Outwards Reinsurance Purchasing Technician
Entity: Rokstone Underwriting
Location: London/Hybrid - 3 office days
Who We Are
Rokstone, part of the Aventum Group, is an established international underwriting MGA and approved Lloyd's of London coverholder, where we also hold a Lloyd's Box. With innovation at our core, we go beyond the ordinary to offer brokers specialised (re)insurance solutions. Within Rokstone, we house specialist MGAs such as Novus, iSure and iFarm, each contributing to our commitment to redefining industry standards.
Our people are at the heart of Aventum. Working together in dynamic, service-focused teams, we prioritise our customers in everything we do. Collaboration fuels our success, courage drives innovation, and continuous improvement keeps us ahead in a rapidly evolving industry. Our shared commitment is to revolutionise insurance for the better, one day at a time.
We also believe that investing in our people is investing in our future. By empowering people across the Group to develop their careers, advance within the Group, and embrace new challenges, we build an environment where growth and learning never stop.
Our competitive benefits package, offered via a flexible benefits platform, reflects this. Beyond core benefits, employees have the freedom to tailor their benefits to meet their individual needs and support their unique goals and ambitions.
Role Summary
The Outwards Reinsurance Purchasing Technician will be integral to managing and procuring reinsurance contracts to optimise risk transfer strategies and support the company's financial objectives. This role demands a deep understanding of reinsurance mechanisms, excellent negotiation skills, and the ability to work effectively in a fast-paced, global environment. Regular travel between London and Dubai may be required.
Role Accountabilities
* Reinsurance Procurement
* Assist in developing reinsurance programs that align with the company's risk appetite and financial goals.
* Negotiate terms and conditions of reinsurance treaties and facultative placements.
* Coordinate with brokers and reinsurers to secure optimal coverage and competitive terms.
* Data Management and Analysis
* Analyse data related to premiums, claims, and exposures to support reinsurance decisions.
* Prepare and maintain reinsurance placement and recovery reports.
* Evaluate the effectiveness of reinsurance arrangements and recommend adjustments.
* Stakeholder Engagement
* Collaborate with underwriting teams to gather insights on underwritten risks and their impact on reinsurance needs.
* Liaise with claims and finance departments to ensure smooth implementation of reinsurance coverages.
* Maintain strong relationships with brokers and reinsurers to enhance partnership opportunities.
* Compliance and Documentation
* Ensure all reinsurance contracts comply with local regulations and company policies.
* Document reinsurance transactions accurately and ensure they are audit-ready.
* Keep abreast of regulatory changes in both the London and Dubai markets that affect reinsurance activities.
* Market Research and Development
* Monitor reinsurance market trends and innovations to stay ahead in competitive environments.
* Participate in industry forums and workshops to expand professional network and increase industry knowledge.
* Any additional duties as assigned.
Role Requirements
* Bachelor's degree in Insurance, Finance, Business Administration, or related field.
* At least 3 years of experience in reinsurance, specifically in outward transactions.
* Proficient in the use of reinsurance software and data analysis tools.
* Strong negotiation and communication skills, with the ability to manage multiple stakeholder relationships.
* Legal right to work in the UK or UAE, as applicable.
Skills and Abilities
* Professional certification such as ARe, CPCU, or equivalent.
* Experience working in both the London and Dubai insurance markets.
* Proficiency in additional languages is advantageous.
Equal Opportunity Statement
We are an equal-opportunity employer, and we are proud to share that 93% of our employees say they can be themselves at work. We aim to hire our industry's finest people because the best people drive the best outcomes. We will forever challenge the status quo because we know there are always ways to improve things. Because together, we're limitless.
We value applicants from all backgrounds and foster a culture of inclusivity. We understand the need for flexibility, so we work with a hybrid model. Please let us know if you require any reasonable adjustments during recruitment.
FCA Conduct Rules
* You must act with integrity.
* You must act with due skill, care and diligence.
* You must be open and cooperative with the FCA, the PRA and other regulators.
* You must pay due regard to the interests of customers and treat them fairly.
* You must observe proper standards of market conduct.
* You must act to deliver good outcomes for retail customers.