Treaty Technicians
Excellent, Ipswich
Our Client is looking for experienced RI professionals to join their growing team.
Overall objective of the role:
To set up and maintain reinsurance treaties and to monitor a wide range of proportional and non-proportional reinsurance protections.
To ensure that all the reinsurance recoverable is collected, new losses must be identified and notified promptly to the correct treaty, so reinsurance data must be obtained, maintained and reviewed regularly.
This involves dealing with proportional and non-proportional treaties, quota share, excess of loss and facultative treaties.
Main responsibilities :
Set up and maintain reinsurance treaties to enable reinsurance claims to be made to the correct treaties and reinsurers.
Analyse and process reinsurance data to generate reinsurance recoveries and reserves.
Produce and process statements in respect of Proportional Treaties to enable Brokers to collect amounts owed and account to reinsurers with updated reserves etc.
Issue collecting notes on Non-Proportional Treaties to enable collection of amounts owed and to account to reinsurers with updated reserves etc.
Notify losses to reinsurers to inform them of liabilities that might be the subject of future collections
Process completed Commutation Deals & Finalised Schemes. Prepare schedules for processing ensuring that pro-rata entries per currency, per casualty, per treaty balance to totals to clear. Effect status changes to all relevant databases.
Provide information and data verification as may be requested by Commutations Team to ensure that accurate and timely information is available to support pricing.
Knowledge & skills required
• Good IT skills, particularly Excel
• Reinsurance experience, ideally both proportional and non-proportional, are calculated
• Knowledge of different types of reinsurance contract wordings
• An understanding of the main reinsured business and the issues in each class
Personal Skills
• Self-motivated and proactive
• Ability to work in a team environment
• Organised and professional approach to work
• Good written and verbal communication skills
• Analytical ability
