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For Companies At a Glance
- Tasks: Manage and procure reinsurance contracts while optimizing risk transfer strategies.
- Company: Join Rokstone, a leading international underwriting MGA redefining insurance standards.
- Benefits: Enjoy a flexible benefits package tailored to your unique goals and ambitions.
- Why this job: Be part of a dynamic team that values collaboration, innovation, and continuous growth.
- Qualifications: Bachelor's degree in relevant fields and 3 years of reinsurance experience required.
- Other info: Hybrid work model with potential travel between London and Dubai.
The predicted salary is between 28800 - 43200 £ per year.
Outwards Reinsurance Purchasing Technician
Entity: Rokstone Underwriting
Location: London/Hybrid – 3 office days
Who We Are
Rokstone, part of the Aventum Group, is an established international underwriting MGA and approved Lloyd's of London coverholder, where we also hold a Lloyd's Box. With innovation at our core, we go beyond the ordinary to offer brokers specialised (re)insurance solutions. Within Rokstone, we house specialist MGAs such as Novus, iSure and iFarm, each contributing to our commitment to redefining industry standards.
Our people are at the heart of Aventum. Working together in dynamic, service-focused teams, we prioritise our customers in everything we do. Collaboration fuels our success, courage drives innovation, and continuous improvement keeps us ahead in a rapidly evolving industry. Our shared commitment is to revolutionise insurance for the better, one day at a time.
We also believe that investing in our people is investing in our future. By empowering people across the Group to develop their careers, advance within the Group, and embrace new challenges, we build an environment where growth and learning never stop.
Our competitive benefits package, offered via a flexible benefits platform, reflects this. Beyond core benefits, employees have the freedom to tailor their benefits to meet their individual needs and support their unique goals and ambitions.
Role Summary
The Outwards Reinsurance Purchasing Technician will be integral to managing and procuring reinsurance contracts to optimise risk transfer strategies and support the company's financial objectives. This role demands a deep understanding of reinsurance mechanisms, excellent negotiation skills, and the ability to work effectively in a fast-paced, global environment. Regular travel between London and Dubai may be required.
Role Accountabilities
- Reinsurance Procurement
- Assist in developing reinsurance programs that align with the company's risk appetite and financial goals.
- Negotiate terms and conditions of reinsurance treaties and facultative placements.
- Coordinate with brokers and reinsurers to secure optimal coverage and competitive terms.
- Data Management and Analysis
- Analyse data related to premiums, claims, and exposures to support reinsurance decisions.
- Prepare and maintain reinsurance placement and recovery reports.
- Evaluate the effectiveness of reinsurance arrangements and recommend adjustments.
- Stakeholder Engagement
- Collaborate with underwriting teams to gather insights on underwritten risks and their impact on reinsurance needs.
- Liaise with claims and finance departments to ensure smooth implementation of reinsurance coverages.
- Maintain strong relationships with brokers and reinsurers to enhance partnership opportunities.
- Compliance and Documentation
- Ensure all reinsurance contracts comply with local regulations and company policies.
- Document reinsurance transactions accurately and ensure they are audit-ready.
- Keep abreast of regulatory changes in both the London and Dubai markets that affect reinsurance activities.
- Market Research and Development
- Monitor reinsurance market trends and innovations to stay ahead in competitive environments.
- Participate in industry forums and workshops to expand professional network and increase industry knowledge.
- Any additional duties as assigned.
Role Requirements
- Bachelor's degree in Insurance, Finance, Business Administration, or related field.
- At least 3 years of experience in reinsurance, specifically in outward transactions.
- Proficient in the use of reinsurance software and data analysis tools.
- Strong negotiation and communication skills, with the ability to manage multiple stakeholder relationships.
- Legal right to work in the UK or UAE, as applicable.
Skills and Abilities
- Professional certification such as ARe, CPCU, or equivalent.
- Experience working in both the London and Dubai insurance markets.
- Proficiency in additional languages is advantageous.
Equal Opportunity Statement
We are an equal-opportunity employer, and we are proud to share that 93% of our employees say they can be themselves at work. We aim to hire our industry's finest people because the best people drive the best outcomes. We will forever challenge the status quo because we know there are always ways to improve things. Because together, we're limitless.
We value applicants from all backgrounds and foster a culture of inclusivity. We understand the need for flexibility, so we work with a hybrid model. Please let us know if you require any reasonable adjustments during recruitment.
FCA Conduct Rules
- You must act with integrity.
- You must act with due skill, care and diligence.
- You must be open and cooperative with the FCA, the PRA and other regulators.
- You must pay due regard to the interests of customers and treat them fairly.
- You must observe proper standards of market conduct.
- You must act to deliver good outcomes for retail customers.
Outwards Reinsurance Purchasing Technician employer: Rokstone Underwriting
Contact Detail:
Rokstone Underwriting Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Outwards Reinsurance Purchasing Technician
✨Tip Number 1
Familiarize yourself with the latest trends in the reinsurance market, especially those relevant to both London and Dubai. This knowledge will not only help you during interviews but also demonstrate your commitment to staying ahead in a competitive environment.
✨Tip Number 2
Network with professionals in the reinsurance field by attending industry forums and workshops. Building relationships with brokers and reinsurers can provide valuable insights and potentially lead to referrals for job opportunities.
✨Tip Number 3
Enhance your negotiation skills through practice and training. Since this role requires excellent negotiation abilities, showcasing your experience in managing stakeholder relationships effectively can set you apart from other candidates.
✨Tip Number 4
Stay updated on regulatory changes affecting the reinsurance sector in both the UK and UAE. Being knowledgeable about compliance will not only help you in the role but also show your proactive approach to understanding the industry's landscape.
We think you need these skills to ace Outwards Reinsurance Purchasing Technician
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Outwards Reinsurance Purchasing Technician position. Tailor your application to highlight relevant experience in reinsurance procurement and data analysis.
Highlight Relevant Experience: In your CV and cover letter, emphasize your experience in outward reinsurance transactions and any specific achievements that demonstrate your negotiation skills and ability to manage stakeholder relationships.
Showcase Your Skills: Make sure to mention your proficiency in reinsurance software and data analysis tools. If you have any professional certifications like ARe or CPCU, be sure to include them as they are highly valued for this role.
Tailor Your Cover Letter: Craft a personalized cover letter that reflects your understanding of Rokstone's values and commitment to innovation. Discuss how your background aligns with their mission to revolutionize insurance and your enthusiasm for contributing to their team.
How to prepare for a job interview at Rokstone Underwriting
✨Understand Reinsurance Mechanisms
Make sure you have a solid grasp of reinsurance concepts and mechanisms. Be prepared to discuss how these apply to the company's risk appetite and financial goals, as this will demonstrate your expertise in the field.
✨Showcase Negotiation Skills
Since negotiation is key in this role, come ready with examples of past negotiations you've successfully handled. Highlight your strategies and the outcomes to illustrate your effectiveness in securing optimal terms.
✨Familiarize Yourself with Market Trends
Research current trends in the reinsurance market, especially those relevant to both London and Dubai. Being able to discuss these trends will show your proactive approach and understanding of the competitive landscape.
✨Emphasize Collaboration and Communication
This role requires strong stakeholder engagement, so be prepared to talk about your experience working with various teams. Share specific examples of how you've built relationships with brokers and reinsurers to enhance partnerships.
