Reinsurance claims analyst job description

Job Responsibilities

• Collaboration with other Ceded Re team members to ensure appropriate ceded re placements are completed and documented
• Assist treaty managers with developing renewal strategy to be presented to ceded re leadership
• Coordinate with brokers, business division(s), corporate underwriting and actuarial department to identify and gather information necessary for each reinsurance treaty submission
• Management and organization of the data collection process, including testing and reconciliation of submission data
• Provide comprehensive analysis related to reinsurance purchase including but not limited to analysis of received quotes, quoting behavior, treaty structure, year on year changes in treaty cost, budget to actual treaty cost, contract wording, comparison of direct policy pricing vs. facultative pricing, etc
• Support treaty team in developing recommendations for treaty structures based on technical and strategic analysis of the reinsurance marketplace, with considerations for pricing, diversification of credit risk and long term reinsurance purchase strategy
• Plan & coordinate both externally and internally virtual reinsurance underwriting audits in conjunction with treaty renewals

Required Skills/Experience

• Technical knowledge relating to manipulation and calculations with large data sets in Excel
• Ability to work effectively in a team environment
• Ability to communicate effectively and to think strategically
• Ability to negotiate effectively
• Strong interpersonal communication and writing skills
• Strong organization and time management skills

Education

• Bachelor's degree required, business-related major preferred

The Company

Arch Insurance is a global insurer offering our clients superior coverage and service. We embody the Arch guiding principle of focusing on retaining experienced and talented employees to differentiate us from the rest of the pack. Our group operates from offices in the US, Canada, Bermuda, UK, and Australia, providing specialty risk solutions to clients worldwide across a wide range of industries. With nearly 20 years of operating history and strong financial ratings, our track record remains solid.

Arch Insurance employs a disciplined underwriting approach and prudent risk selection across all types of business. Our mission is to provide our insureds with superb coverage and claims handling through careful and diligent underwriting of risks and business-friendly solutions. Across our global operations, Arch Insurance employees are ready to meet your needs with professionalism and excellence.

Zurich North America is currently hiring a Senior Reinsurance Claims Analyst who will report to the manager of the Facultative Loss Team. This role will provide technical advice and leadership to the team responsible for the accounting and billing of facultative loss recoveries for Zurich's Group Reinsurance function (a global function). This person can work remotely.
What you will do:
Deal with complex facultative reinsurance coverage matters. Assist the facultative reinsurance accounting team to understand reinsurance structures and book losses accurately and address facultative loss issues. Work closely with the Senior Management providing guidance on reinsurance coverage matters and the net loss position for the Group. Manage reinsurance P & C claims with high value and complexity until full completion. Be responsible for the claim related activities associated with the collection of facultative reinsurance recoverables of the Group. Liaise with the Group's facultative reinsurers and communicate to them in a timely manner and with a high degree of professionalism. Develop strong business relationship with the facultative reinsurers based on transparency and trust. Provide technical advice to Senior Management, Reinsurance Managers, Reinsurance Accounting and other stakeholders within Group Re and within ZNA Business Units. Assist with managing arbitrations and litigations handled by internal or external Legal Counsel. Advocate for business efficiency and service quality, recognize opportunities for automating claims processes and work with the Business Development & Innovation Team on new digital solutions. Engage, participate and lead special projects, as needed.
Basic Qualifications:
Bachelor's Degree and 6 or more years of experience in the insurance claims area with exposure to the reinsurance business OR High School Diploma and 8 or more years of experience in the insurance claims area with exposure to the reinsurance business OR Zurich Certified Apprentice, including an Associate Degree and 6 or more years of experience in the insurance claims area with exposure to the reinsurance business AND Advanced knowledge of claims, reinsurance, and legal/coverage issues on direct and reinsurance claims for multiple lines of business Experience with Microsoft Office products
Preferred Qualifications:
Juris Doctor Advanced knowledge of claims, reinsurance, and legal/coverage issues on direct and reinsurance claims for multiple lines of business Member of the Bar Strong Microsoft Office skills Organizational skills Good analytical skills Strong verbal and written communication skills Ability to lead in a team environment Diversified claim experience
The salary range for this role is $106,320 to $132,900. This is the range Zurich NA in good faith believes is the range of possible compensation for this role at the time of the posting. This range is only applicable for jobs to be performed remotely in any US state. Base pay offered may vary depending on, but not limited to education, experience, skills, geographic location, travel requirements, sales or revenue-based metrics, and business needs. This range may be modified in the future. This job is also bonus eligible. No amount is considered to be wages or compensation until such amount is earned, vested, and determinable.

