At a Glance
- Tasks: Lead insurance accounts and contracts, ensuring data integrity and strategic oversight.
- Company: Join a global reinsurer with a focus on innovation and collaboration.
- Benefits: Enjoy private medical insurance, generous holidays, and a strong pension scheme.
- Other info: Hybrid working model with opportunities for professional growth and learning.
- Why this job: Make a real impact in the insurance industry while developing your career.
- Qualifications: In-depth insurance knowledge and experience in operations and accounting required.
The predicted salary is between 60000 - 75000 £ per year.
Wise May are looking for a proactive, detail orientated Insurance Technical Accountant to join a Global Reinsurer. Within this role you will lead and oversee the administration of insurance accounts and contracts, engaging with internal operations teams and their outsourced underwriting and operations provider to deliver strategic oversight of data integrity across assigned Lines of Business. This is a full time, permanent position with hybrid working (3 days in the office / 2 remote) and the working hours are 9am-5pm.
Insurance Technical Accountant duties and responsibilities include:
- Lead and oversee the administration of insurance and reinsurance contracts for different lines of business.
- Responsible for the validation of facultative entries and risks in accounting and underwriting systems, maintaining high standards of data governance.
- Provide strategic oversight of data integrity across assigned Lines of Business whether managed internally or through outsourced partners.
- Oversee the correct input and audit of Terms & Conditions in the accounting system, implementing robust quality assurance protocols.
- Ensure completeness and accuracy in the recording of account and claims advices, driving accountability across teams.
- Serve as a senior liaison between Underwriting, Claims, brokers, cedents, and outsourced teams to resolve complex discrepancies and ensure alignment across stakeholders.
- Identify, document, and escalate issues related to outsourced deliverables, ensuring timely resolution and continuous improvement.
- Govern outsourced initiatives, ensuring adherence to contractual obligations, quality benchmarks, and delivery timelines.
- Analyse and interpret internal reports to monitor client accounts and performance metrics, providing actionable insights and strategic recommendations to senior stakeholders.
- Champion knowledge sharing and collaboration across internal teams and external partners, fostering a culture of transparency and continuous learning.
- Communicate effectively and constructively with staff and leadership, influencing outcomes and driving engagement.
- Lead the organisation and prioritisation of workload within the outsourced team, maintaining SLA compliance and proactively managing performance.
- Execute Internal Control System (ICS) checks in line with applicable guidelines and actively assist Underwriters in fulfilling these control requirements.
- Supervise the accuracy and complete documentation for underwriting, accounting, and claims within the Document Management System (DMS).
- Conduct payment sanctions and embargo screenings by reviewing relevant lists and escalate to Underwriting or Legal teams for further assessment when necessary.
- Serve as a key point of accountability for both internal and external audits, including those conducted by third parties and local regulatory bodies.
- Oversee cashflow activities, including the setup of client bank accounts within the accounting system.
- Ensure that Processing of incoming and outgoing payments is accurate and executed in a timely manner.
- Track and follow up on outstanding payments and unresolved balances related to the outsourced portfolio and designated contracts.
Insurance Technical Accountant skills and experience required:
- In-depth insurance and reinsurance expertise.
- Extensive knowledge of technical accounting, settlement processes, cash management, credit control and business reporting within the London Market.
- Demonstrable experience working in insurance operations, supporting underwriting teams.
- Previous experience working with outsourced service providers is highly beneficial.
- Proficient at building and maintaining trusted relationships across different business teams.
- Passionate about driving innovation and operational excellence.
- Proactive nature, with strong attention to detail.
Benefits:
- Private Medical Insurance
- Dental Insurance
- Critical Illness Insurance
- Pension - 5% Individual Contribution / 10% Employer contribution, which can be increased to 25% (maximum combined contribution)
- Death In Service
- Income Protection
- Holidays - 25 days which increase with service as well as having additional days off for special events and volunteering.
- Holiday Purchase Scheme - can buy and sell up to 5 days.
Locations
Insurance Specialist in City of London, London employer: Wise May Ltd
Wise May is an exceptional employer, offering a dynamic work environment where innovation and operational excellence are at the forefront. With a strong commitment to employee well-being, we provide comprehensive benefits including private medical and dental insurance, a generous pension scheme, and ample holiday allowances that increase with service. Our hybrid working model fosters a healthy work-life balance, while our culture of collaboration and continuous learning ensures that employees have abundant opportunities for professional growth and development.
