Reinsurance Assistant at Britam

Job Purpose

Reporting to the Reinsurance Officer, The job holder shall assist in overseeing the various reinsurance arrangements including treaty and facultative reinsurance protection for all classes of business written by the company. He/She would also assist in implementation of the company’s reinsurance programme based on company’s objectives and maintain a business relationship with the Company’s underwriting and finance department and with the local, regional and international reinsurance market.

Responsibilities for the  Reinsurance Assistant Job

• Assist Analyze the risks accepted and ensure risks are ceded properly.
• Assist in ensuring Ensure that all acceptances are protected by proper reinsurance arrangement on a back to back basis without any gaps in risks accepted and reinsurance protection availed.
• Obtain all necessary underwriting information required to place the risk in the local reinsurance market.
• Assist in arranging proper reinsurance protection as and when required.
• Place reinsurance directly to the market or through the broker whether on facultative or any other basis depending on the need of the situation.
• Assist in the administration of the reinsurance program.
• Ensure timely submission of closing and accounting documents as well as for settlement of premium recovery of claims from reinsurers.
• Ensure accuracy of reinsurance contract with reference to original terms at which reinsurance is accepted.
• Maintain efficient communication lines between the company and brokers.
• Assist in Prepare reinsurance underwriting and claims statistics on a regular basis and update the same at periodic intervals as per requirement.
• Assist in Review reinsurance payments/recoveries relating reinsurance premium, commissioning and claims.
• Assist in preparation of Premium adjustments a and returns.
• Ensure prompt claims recovery.

Qualifications for the Reinsurance Assistant Job

• Business related University Degree (Insurance, Statistics or Accounts preferred)
• Professional Insurance qualification (ACII OR AIIK)
• At least 1-2 year experience in Reinsurance field.
• Knowledge of Reinsurance Treaty, Facultative wording and Reinsurance Slips preparation a distinct advantage.

Competencies 

• Good analytical skills
• Computer knowledge
• Ability to communicate effectively
• Good understanding of general Insurance products

Key Performance Indicators 

• Reinsurance performance
• Facultative business budget
• Timely security and risk placement
• Reinsurance claims recovery.

Key Skills/Specialization

• Business related University Degree (Insurance
• Statistics or Accounts preferred)
• Professional Insurance qualification (ACII OR AIIK)
• At least 1-2 year experience in Reinsurance field.