Outwards Reinsurance Technician

Hiscox; Colchester; Hybrid; GBP 40,000 - 55,000; Full time

Job summary

Hiscox is seeking an Outwards Reinsurance Technician to join their welcoming team in Colchester. This permanent role involves managing Outwards Reinsurance processes while collaborating with various internal teams and external brokers.

The ideal candidate should have experience in Reinsurance, strong IT skills, and the ability to manage workloads effectively. Hiscox promotes a hybrid working model that encourages a healthy work-life balance. Join us to build a brilliant future together!

Qualifications

• Experience in Outwards Reinsurance.
• Ability to manage own workloads.
• Team player.
• Good IT skills, including Excel.

Responsibilities

• Group RI calculations – facultative, excess of loss and Pro Rata.
• Advice / collecting notes sent to Brokers.
• Cover note processing and premium payment.
• Calculation of premium adjustments, profit commissions, sliding scale adjustments.
• Reporting – internal and external.
• Assist with system developments.

Skills

Experience in Outwards Reinsurance

Ability to manage own workloads

Team player

Good IT skills, including Excel

Education

ACII qualifications

Job description

Outwards Reinsurance Technician

Permanent

Build a brilliant future with Hiscox

Are you a team player? At Hiscox we all pull together to meet challenging deadlines across a diverse range of tasks to produce excellent results. We are hardworking, detail orientated and we thrive under pressure. If this sounds like you and you’re looking to work within a friendly and affable team based in Colchester then read on.

As a Reinsurance Technician you will work as part of a ‘close knit’ and very welcoming team, working on Outwards Reinsurance processes/recoveries/accruals for the Hiscox group. We are based in Colchester and we liaise with Reinsurance Purchase, Underwriters, MI, Claims and other internal teams, along with external brokers.

The work we do is very diverse as we deal with Reinsurance across the whole Hiscox Group. Our goal is to continue to meet all Quarter End deadlines and collect Reinsurance Recoveries as soon as possible. We aim to keep everyone happy, as well as ourselves!

Principal Duties and Responsibilities

• Group RI calculations – facultative, excess of loss and Pro Rata
• Advice / collecting notes sent to Brokers
• Cover note processing and premium payment
• Calculation of premium adjustments, profit commissions, sliding scale adjustments
• Reporting – internal and external
• Assist with system developments

Person Specification

• Experience in Outwards Reinsurance.
• Ability to manage own workloads.
• Team player
• Good IT skills, including Excel

Nice to have

• ACII qualifications.
• Experience of dealing with all types of Reinsurance.

About Hiscox

As an international specialist insurer, we are far removed from the world of mass market insurance products. Instead, we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We ensure the unique and the interesting. And we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong.

Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

Diversity and flexible working at Hiscox

At Hiscox we care about our people. We hire the best people for the job, and we are committed to diversity and creating a truly inclusive culture, which we believe drives success.

Working life does not always have to be in the office so we have introduced hybrid working to encourage a healthy work life balance.

This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other.

Work with amazing people and be part of a unique culture