Technical Insurance Operations Assistant

SOMPO; London; On-site; GBP 35,000 - 55,000; Full time

Job summary

An established industry player is seeking a Technical Insurance Operations Assistant to join their dynamic team in London. This role is integral to supporting operational processes in the insurance sector, particularly in ceded facultative reinsurance administration. The ideal candidate will bring experience in insurance operations, strong organizational skills, and a collaborative spirit. With a commitment to employee growth and development, this company offers expansive health benefits and generous retirement plans. If you are looking to make a significant impact in a supportive environment, this opportunity is for you.

Benefits

Health & Wellness Benefits

Retirement & Savings Plans

Parental Leave

Adoption Assistance

Qualifications

• 2+ years in a Technical (Re)Insurance role preferred.
• Strong administrative abilities and multitasking skills.

Responsibilities

• Assist in monitoring premium accounting entries for accuracy.
• Support timely submission of reinsurance accounts and policy data.

Skills

Insurance Operations

Communication Skills

Organizational Skills

Microsoft Office 365

Reinsurance Knowledge

Education

Bachelor’s Degree

Professional Qualifications (CII)

Tools

SAP Reinsurance Management

Guidewire Policycenter

ImageRight

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 within the UK Global Markets business.

We are a leading London Market Insurance company seeking an experienced Technical Insurance Operations Assistant for our London office. The role involves supporting operational and administrative processes, especially related to ceded facultative reinsurance administration in UK Insurance Operations.

Location: This position is based in our London office. We foster a collaborative work environment where employees can thrive and build long-term careers.

What you’ll be doing:

1. Assist the Technical Insurance Operations Lead in creating and monitoring controls to verify the accuracy of premium accounting entries, complying with financial standards including Sarbanes-Oxley.
2. Support timely submission of Facultative Reinsurance accounts and Inwards Insurance policy data, considering financial controls, contractual terms, regulatory requirements, and service level agreements.
3. Interpret contract wording from various insurance documents such as certificates, binders, slips, declarations, bordereaux, and endorsements.
4. Understand ceding hierarchy based on the Facultative Reinsurance structure and interpret related contract wording.
5. Ensure proper allocation of Facultative premium data in the financial sub-ledger.
6. Reconcile Facultative results with Ceded Reinsurance Accounting to ensure agreement with reinsurance contracts.
7. Maintain accurate records of Facultative tasks in the company's financial system.
8. Manage the Facultative shared mailbox and record queries.
9. Act as a liaison between Underwriting and Ceded Reinsurance Accounting for inquiries from reinsurers and brokers.
10. Follow up with Underwriters for policy documentation and assist with due diligence on policy data.

What You’ll Bring:

• Experience in an Operations/Technical role within the Insurance industry (London/International Markets).
• Preferably 2 years’ experience in a Technical (Re)Insurance role.
• Excellent communication and organizational skills.
• Flexibility, team orientation, and strong administrative abilities including prioritization and multitasking.
• Self-motivated with the ability to manage workload independently.
• Proficiency in Microsoft Office 365 and knowledge of key (re)insurance systems such as SAP Reinsurance Management, Genius, Guidewire Policycenter, and ImageRight (preferred but not essential).
• Bachelor’s Degree (preferred) and progress in professional qualifications like Chartered Insurance Institute (preferred).

Our Benefits:

[See Addendum for specific countries/states]

We regularly review and update our benefits to meet employee needs. Highlights include:

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

Our Values:

We aim to create value for clients and shareholders while maintaining an inclusive, diverse workplace. We oppose racism, bigotry, prejudice, and injustice, and invest in fostering an equitable environment.

About Us:

Sompo is a global provider of property, casualty, and specialty insurance and reinsurance, with over 130 years of experience. We are committed to simplifying your risk management journey through expertise and dedication. Our 9,000+ employees worldwide work to deliver tailored solutions and insights. When you choose Sompo, you choose expertise made easy.

Learn more at www.sompo-intl.com