Senior Analyst, Reinsurance

Title: Senior Analyst, Reinsurance  

Location: Bedminster, NJ / Dallas, TX 

Reporting to: Sr. Manager, Reinsurance Operations

About Spinnaker:

Spinnaker is a national property and casualty insurance company rated A- VIII by A.M., that is a wholly owned and independently operated subsidiary of Hippo Insurance. With the capability to offer admitted and surplus lines insurance products in 50 states and jurisdictions, Spinnaker partners with program administrators and managing general agents to offer strategic insurance solutions. We target innovative product market leaders across both personal and commercial lines, specialty lines, and traditional and non-standard fronting opportunities.

About the Role:

You will support our reinsurance operations across all existing and new programs. You will work closely with our underwriting team, brokers, legal, data, IT and reinsurers to ensure that contracts are set-up appropriately (both manually and in the Company’s Ceded Re system) and all aspects of reinsurance accounting operations are being performed; this includes monthly settlements for pro-rata/quota share treaties, deposit premiums and recoveries for various XOL structures, sliding scale commission, loss corridors, carrier equalization and collateral maintenance. While performing the day-to-day function, you will be continuing to build out the department’s processes, procedures, and overall operating cadence. This is a dual role encompassing approximately 30% business analyst work and 70% reinsurance analyst work.

What You’ll Do:

• Responsible for operationalizing the contract after placement until commutation or until all balance has been settled
• Act as liaison and single point of contact for department leads, subject matter experts, IT (both internal and the Ceded Re system software vendor) and the data team
• Meet with business users to understand process and document business needs and solutions
• Communicate effectively to provide updates to stakeholders on items like status, risks, expectations, and timeline. Analyze and document business processes and requirements
• Supports post-implementation activities, supports analysis to identify root cause and problem solving
• Day to day management of Ceded Re billing and collections process, including cash applications
• Coordinate reporting and reconciliations with third parties, including reinsurance brokers and reinsurers
• Support ongoing maintenance of the Company’s Ceded Re system and implementation of new contracts when needed
• Review new and existing contracts and ensure they are established and set up appropriately in the Company’s systems and processes
• Read and interpret accounting implications of PA/MGA and reinsurance contracts to support profit commissions and portfolio transfers for accounting, underwriting, PAs, brokers, and reinsurers
• Provide ongoing reporting for reinsurance recoverable and payables, explaining trends and industry norms

Must Haves:

• Minimum 4 - 7 years’ experience working in reinsurance related accounting or operational roles
• Bachelor's Degree or higher in Accounting, Finance or Business Administration
• Demonstrated their ability to understand insurance and re/insurance contract wording
• Familiarity with various reinsurance contract types, such as pro-rata, per risk, Cat xol etc.
• Understanding of insurance operations including underwriting, claims, and reinsurance
• Advanced MS Office skills capable of creating complex reports, templates, process workflows and checklists, and settlement statements; ability to review and efficiently identify data errors, cleans data, sort, quantify and create reports for internal and external analysis
• Strong organizational skills, analytical, problem solving, technical skills and the ability to effectively manage time and multitask
• Strong and effective verbal and written communication skills and the ability to interact with co-workers, management, and internal/external customers
• Self-motivated and directed; ability to collaborate is a must, but you will be autonomous and expected to succeed without heavy direction
• Strong intellectual curiosity and a desire to help others solve problems. Flexible and willing to do what is needed to get great work done
• A natural inclination to work within a culture that is fast-paced and dynamic

Benefits and Perks:

Hippo treats its team members with the same level of dedication and care as we do our customers, which is why we’re fortunate to provide all of our Hippos with:

• Healthy Hippos Benefits – Multiple medical plans to choose from and 100% employer covered dental & vision plans for our team members and their families. We also offer a 401(k) retirement plan, short & long-term disability, employer-paid life insurance, Flexible Spending Accounts (FSA) for health and dependent care, and an Employee Assistance Program (EAP)
• Equity - This position is eligible for equity compensation 
• Training and Career Growth – Training and internal career growth opportunities
• Flexible Time Off - You know when and how you should recharge
• Little Hippos Program - We offer 12 weeks of parental leave for primary and secondary caregivers

Hippo is an equal opportunity employer, and we are committed to building a team culture that celebrates diversity and inclusion.

Hippo’s applicants are considered solely based on their qualifications, without regard to an applicant’s disability or need for accommodation. Any Hippo applicant who requires reasonable accommodations during the application process should contact the Hippo’s People Team to make the need for an accommodation known