Claims Analyst, Reinsurance

This role is responsible for administering assumed reinsurance claims and ensuring compliance with the terms and conditions under the contracts. The Claims Analyst interacts with clients, vendors, cedant reinsurers, and retrocessionaires. Advises the Reinsurance Accounting (or Finance) Team members in respect of financial transactions, loss exposures, and reserving.:

Confirms the applicability of the reinsurance Treaty, Facultative Certificate, retrocessional or insurance contract to the initial notice of loss.

• Analyzes, utilizes, and develops loss information to formulate and establish timely and accurate reserves.
• Investigates, evaluates (reserves rights, if applicable), and negotiates coverage issues with client companies as may be required under the reinsurance Treaty or Facultative Certificate.
• Effectively implements litigation management controls to any circumstance that warrants it whether reinsurance or direct insurance.
• Validates the accuracy of billings and cash calls, promoting prompt payment issuance and collections while maintaining accurate reserves and alerting the involved SBU as issues arise.
• Develops and maintains relationships with the management and staff at assigned clients and/or Third Party Administrators, anticipating their needs or deficiencies and proactively providing solutions.
• Actively participates as a member of the Reinsurance team for assigned client companies or insurance programs regarding client claim operations and any pertinent emerging trends.
• Manages various assumed reinsurance accounts including losses, settlement negotiations and trial developments. Provides support for mediations, arbitrations, and court hearings involving reinsurance and insurance contracts, as necessary.
• Participates in claim reviews and compliance audits for Client Companies/Third Party Administrators/Self-Administered Clients in respect of assumed reinsurance exposures.
  • Work closely with financial controls unit, internal and external audit on reinsurance

What we’re looking for:

Education:
Bachelor’s Degree (finance major preferred)
Designation in a related field a plus (i.e. ARe, AIC or CPCU)

Experience:
2-5 years of relevant experience in an insurance/reinsurance company
Ceded or assumed reinsurance experience

Reinsurance Claims or Accounting experience

Knowledge, Skills and Abilities

• Knowledge of reinsurance including underwriting, claims, accounting, finance and associated process, controls and systems
• Experience with reinsurance operations and finance
• Knowledge of relevant trends and information within the industry
• Understanding of accounting principles and practices, the insurance/reinsurance markets, and the analysis and reporting of financial data
• Strong technical skills in Microsoft Excel, Power Point and Word (Access a plus)
• Strong verbal and written communication skills
• Strong negotiation, analytical, decision making, problem resolution and organizational skills;
• Process transformation and control improvement experience is a definite plus

We are an Equal Opportunity Employer

American International Group, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its’ policies and procedures reflect this commitment. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories such as sexual orientation. At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.

To learn more please visit: https://www.aig.com/about-us/diversity-equity-and-inclusion

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to candidatecare@aig.com . Reasonable accommodations will be determined on a case-by-case basis.

AIG reserves the right to conduct a criminal background check, tailored to the requirements of a job, after a conditional employment offer is made. Unless otherwise required by law, AIG does not automatically exclude any applicant with a criminal conviction for a job or class or jobs. For more information about Philadelphia law specifically, copy and paste the following link within your browser: http://www.phila.gov/HumanRelations/PDF/BTB POSTER FINAL_3-9-16.pdfIn order to work from or visit an AIG office, and in accordance with the terms and conditions of AIG’s COVID-19 vaccination policy, individuals hired into this position will be required to attest that they have been fully vaccinated and agree to have their vaccination status and proof of vaccination confidentially stored by AIG. Exemptions may be considered on a case-by-case basis in accordance with applicable law.

Functional Area:

CL - Claims

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

AIG Claims, Inc.