Senior Assumed Reinsurance Technician

Sompo; Greater London; On-site; GBP 70,000 - 90,000; Full time

Job summary

Sompo, London-based, seeks a Senior Assumed Reinsurance Technician to join its Assumed Reinsurance team. The role focuses on inward proportional and non-proportional processing, reporting, and system updates under supervision of the AVP Assumed Reinsurance Accounting Supervisor.

You will manage inbox tasks, produce weekly/monthly/quarterly reports, collaborate with underwriters, brokers, cedants and claims, and contribute to process improvements while ensuring accuracy and timely close of

Qualifications

• Strong technical skills and ability to prioritize workload to meet deadlines.
• Understanding of general insurance and reinsurance principles is essential.
• Understanding & review profit commission/sliding scale calculations is essential.
• Understanding of Proportional Treaty claim handling and event claims is essential.
• Excel skills at intermediate level (Pivot tables & VLOOKUP).

Responsibilities

• Management of Inbox ensuring completion of tasks within agreed timeframes, liaising with other processing staff.
• Production and analysis of Weekly, Monthly & Quarterly reports as part of the close process.
• Collaborate with Internal and external clients to resolve queries or technical issues including Underwriters, Brokers, Cedants, Claims, IT, Operations, Finance and Credit Control.
• Ensure knowledge is kept up to date around new systems and procedures and provide training when requested.
• Collaboration with Claims Department on Inward Proportional treaty claims (inc event tracking).
• Amendments to UW risks in system as directed such as adding sliding scale templates.
• Participation in projects to enhance systems and ongoing processes with a view to finding efficiencies where possible.
• Provide resolutions to processing queries raised by team members.
• Undertaking Technical analysis and processing responsibilities incorporating complex Inward Proportional & Non- Proportional treaties.

Skills

Strong technical skills

General insurance & reinsurance

Proportional treaty claims

Excel Pivot tables

Tools

Genius

SAP Accounting

Imageright

Job description

Sompo has a unique opportunity for a Senior Assumed Reinsurance Technician in our Assumed Reinsurance team.

This team works within the Reinsurance Operations team and deals mainly with (inwards) Proportional business. This position reports to the Assistant Vice President, Assumed Reinsurance Accounting Supervisor.

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:

• Management of Inbox ensuring completion of tasks within agreed timeframes, liaising with other processing staff
• Production and analysis of Weekly, Monthly & Quarterly reports as part of the close process, including identification of anomalies and resolution (where possible)
• Collaborate with Internal and external clients to resolve queries or technical issues including Underwriters, Brokers, Cedants, Claims, IT, Operations, Finance and Credit Control
• Ensure knowledge is kept up to date around new systems and procedures and provide training when requested
• Collaboration with Claims Department on Inward Proportional treaty claims (inc event tracking)
• Amendments to UW risks in system as directed such as adding sliding scale templates
• Participation in projects to enhance systems and ongoing processes with a view to finding efficiencies where possible
• Provide resolutions to processing queries raised by team members
• Undertaking Technical analysis and processing responsibilities incorporating complex Inward Proportional & Non- Proportional treaties
• Process tasks/ necessary accounts accurately in an efficient manner within agreed timeframes
• Review & check accuracy of closings/documents of rendered accounts, cash calls, premium and loss reserve deposits; event claims management and tracking
• Review Lead LIRMA agreements for query/agreement via Brokers
• Demonstrate high level of attention to detail by producing exceptional quality and accurate technical data into the Underwriting system – ensuring the system is updated with accounting and payment information within agreed timeframes
• Timely investigation and resolution of challenging accounts is expected
• Collaboration with colleagues including participation in meetings when required
• Providing requested documentation following Audit requests
• Understanding of LOC/OCA process to include review and OCA processing where necessary.
• Ad hoc tasks as directed by your manager

What You’ll Bring

• Strong technical skills and ability to prioritize workload to meet deadlines
• Understanding of general insurance and reinsurance principles is essential
• Understanding & review profit commission/sliding scale calculations is essentialUnderstanding complex accounts such as clean-cut accounts (portfolio in and out) is essential
• Experience of month end report checks is desirable
• Experience of oversight/peer review is desirable
• 5+ years’ experience in a similar processing role within the Inward reinsurance market
• Understanding of Proportional Treaty claim handling and event claims is essential
• Good understanding of Bureau systems and procedures is desirable
• Knowledge of Property, Casualty, and Marine business classes are desirable but not essential
• Understanding of Genius and SAP Accounting system is desirable but not essential
• Knowledge of Imageright is desirable but not essential
• Excel skills at intermediate Level are essential (Pivot tables & VLOOKUP formula)

At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.

Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents.

Below is a summary of some of the benefits we offer, which may vary depending on the country:

• Health & Wellness Benefits
• Retirement & Savings Plans
• Global Parental Leave & Adoption Assistance
• Employee Assistance Program
• Tuition Reimbursement & Professional Qualification benefits

Who We Are And What Do We Stand For

At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity,we build trust and support one another to achieve our goals worldwide. Life at Sompo page

Our values come to life in how we hire and grow talent. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. If you need an accommodation for any part of the application process, please contact the recruiter in charge.