Most commonly reported Work Activities

• Establishing and Maintaining Interpersonal Relationships Developing constructive and cooperative working relationships with others, and maintaining them over time.
• Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
• Selling or Influencing Others Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
• Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
• Organising, Planning, and Prioritising Work Developing specific goals and plans to prioritise, organise, and accomplish your work.
• Evaluating Information to Determine Compliance with Standards Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
• Making Decisions and Solving Problems Analysing information and evaluating results to choose the best solution and solve problems.
• Performing for or Working Directly with the Public Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
• Processing Information Compiling, coding, categorising, calculating, tabulating, auditing, or verifying information or data.
• Developing Objectives and Strategies Establishing long-range objectives and specifying the strategies and actions to achieve them.

The Work

Reinsurance companies are the insurance industry’s own insurers, enabling insurance companies to off-set their own exposures to large claims or a series of claims occurring at the same time.

The Reinsurance Technician provides support in the undewriting of reinsurance risks, identifying new business opportunities and developing and maintaining client relationships.  

Reinsurance technicians play a pivotal role in this process and will normally specialise in a particular area such as aviation or marine risks.

The range of risks is diverse, so insurance specialists will exist in every area from catastrophe risk, to aviation risk to entertainment.

In taking a risk onto its books the re-insurer has to make a judgement call as to the statistical likelihood of a claim being made and also future developments which may fundamentally change the nature of the risk. A reinsurance technician may be involved in this process or may be responsible for looking at and processing claims. There are several facets to the role:

Technical Analysis - Reinsurance technicians may assist underwriters and work with a variety of other professionals such as lawyers, statisticians and scientists, to develop views on the current and future risk probabilities. Their role is to assist in the evaluation of existing and new business including negotiating with insurers about terms, conditions and prices. Their role is to help underwriters and brokers to build bespoke insurance programmes to protect the re-insurer and meet the objectives of their clients based on price and other technical factors.

Legal Analysis - There are a variety of legal restrictions that may apply and these may vary across countries. Reinsurance technicians may be expected to work with lawyers in order to draft documentation and create policy wording as appropriate, or amend policies for renewals.

Actuarial and Pricing Analysis - Reinsurance Technicians work with actuarial professionals to monitor the pricing of re-insurance contracts, typically drafting initial pricing.

Processing - Reinsurance Technicians are expected to process claims and renewal policies, and to monitor policies to make sure that their technical provisions are being met. They may also be responsible for collecting debts on existing policies.

Most commonly reported Work Tasks

• Customise insurance programs to suit individual customers, often covering a variety of risks.
• Sell various types of insurance policies to businesses and individuals on behalf of insurance companies, including automobile, fire, life, property, medical and dental insurance, or specialised policies, such as marine, farm/crop, and medical malpractice.
• Explain features, advantages, and disadvantages of various policies to promote sale of insurance plans.
• Perform administrative tasks, such as maintaining records and handling policy renewals.
• Seek out new clients and develop clientele by networking to find new customers and generate lists of prospective clients.
• Call on policyholders to deliver and explain policy, to analyse insurance program and suggest additions or changes, or to change beneficiaries.
• Confer with clients to obtain and provide information when claims are made on a policy.
• Interview prospective clients to obtain data about their financial resources and needs, the physical condition of the person or property to be insured, and to discuss any existing coverage.
• Contact underwriter and submit forms to obtain binder coverage.
• Select company that offers type of coverage requested by client to underwrite policy.

This occupation is typically suited for people with the following Career Interests:

Administrative

Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.

They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.

Enterprising

Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.

Investigative

The Investigative person will usually find a particular area of science to be of interest. They are inclined toward intellectual and analytical activities and enjoy observation and theory. They may prefer thought to action, and enjoy the challenge of solving problems with sophiscticated technology. These types prefer mentally stimulating environments and often pay close attention to developments in their chosen field.

There are many pathways to develop a career in Insurance. 

Training & Development

FET Centre Traineeship: Business & Office Admin, Accounting Technician in centres around Ireland NFQ Level 5 Search FET Courses

FET Centre PLC courses Business administration & Financial services, Accounting and Insurance (Pre-Apprenticeship), Banking, Insurance and Financial Services - Pre-Apprenticeship, Business with Insurance, e-Business Studies with Banking and Insurance at NFQ Level 5 search FET PLC Courses

Apprenticeship Insurance Apprenticeship programmes NFQ level 6-8 Search apprenticeships

Insurance brokers may study for the professional examinations of the Chartered Insurance Institute or the Chartered Institute of Loss Adjusters. The Reinsurance Technician provides support in the undewriting of reinsurance risks, identifying new business opportunities and developing and maintaining client relationships.  

Employers also recruit graduates from a wide range of academic subjects. A degree many disciplines is acceptable though risk management, insurance or subjects with insurance or financial options are preferred. Business Studies Administration, Economics, Statistics, Computing and law can provide useful background knowledge.  

Post Graduate Study Options Insurance - Life & General - for Data Scientists, Risk Management & Insurance at NFQ level 9

Professional Development

If you want to progress into management it is usually necessary to pass the Associateship examination of the Chartered Insurance Institute (CII).

The CII also offers training leading to an Insurance Foundation Certificate a Diploma of Insurance Practice and an Advanced Diploma in Insurance. The representative body for the CII in Ireland is The Insurance Institute of Ireland which also offers additional Irish law and practice focussed programs alongside the Associateship.

Last Updated: April, 2023

Salary Range (thousands per year)* €35k - €65k

Salaries vary based on employer, location, experience, duties, and role.

Data Source(s):
Azon/ Morgan McKinley/ Brightwater/ Sigmar/ Lincoln/ Osborne/ Clark

Last Updated: July, 2024

* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.

View Salary information from Indeed.ie
Note: data not aways available

This information has been derived from the Solas National Skills Bulletin (2023).

Employment levels have grown annually since 2018, with particularly strong growth between 2021 and 2022 of an additional 5,500 persons. Almost all employment is concentrated in the financial activities sector. The share of non-Irish citizens employed, at 23%, was above the national average of 19% and was the highest share across the business/financial occupations.

The CSO Census data for 2022 shows that finance and investment analysts/advisers account for the largest share of employment in this group at over 70%, with insurance underwriters and brokers making up the remainder. Employment permits issued primarily related to various financial analyst roles in the financial sector. Although employment grew strongly in 2022, a 20% fall in online job adverts (particularly for finance/investment analysts) would signal that this growth rate may slow.

• Insurance Institute of Ireland

  • Insurance Centre, 5 Harbourmaster Place, IFSC, Dublin 1, D01 E7E8
  • (01) 645 6600
  • [email protected]
  • Click Here

• FSU Financial Services Union (former IBOA)

  • Stephen Street Upper, Dublin 8, D08 DR9P
  • (0)1 4755908
  • [email protected]
  • Click Here

• LIA

  • LIA House, 183 Kimmage Road West, Dublin 12
  • 01 - 456 3890
  • [email protected]
  • Click Here