Associate Director - Reinsurance Claims

Howden UK Brokers; Edina (MN); On-site; USD 90,000 - 130,000; Full time

Job summary

Howden Re, a global reinsurance broker, is seeking an Associate Director to lead the claims function for our clients. The role involves working with external clients/reinsurers and internal broker teams to deliver superior analytics and service.

You will manage loss notices, review treaty terms, oversee loss calculations, and process claims in our accounting and claims systems. A minimum of 4+ years in reinsurance intermediary claims is required.

Qualifications

• Bachelor's Degree in a related field.
• 4+ years of Reinsurance Intermediary Claims experience.
• Proficient with Microsoft Office products.
• Must be authorized to work in the U.S.

Responsibilities

• Maintain relationships with brokers, clients, and reinsurers to ensure high levels of client service.
• Receive loss notices, loss status updates and proofs of loss and forward to reinsurers.
• Confirm coverage under treaty and review contract wording for retention and limits.
• Prepare or review loss calculations for contract term compliance.
• Process claims transactions in accounting and claims systems.
• Track reinsurer settlements and forward funds to clients.

Skills

Relationship management

Communication

MS Office proficiency

Education

Bachelor's Degree

Tools

Microsoft Office

Job description

Howden Re is the global reinsurance broker and risk, capital & strategic advisor focused on relentless innovation & superior analytics for top client service.

About Role

Howden Tiger is the global reinsurance broker and risk, capital, & strategic advisor focused on relentless innovation & superior analytics for top client service. Our Accounting and Claims team is looking for an Associate Director level hire who has 4+ years of experience handling the reinsurance claims function for our clients. This would include working with our external Clients/Reinsurers and internally with our Broker Teams .

Primary Responsibilities

• Proactively maintain relationships with brokers, clients, and reinsurers to ensure clear communication and deliver the highest level of client service
• Receive initial loss notices, loss status updates and proofs of loss from clients and forward to applicable reinsurers.
• Confirm coverage under treaty; review contract wording for retention & limit, LAE treatment, loss reporting requirements, loss attachment basis, etc.
• Prepare / review loss calculations to ensure accuracy and compliance with contract terms
• Process claims transactions in accounting and claims system
• Track the status of reinsurer settlements, periodically following for payment as necessary; promptly forward collected funds to client
• Attendance at client claims audits as needed
• Perform all reinsurance claims functions for selected client accounts and provide backup coverage for other accounts as needed
• Review new contract wordings for key terms and input into the system of record
• Monitor and diary claims reporting and request updates from clients on stale claims
• Prepare reporting forms and adjustment calculations for client use as needed
• Assist Clients with calculation of their Schedule F funding requirements and obtain Letters of Credit from Reinsurers, ensuring that all beneficiary requirements are met, and documents are received prior to company deadline
• Work with other departments to promptly forward all funds to payees in a timely manner
• Monitor approval status of reinsurers and obtain approval of new reinsurers as needed
• Assist in the maintenance of reinsurer database
• Assist with and/or lead training for new hires on topics such as systems, reinsurance concepts, claims, etc.
• Experience in multiple lines of business is a plus, including but not limited to: property; long-tail casualty such as workers compensation, commercial general liability, professional liability, etc.; specialty; excess and surplus lines; etc.

Qualifications

• Bachelor's Degree
• 4+ years of Reinsurance Intermediary Claims Experience
• Proficient with Microsoft Office Products,
• Must be authorized to work in the U.S.