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- Tasks: Manage reinsurance contracts and collaborate with senior stakeholders in a dynamic insurance environment.
- Company: Growing insurance operation offering a collaborative and professional culture.
- Benefits: Gain exposure to senior leadership and contribute to operational excellence.
- Why this job: Take your career to the next level in a high-profile role with broad technical responsibilities.
- Qualifications: Experience in reinsurance processing and strong Excel skills required.
- Other info: Opportunity for professional growth and development in a supportive team.
The predicted salary is between 36000 - 60000 £ per year.
An exciting opportunity has arisen for an experienced Reinsurance Technician to join a growing and dynamic insurance operation. This role offers broad exposure across reinsurance operations, close collaboration with senior stakeholders, and hands-on involvement in treaty management, bordereaux processing and reinsurer engagement. Working closely with the Reinsurance Purchasing Manager you will play a key role in ensuring the accurate recording, configuration and ongoing management of reinsurance contracts, cessions and claims recoveries, supporting timely and high-quality interactions with reinsurers.
The Role
- Configuring reinsurance contracts accurately and efficiently within the reinsurance management system, working closely with Finance on technical and financial accounting requirements
- Processing and validating risk, premium and claims transactions in line with contractual service levels
- Loading insurance transactions accurately within agreed timescales and resolving any system or data errors
- Ensuring reinsurance transactions are correctly processed and reconciled to cash movements
- Producing accurate cession and claims bordereaux for reinsurers within contractual deadlines
- Liaising directly with reinsurers to support reporting, settlement and service level delivery
- Escalating unresolved issues appropriately to senior stakeholders
- Supporting monthly compliance and quality assurance reviews
- Assisting with reinsurance performance meetings and renewal preparation
- Contributing to the development and maintenance of robust, documented reinsurance processes
- Collaborating with senior leaders across underwriting, risk, operations and finance to support effective reinsurance integration
- Cross-training to support processing within the bordereaux management system as business demands require
About You
- Recent, hands-on experience processing ceded reinsurance within the insurance industry
- Strong knowledge of XOL and Quota Share treaty structures, wordings and accounting practices
- Solid understanding of reinsurance treaty cession and claims recovery processes
- Experience working with bordereaux processing and reconciliation
- Familiarity with cash loss, funds withheld and collateralisation concepts
- Strong Excel capability, including lookups, tables and formulae
- Experience in a delegated underwriting and claims environment
- Exposure to reinsurance management systems
- Knowledge of the London Market, Bermuda and international markets
- Exposure to delegated underwriting processing
Why Apply?
- High-profile role with exposure to senior leadership
- Broad technical remit across reinsurance operations
- Opportunity to contribute to process development and operational excellence
- Collaborative and professional working environment
If you are a detail-driven Reinsurance Technician looking to take the next step in your career, we would be keen to hear from you.
Reinsurance Technician employer: Tower Street Insurance Recruitment Limited
Contact Detail:
Tower Street Insurance Recruitment Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reinsurance Technician
✨Tip Number 1
Network like a pro! Reach out to industry professionals on LinkedIn or at events. A friendly chat can lead to opportunities that aren’t even advertised yet.
✨Tip Number 2
Prepare for interviews by researching the company and its reinsurance operations. Show us you know your stuff about treaty management and bordereaux processing!
✨Tip Number 3
Practice your responses to common interview questions, especially around your experience with XOL and Quota Share treaty structures. Confidence is key!
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. We’re excited to hear from you!
We think you need these skills to ace Reinsurance Technician
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Reinsurance Technician role. Highlight your hands-on experience with ceded reinsurance and any relevant treaty structures you've worked with. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about reinsurance and how your background makes you a great fit for our team. Don't forget to mention your familiarity with bordereaux processing and reconciliation.
Show Off Your Excel Skills: Since strong Excel capability is key for this role, make sure to mention any specific projects or tasks where you've used advanced Excel functions. We love seeing candidates who can handle data like pros!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, it shows us you're keen on joining our dynamic team!
How to prepare for a job interview at Tower Street Insurance Recruitment Limited
✨Know Your Reinsurance Basics
Make sure you brush up on your knowledge of XOL and Quota Share treaty structures. Being able to discuss these concepts confidently will show that you understand the core of the role and can engage with senior stakeholders effectively.
✨Showcase Your Excel Skills
Since strong Excel capability is a must, prepare to demonstrate your skills during the interview. Bring examples of how you've used lookups, tables, and formulae in past roles, as this will highlight your technical proficiency.
✨Prepare for Scenario Questions
Expect questions about how you would handle specific reinsurance transactions or issues. Think through scenarios related to bordereaux processing and reconciliation, and be ready to explain your thought process and problem-solving approach.
✨Engage with the Interviewers
Don’t hesitate to ask questions about the company’s reinsurance processes and how they collaborate across departments. This shows your interest in the role and helps you gauge if the company culture aligns with your values.
