At a Glance
- Tasks: Process and reconcile insurance premiums while ensuring accuracy and compliance.
- Company: Join a leading Global Lloyd's Broker with a strong reputation.
- Benefits: Gain valuable experience in the insurance industry with potential for career growth.
- Other info: Opportunity to work in a fast-paced environment with professional development.
- Why this job: Be part of a dynamic team that supports key financial transactions in insurance.
- Qualifications: Attention to detail and strong communication skills are essential.
The predicted salary is between 30000 - 40000 £ per year.
Role Overview
Our Client, a Global Lloyd's Broker, are now looking to expand their team with a Processing Technician. The Technician is responsible for the accurate processing, reconciliation, and settlement of premium transactions within a Lloyd’s Broker environment. This role ensures timely and precise handling of premium accounting activities across multiple classes of business, supporting both internal stakeholders and external partners including underwriters, insurers, and clients.
Key Responsibilities
- Process insurance premiums, return premiums, and adjustments in accordance with market practices and internal procedures
- Checking and processing MRC Slips and Endorsements
- Manage bordereaux and statements, ensuring completeness and accuracy of data
- Reconcile premium accounts, identifying and resolving discrepancies promptly
- Liaise with brokers, underwriters, insurers, and clients to resolve queries and outstanding balances
- Monitor aged debt and credit, supporting collection and settlement activities
- Ensure compliance with Lloyd’s market requirements and internal controls
- Maintain accurate records within relevant systems and ensure audit trails are complete
- Support month-end and year-end close processes, including reporting and analysis
- Assist with system improvements and process optimisation initiatives
Insurance Technician - Professional & Financial Lines employer: Nashrock Recruitment
As a Global Lloyd's Broker, our company offers an exceptional work environment that prioritises accuracy and collaboration in the insurance sector. Employees benefit from a supportive culture that encourages professional growth through continuous training and development opportunities, while also enjoying a dynamic workplace located in the heart of the financial district. Join us to be part of a team that values precision and fosters strong relationships with industry partners, ensuring a rewarding career path in the insurance industry.
StudySmarter Expert Advice🤫
We think this is how you could land Insurance Technician - Professional & Financial Lines
✨Tip Number 1
Network like a pro! Reach out to people in the insurance industry, especially those working with Lloyd's Brokers. 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 knowledge of premium processing and reconciliation. We want you to show off your skills and understanding of market practices, so practice common interview questions related to these areas.
✨Tip Number 3
Don’t forget to follow up after interviews! A quick thank-you email can keep you fresh in their minds and shows your enthusiasm for the role. Plus, it’s a great chance to reiterate why you’re the perfect fit for the team.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we often have exclusive roles listed there that you won’t find anywhere else.
We think you need these skills to ace Insurance Technician - Professional & Financial Lines
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the role of Insurance Technician. Highlight your experience with processing, reconciliation, and premium transactions, as these are key for us in this position.
Showcase Relevant Skills:Don’t forget to showcase your skills in managing data accuracy and resolving discrepancies. We want to see how you can contribute to our team by ensuring compliance and maintaining records.
Be Clear and Concise:When writing your cover letter, be clear and concise about why you’re a great fit for the role. Use specific examples from your past experiences that relate to the responsibilities listed in the job description.
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss any important updates!
How to prepare for a job interview at Nashrock Recruitment
✨Know Your Numbers
As an Insurance Technician, you'll be dealing with a lot of figures. Brush up on your knowledge of premium transactions and reconciliation processes. Be ready to discuss how you've handled similar tasks in the past, and don’t shy away from sharing specific examples.
✨Understand Market Practices
Familiarise yourself with Lloyd’s market practices and internal procedures. This will not only show your commitment but also help you answer questions more confidently. Research common challenges faced in the industry and think about how you would tackle them.
✨Communication is Key
You’ll be liaising with various stakeholders, so practice articulating your thoughts clearly. Prepare for questions about how you’ve resolved discrepancies or managed queries in previous roles. Think of examples that highlight your ability to communicate effectively with brokers, underwriters, and clients.
✨Show Your Problem-Solving Skills
In this role, you'll need to identify and resolve discrepancies promptly. Be prepared to discuss situations where you've successfully navigated challenges. Use the STAR method (Situation, Task, Action, Result) to structure your answers and demonstrate your problem-solving abilities.
