Reinsurance Officer

PURPOSE:

Reporting to the Reinsurance Manager, the role holder will support the business operations by working closely with the underwriting and claims departments. They will be responsible for placement of risks & recoveries from the reinsurers, reinsurance accounting and also handle reinsurance correspondences.

PRIMARY RESPONSIBILITIES:

SERVICE DELIVERY:

Ensuring adherence to company reinsurance practices, policy and guideline as per set guidelines

Responsible for ensuring the reinsurance programmes are arranged within required timelines and is in accordance with the agreed company standards

Ensuring the monthly budget from new business is achieved by marketing and increasing inward reinsurance business from other companies

Ensuring reinsurance treaty payments, renewal and making returns to the relevant authorities

Provision of monthly analysis for the various reinsurance programs and services currently available in the marketplace and administer their use within company

Timely treaty cessions on the underwriting and claims files when they are due

Preparing a monthly premium and claims (paid/ outstanding) summaries from reinsurance

Ensuring reinsurance claims recovery (making provisional loss notification, making cash calls for large claims, recovery of Kenya Re compulsory cessions claims on run off)

Ensure Production of quarterly payment returns and annual statements as per deadlines

Travel insurance management

Custom Bonds underwriting & Management

Bankers Blanket Bond underwriting & claims Management

Reconcile funds received from reinsurers vs cash book;

In liaison with the finance department, clean up the reinsurance recoveries receipts;

Track payments received from reinsurers;

Grow inward facultative business and collect premiums, through acquisition of new and retention of existing business;

Place all risks that are in excess of capacity;

Any other duty as may be given by the Reinsurance Manager

RECOVERIES ROLE:

Ensure timely treaty and facultative claims recoveries and as per the set timelines and budgets

Monitor the claims reinsurance register to ensure claims are correctly allocated into the relevant treaties;

Ensure new claims payments are immediately documented to the reinsurers;

Follow up with Treaty and Facultative reinsurers on claims recoverable;

Following up on receipting of all recoveries to the appropriate accounts and maintain up to date records of the same.

In liaison with the claims department, ensure claims payable to reinsurers (facultative) are registered and documented.

FACULTATIVE ROLE:

Managing facultative inward and outward business and preparing reconciliations for all businesses

Calling for payments of facultative accounts and calling for reinsurance treaty recoveries.

Seeking of facultative support for risks not covered under the scope of the treaty arrangements;

Follow up with facultative reinsurers on claims recoverable;

In liaison with the claims department, ensure claims payable to reinsurers (facultative) are registered and documented.

Key Skills, Knowledge, Experience and Behavioural Competencies

Academic and Professional Requirements

Education

Bachelor’s degree in Business, or a related field.

Professional Qualification Diploma in Insurance, ACII/AIIK (Mandatory)

Experience Required:

Description Required years of experience

Relevant Experience 5 years

Industries:Insurance

Function: Others