T

Trean

Specialty P&C insurer and service provider

Program Operations Accounting Manager

Full-Time
$85k - $95k/yr
Mid
Bachelor's
Wayzata, MN, USA
In Person
AccountingFinancial Accounting

About the job

Requirements
  • A bachelor's degree in accounting or a related field, or equivalent experience.
  • At least 3 years of experience in insurance and reinsurance accounting.
  • Progressive accounting responsibility.
  • Experience troubleshooting and resolving accounting and data issues.
  • Working knowledge of insurance systems for policies and claims is preferred.
  • Ability to handle and resolve conflicts professionally and tactfully.
  • Excellent oral and written communication skills.
  • Attention to detail and organizational skills.
  • Accountability, comfort making recommendations, and taking responsibility for outcomes.
  • Working knowledge of accounting and reporting systems such as Microsoft GP, Microsoft Power BI, and Prospero.
  • Knowledge of best internal control practices and GAAP and STAT policies.
  • Ability to meet deadlines in a fast-paced, multi-priority environment, independently and as part of a team.
  • Computer skills, including knowledge of Microsoft Office.
  • Advanced Excel skills, including INDEX-MATCH and OFFSET formulas, Pivot Tables, Power Pivot, Power Query, and reading and writing macros.
Responsibilities
  • Manage accounting and finance tasks for due diligence and onboarding new programs.
  • Assist the Data Team in evaluating data feeds to and from programs.
  • Participate in external onboarding calls and meetings.
  • Ensure the general ledger, program codes, and experience reports are set up on time.
  • Ensure applicable bank accounts are set up and funded appropriately.
  • Train program accountants and ceded accountants on program structure and setup.
  • Maintain and update program documentation, including process flows.
  • Support accounting on program accounting memos.
  • Coordinate the monthly close task list for Program Partners and resolve related issues.
  • Assist with escalated communications with customers or vendors on accounting issues, including outstanding receivables.
  • Work with the internal accounting auditor to maintain accounting accuracy and efficiency.
  • Use standard reporting tools and validate new reporting tools as needed.
  • Collaborate with accounting team members and the broader accounting team on Program-related activities.
  • Collaborate with the data warehouse team on monthly tasks.
  • Work with external auditors, partners, and internal staff to complete requests.
  • Perform other activities, duties, and assignments as needed or requested.

About the company

Trean Insurance Group serves the specialty property and casualty market by providing underwriting, issuing carrier services, and a suite of risk management solutions. It collaborates with program partners and managing general agencies, offering third-party claims administration, insurance management services, and reinsurance placement and consulting. Revenue comes from underwriting fees, premium income, and fees for claims administration and consulting. Its goal is to deliver tailored, scalable specialty insurance solutions by applying deep insurance expertise to meet the needs of specialty insurers, reinsurance firms, and other niche clients.

Company Size

11-50

Company Stage

IPO

Headquarters

Wayzata, Minnesota

Founded

1996

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Simplify's Take

What believers are saying

  • Trean’s Benchmark Specialty kept an A.M. Best A rating through 2025, supporting distribution.
  • Trean’s Origami Risk implementation lowered administration costs and improved policy, billing, and claims control.
  • Trean’s 2022 surplus-note financing strengthened Benchmark capacity for new programs and reinsurance placements.

What critics are saying

  • Trean’s 2023 Altaris take-private triggered fiduciary lawsuits that continue damaging governance credibility.
  • Trean remains structurally dependent on workers’ compensation, leaving earnings exposed to line-specific pricing pressure.
  • A Trean carrier loss or reserve shock would hit the holding company’s capital and growth plans immediately.

What makes Trean unique

  • Trean built an integrated workers’ comp platform across Benchmark, 7710, and American Liberty.
  • Trean completed Origami Risk rollout in all 50 states by 2023, speeding claims operations.
  • Trean’s 2026 website highlights insurance management, reinsurance consulting, and third-party TPA services.

