Reinsurance Claim Specialist

Job title: Reinsurance Claims Specialist

Role type: 3 days in office

Shift: Monday to Friday 9am to 5pm (people usually do come a little earlier as well)

Pay rate: $75/hour. No benefits while on contract period

Location: Markham, ON

Leap Recruitment Partners is proud to represent a premier leader in the Canadian insurance and financial services landscape. Our client is recognized for its commitment to service excellence and innovation, and we are currently seeking a motivated professional to join their high-performing Billing Operations team.

Key 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 / Experience:

• 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.

At Leap we are an Equal Opportunity and Affirmative Action Employer. That means all applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, or disability status. Leap will not tolerate any discrimination or harassment based on any of these characteristics. Leap encourages applicants of all ages.