Ceded Reinsurance Technician
The Hartford
Ceded Reinsurance Technician
The Hartford
Sells business insurance and employee benefits
We’re determined to make a difference and are proud to be an insurance company that goes well beyond coverages and policies. Working here means having every opportunity to achieve your goals – and to help others accomplish theirs, too. Join our team as we help shape the future.
This role will be based in London, UK and you are required to have the necessary right to work details prior to application.
Purpose of the job
To work within the Hartford Ceded team under moderate supervision to handle reinsurance claims, various accounting functions, ceding, reporting, billing and /or collection and correspondence. To assist with monthly, quarterly and year-end reporting and analysis. To work as part of a team to meet both internal and external reporting deadlines.
A key aspect of this role is the responsibility to identify, issue and book Reinsurance claims to our RI Brokers for Facultative, Quota Share and Excess of Loss RI types.
Reporting Relationships
Reports directly to Ceded Reinsurance Manager.
Works in close co-operation with team colleagues in both UK and US.
Continue to develop and maintain relationships with multiple functions across the business including Actuarial, Finance, Underwriting, Operations and Claims to continue to add value to our BAU tasks.
Job Responsibilities & Competence
XOL Administrative Support: Provide administrative support to the reinsurance team, including maintaining daily / monthly processing tasks such as:
Performs basic to moderately difficult calculations, accountings, reconciliations, and reporting. Identifies and investigates out-of-balance transactions. Actively manages the resolution of basic correspondence and assigned reinsurance balances.
Leverages proficiency in technical/functional skills to execute all basic reporting, collection, correspondence, and financial transactions appropriately with consistent adherence to reinsurance practices and protocols.
Develops and maintains productive working relationships with both internal and external partners including Brokers, Reinsurers, Cedents, Legal, Accounting, Actuarial, Direct Claims, Underwriting, Operations, vendors and/or IT, in order to achieve the most favorable outcomes.
Daily review and administration of SCM movements
Work with Claim Ops to ensure accurate Event Coding
Perform Outwards Reinsurance data collection, premium payment processing, claim notifications, and recovery documentation.
Responsible for inventory of reinsurance treaties and document reinsurance conditions. Review Reinsurance slips, premium allocations, and cover notes issued by brokers and reinsurers.
Update Outwards Reinsurance Policy documentation as needed.
Participates in process improvement initiatives as part of a team. Maintains workflow and reference documentation.
Identify potential risks related to reinsurance activities.
Review and analysis of monthly claim bordereaux
Calculate and issue Syndicate loss numbers for any shared loss.
Maintain static claim register – provide periodic updates to RI / Broker
Review monthly reports to identify any potential new recoverable losses.
Review the minor currency losses that fall below the SCM thresholds.
Maintain Credit Control files to assist with Management Reporting and improve timeliness of debtor recovery.
Perform credit control on outwards RI collections.
Other Duties
The job description is intended to describe the main duties only. Job holders are expected to maintain flexibility and perform all other reasonable duties that relate to the job as assigned by The Hartford.
Qualifications and Capabilities
Degree in a relevant field preferred.
Progress toward or completion of a recognised insurance qualification (e.g., CII) is advantageous.
Proficient in compliance, regulatory matters, systems, and programs.
Proactive mindset with a willingness to challenge and improve existing processes.
Excellent MS Office skills, particularly Excel.
Detail-oriented with the ability to multitask.
Team player with strong interpersonal skills.
Ability to analyse data and provide concise summaries or recommendations.
Effective stakeholder management, including interaction with senior management teams internally and externally.
Innovative and creative, with a willingness to bring new ideas to improve processes.
Ability to establish credibility and maintain high ethical standards.
Excellent communication skills for interacting with clients, employees, and management.
Problem-solving mindset to identify issues and develop creative solutions.
Experience
Experience in the reinsurance sector is highly desirable.
Solid grasp of basic reinsurance contracts, coverage, financial transactions, reporting, collections and other reinsurance related matters.
Demonstrated ability to collaborate and work effectively with others.
Sells business insurance and employee benefits
The Hartford sells insurance to businesses and individuals, covering property, liability, workers' compensation and auto risks, along with group disability, life and paid-leave benefits that employers offer their staff. Its business unit insures everything from local shops to large corporations and writes specialty coverage in the United States and abroad, while its personal unit sells car and home policies to individual customers. Agents, brokers and direct channels sell the policies, and the company earns money from premiums and from investing them before claims are paid. Its oldest insurer was founded in 1810, and the company is based in Hartford, Connecticut.
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