurance Recovery & Accounts Specialist, you'll be dealing with calculations and financial data. Brush up on your numerical skills and be prepared to discuss how you handle premium adjustments and profit commission calculations. Being able to demonstrate your analytical abilities will impress the interviewers.
✨Understand the Industry
Familiarise yourself with the reinsurance landscape, especially the specifics of excess of loss, proportional, and facultative accounts. Showing that you understand the nuances of these terms will not only showcase your knowledge but also your genuine interest in the role.
✨Communication is Key
You'll need to manage relationships with customers, agents, and service providers. Prepare examples of how you've successfully communicated complex information or resolved queries in the past. This will highlight your ability to foster positive relationships and ensure customer satisfaction.
✨Be Ready for Compliance Questions
Since compliance is crucial in this role, expect questions about how you ensure adherence to deadlines and regulations. Think of specific instances where you’ve managed compliance effectively, and be ready to discuss how you would handle customer complaints or issues that arise.