Reinsurance Technician

Acrisure, LLC; Greater London; On-site; GBP 40,000 - 55,000; Full time

Job summary

A leading re/insurance intermediary in London is seeking a Reinsurance Technician with substantial experience in contract processing for London Market Brokers. The role involves entering contracts and ensuring timely transaction processing while collaborating with brokers. The ideal candidate will possess strong analytical and communication skills, a thorough understanding of various contract types, and proficiency in Microsoft Office Suite. Join a dynamic team dedicated to achieving customer satisfaction in all operations.

Qualifications

• Significant experience processing contracts and premiums for a London Market Broker.
• Thorough understanding of quota share, excess of loss, binding authority contracts.
• Ability to calculate loss ratios and accurately allocate limits to losses.

Responsibilities

• Enter contracts and process transactions in the broker system.
• Handle multiple contract types including Excess of Loss and Quota Share.
• Ensure timely processing of underwriter payments.

Skills

Strong communication (written and verbal)

Analytical skills

Negotiation skills

Technical skills

Statistical analysis

Tools

Microsoft Office Suite

Job description

Reinsurance Technician page is loaded## Reinsurance Technicianlocations: 40 Leadenhall Street - LONDON, UKtime type: Full timeposted on: Posted Todayjob requisition id: JR112176## Acrisure Re is a leading re/insurance intermediary and corporate advisor/broker dealer, offering bespoke and innovative capital, risk, and program solutions. Our expert multi-disciplinary team leverage their combined experience, market data and leading analytics to provide the very best placement and execution strategies.**RESPONSIBILITIES:**The primary focus of the role will be entering of contracts and processing of transactions in the broker system for business placed by the London office. The candidate should have experience of reinsurance from contract input, invoicing and closing through London Market systems and procedures. The position requires the Reinsurance Technical Analyst to handle multiple contract types, such as, but not limited to, Excess of Loss, Quota Share and Facultative.* Support the Brokers and Account Managers in the London office by performing contract input and invoice production for London produced business.* Ensure all bureau and non-bureau underwriter payments are processed in a timely manner.* Report on status of contracts to ensure external and internal timelines are being met.* Work with brokers on contract language to ensure best practice in terms of closing to markets.* Respond to ad hoc queries or provide reports relating to contract and transaction status internally or externally.**EXPERIENCE REQUIRED:*** Possess a significant amount of experience processing contracts and premiums for a London Market Broker.* Possess a thorough understanding of quota share, excess of loss, binding authority and facility contracts and structures.* Have a good working knowledge of London Market A&S / LORS procedures for different contract types.* Comprehend complex wordings to determine applicable actions for warranties, cash losses, year-end adjustments, profits commissions and reinstatements.* Have the ability to calculate items in preceding bullet as well as loss ratios. Be able to accurately allocate limits and shares to losses.**SKILLS REQUIRED:*** Strong communication (written and verbal), analytical, diplomacy and negotiation skills with professionals within and outside the industry.* Excellent computer and technical skills. Working knowledge of Microsoft Office Suite (Word, Outlook, PowerPoint, an Excel)* Working knowledge of statistical analysis.* Ability to identify, recognise and escalate critical issues for resolution.* A general willingness to be flexible in work habits and assigned tasks.* Always demonstrate a positive and enthusiastic attitude.* Focused and detail oriented.* Highly organised and have excellent prioritisation skills.* Work well under stressful conditions, sometimes within tight timelines, to keep self and others focused, objective and effective in the face of pressure.* Influence others through positive action.* Be a team player and consistently keep relevant staff informed and updated.* Employ problem solving and decision-making abilities to resolve challenges quickly and creatively through appropriate courses of action.* Results oriented: Concentrate on activities necessary to achieve departmental and company goals.* Customer centred: Strive to attain a continual standard of 100% internal and external customer satisfaction in all areas.