Premium Accounting Specialist

About the Role

The Premium Accounting Specialist is primarily responsible for the allocation of payments received from brokers to invoices/receivables, processing payments in the Canopius billing/accounting system, and working closely with underwriting business partners to collect past due premiums.

Responsibilities

• Match broker remittances to invoices by reviewing remittance details, confirming receipt in premium trust accounts, and linking remittances to invoices.
• Research and resolve premium discrepancies (e.g., missing remittance details, short payments, overpayments) by collaborating with broker accounting staff and underwriting business partners.
• Process payments in the Canopius billing/accounting system in the same month they are received, ensuring accuracy (e.g., posted to the correct policy with the correct risk attributes).
• Assist in the collection of past due premiums by monitoring aging receivables and escalating past due items to the appropriate underwriter.
• Support the month-end closing process by researching unapplied cash and providing Finance with reasons for each unapplied payment.
• Generate signed (premium) bordereaux to report all premiums collected and processed during the accounting period, and provide them to Finance and Canopius’ internal London broker (Central Broking Services).
• Request write-offs and premium disbursements (refunds) as necessary.

Requirements

• 2+ years of insurance accounting experience.
• Knowledge of insurance policy administration and billing/accounting systems (a plus).
• Strong math and bookkeeping skills.
• Proficiency in Microsoft Excel.
• Ability to work effectively in a team-based, customer-oriented environment.
• Excellent interpersonal, written, and verbal communication skills.
• Strong research and analytical skills to resolve policy discrepancies.
• Ability to prioritize daily work efforts, manage time pressures, and handle multiple priorities.
• Ability to quickly adapt to new systems and build relationships with underwriters and brokers.

Pay

Salary Range: $60,000 - $70,000

Benefits

We offer a comprehensive benefits package focusing on whole wellbeing, including:

• Hybrid working model.
• Competitive base salary.
• Non-contributory 401k.
• Discretionary bonus.
• Medical, dental, and vision insurance.
• Additional benefits to enhance financial, physical, social, and psychological health.

About Canopius

Canopius is a global specialty lines (re)insurer and a leading insurer in the Lloyd’s of London market, with offices in the UK, US, Singapore, Australia, and Bermuda. We foster a positive culture that values unique contributions, challenges employees to excel, and promotes a work environment free of discrimination and harassment. Canopius is committed to equal employment opportunities and provides reasonable adjustments throughout the recruitment process and during employment.