Reinsurance Manager

Role & responsibilities

- Send proposals to the market considering market & direct side dynamics to reach out to relevant reinsurers

- Interact with Reinsurers / Brokers on a continuous basis to ensure competitive contract terms, improve facultative commission and effective query resolution

- Collaborate and discuss with the underwriting & Sales teams about current market trends and business strategy to accordingly plan interactions with the RI market.

- Verify & analyze data provided by underwriting team before sending it to the re-insurers / brokers

- Interact with various stakeholders and provide necessary documentation and resolve queries for facultative as and when requested by auditors to assist in early audit query resolution

- Identify reinsurers while ensuring the placement of Facultative contracts are only with A- and above rated securities.

- Maintain facultative placement data base including data points such as Premium, Commission, Reinsurer, PPW etc to ensure effective monitoring and analysis

- Maintain signed Treaty slips / agreements, Reinsurance Program, REMS & RCRMP from the re-insurer for submission to the regulator, third party assessment review, audit of Risk allocation, accounts & processes in a timely manner

- Monitor process for remittance of Facultative Premium to ensure adherence to the PPW clause

- Placement in accordance with IRDAI laid guidelines and maintenance of complete database for facultative palcement.