Reinsurance Operations Specialist

4 weeks ago

London, Greater London, United Kingdom CNA Hardy Full time

Job Overview

We are seeking a skilled Reinsurance Technician to join our team at CNA Hardy. This role will provide operational support to the CNA / Hardy Ceded Reinsurance function, ensuring post-placement activities are conducted promptly and accurately.

Main Responsibilities

  • Contract Management: Entering and updating contract details in policy administration systems (Subscribe and Senator).
  • Premium Payments: Responsible for ensuring premium payments are paid effectively and on time in the area of responsibility, including authority to agree payments via LORS and internal processes.
  • Claim Recovery: Responsible for identifying, calculating, and accounting for recoverable claims.
  • Account Servicing: Identifying and servicing run-off and legacy accounts.
  • Special Settlements: Issuing large special settlement requests as required.
  • Team Collaboration: Supporting and collaborating with Underwriting, Reserving, Finance, Claims teams.
  • External Communication: External communication with Brokers and Reinsurers to advise and secure settlement of premiums and recoveries.
  • Debt Management: Monitoring and managing aged debt in the area of responsibility.
  • Facultative, Proportional, and Excess of Loss Processes: Providing assistance with facultative, proportional, and excess of loss processes as required by the team.
  • LORS and USM Processing: LORS and USM processing.
  • Special Projects: Responsible for special projects as requested by the RI Operations Manager.
  • System Implementation: Involvement in new system implementation if appropriate.
  • Department Representation: Representing the department in internal and external meetings.

Specific Responsibilities

  • Proportional Reinsurance: Responsible for managing proportional reinsurance contract processes, including policy rules and entries, calculation and rendering of statements, managing reinsurer queries, and other processes.
  • Excess of Loss Reinsurance: Responsible for managing excess of loss reinsurance contract processes, including policy entry, claims collections, dealing with underwriter queries, premium allocations and payments, premium adjustment calculations, and other processes.
  • Periodic Returns: Calculating and submitting periodic returns for various national reinsurance pools.

Requirements

  • Lloyd's and London Market Knowledge: Understanding of Lloyd's and London market.
  • Reinsurance Experience: 2 to 3 years' experience of working for a Lloyd's Syndicate and/or Company market in a ceded reinsurance role.
  • Reinsurance Knowledge: Experience and thorough understanding of ceded Reinsurance.
  • Communication Skills: Ability to communicate effectively.
  • Relationship Building: Ability and confidence to build internal/external relationships.
  • Microsoft Office and Excel Skills: Good working knowledge of Microsoft Office software with advanced Excel skills.
  • Attention to Detail: Attention to detail, willingness to understand and enhance processes.
  • Reinsurance Systems Knowledge: Good working knowledge of Market Outwards Reinsurance Systems, with knowledge of policy administration systems Subscribe, Senator, and/or XLRAS would be advantageous.

Personal Qualities

  • Continuous Learning: Continuously learning; taking responsibility for own career development.
  • Innovation: Innovative; seeking and introducing practical solutions to challenges.
  • Collaboration: Collaborative; high degree of ability to work with others as part of a team.
  • Accountability: Accountable; ensuring high degree of personal organisation and delivery of tasks.
  • External Focus: Externally Focused; possessing a professional and service-focussed approach.

Company Description

CNA Hardy is a leading specialist commercial insurance provider for clients within the Lloyd's and company markets. We are part of CNA Financial Corp, the 8th largest U.S. commercial property and casualty insurance company. Established in 1897, CNA has approximately 5,700 employees, serving businesses and professionals in the U.S., Canada, and Europe. We offer a wide range of products and services, providing a superior suite of insurance solutions that any organisation conducting business requires.

CNA Hardy is an equal opportunity employer.

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