Life & Health Treaty Specialist

Overall role:
Managing clients’ Life & Health reinsurance treaties and optimising service levels to maximise the retention of the existing portfolio and identify future growth opportunities.

The role requires direct communication with clients to develop a thorough understanding of their requirements, provide in-depth technical analyses and pricing of the clients’ exposures and develop and strengthen relationships with global reinsurers to obtain the best possible reinsurance treaty coverage.

Key accountabilities:
Client Management
• Build and maintain strong client relationships through regular meetings and market visits.
• Identify and manage client requirements and present analysis and recommendations.
• Achieve a high rate of client retention through well-planned and executed account renewal management.
• Ensure there are sufficient resources to meet client day-to-day demands and escalate servicing issues to divisional management as necessary.
• Assess opportunities for acquiring new clients
• Ensure that the standards of Client Service Charter are met at all times.

Market relationships
• Stay abreast of key market developments, new products and changes to reinsurers’ underwriting appetites to permit the widest placing opportunities.
• Plan regular meetings with and visits to UK and global reinsurers and conferences to develop and maintain market relationships.
• Prepare and present analytics to reinsurers to secure best possible terms for the client, with full material disclosure.
• Negotiate and obtain the most appropriate carrier, coverage and price for the clients’ requirements.
• Resolve subjectivities and warranties in accordance with client instructions to secure underwriters’ participation.
• Negotiate agreement to post-placement changes.

Analytics
• Stay current on healthcare regulations, trends and industry best practices.
• Analyse claims data, medical cost trends and utilisation patterns to support pricing decisions.
• Propose reinsurance treaty structures and solutions to address clients’ targets and optimise their performance.
• Develop and maintain pricing models for Life and Health related products in collaboration with key stakeholders.

File Management
• Maintain thorough and timely records of market negotiations, presentations and communications with insurers and with clients in accordance with Internal Procedures and informs clients and/or colleagues of any developments.
• Ensure that correspondence, documentation, statistic etc. are retained on paper and electronic files in accordance with Best Practise manual (BPM) and divisional procedures to demonstrate a complete audit trail.

Compliance/Corporate Governance
• Legal, market, regulatory and Best Practice Manual requirements are met in all aspects of business acquisition, placing, claims and servicing.
• High technical standards are maintained to achieve quality, minimal rework and minimal E & O exposure.
• Maintain confidentiality in systems and procedures.
• Financial & document checks and subsequent approval process is handled in accordance with companies Authorised Signatory List.
• Review files to ensure that correspondence, documents, statistics etc are retained on file in accordance with Best Practice Manual/divisional procedures providing a complete audit trail
• Support the introduction of new processes in response to regulation changes.
• Identifies and report suspicious financial circumstances or transactions directly to companies Money Laundering Reporting Officer.

General:
• Deal honestly and fairly with colleagues, clients, and others within the insurance profession.
• Take responsibility for own learning and development. Keep up to date with best practice and legal developments relating to your own field of expertise. To meet all external and internal training requirements.

Desirable experience:
• Experience in life and health reinsurance treaty placements, with demonstrable London market exposure in underwriting, broking or client management.
• Knowledge of products, pricing, underwriting, and claims management.
• Proven track record managing international reinsurance programs for complex risks.
• Drafting slips and endorsements.
• Identifying, sourcing, and closing new client deals.
• Maintaining/growing existing client/account base.

Knowledge and skills:
• Market and industry structure and operation, including regulation and current market practice.
• Actuarial studies, CII or equivalent experience (advantage).
• London Market Insurance Essentials (LM1) and London Market Insurance Principles and Practices (LM2) or equivalent experience (advantage).
• Negotiation and persuasion.
• Well-developed communication: verbal, written and presentation.
• Client servicing and account development.
• Good IT literacy skills (Word, Outlook, Excel).
• Relationship management.
• Planning and organising.
• Time management and prioritisation.
• Placing process.
• Sales, business development and account management.
• Company operation, structure, systems and controls.
• Best Practice Manual.
• Internal Risk Management Process.