Technical Insurance Operations Assistant

Sompo International; London; On-site; GBP 30,000 - 50,000; Full time

Job summary

An established industry player is seeking a Technical Insurance Operations Assistant to join their dynamic team in London. This role involves supporting operational processes related to ceded facultative reinsurance administration. You will ensure the accuracy of premium accounting entries and maintain essential records while collaborating with various teams. The company values integrity and collaboration, offering a supportive work environment that fosters career growth and development. Join a forward-thinking organization that prioritizes employee well-being and inclusivity, and contribute to a team dedicated to simplifying complex insurance challenges.

Benefits

Health & Wellness Benefits

Retirement & Savings Plans

Global Parental Leave

Adoption Assistance

Qualifications

• 2+ years in a Technical (Re)Insurance role preferred.
• Strong communication and organizational skills are essential.
• Experience in Operations within the Insurance industry is crucial.

Responsibilities

• Assist in monitoring premium accounting entries for accuracy.
• Ensure timely submission of reinsurance accounts and policy data.
• Act as liaison between Underwriting and Ceded Reinsurance Accounting.

Skills

Operations/Technical experience in Insurance

Oral communication skills

Written communication skills

Organizational skills

Ability to prioritize and multi-task

Self-starter

Flexibility and team-oriented

Independent thinking

Education

Bachelor's Degree

Professional qualifications (e.g., Chartered Insurance Institute)

Tools

Microsoft Office 365

SAP Reinsurance Management (FS-RI)

Genius

Guidewire Policycenter

ImageRight document management

Job description

As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.

Job Description

Are you looking for your next opportunity?

Sompo has a unique opportunity for a Technical Insurance Operations Assistant in our Insurance Operations team in our UK Global Markets business.

Leading London Market Insurance company, actively looking for an experienced Technical Insurance Operations Assistant for our London office. The role will assist in the operational and administrative processes particularly in relation to ceded facultative reinsurance administration in UK Insurance Operations.

Location: This position will be based out of our London office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.

Our business, your impact, our opportunity:

What you’ll be doing:

• Assist Technical Insurance Operations Lead with creating and monitoring the controls required to verify the completeness and accuracy of premium accounting entries in line with appropriate financial accounting standards including but not limited to Sarbanes-Oxley Financial Controls Disclosure Requirements.
• Assist Technical Insurance Operations Lead to ensure Facultative Reinsurance accounts and Inwards Insurance policy data are submitted in a timely fashion, considering appropriate financial controls, contractual terms and conditions, regulatory requirements, and internal business requirements and service level agreements.
• Interpret contract wording from Inwards and Facultative Reinsurance certificates, Binders, Slips, Declarations, Bordereaux, and Endorsements.
• Understand Ceding hierarchy based upon the Facultative Reinsurance structure and layering provided by Underwriting. In addition, interpret contract wording from the underlying Insurance policy.
• Interpret Facultative premium data to ensure proper allocation of Facultative premium is recorded accurately in the financial sub-ledger.
• Ensure accuracy of data, including coordination of reconciliation of the Facultative results with the Ceded Reinsurance Accounting to confirm that the Facultative Reinsurance results agree to the terms of the Facultative Reinsurance agreements purchased by Underwriting.
• Maintain accurate records and recording of Facultative Tasks allocated to Insurance Operations for capturing in the company’s financial system.
• Maintain Facultative shared mailbox and record queries.
• Act as liaison between Underwriting and Ceded Reinsurance Accounting for Facultative Reinsurance questions and enquiries from Reinsurers and Brokers.
• Following-up with Underwriters for policy documentation.
• Assisting with due diligence on Facultative Reinsurance and Inwards Insurance policy data.

What you’ll bring:

• Previous experience in an Operations/Technical-orientated role within the Insurance industry (London/International Markets)
• 2 years’ experience in a Technical (Re)Insurance role is preferred
• Excellent oral communication, written communication, and organizational skills
• Candidate must be flexible; team-oriented and have strong administrative skills that include ability to prioritise and multi-task
• Self-starter, able to manage and prioritize your workload
• Ability to think independently and work effectively and collaboratively as part of the Insurance Operations function
• Proficient in Microsoft Office 365 (Excel, Outlook, PowerPoint, Word)
• Working knowledge of key (re)insurance policy administration systems – particularly SAP Reinsurance Management (FS-RI), Genius, Guidewire Policycenter, and ImageRight document management (Preferred but not essential)
• Bachelor’s Degree (Preferred)
• Good progress with professional qualifications, e.g., Chartered Insurance Institute (Preferred)

Our Benefits

We continuously evaluate and update our benefit programs to ensure that our plans meet the needs of our employees and their dependents. Below are a few highlights of our inclusive benefit programs:

• Expansive Health & Wellness Benefits
• Generous Retirement & Savings Plans
• Global Parental Leave & Adoption Assistance

In today’s world, what do we stand for?

We strive to create exceptional value for our clients and shareholders while maintaining Sompo as an attractive place to work. We foster an environment of ongoing, open dialogue between managers and their direct reports, and believe in an organizational environment where everyone belongs. We proudly are a multi-racial, multi-cultural, global enterprise. We reject all forms of racism, bigotry, prejudice and injustice and continue to invest in building out an inclusive and diverse work environment.

About Us

Expert Partners.
Clarity in complexity.
Unwavering commitment.

We’re Sompo, a global provider of property, casualty, and specialty insurance and reinsurance. Building on Sompo Holdings’ 130 years of innovation, we’re committed to applying all of our experience to simplify yours.

Our dedication to you shows up in the care we put in every detail, working to create a frictionless risk management journey for everyone we serve.

We lead with your priorities, meticulously crafting solutions, sharing insights, and understanding your needs.

Around the world, our 9,000+ employees use their expertise to learn, improve and find clear answers for your complex challenges.

Because when you choose Sompo, you choose the ease of expertise.

To learn more about visit our website at www.sompo-intl.com