Reinsurance Analyst

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POST DATE 9/12/2016
END DATE 10/18/2016

DiversityWorking Worcester, MA

Company
DiversityWorking
Job Classification
Full Time
Company Ref #
7289979
AJE Ref #
576153683
Location
Worcester, MA
Job Type
Regular

JOB DESCRIPTION

Reinsurance AnalystJob ID #:
8309 Location:
Worcester, MAFunctional Area:
Reinsurance SBU:
45003 - Corp DevelopmentPosition Type:
Full - Time Education Required:
Bachelors DegreeExperience Required:
Not Indicated Relocation Provided:
Job DescriptionWhere Great People Build Successful Careers.The Hanover is seeking a Reinsurance Analyst to join our growing team in our Worcester, MA office.Position Overview/Summary:
Reporting and analysis of loss activity that satisfies Hanover's Reinsurance Reporting Guidelines to reinsurance markets, brokers, Reinsurance Accounting and Reinsurance Claim management. Gathering information and developing skills needed to interpret contract language. Support Reinsurance Accounting with reconciliation and validation of ceded recoverables. Provide necessary support for monthly close process, reinsurance claim audits and any special projects in conjunction with the Reinsurance Claim, Underwriting or Reinsurance Accounting departments.Responsibilities/Essential Functions:

* Understand the application of direct claims to various reinsurance treaties.
* Work with Reinsurance Claims or Senior Reinsurance team members to partner with reinsurance brokers and gather information on loss issues.
* Prepare billing notices/proofs of loss on claims that pierce applicable reinsurance retentions. Send prepared work product to various reinsurers and reinsurance brokers.
* Develop understanding of quarterly Casualty Underlying Excess of Loss Bordereau report. Update accordingly and collaborate with Reinsurance Accounting to balance the report to the Corporate Ledger.
* Review of monthly Ceded Outstanding and Paid Loss Register reports from the reinsurance SICS/CEDE system, with communication to Reinsurance Claim and Reinsurance Accounting management validating cessions including error identification.
* Manage current reinsurance claim inventory by requesting detailed information on new and previously reported losses from claim field adjusters for communication to reinsurers. Provide periodic updates to brokers and reinsurers on reported claims. Includes review of Daily Large Loss report for financial changes to large losses.
* Track special recoverable programs including Clash, Surety and Annual Aggregate Deductible structures providing supporting schedules that update direct and ceded loss transactions.
* Maintain reinsurance claim inventory database identifying monthly count of open losses by treaty type. Log all incoming reinsurer claim inquiries, answer those delegated, and update Reinsurance Claim and Reinsurance Accounting management as applicable.
* Develop understanding of business products, applicable statutes, and industry case law. Provide support as needed during annual reinsurance claim audits and reviews.
* Develop partnerships with business unit leadership to understand and obtain information on loss concerns.
* Maintain data sources to effectively and efficiently track reinsurance billing.
* Provide accurate ceded claim loss experience for internal and external partners.
* Develop understanding of evolving trends and patterns within the reinsurance industry.
* Stay current with changing internal and external reinsurance strategies.Position Requirements- Bachelor's degree with 3+ years of experience.- Property and casualty claim environment or accounting background/knowledge preferred.
* Proficiency with Excel, Word and various automated claim systems.
* Ability to manage multiple tasks while maintaining strict adherence to monthly deadlines.
* Proactive verbal and written communication involving multiple disciplines. Knowledge of current principles and practices of reinsurance claim and accounting functions.
* Ability to work as part of a team and/or independently.
* Self-motivated with strong attention to detail. Must be able to follow through and complete complex tasks with minimal supervision.
* Strong organizational and time-management skills.
* Understanding of applicable statutes, regulations and industry case law.Recognized as one of America's Best Employers by Forbes,The Hanover is proud to be among the top property and casualty insurers in the United States. The Hanover offers a collaborative environment where you'll gain new experiences and grow your career. The Hanover offers comprehensive benefits to help you stay healthy, build financial security, and maintain work/life balance. At The Hanover, you'll enjoy what you do and have the support you need to succeed.EEO statement:
'The Hanover values diversity in the workplace and among our customers. The company provides equal opportunity for employment and promotion to all qualified employees and applicants on the basis of experience, training, education, and ability to do the available work without regard to race, religion, color, age, sex/gender, sexual orientation, national origin, gender identity, disability, marital status, veteran status, genetic information, ancestry or any other status protected by law.Furthermore, The Hanover Insurance Group is committed to providing an equal opportunity workplace that is free of discrimination and harassment based on national origin, race, color, religion, gender, ancestry, age, sexual orientation, gender identity, disability, marital status, veteran status, genetic information or any other status protected by law.'The Hanover Insurance Group does not accept unsolicited Agency resumes. The Hanover Insurance Group will not pay fees to any third party agency or firm that does not have a signed 'Employment Agency Agreement' already on file with Human Resources - The Office of Talent Management. .