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Reinsurance (RI) works as a vital contributor in ensuring the company's insurance risks are properly transferred to reinsurance companies. Reinsurance premiums, settlements, allowances and claims reimbursement based on the reinsurance arrangement are negotiated between the two companies. RI Operations team will administer reinsurance arrangements and produce regulatory reporting.
Other responsibilities will also include working with business Subject Matter Experts (SMEs) in setting up reinsurance system tables for all reinsurance arrangements for new product launches and where the partnership with reinsurers is involved, as well as providing accurate and timely information for internal and external reporting.