Job Description
The Role
The Reinsurance Analyst is responsible for providing high quality analytical support to the Outwards Reinsurance function. The role supports the effective purchasing, monitoring and strategic planning of outwards reinsurance, with a focus on ensuring reinsurance structures are optimised and aligned with the business plan.
Key Responsibilities
Reinsurance Strategy:
- Contribute to the short, medium and long term outwards reinsurance strategy for the group
- Analyse reinsurance structures and strategies to optimise profitability within the internal risk appetite framework
- Develop, review and maintain frameworks for non-catastrophe outwards reinsurance metrics
- Support the formulation of outwards reinsurance proposals as part of the business planning process
Pre And Post Reinsurance Purchases
- Produce renewal modelling for group treaty reinsurance and other ad-hoc reinsurance purchases
- Liaise with brokers to validate renewal modelling assumptions and provide modelling data as required
- Contribute to the analysis and reconciliation required for outwards reinsurance renewal packs
- Carry out post purchase calculations for regulatory submissions
- Track actual reinsurance purchases against plan
Reinsurance Monitoring
- Enhance data quality, processes and the effective use of technology to improve and automate reinsurance analytics
- Build and maintain reinsurance modelling tools
Communication And Wider Team Responsibilities
- Liaise regularly with the Actuarial team, providing updates on reinsurance strategy, purchases and business planning
- Interact and develop relationships where necessary internally (not limited but including finance, actuarial and underwriting teams) or externally (with consultants, brokers or third parties) in support of the successful execution of the role.
Skills And Experience
- Strong data and modelling skills, with an interest in automation and process improvement
- Knowledge of Lloyd’s and London market insurance/reinsurance classes and reinsurance products.
- Experience with actuarial methods preferable (capital modelling or pricing)
- Excellent communication skills - both verbal and written
- An individual who will identify and challenge under-performance in the organisation and strive for constant improvement
- Strong attention to detail and focused on the delivery of high quality work within agreed deadlines – including thorough self-review and error checking
- Highly motivated, enthusiastic and structured working style
- Proactive and able to use own initiative
- Ability to think and act creatively around related issues
Canopius Competencies
Stakeholder engagement
Cultivates and maintains positive relationships with relevant internal or external stakeholders, effectively involving and communicating with them to drive collaboration, support, and alignment towards shared goals.
Collaboration And Teamwork
Works effectively with team, project or other work groups or those outside formal line of authority to accomplish goals. Actively participates as a member of a team; develops and builds cohesive team relations to produce required outputs; possesses knowledge and understanding of colleagues work.
Adapting To Change
Adjusts thoughts, feelings, and behaviours to handle new, challenging, or complex situations; embracing change as a growth opportunity when working within new work structures, processes, regulations, or requirements.
Continuous Improvement
Analyses current and future state business requirements and identify strategies to continuously improve products, services or processes. Guide and inspire others to achieve results to enhance efficiency, quality and consistency.
Innovation
Creates, develops and implements new ideas to enhance new or improved processes, systems, solutions, products or services; tries different and novel ways to deal with problems and opportunities.
Resilience
The ability to cope with and recover from setbacks, challenges or difficulty. Persevering even under pressure or crisis situations and uses ways that foster strength and growth, often emerging stronger than before.
Future Focused
Anticipates changes in regulations, technology and client needs, proactively responding to key trends happening in the industry. Thinks about the future through identifying opportunities and obstacles whilst planning effectively.
