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Bajaj Allianz General Insurance

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3.9

based on 2.3k Reviews

246 Bajaj Allianz General Insurance Jobs

Reinsurance Systems & Automation Lead

Bajaj Allianz General Insurance Company Ltd.

3.9

based on 2.3k Reviews

8-12 years

Pune

1 vacancy

Reinsurance Systems & Automation Lead

Bajaj Allianz General Insurance

posted 15d ago

Job Role Insights

Flexible timing

Key skills for the job

SAP CO Oracle Project Management Claims Adjudication Medical Underwriting Contract Management

+ 4 more

Job Description

JOB PURPOSE:

The Reinsurance Systems & Automation Lead will be responsible for leading the automation and modernization of the companys reinsurance accounting, placement, and reporting systems. This role involves overseeing the migration of legacy systems, developing data analytics dashboards, exploring generative AI applications, and streamlining workflows to improve operational efficiency across multiple Reinsurance Portfolios & related tasks.

PRINCIPAL ACCOUNTABILITIES

Reinsurance Accounting & Placement System Automation :

Lead the automation of reinsurance systems, including Facultative, Treaty, and Payment s modules, ensuring seamless integration with regulatory reporting, accounting and data analytics platforms.
Automate the generation of Statements of Account (SOA) for reinsurers and internal stakeholders.
Implement tools and processes for automation of claims management, recoveries, receipting and loss reporting.

Oversee and Manage Legacy System Migration :

Lead the migration of the company s legacy reinsurance systems to a new Reinsurance Administration & Accounting System for all Lines of Business (LOBs).
Ensure proper data migration, validation, and system compatibility to maintain seamless reinsurance operations during the transition.
Develop & update Solution Analysis Documents for each LOB & Reinsurance Program taking into consideration current & future requirements to ensure that systems supports the future scalability of the company s reinsurance portfolio.

Creation of Dashboards :

Design and maintain real-time dashboards to visualize monthly, quarterly, and yearly treaty performance for better decision-making.
Develop interactive dashboards to track Catastrophic Events (Cat Events), providing insights into exposure, claim frequency, and impact on reinsurance contracts.
Ensure that all performance and risk metrics are available through user-friendly dashboards for senior management and stakeholders.

Exploring Generative AI Applications :

Explore the application of Generative AI to streamline various reinsurance processes, such as risk profiling, pricing models, and automated claim assessment.
Create a tool for using AI to assist in drafting, comparing and reviewing reinsurance treaties, ensuring that compliance with local and international regulations and also identifying any clauses that may pose risks or compliance issues.
Implement AI tools to provide predictive analytics for exposure management and simulate potential catastrophic events (like earthquakes or floods) and predict their financial impact on reinsurance contracts on the companies portfolio as a whole.
Identify areas where AI-driven models can improve reinsurance analytics, reduce manual effort, and enhance forecasting, analysis & decision makin

Source and / or Develop Cat Modelling & Exposure Monitoring & Accumulation Systems :

Develop or source sophisticated systems and models to measure and manage exposure accumulation across the company s PAN-India operations for various LOBs.
Ensure that these systems accurately track geographic exposure concentration, assess potential risks from natural catastrophes, and provide insights into reinsurance program requirements.
Continuously update exposure models to reflect market changes, regulatory developments, and evolving risk profiles.
Conduct Monthly, Quarterly & yearly Cat Modelling & Exposure Monitoring & Accumulation exercises

Process Automation & Workflow Optimization :

Assess and identify current manual processes in reinsurance accounting, reporting, and contract management that can be automated.
Design and implement automated workflows for tasks like premium reconciliation, claim processing, and regulatory filings to enhance operational efficiency.
Integrate these workflows into the company s systems, ensuring a cohesive and scalable structure that reduces redundancy and improves process transparency.

Regulatory Compliance & Reporting :

Ensure that the reinsurance automation systems comply with regulatory frameworks, including reporting requirements for IRDAI, IFRS 17, RI ETASS Module and other relevant authorities.
Regularly update systems to ensure ongoing compliance with local and international reinsurance reporting standards.

Collaboration with Cross-Functional Teams :

Work closely with internal departments such as Finance, IT, Underwriting, and Claims to align system automation and reporting functionalities with business objectives.
Collaborate with external vendors, reinsurers, and consultants to ensure smooth system implementation and ongoing system enhancements.

Training & Support :

Provide training and guidance to the reinsurance and finance teams on the new systems and automated processes.
Ensure all stakeholders are familiar with system capabilities and reporting functionalities to ensure seamless adoption.

Educational Qualifications:

Qualifications

Bachelor s or master s degree in finance, Accounting, Computer Science, or a related field.

Experience :

7+ years of experience in reinsurance accounting, system automation, or project management.
Strong background in system migration and automation projects within the insurance or reinsurance industry.
Familiarity with data analytics tools, AI models, and exposure management systems is a plus.
Expertise in reinsurance software platforms (e.g., SAP, Oracle, BANCS or similar).
Proficiency in data visualization and dashboard tools (e.g., Power BI, Tableau).
Experience with Generative AI tools for analytics and automation.

Key Competencies:

Project Management : Ability to oversee large-scale IT projects, including system migrations and automation initiatives.
Technical Expertise : Strong understanding of reinsurance accounting, systems design, and familiarity with AI-driven tools.
Data Analytics : Proficiency in designing data dashboards and tools for visualizing complex financial data.
Process Optimization : Skilled in identifying areas for automation and streamlining workflows.
Communication Skills : Ability to clearly communicate technical requirements and updates to cross-functional teams and senior management.