Insurance Operations Technician, Credit Control/IBA – Lloyd’s Market - £65-75k
The purpose of the role is to support the Technical Operations functions across the MGAs. This includes a focus on: The quality review of policy capture and endorsement processing; the production and review of bdx data sent to carriers; oversee the IBA accounts and operations - inhouse and outsource across the MGAs; monitoring and resolving queries on the reported debt and unallocated cash position; And co-ordinating the premium review and adjustments on expected premiums.
Duties & Responsibilities
Policies & Endorsements – Processing Quality & Turnaround times
* Ensure the timeliness, accuracy, and completeness of data entry into the system of record for all the MGAs.
* All policies to be reviewed in line with slip and endorsement conditions to ensure that all premiums are accurately booked (including deductions, e.g. NCB’s, Continuity Commissions and taxes).
Bordereaux Review
* Review Written and Paid bordereaux information reported from the system on a monthly basis and work on process flow solutions with resolution and additional exception report requirements.
* Monitor and review all errors identified by the exception reporting tools on the system with the correct resolution action implemented.
IBA Operations
* Oversee the IBA cash allocation process with the Technical Operations Team and Outsource service providers.
* Reconcile and match Xchanging entries to policy and premium entries booked.
* Provide technical support and training to the Technical Operations Team in handling unallocated cash transactions and query resolution.
Minimum Qualifications, Skills & Experience
* A minimum of 5 years’ experience in Insurance in a Credit Control/Technical Operations team with a particular focus on Premium review & IBA query resolution.
* A practical understanding of Underwriting and policy administration systems