Reinsurance Coverage Analyst (Finance)

JOB DESCRIPTION

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 units. Enters 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 policies. Ensures 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.

ABOUT US

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.