Reinsurance Collections Analyst II
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Job Location:
Philadelphia, PA - USA
Monthly Salary:
Not Disclosed
Posted on:
15 days ago
Vacancies:
1 Vacancy
Department:
Job Summary
Description
Qualifications
Scope of Duties
The Reinsurance Collections Analyst II is responsible for all aspects of collecting outstanding monies due from reinsurers on complex long-tail reinsurance claims. The position reports to a VP Ceded Reinsurance or an AVP Ceded Reinsurance.
Job Responsibilities
- Appropriate and timely collection of outstanding ceded reinsurance balances
- Assist with the identification of outstanding ceded reinsurance balances on assigned markets to support and facilitate timely collections
- Analysis of outstanding ceded reinsurance balances on assigned markets to ensure accuracy of balances
- Ensure the accuracy of related financial records and adherence to internal controls
- Develop and present to management strategies for resolution of disputed ceded reinsurance balances through dispute management process
- Identity and communicate to management any market issues and trends
- Maintain rigid diary system resulting in continuous targeted collections efforts on aged balances
- Identify and explain those balances for which mark-offs are appropriate
- Conduct regular market meetings to foster and improve market relationships to facilitate timely collections of outstanding balances
- Seek authority where appropriate to negotiate and resolve disputed balances
- Prepare and maintain reports to management on status of collections of outstanding ceded reinsurance balances
- Communicate regularly with Accounting Team to ensure accurate and timely application of cash received and reconcile any payment discrepancies
Qualifications
Minimum Qualifications
- Four-year college degree with a major in insurance or business preferred
- Strong research writing and analytical skills
- Two years of ceded reinsurance collections experience
Desired Qualifications
- Significant knowledge of Microsoft Excel and data management tools
- Working knowledge of Microsoft Office utilities
- Knowledge and experience with long-tail insurance claims (e.g. asbestos hazardous waste sexual molestation etc.)
- Familiarity with artificial intelligence tools (Chat GPT or similar) and applicationsAI prompt construction and uses of AI in run-off contract review claims analysis and arbitration preparation
Required Experience:
IC
Key Skills
- Healthcare Attorney
- Data Management
- Downstream
- Insurance
- Electrical Maintenance
About Company
Chubb Life has been in Egypt since 2003. Chubb Life is the international life insurance division of Chubb - the world's largest publicly traded property and casualty insurance company by market capitalization.
