| Urgent requirement for Sr. Business Analyst (Reinsurance, Finance transformation) @ Hybrid at Remote, Remote, USA |
| Email: [email protected] |
| Position: Sr. Business Analyst (Reinsurance, Finance transformation) Location: 2 days Hybrid in Jersey City / Charlotte, NC Interview process: In-person Experience: Mid to senior level Client: AIG Visa: EAD, GC and Citizen Duration: Long-term contract Candidate should have: Great communication skills Experience working as a Business Analyst for 6+ years Preferably located in NJC/NYC and be open to Hybrid Model (2-3 days WFO) Candidate should possess: Strong knowledge of the Reinsurance domain Should have worked on at least 1 reinsurance tool (preferably Sapiens Reinsurance Master or SAP FS-RI) Should be aware of the Allocation rule used for Ceding premiums Proportional Allocation vs. excess of loss Allocation A good amount of understanding around Inclusion/Exclusion criteria when setting up reinsurance treaties Should have done calculations of ceded and assumed premiums, reserves, and commissions based on FAC and Treaty reinsurance agreements. Should have an understanding of the Life cycle of the Premium received concerning the reinsurance lens in detailed steps: Premium Assessment Risk Evaluation: The ceding company evaluates its risk exposure and determines the type of treaty and factor to apply to mitigate losses Negotiation with Reinsurer and Reinsurance Agreement Activation: The ceding company engages in negotiations with reinsurers to transfer a portion of the risk. This includes discussions on coverage limits, terms and premium percentages to be ceded Premium Remittance to Reinsurers Reserve setting: A portion of the premium is typically set aside as reserves to cover potential claims. The primary insurer and reinsurer may establish reserves based on actuarial calculations and risk assessments. Claim handling: In the event of a covered loss, policyholders file claims with the primary insurer. The insurance company assesses the claims; if applicable, the reinsurer contributes its share to cover the losses. Loss Recovery: Reinsurers participate in the settlement of claims by reimbursing the primary insurer for their share of covered losses. The reinsurer's involvement helps the primary insurer manage the financial impact of large or catastrophic claims. Renewal or Adjustments and then repeat the cycle Mandatory: The one who is applying facultative and treaty contracts as a ceding company from the placement side and also as a reinsurer (finance/contract side) who will fulfil obligations concerning the risks it has agreed to cover, including premium collection, claims processing, and adherence to the terms defined in the contract Thanks & Regards Raviteja Sr.Technical Recruiter & Sales Executive [email protected] +1(551)-552-3979 1170 US Hwy 22 East Suite 307 Bridgewater, NJ 08807 -- Keywords: information technology green card New Jersey North Carolina Rhode Island |
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| Wed Dec 06 03:56:00 UTC 2023 |