Account Maintenance

• Engages in general management of reinsurance contract documentation including drafting slips, cover notes, binders (record of reinsurance arrangements pending the issue of a formal reinsurance contract).
• Assists in ensuring accurate data inputs are promptly uploaded in the reinsurance system modules
• Arranges proper reinsurance protection as and when required.
• Processes and assists in the calculation of reinsurance premiums (provide conditions for a certain predetermined threshold to be met before the reinsurer becomes liable).
• Follows up with broker/ceding company for timely submission of closing and accounting documents as well as for settlement of premium from ceding companies and recovery of claims from reinsurers.Client Relationship Management
• Works on Facultative and Treaty Accounts (an agreement between the insurer and the reinsurer, which stipulates technical particulars).
• Negotiates terms with reinsurance companies.
• Provides support to technical team in coordination to the queries from brokers or reinsurers.
• Leads the maintenance of the global treaty programs.Coverage Advice
• Coordinates with reinsurance brokers for the placement of each and every declaration to the appropriate reinsurance arrangement.
• Obtains all necessary underwriting information required to place the risk in the international /regional/local reinsurance market.
• Evaluates risks within a portfolio and the potential liability to the reinsurer from indemnifying an insurer.
• Prepares credit and debit notes. Check that the reinsurer is not in breach of the conditions of its reinsurance contracts.
• Processes and records details of reinsurance claims. Produces statistical reports on claims.
• Aids in preparing proof of loss which are to be sent to brokers and reinsurers for collection of payment.
• Assists in the reviewing of reinsurance contract wordings.
• Prepares periodic premium, exposures and commitment report of the Quota Share Treaty to the Brokers.
• Monitors claims when raised by the System.

Field of Study

• Finance/Economics/Business/Commerce/Insurance

Academic Qualifications and Relevant Experience

Qualification Level

High School Diploma

Bachelor’s Degree

Master’s Degree

Doctorate

Experience

5-8 years

2 years

Nature of Experience

• Direct experience in reinsurance placement and/or brokerage.
• Excellent computer skills required, specifically MS Office (Word, Excel, PowerPoint)
• Strong analytical and communication skills (both oral and written)

Professional Certifications (as applicable)

• Those with qualification such as the Chartered Insurance Institute (CII) certificate would be a definite advantage