Premium Technician (FTC)

BMS Group; Greater London; Hybrid; GBP 30,000 - 40,000; Full time

Job summary

A leading insurance firm is seeking a Premium Technician for a 12-month fixed term contract in London. The role involves managing all aspects of premium processing and adhering to departmental procedures. Essential qualifications include at least 2 years in a similar position and strong premium accounting experience. Candidates must demonstrate effective communication skills and the ability to work collaboratively with various teams. This position offers a hybrid working model combining remote work with in-office responsibilities.

Qualifications

• Minimum 2+ years experience in a similar role.
• Premium accounting experience is essential.
• Understanding of principles of Insurance/Reinsurance.

Responsibilities

• Complete risk profiles within Management systems.
• Produce and sign necessary documentation.
• Liaise with other departments and solve problems.

Skills

Communication skills

Technical knowledge

Team collaboration

Problem-solving

Education

5 GCSEs grade C or above or equivalent

Tools

MS Word

MS Excel

Eclipse/Sequel

Job description

Position Title: Premium Technician – Fixed Term Contract (12 months)

Reports to: Central Operations Team Leader

Location: London (Hybrid)

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 for the period of 12 months FTC.

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 2+ 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