Reinsurance Claim Specialist

Location: Markham, ON
Duration: 6 months
Fully onsite

Advantages
• Gain experience working for a well-known insurance company
• Earn a competitive pay rate
• Full time hours on a 6 month contract




Responsibilities
Conduct detailed reviews of legacy ceded claims portfolios to identify potential reinsurance recovery opportunities under treaty and facultative reinsurance agreements.
Analyze historical claim files, reinsurance contracts, bordereaux, and supporting documentation to determine coverage applicability and recovery eligibility.
Validate reinsurance recoverables and quantify recovery amounts in accordance with contract terms, accounting requirements, and internal policies.
Prepare and present reinsurance claims to reinsurers, brokers, and other counterparties, ensuring submissions are complete, accurate, and supported by appropriate documentation.
Manage the collection and resolution of outstanding legacy recoveries by proactively following up with reinsurers, brokers, claims handlers, and other stakeholders.
Investigate and resolve disputes related to coverage interpretation, claim allocation, recovery calculations, and settlement amounts.
Maintain accurate records of claim submissions, recoveries, correspondence, and recovery status within reinsurance systems and tracking databases.
Support the review and reconciliation of aged balances, outstanding recoverables, and doubtful accounts, working closely with Finance and Accounting to resolve discrepancies.
Monitor claim and recovery trends within the legacy portfolio and provide analysis, status updates, and recommendations to management.
Collaborate with Claims, Finance, Actuarial, Underwriting, Legal, and external stakeholders to obtain documentation, verify claim information, and facilitate successful recovery outcomes.
Assist in evaluating reinsurer counterparty exposures and escalate collection concerns, disputes, or financially impaired counterparties to management.
Support periodic audits, internal control reviews, and data requests by maintaining appropriate documentation and audit trails.
Identify opportunities to improve recovery processes, enhance data quality, and streamline legacy claim review activities through process improvements and automation.
Contribute to the development and maintenance of procedures, guidelines, and best practices relating to legacy reinsurance claim reviews and recoveries.

Qualifications
5-10 years of experience in reinsurance claims, insurance claims, reinsurance accounting, or recovery operations.
Strong understanding of treaty and facultative reinsurance structures and contract interpretation.
Analytical skills with the ability to review large volumes of historical claim and financial data.
Experience reconciling recoverables and investigating outstanding balances.
Strong communication and negotiation skills when dealing with brokers, reinsurers, and internal stakeholders.
Proficiency in Excel and claims/reinsurance systems, with experience supporting data analysis and reporting.

Summary
Are you interested in the Reinsurance Claim Specialist position in Markham? Apply online today!

Randstad Canada is committed to fostering a workforce reflective of all peoples of Canada. As a result, we are committed to developing and implementing strategies to increase the equity, diversity and inclusion within the workplace by examining our internal policies, practices, and systems throughout the entire lifecycle of our workforce, including its recruitment, retention and advancement for all employees. In addition to our deep commitment to respecting human rights, we are dedicated to positive actions to affect change to ensure everyone has full participation in the workforce free from any barriers, systemic or otherwise, especially equity-seeking groups who are usually underrepresented in Canada's workforce, including those who identify as women or non-binary/gender non-conforming; Indigenous or Aboriginal Peoples; persons with disabilities (visible or invisible) and; members of visible minorities, racialized groups and the LGBTQ2+ community.

Randstad Canada is committed to creating and maintaining an inclusive and accessible workplace for all its candidates and employees by supporting their accessibility and accommodation needs throughout the employment lifecycle. We ask that all job applications please identify any accommodation requirements by sending an email to accessibility@randstad.ca to ensure their ability to fully participate in the interview process.

This posting is for existing and upcoming vacancies.