Premium Billing & Collections Specialist

Canopius; New York (NY); On-site; USD 60,000 - 70,000; Full time

Benefits offered by this job

Hybrid working

Competitive base salary

Non-contributory 401k

Discretionary bonus

Medical insurance

Dental insurance

Vision insurance

Job summary

Canopius is seeking a Premium Accounting Specialist to allocate broker payments to invoices, process payments, and support collections of past due premiums. The role partners with underwriting to resolve discrepancies and to ensure accurate postings in the billing system.

The position involves month-end activities, bordereaux preparation, and collaboration with the London broker. Strong Excel and insurance accounting experience are valued.

Qualifications

• 2+ years of insurance accounting experience.
• Knowledge of insurance policy administration and billing/accounting systems a plus.
• Math skills.
• Bookkeeping skills.
• Microsoft Excel skills.
• Ability to work in a team environment.
• Strong customer service skills.
• Strong interpersonal and written/verbal communication skills.
• Excellent interpersonal skills to effectively provide accurate and timely responses to internal and external customers.
• Ability to work effectively in a customer-oriented and team-based environment.
• Ability to quickly build relationships with underwriters and brokers and work closely with them to resolve policy discrepancies.
• Strong research and analytical skills.
• Ability to effectively prioritize daily work efforts.
• Ability to acclimate self to new systems quickly and proficiently.
• Ability to deal with time pressures and multiple priorities.

Responsibilities

• Match broker remittances to invoices.
• Review remittance details provided by brokers, confirm receipt of remittances in premium trust accounts and match remittances to invoices.
• Research and resolve premium discrepancies and coordinate with broker accounting staff and underwriting partners to resolve.
• Process payments in the Canopius billing/accounting system in the same month that they are received.
• Ensure payments are posted to the correct policy with the correct risk attributes.
• Continually monitor aging of receivables and elevate past due premiums to the appropriate underwriter.
• Work with the underwriter to pursue collections.
• Research all unapplied cash and provide Finance with a reason for each unapplied payment as of month end close.
• Generate the signed (premium) bordereaux after each month end.
• Provide the signed (premium) bordereaux to Finance and Central Broking Services.
• Request write offs and premium disbursements (refunds) as necessary.

Skills

Insurance accounting

Policy administration

Billing systems

Math skills

Bookkeeping

Microsoft Excel

Teamwork

Customer service

Interpersonal skills

Written/verbal communication

Relationship building

Research & analytics

Prioritization

Adaptability

Time management

Job description

Canopius is seeking a Premium Accounting Specialist to allocate broker payments to invoices, process payments, and support collections of past due premiums. The role partners with underwriting to resolve discrepancies and to ensure accurate postings in the billing system.

The position involves month-end activities, bordereaux preparation, and collaboration with the London broker. Strong Excel and insurance accounting experience are valued.