Reinsurance Operations

Key Responsibilities

End-to-End Reinsurance Operations

• Manage complete Life Reinsurance operations across individual and group business portfolios.
• Administer reinsurance treaties including setup, configuration, maintenance, and amendments.
• Perform monthly premium, claims, reserve, and provision computations using ReNova or similar reinsurance administration systems.
• Prepare and validate reinsurance settlements, account statements, and outstanding balances.
• Ensure timely processing of premium and claims accounting with high accuracy.

Treaty Administration & ReNova Management

• Configure and maintain treaty setups in the ReNova application.
• Support implementation of new treaties and product changes.
• Lead User Acceptance Testing (UAT) for treaty changes, system enhancements, and new business implementations.
• Validate system outputs, financial computations, and operational data before deployment.

Reporting & Financial Reconciliations

• Prepare monthly, quarterly, and annual reinsurance reports.
• Perform financial reconciliations between internal systems and reinsurer statements.
• Ensure accurate provisioning and reserve calculations.
• Monitor outstanding balances and drive timely account settlements.

Stakeholder & Reinsurer Management

• Act as the primary liaison between reinsurers, brokers, and internal business teams.
• Collaborate with Actuarial, Underwriting, Claims, Finance, Operations, and IT teams for seamless execution.
• Handle reinsurer queries, discrepancies, settlements, and escalations within agreed timelines.
• Ensure timely sharing of reports, invoices, and settlement statements with reinsurers.

Process Improvement & Quality Management

• Review data quality, reconciliations, and transaction accuracy.
• Identify automation and process improvement opportunities.
• Ensure adherence to operational controls, SLAs, audit requirements, and regulatory compliance.
• Support internal and external audits and close audit observations within timelines.

Required Skills

• Life Reinsurance Operations
• Treaty Administration & Management
• Premium & Claims Accounting
• ReNova Application / Reinsurance Administration Systems
• Financial Reconciliations
• Reinsurance Reporting & MIS
• UAT & System Testing
• Provisioning & Reserve Computation
• Data Validation & Quality Controls
• Stakeholder Management
• Regulatory & Audit Compliance
• Advanced MS Excel

Preferred Candidate Profile

• 8+ years of experience in Life Insurance / Reinsurance Operations.
• Hands-on experience in ReNova or any similar reinsurance administration platform.
• Strong understanding of treaty lifecycle, premium and claims accounting, and reinsurance settlements.
• Experience in UAT, reconciliations, reporting, and process improvement initiatives.
• Excellent analytical, numerical, communication, and stakeholder management skills.

Key Performance Indicators (KPIs)

Financial

• Timely and accurate reinsurance premium and claims settlements.
• Accurate reserve and provision computations.
• Closure of account settlements within SLA timelines.

Customer / Stakeholder

• Timely resolution of reinsurer and stakeholder queries.
• Accurate delivery of reports, invoices, and settlement statements.
• Strong stakeholder satisfaction and collaboration.

Process & Quality

• Accuracy of reconciliations and reporting.
• SLA adherence across reinsurance operations.
• Successful completion of UAT and treaty implementations.
• Audit compliance and operational quality standards.
• Process automation and operational efficiency improvements.

Why Join Us?

• Opportunity to work with a leading Life Insurance organization.
• Exposure to end-to-end reinsurance operations and treaty management.
• Collaborative work environment with Actuarial, Finance, Claims, Underwriting, and Technology teams.
• Career growth in Life Insurance and Reinsurance Operations.