Reinsurance Specialist

Reinsurance Specialist

This role is responsible for managing reinsurance claims and collections within Reinsurance Finance and reports to the Head of Reinsurance Claims and Collections. The individual should have solid claim and ceded reinsurance experience for all insurance lines.  The candidate should also possess claim and ceded reinsurance experience managing, collecting and reporting on environmental, toxic tort, sexual molestation, and various other latency injury type claims.

Specific areas of responsibility include but are not limited to:

• Manage ceded reinsurance claims associated with unique reinsurance placements related to all reinsurance types for legacy and current business including captive programs.
• Monitor the sub-ledger and various reports to ensure claim and account queries from internal/external customers are promptly and properly addressed.
• Develop and maintain strong working relationships with reinsurers, brokers, intercompany departments, and vendors to resolve claim and collection concerns related to all lines of business.
• Investigate/research requests or questions from internal/external customers.
• Prioritize and collaborate with colleagues on various projects and initiatives.
• Provide guidance and recommendations on process improvements and transformation initiatives.
• Work with analytical teams (Actuarial, Accounting, IAG, etc.) to provide critical financial and claim data.
• Assist with the analysis, review and resolution of aged receivables impacting Schedule F and bad debt.
• Work with Reinsurance Finance staff and Collections management teams to conduct research into reinsurance recoverables and contribute towards completion of periodic reporting.
• Drive and enhance the collection of reinsurance recoverables.
• Participate and manage underwriting, financial and claim related audits.

Required Skills:

• 5+ years of reinsurance/insurance experience in Ceded Reinsurance collections and claims.
• Proven leadership skills.
• In-depth knowledge of loss allocations across multiple underwriting years and the application of claims to reinsurance that includes AP&H claims.
• Must be able to prioritize and manage multiple assignments or projects simultaneously and within established timelines.
• Strong understanding of reinsurance and insurance concepts for all reinsurance types.
• Proficient with information technology, particularly Microsoft office (Word, Excel, Power Point).
• Strong interpersonal and team orientated skills.
• Excellent organization and time management skills.
• Strong analytical skills to quickly identify, gather, and assess information.
• Ability to collaborate effectively with all levels of management and intercompany departments.
• Understanding of general accounting fundamentals and ability to reconcile complex reinsurance transactions.

For positions based in New Jersey, the base salary range is $81,000-$100,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits Overview.

Welcome to a culture of belonging.

We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions, and goals. We foster a culture of inclusion and belonging through our flexible work arrangements, diversity and inclusion learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The diversity of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability, or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities.  If you believe you need a reasonable accommodation, please send an email to [email protected].

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of inclusion

We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities.  If you believe you need a reasonable accommodation, please send an email to [email protected].  

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