Market leading specialty insurer and reinsurer currently seek a commercially minded and strategic Head of Insurance Operations with the ability to provide thought leadership, design a TOM and implement a quality management tool.
The primary purpose of the role is to manage a portfolio of insurance operations in United Kingdom, Ireland, and Bermuda. The role requires managing a combination of cross-functional relationships, as well as third party partner, vendor, and service provider relationships.
- Directs and manages the Insurance Operations pipeline for Inwards and Outwards ensuring outputs/outcomes are evidenced and supported with management information.
- Directs and manages administration of binding, endorsements, insurance premium tax, earning patterns, premium management via manual and bureau messaging; facilitating work processes in order to achieve high performance and quality standards.
- Directs and manages the implementation of Insurance Operations policies and procedures; and internal controls (detective, preventative, and corrective) ensuring adherence to Regulatory, Risk, and Compliance laws, regulations, guidelines, and specifications.
- Interprets and implements changes in insurance operations best practices necessary for continuous improvement to process, technology/systems, and governance.
- Directs and manages cross-functional relationships with Underwriting, Claims, Credit Control, Finance, Actuarial, IT, Legal, Compliance, etc.
- Directs and manages vendor and service provider interactions including Xchanging (ACORD), Insures Market Repository (IMR) Pro-Global, Brokers, Coverholders, MGA Partners, etc.
- Monthly reporting of key metrics to Management Committee, and quarterly reporting to Operating Company Boards.
- Works in close coordination with the entity CEO's, Director of Underwriting, and Finance to develop action plans to drive pipeline oversight and workflow.
- Develops and implements Insurance Operations Quality Management program focused on assessment, efficiency, and effectiveness of data quality, error & omission prevention, workflow/procedure compliance. workflow/procedure effectiveness, workload monitoring, quality of customer engagement & service.
- Undertakes internal and external training initiatives to expand the technical skills of Insurance Operations to continuously develop and build relevant capabilities.
- Develops and implements a framework guiding all insurance operations pertaining to pipeline premium to ensure execution in accordance with the established risk management framework, and regulatory guidelines.
- Assists the Director of Underwriting in defining processing guidelines and service level agreements to ensure smooth pipeline process for premium, estimated premium reviews, and query management.
- Ensure the business unit operates smoothly and align with quality standards.
- Undertakes regular reconciliations with Finance, Credit Control, and Audit.
- Ensure that all requests for providing any additional information requested by the Underwriters, Risk, Compliance, Audit, Finance, or other stakeholders are addressed in a timely manner.
Skills & experience
- Significant experience in the insurance/reinsurance industry in a similar role
- Strong working knowledge of the Bermuda/UK regulatory environment
- Proven experience with underwriting core systems and system development in a multi-currency environment required
- Demonstrated ability to develop and maintain strong working relationships with personnel on all levels and across all departments
- Track record of strong project management skills
- Able to self-lead and to manage a team of employees
- Proficient with the Microsoft Office Suite of applications with advanced skills in Excel and Word
Contact telephone: +44 203 861 9220
Contact name: Bianca Pennington