Reinsurance Officer at CIC Insurance

PURPOSE:

To support the business operations through supporting underwriting and claims departments in business. They will be responsible for placement of risks & recoveries from the reinsurers, reinsurance accounting and also handle reinsurance correspondences.

PRIMARY RESPONSIBILITIES:

• Grow inward facultative business and collect premiums, through acquisition of new and retention of existing business;
• Place all risks that are in excess of capacity;
• Any other duty as may be given by the Reinsurance Manager
• Ensure timely treaty and facultative claims recoveries and as per the set timelines and budgets
• Monitor the claims reinsurance register to ensure claims are correctly allocated into the relevant treaties;
• Ensure new claims payments are immediately documented to the reinsurers;
• Follow up with Treaty and Facultative reinsurers on claims recoverable;
• Following up on receipting of all recoveries to the appropriate accounts and maintain up to date records of the same.
• In liaison with the claims department, ensure claims payable to reinsurers (facultative) are registered and documented.
• Managing facultative inward and outward business and preparing reconciliations for all businesses
• Calling for payments of facultative accounts and calling for reinsurance treaty recoveries.
• Seeking of facultative support for risks not covered under the scope of the treaty arrangements;
• Follow up with facultative reinsurers on claims recoverable;
• In liaison with the claims department, ensure claims payable to reinsurers (facultative) are registered and documented.
• Travel insurance management
• Custom Bonds underwriting & Management
• Bankers Blanket Bond underwriting & claims Management
• Reconcile funds received from reinsurers vs cash book;
• In liaison with the finance department, clean up the reinsurance recoveries receipts;
• Track payments received from reinsurers;

 Academic and Professional Requirements

Education 

• Bachelor’s Degree in a relevant field,
• Computer literate in MS Office and other office applications 
• Qualification in relevant professional field – Diploma in Insurance, ACII/AIIK  

Experience Required:

• Relevant experience    3