At a Glance
- Tasks: Administer premium finance agreements and ensure accurate payment processing.
- Company: Join Lycetts Insurance Brokers, part of the Benefact Group, in Newcastle.
- Benefits: Competitive salary, hybrid working, generous leave, and career development support.
- Other info: Enjoy a supportive environment with opportunities for professional growth.
- Why this job: Be part of a team that values detail and delivers exceptional service.
- Qualifications: Experience in financial administration and strong numerical skills required.
The predicted salary is between 30000 - 40000 £ per year.
Working hours: 35 hours per week, Monday to Friday
Duration: Permanent
Location: Newcastle Upon Tyne
About The Role
Lycetts Insurance Brokers, proudly part of Benefact Group, is looking for an Insurance Finance Administrator to join our Newcastle office. At Lycetts, we’re known for our specialist expertise and exceptional service, and we’re looking for a detail‑focused individual to support our premium finance function.
As an Insurance Finance Administrator you'll be responsible for the accurate and timely administration of premium finance arrangements within our insurance broking business. You’ll ensure finance agreements are set up correctly, payments are processed and reconciled efficiently, and queries are handled promptly. Your role will help maintain strong cash flow, data integrity, and compliance, while delivering a high‑quality service to both colleagues and clients.
What You’ll Be Doing
- Administer premium finance agreements from initial setup through to settlement
- Ensure accurate input and maintenance of premium finance data on broking systems
- Process and reconcile premium finance payments and lender statements
- Monitor client payment activity and support arrears and cancellation processes in line with policy
- Respond to queries from broking teams, finance, and premium finance providers
- Support month‑end and periodic reconciliations relating to premium finance accounts
- Maintain accurate records and documentation in line with audit and regulatory requirements
- Support the production of management information where required
- Adhere to FCA requirements, Treating Customers Fairly (TCF), and internal procedures
- Contribute to continuous improvement of premium finance processes and controls
What You’ll Need to Have
- Experience handling reconciliations, payments, or financial administration
- Strong numerical and data‑handling skills
- High attention to detail and accuracy
- Good organisational skills with the ability to manage routine deadlines
- Clear and professional communication skills
- Ability to follow procedures and elevate issues appropriately
What Makes You Stand Out
- Experience in a premium finance, credit control, or insurance finance environment
- Basic understanding of insurance premium finance products and processes
- Experience working in a regulated environment
- AAT (or working towards) desirable but not essential
- Competent user of broking systems (e.g. Acturis) and Microsoft Excel
- Awareness of FCA regulation relevant to premium finance
What We Offer
- A competitive salary – let's discuss it
- Hybrid working available upon successful completion of probation
- Employer pension contribution of 5% rising to 10% after 5 years membership of the pension scheme
- Annual Bonus scheme (Discretionary based on individual and company performance)
- Life Assurance cover up to 4× salary, and Group Income Protection scheme up to 65% of salary
- 25 days annual leave plus bank holidays (rising to 26 and 27 for 5 and 10 years’ service respectively)
- Career development opportunities with funded support and financial incentives for all professional qualifications.
- An Employee Assistance Programme with a wide range of benefits helping employees to stay healthy and feel supported.
About us
Lycetts Group has over 60 years’ experience providing a comprehensive range of insurance, risk management and financial advice to commercial and private clients. Benefact Group is a unique international financial services Group made up of over 30 businesses, owned by a charity. We welcome applications from everyone.
Insurance Finance Administrator in Newcastle upon Tyne employer: Lycetts
Lycetts Insurance Brokers, part of the Benefact Group, is an exceptional employer located in Newcastle Upon Tyne, offering a supportive work culture that prioritises employee well-being and professional growth. With competitive salaries, hybrid working options, and a commitment to career development through funded qualifications, we ensure our team members thrive in their roles while enjoying a healthy work-life balance. Join us to be part of a company that values integrity, service excellence, and community impact.
StudySmarter Expert Advice🤫
We think this is how you could land Insurance Finance Administrator in Newcastle upon Tyne
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Lycetts). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Lycetts. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Insurance Finance Administrator in Newcastle upon Tyne
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Lycetts.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Lycetts. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Lycetts
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Lycetts to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Lycetts, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Lycetts's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