As a condition of employment at Zurich, employees must adhere to our COVID-related health and safety protocols ( ), including, without limitation, a requirement that employees attest as to their vaccination status with a YES/NO, and upload proof of vaccination status, or negative COVID test results when allowable, to a third-party vendor. These are continuously re-evaluated and the requirements may change at any time.

A future with Zurich

Now is the time to move forward and make a difference. At Zurich, we want you to share your unique perspectives, experiences and ideas so we can grow and drive sustainable change together. As part of a leading global organization, Zurich North America has over 148 years of experience managing risk and supporting resilience. Today, Zurich North America is a leading provider of commercial property-casualty insurance solutions and a wide range of risk management products and services for businesses and individuals. We serve more than 25 industries, from agriculture to technology, and we insure 90% of the Fortune 500 . Our growth strategy is not limited to our business. As an employer, we strive to provide ongoing career development opportunities, and we foster an environment where voices are diverse, behaviors are inclusive, actions drive equity, and our people feel a sense of belonging. Be a part of the next evolution of the insurance industry. Join us in building a brighter future for our colleagues, our customers and the communities we serve. Zurich maintains a comprehensive employee benefits package for employees as well as eligible dependents and competitive compensation. Please click
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As a global company, Zurich recognizes the diversity of our workforce as an asset. We recruit talented people from a variety of backgrounds with unique perspectives that are truly welcome here. Taken together, diversity and inclusion bring us closer to our common goal: exceeding our customers' expectations. Zurich does not discriminate on the basis of age, race, ethnicity, color, religion, sex, sexual orientation, gender expression, national origin, disability, protected veteran status or any other legally protected status. EOE disability/vet

Zurich does not accept unsolicited resumes from search firms or employment agencies. Any unsolicited resume will become the property of Zurich American Insurance. If you are a preferred vendor, please use our Recruiting Agency Portal for resume submission.

Location(s): AM - Schaumburg, AM - Remote Work (US)

Remote Working: Yes

Schedule: Full Time

Linkedin Recruiter Tag:

Senior Reinsurance Claims Specialist, Ceded Reinsurance Claims


Reporting to AVP Ceded Reinsurance Claims, Reinsurance Services, this position is responsible for the day to day reinsurance claim operations and complex accounts in North America. Independently responsible for accurately noticing, billing and collecting reinsurance.The ceded reinsurance billings are primarily proof billed but validation of all claims is required.Timely billings and collections of balances are a key element of the work.Provide accurate and complete billing packages; respond to reinsure and broker queries, resolve disputed claims and provide recommendations on compromised claims with a view to maximizes cash flow.The department provides business units and other constituencies with reliable and cost effective processing and reporting services.Other critical functions include a focus on process improvements, efficiencies and staff development.

Key Responsibilities:

• Ensure claims are reported timely and in accordance with the reinsurance contract terms
• Verify billings are completed timely and accurately
• Track, Monitor and Collect open ceded loss recoverable balances
• Report accurate status of billings and collections as required
• Manage SOX functions and audit testing (Internal/External)
• Support Chubb business units and interact with brokers/
• Proactively identify issues and recommend effective solutions
• Provide assistance with the monthly close process
• Assist in various training needs of the unit

Qualifications:

Preferred Qualifications:

• 10+ years of experience in direct/ceded reinsurance claim operations or similar role with a proven track record of success
• Excellent Excel skills
• Excellent written and verbal communication skills
• Ability to lead and/or adapt to operational, processing and resource changes
• Proficient in all Microsoft applications (Word, Access, PowerPoint, etc.)
• Demonstrated ability to collaborate with other units within the department, the company and reinsurance partners.