Position: Reinsurance Administrator II
Location: / Trinidad and Tobago
Company: TATIL Life Assurance Ltd.
- Responsible for the administration of reinsurance treaties for Individual and Group Business within authorized limits. Maintains records and ensures compliance and regulations with CBTT. Ensures timely accounting, reporting and auditing.
- Researches and analyzes reinsurance prices and specifications. Liaises directly with the reinsurers to resolve any outstanding queries.
- Performs any business analyst function related to continuous improvement in the Reinsurance Administrative process for Life and Group Business.
- Demonstrates a thorough knowledge of the Company’s products and procedures, and a good understanding of industry regulations and compliance.
- Confirms the applicability of Reinsurance on insurance risk recognizing policy coverages and appropriate retention limits. Protecting the coverage rights of the company.
- Cedes the risk to the reinsurer according to the limits (auto or Facultative).
- Assist in the upgrade with Reinsurer to improve administrative process to maintain currency in the reinsurance process.
- Supports the Billing process by validating the accuracy of reinsurance billings and promoting prompt payment and collections.
- Verifying of premiums for all policies submitted for reinsurance from new business, contractual changes and termination.
- Reconciliation of reinsurance treaties ensuring that all policies submitted to the Reinsurer are included in each monthly statement.
- Liaises with Reinsurers on queries related to Reinsured policies.
- Monitors the reinsurance for Group and Life Claim analysis process. Serves as a resource for the Claim Administrator in the interpretation and applicability of reinsurance Treaties, Facultative Certificates, retrocessional or insurance contracts regarding payment, collection and reserve issues that arise.
- Regulatory compliance under CBTT, Group Internal Audit, external audit and other compliance and regulation.
- Submission of reports to the reinsurer
- Continuous review and assessment of the reinsurance portfolio in line with policy Issues, claims and Treaty standards.
- Provide information and recommendations pertinent to reinsurance decisions.
Qualifications & Experience:
- Bachelor degree in Business studies, Mathematics, Accounts Actuarial Science, Economics or related field an asset
- Professional Insurance qualifications such as LOMA – Reinsurance, ALMI
- Minimum of (2) year experience in Reinsurance and Three (3) years in Life Insurance or strong working experience.
- Technical knowledge of underwriting and the Insurance Industry relating to theories and practices.
- Sound knowledge of Reinsurance
How to apply:
These are the requirements for applying for this job:
- Do you have a Bachelor's degree in Business studies, Mathematics, Accounts Actuarial Science, Economics or related field an asset? - Do you have any Professional Insurance qualifications such as LOMA - Reinsurance, ALMI? - Do you have a minimum of two (2) years experience in Reinsurance and three (3) years in Life Insurance?