The Role
Working within a specialist insurance finance function, you will take responsibility for the effective management and collection of premium debt across delegated authority business, working closely with brokers, coverholders, underwriting and finance teams.
Key responsibilities will include:
- Managing and reducing outstanding premium debt across delegated authority accounts.
- Monitoring aged debt, investigating overdue balances and driving timely collection.
- Reconciling premium bordereaux, statements and outstanding balances.
- Liaising with brokers, coverholders and internal stakeholders to resolve payment discrepancies and queries.
- Monitoring premium settlements and ensuring accurate allocation and reconciliation of receipts.
- Producing debt reporting, identifying risks and escalating significant outstanding balances.
- Supporting improvements to credit control processes, reporting and financial controls.
Essential Experience
We require candidates with specialist insurance market experience, specifically gained within a Lloyd's Syndicate Managing Agent or Lloyds Broker. You will need:
Solid understanding of London Market Insurance practices
Strong experience in insurance premium credit control, premium accounting, insurance broking accounts or premium settlements.
Knowledge of delegated authority business and binder arrangements.
Proven experience interpreting and reconciling monthly Coverholder/MGA Bordereaux data and tracking down outstanding payments against those reports.
Experience managing and resolving complex payment queries.
An understanding of the relationships between brokers, insurers and coverholders.
Excellent interpersonal and negotiation skills and the ability to leverage strong working relationships with Lloyds brokers to facilitate swift debt resolution.
Strong analytical skills, attention to detail.
The ability to take ownership of debt management and work proactively to resolve outstanding balances.
The Opportunity
The business offers a supportive, collaborative environment, a strong reputation within the Lloyd's market and an attractive remuneration package, including:
Performance-related bonus of 20–40%.
+ benefits
Hybrid working.
Established, financially stable insurance business.
Opportunity to take ownership of a specialist delegated authority credit control function
Potential for progression in to management role.