Reinsurance Coverage Analyst

JOB SUMMARY:

Analyzes client facultative and treaty reinsurance contracts for review and entry into on-line systems. Analyzes contracts and identifies terms conditions exclusions and other attachment criteria at an advanced level. Constructs reinsurance profiles for policies involved in environmental asbestos or other long-tail exposures. Reconcile accounting open balances monthly to ensure aging balances get resolved. Process facultative ceded premium into the reinsurance system.

RELATIONSHIPS AND SCOPE:

Under the direct supervision of the Reinsurance Assistant Vice President. Operates within Chubb policies and procedures and service agreement parameters.

DUTIES AND RESPONSIBILITIES:

• Using established procedures determines facultative and treaty reinsurance using records obtained from business contract information into on-line system timely. Verifies system entry with certificate terms and conditions.
• Communicates and resolves issues with underwriting organization business unit and/or reinsurance intermediary impacting accurate and efficient administration of ceded facultative placements.
• Develops reinsurance profiles for environmental asbestos and other long-tail exposure claims involving multiple attachment criteria defined for completed profile are consistent with reinsurance terms described in applicable treaties and certificates.
• Provides suggestions for process improvements; identifies and solves problems remove barriers to ensure accuracy of unit work product. Make service and improvement recommendations to business units and management. Work with other Chubb areas to ensure high level of service to underwriting and claims organizations.
• Works with client underwriting area to secure Reinsurance Certificates on facultative placements. Requests appropriate facultative and treaty underwriting information in order to properly establish contractual terms in systems. Identifies and resolves most discrepancies on Facultative Certificates Notices of Reinsurance etc. Independently resolves most discrepancies on complex treaties or facultative programs.
• Understands policy language as it relates to the ceded coverage provided.
• Participate and manage inter-department projects.
• Follow guidelines for timely and accurate processing of assigned workflows. Identify barriers to meeting deadlines and offers suggestions for improvements as needed.
• Obtain underwriting information from internal sources needed to accurately update contracts.
• Process contract change requests from accounting and claim units to maintain accurate contract records.
• Participate in department and company training programs to enhance knowledge of systems processes and the reinsurance industry customs and practices. Expand industry knowledge through the pursuit of formal designations such as CPCU ARe etc.
• Review accounting premium records against market statements for accuracy. Communicate and resolve issues with underwriting business unit and/or reinsurance intermediary.
• Register facultative ceded premium into our reinsurance system timely. Verifies data received from E-Re system is accurate and secure facultative certificates and term and conditions prior to bookings.
• Index reinsurance support in our Work View system.

• Basic reinsurance technical skills; solid knowledge of reinsurance operations and industry practices.
• Experience in an insurance or reinsurance environment.
• Working knowledge of policy terms and criteria for attachment to reinsurance treaties and certificates.
• Proven ability to analyze and interpret insurance and reinsurance contracts at an advanced level.
• Strong organizational skills and proven ability to work independently.
• Strong attention to detail
• Solid problem-solving skills
• Intermediary Accounting skills
• Strong Excel skills (Pivot Tables and V-lookup).
• Ability and initiative to self-motivate and develop solutions to most minor and intermediate level problems and issues.
• Ability to identify priorities and reschedule tasks as appropriate. Must be able to set high standards for self-performance and meet them.
• Solid oral written and interpersonal communication skills. Must possess ability to express ideas effectively and produce written documents that have appropriate organization structure and correct grammar.
• Ability and willingness to work with others in all departments in an effective and efficient manner to accomplish team goals and objectives.