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- Tasks: Administer reinsurance recovery activities and manage premium adjustments.
- Company: Join a leading Lloyd's underwriter known for its inclusive culture.
- Benefits: Enjoy a generous benefits package and a friendly work environment.
- Why this job: Be part of a dynamic team making an impact in the insurance sector.
- Qualifications: Experience in reinsurance and strong analytical skills required.
- Other info: Located in the vibrant City of London with a competitive salary.
The predicted salary is between 28000 - 36000 £ per year.
This job description provides a good overview of the Reinsurance Technician role, including responsibilities and company context. However, it is somewhat disorganized and inconsistent in formatting. To improve readability, I will organize it with proper HTML tags, clearly separate sections, and ensure the content is concise and relevant.
Below is the refined version:
Reinsurance Technician – City of London
Our client, a leading Lloyd’s underwriter with an excellent market reputation, offers a dynamic, friendly, and inclusive working environment with a generous benefits package. They are seeking an experienced Reinsurance Technician to join their team in the City of London.
Role Overview
The main purpose of this role is to administer reinsurance recovery activities for a syndicate and an insurance company, as well as to provide renewal information to assist in purchasing reinsurance coverage.
Responsibilities
- Manage reinsurance recoveries for excess of loss, proportional, and facultative accounts.
- Calculate, issue, and monitor reinsurance collection notes according to contract terms.
- Handle premium adjustments, profit commissions, and NCB calculations.
- Manage collection and payment of recoveries and premiums, including aged debt management.
- Ensure compliance with month/quarter-end deadlines of the Reinsurance Administration Department.
- Produce risk and claim bordereaux to support reinsurance accounts.
- Prepare renewal presentation information.
- Respond promptly to broker/reinsurer queries.
- Administer cover notes and record reinsurance information into in-house systems.
- Review tasks completed by outsourcing partners.
- Assist with project work, including testing and implementing new software and processes, and release testing of current systems.
- Review and update procedure manuals accurately and timely.
Details:
- Date: 13 Feb 2025
- Sector: Insurance
- Type: Permanent
- Location: London
- Salary: £35,000 – £45,000 per annum
- Contact: brian@taylorjamesresourcing.com
- Ref: BT431
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Reinsurance Technician employer: Taylor James Resourcing
Contact Detail:
Taylor James Resourcing Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reinsurance Technician
✨Tip Number 1
Familiarise yourself with the key responsibilities of a Reinsurance Technician. Understanding the nuances of reinsurance recoveries, premium adjustments, and compliance deadlines will help you speak confidently about your relevant experience during interviews.
✨Tip Number 2
Network within the insurance industry, particularly with professionals who work in reinsurance. Attend industry events or join online forums to connect with others in the field, as personal referrals can significantly boost your chances of landing an interview.
✨Tip Number 3
Stay updated on the latest trends and changes in the reinsurance market. Being knowledgeable about current events and how they impact the industry will demonstrate your commitment and passion for the role during discussions with potential employers.
✨Tip Number 4
Prepare specific examples from your past work that showcase your skills in managing reinsurance accounts and handling queries. Having these anecdotes ready will allow you to illustrate your expertise effectively when asked about your experience.
We think you need these skills to ace Reinsurance Technician
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of a Reinsurance Technician. Familiarise yourself with key terms and processes mentioned in the job description, such as reinsurance recoveries, premium adjustments, and compliance deadlines.
Tailor Your CV: Customise your CV to highlight relevant experience and skills that align with the role. Emphasise any previous work in reinsurance or related fields, and ensure your achievements are quantifiable to demonstrate your impact.
Craft a Compelling Cover Letter: Write a cover letter that not only expresses your interest in the position but also showcases your understanding of the company and its values. Mention specific aspects of the job description that excite you and how your background makes you a great fit.
Proofread Your Application: Before submitting, carefully proofread your application materials for any spelling or grammatical errors. A polished application reflects attention to detail, which is crucial for a role that involves managing complex financial information.
How to prepare for a job interview at Taylor James Resourcing
✨Understand the Role
Make sure you have a solid grasp of what a Reinsurance Technician does. Familiarise yourself with key responsibilities like managing reinsurance recoveries and handling premium adjustments. This will help you answer questions confidently and demonstrate your knowledge.
✨Prepare Relevant Examples
Think of specific examples from your past experience that showcase your skills in reinsurance administration, such as managing collections or responding to broker queries. Use the STAR method (Situation, Task, Action, Result) to structure your responses effectively.
✨Research the Company
Learn about the company’s reputation in the market and their working environment. Understanding their values and culture can help you tailor your answers and show that you’re a good fit for their team.
✨Ask Insightful Questions
Prepare thoughtful questions to ask at the end of the interview. Inquire about the team dynamics, ongoing projects, or how success is measured in the role. This shows your genuine interest in the position and helps you assess if it’s the right fit for you.
