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For Companies At a Glance
- Tasks: Calculate reinsurance recoveries and manage billing processes while meeting deadlines.
- Company: Join an award-winning insurance business with a global presence and innovative products.
- Benefits: Enjoy hybrid working, a competitive bonus, and excellent progression opportunities.
- Why this job: Be part of a dynamic team, improve processes, and make a real impact in the insurance sector.
- Qualifications: Must have at least 2 years' experience in Treaty and/or Facultative Reinsurance.
- Other info: Opportunity to work on exciting projects and attend industry roundtables.
The predicted salary is between 36000 - 60000 £ per year.
Job Description
Located in the heart of London, with offices across the UK and internationally, our client are an award winning and ever-expanding specialist insurance business offering an extensive range of international niche and complex insurance products.
They are hiring within their Reinsurance Specialist Team of 12 for a Reinsurance Technician. This role will be responsible for a variety of aspects to include:
- Calculate reinsurance recoveries across Proportional and Non-Proportional Treaty and Facultative contract
- Plan effectively and manage own time to meet deadlines
- Assist with the collection of reinsurance asset through accurate calculation and issuance of recoveries, commutations and liquidation management techniques
- Implement procedures for accurately calculating the reinsurance asset and issuance of reinsurance recoveries
- Preparation and calculation of reinsurance billings and loss advices
- Record and answer technical queries raised by reinsurers and/or brokers
- Assist with Credit Control to ensure timely collection of outstanding balances
- Assist with and handle commutations as required, to ensure realistic values for the commutation of the company’s gross liabilities and ceded assets are achieved
- Attend large loss roundtables
- Suggest and implement process improvements
- Complete and report on projects as allocated
To be considered for this role, you’ll need to demonstrate at least 2 years’ experience working across Treaty and/or Facultative Reinsurance. In return, you’ll have the chance to work for a leading insurance company, work across the wider business, have some excellent progression opportunities, a market leading bonus and benefits package, and hybrid working.
Reinsurance Technician employer: Pavilion Recruitment Solutions
Contact Detail:
Pavilion Recruitment Solutions Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reinsurance Technician
✨Tip Number 1
Familiarise yourself with the latest trends and regulations in the reinsurance industry. This knowledge will not only help you during interviews but also demonstrate your commitment to staying updated in a rapidly evolving field.
✨Tip Number 2
Network with professionals in the reinsurance sector, especially those who work in similar roles. Attend industry events or join relevant online forums to connect with potential colleagues and learn about unadvertised job opportunities.
✨Tip Number 3
Prepare for technical interviews by brushing up on your knowledge of proportional and non-proportional treaty structures. Be ready to discuss specific examples from your past experience that showcase your skills in calculating recoveries and managing reinsurance assets.
✨Tip Number 4
Showcase your problem-solving abilities by thinking of process improvements you could suggest during the interview. This proactive approach can set you apart from other candidates and demonstrate your potential value to the team.
We think you need these skills to ace Reinsurance Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your relevant experience in Treaty and Facultative Reinsurance. Use specific examples to demonstrate your skills in calculating reinsurance recoveries and managing deadlines.
Craft a Strong Cover Letter: Write a cover letter that showcases your understanding of the role and the company. Mention your experience with reinsurance calculations and any process improvements you've implemented in previous roles.
Highlight Relevant Skills: In your application, emphasise skills such as time management, technical query resolution, and credit control. These are crucial for the Reinsurance Technician role and will set you apart from other candidates.
Proofread Your Application: Before submitting, carefully proofread your application for any errors or inconsistencies. A well-presented application reflects your attention to detail, which is vital in the insurance industry.
How to prepare for a job interview at Pavilion Recruitment Solutions
✨Know Your Reinsurance Basics
Make sure you have a solid understanding of both Proportional and Non-Proportional Treaty and Facultative contracts. Be prepared to discuss how these concepts apply to the role and provide examples from your past experience.
✨Demonstrate Time Management Skills
Since the role involves planning effectively and managing your own time, be ready to share specific instances where you've successfully met deadlines. Highlight any tools or techniques you use to stay organised.
✨Prepare for Technical Queries
Anticipate questions related to technical queries raised by reinsurers and brokers. Brush up on common issues and think about how you would address them, showcasing your problem-solving skills.
✨Showcase Process Improvement Ideas
The company values process improvements, so come prepared with suggestions based on your previous roles. Think about what worked well and what could be enhanced in the reinsurance processes you've encountered.