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Benefits

  • Remote Work Options
  • Hybrid Work Options

Growth & Insights and Company News

Headcount

6 month growth

23%

1 year growth

18%

2 year growth

18%
Business Wire
Apr 10th, 2024
Trean Streamlines Workers’ Comp Operations Across U.S. With Origami Risk’S Core Suite

WAYZATA, Minn.--(BUSINESS WIRE)--Trean Insurance Group (TIG), a full-service property and casualty insurance and reinsurance company delivering comprehensive insurance solutions through its family of highly rated and broadly licensed insurance companies—Benchmark, 7710, and American Liberty—has successfully completed the implementation of Origami Risk’s multi-tenant core property and casualty solution suite. This milestone marks a significant transformation for Trean's monoline workers’ compensation business, enhancing policy administration, billing, and claims functionality across its nationwide operations. The implementation enables Trean to consolidate multiple databases and systems into a single platform, fulfilling their commitment to excellence, efficiency, and reliability to meet the evolving needs of their clients. Completed in two phases, Trean went live with Origami’s claims solution in all 50 states in only eight months, followed by the implementation of policy administration and billing functionality across 49 states by the end of the fourth quarter 2023. “The Origami solution is central to our organization’s goal of combining underwriting, claims, loss control, and analytical expertise to provide customized insurance for successful, long-lasting partnerships,” said Julie Baron, CEO, Trean. “A single platform for policy, billing, and claims provides Trean with increased control and autonomy over our core system while driving down administration costs and enhancing user experiences for our internal claims team and agent/broker partners.”

GlobeNewswire
Apr 21st, 2023
Altaris Completes Acquisition Of Trean Insurance Group

WAYZATA, Minn. and NEW YORK, April 21, 2023 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (“Trean” or the “Company”), a leading provider of products and services to the specialty insurance market, today announced the completion of the acquisition of the Company by funds managed by Altaris, LLC (collectively with its affiliates, “Altaris”) for $6.15 per share in cash. The transaction was announced on December 16, 2022 and received approval from stockholders on April 18, 2023. As a result, Trean’s common stock ceased trading and will no longer be listed on Nasdaq.“We are thrilled to begin the next chapter of Trean’s successful partnership with Altaris, which will continue to enhance our longtime focus on strong partnerships, underwriting discipline and exceptional claims management to generate long-term growth,” said Julie Baron, President and Chief Executive Officer of Trean. “Starting with their original investment in 2015, Altaris’s healthcare expertise and support have been critical in helping to drive our Company’s transformation to become a leading national provider of workers’ compensation and other specialty insurance services

GlobeNewswire
Dec 16th, 2022
Trean Insurance Group Announces Definitive Agreement To Be Acquired By Altaris Capital Partners

Trean Stockholders to Receive $6.15 Per Share in Cash, a Premium of Approximately 97%Company to Continue Growth Plan and Delivering Full Suiteof Insurance and Reinsurance ServicesWAYZATA, Minn. and NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (Nasdaq: TIG) (“Trean” or the “Company”), a leading provider of products and services to the specialty insurance market, today announced that it has entered into a definitive merger agreement with affiliates of Altaris, LLC (collectively with its affiliates, “Altaris”), which currently owns approximately 47% of Trean’s outstanding common stock. Under the terms of the agreement, Altaris will acquire all of the common stock that it does not currently own for $6.15 in cash per share, representing a 97% premium to Trean’s closing price on December 15, 2022, the last trading day prior to this announcement and a 133% premium to the 30-day volume-weighted average price per share of $2.64 as of December 15, 2022.Upon receiving a proposal from Altaris to acquire the Company, which was conditioned on approval by a special committee of independent and disinterested directors and by a majority of the voting power of unaffiliated stockholders, the Board of Directors formed such a Special Committee comprised solely of independent and disinterested directors to evaluate the proposal and alternatives thereto and make a recommendation to the Board of Directors. The Special Committee was advised by its own independent financial and legal advisors

Coverager
Aug 24th, 2022
Trean Increases Surplus With $50 Million Surplus Notes Offering

Trean Insurance Group , a provider of products and services to the specialty insurance market, announced that it has increased the surplus of its subsidiary Benchmark Insurance Company by completing a private offering of $50 million aggregate principal amount of its 6.75% Surplus Notes due August 2042. “We are pleased to further increase the Benchmark surplus with this offering. The addition of this $50 million is another important step towards Trean achieving our long-term financial goals.” – Julie Baron, President and Chief Executive Officer of Trean

GlobeNewswire
Aug 24th, 2022
Trean Insurance Group Increases Surplus with $50 Million Surplus Notes Offering

WAYZATA, Minn., Aug. 24, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group (Nasdaq: TIG) (“Trean” or the “Company”), a leading provider of products and...