Premium Technician

BMS Group; City Of London; On-site; GBP 35,000 - 45,000; Full time

Job summary

A leading insurance and reinsurance firm in London is seeking a Premium Technician. The role involves handling all aspects of premium processing, including risk profiling and financial documentation. Candidates should possess at least 5 years of experience in a similar position and strong accounting skills. The firm values effective communication and teamwork while ensuring compliance with company policies.

Qualifications

• 5 years experience in a similar role is required.
• Understanding of Insurance/Reinsurance principles needed.
• Ability to produce accurate documentation consistently.

Responsibilities

• Complete risk profiles within management systems.
• Produce documentation for Lloyd’s/Lirma market.
• Deal with client queries and ensure prompt payment.

Skills

People management experience

Premium accounting experience

Effective communication

Technical knowledge

Education

5 GCSE’ grade C or above (or equivalent)

Tools

MS Word

Excel

Eclipse/Sequel

Job description

Overview

Position Title: Premium Technician

Reports to: Central Operations Team Leader

Location: London

Summary of Position: To deal with all aspects of Premium processing as directed by your Head of Department. Adhere to the departmental procedures & service level agreements.

Key Responsibilities & Accountabilities

• Completing risk profile within Management systems
• Producing, signed lines, confirmation of placement and Invoicing FATCA forms
• Create and maintain files
• Process and monitor incoming post/emails
• Produce and forward documentation to Lloyd’s/Lirma market via A&S
• Sending closing to Company Markets
• Assess and process premium movements
• Diary for quarterly and yearly adjustments if required
• Lors entries
• Complete premium payment warranty calendar entries
• Obtain agreement to premium bordereaux, where required
• Deal with market and/or client queries and liaise with the accounts department to ensure prompt payment of balances
• Liaise with other departments when problems arise
• Carry out various departmental ad hoc tasks and reports
• Maintain statistical data
• Adhere to company and regulatory policies & procedures together with mandatory training requirements.
• Adhere to financial reporting requirements including monthly phasing of income.

Functional & Behavioural Competencies required

• 5 GCSE’ grade C or above (or equivalent)
• People management experience
• An understanding of principles of Insurance/Reinsurance
• Knowledge of Eclipse/Sequel would be beneficial, but not essential
• At least 5 years experience in similar role
• Premium accounting experience essential
• A&S (IMR) Lors entries
• Communicates clearly and effectively both verbally and in writing
• Wide ranging technical knowledge
• Understanding of the FCA and their requirements
• Strong working knowledge of MS Word and Excel
• Ability to produce accurate and complete documentation consistently
• Ability to effectively contribute to the team and interact with others
• Personally demonstrate the five BMS values and ensure that team members are aligned with these:

1. Accountable
2. Entrepreneurial
3. Collaborative
4. Empowering
5. Disciplined