Premium Booking Specialist

Premium Booking Specialist

NIGHT SHIFT 9pm-6am

ONSITE in QC/BGC

Job Summary

The Premium Booking Specialist is responsible for the timely, accurate, and complete recording of insurance premium transactions into the company's policy administration and financial systems. This role serves as a critical link between underwriting, operations, finance, and billing to ensure premium is properly recognized and accounted for throughout the policy lifecycle.

The ideal candidate has strong attention to detail, understands Property & Casualty insurance operations, and can accurately process new business, renewals, endorsements, cancellations, audits, and premium adjustments while maintaining data integrity and compliance with company procedures.

Key Responsibilities

Premium Processing

• Book insurance premiums accurately for new business, renewals, endorsements, cancellations, reinstatements, and policy audits.

• Review policy documentation to ensure premium calculations are complete and accurate before booking.

• Verify policy information, coverage details, effective dates, limits, deductibles, commissions, taxes, and fees.

• Ensure premium transactions are recorded in accordance with company accounting procedures and applicable regulatory requirements.

Premium Reconciliation

• Reconcile premium transactions between underwriting, policy administration, billing, and accounting systems.

• Identify discrepancies and work with Underwriting, Operations, Finance, or Client Services to resolve issues.

• Research premium variances and document corrective actions.

• Monitor suspense items and aging transactions to ensure timely resolution.

Data Quality

• Maintain high levels of data accuracy across all systems.

• Validate premium calculations and policy information before final posting.

• Perform quality assurance reviews on completed transactions.

• Recommend process improvements that reduce errors and improve efficiency.

Financial Support

• Support month-end and year-end closing activities.

• Assist with premium reporting and reconciliation requests.

• Prepare reports for management, Finance, and internal auditors.

• Support premium trust accounting and regulatory reporting as required.

Cross-Functional Collaboration

• Work closely with:

o Underwriting

o Policy Administration

o Billing

o Client Services

o Premium Accounting

o Finance

• Communicate discrepancies promptly and professionally.

• Participate in process improvement initiatives and system enhancements.

Qualifications

Required

• 2–5 years of Property & Casualty insurance experience.

• Experience processing insurance premium transactions.

• Understanding of insurance policy lifecycle:

o New Business

o Renewals

o Endorsements

o Cancellations

o Reinstatements

o Audits

• Strong attention to detail.

• Excellent analytical and organizational skills.

• Intermediate Microsoft Excel skills.

• Ability to manage multiple priorities in a deadline-driven environment.

• Excellent written and verbal communication skills.

Preferred

• Experience working for a P&C Insurance Carrier, MGA, or Wholesale Broker.

• Premium accounting experience.

• Knowledge of statutory insurance accounting principles.

• Experience with policy administration systems such as Guidewire, Duck Creek, Majesco, or similar platforms.

• Experience with financial systems including Oracle, SAP, Workday, or Microsoft Dynamics.

• Associate's or Bachelor's degree in Accounting, Finance, Business, Insurance, or related field.

Technical Skills

• Microsoft Excel

• Microsoft Office Suite

• Policy Administration Systems

• Premium Accounting Systems

• Insurance Billing Systems

• Data Validation

• Financial Reconciliation

• Reporting Tools