Description:
The individual will contribute across the organisation by providing input, advice and review to underwriters and actuaries, participate in onboarding and stewardship meetings with customers and influence operations.
Key Responsibilities:
- Manage a portfolio of claims of varying severity within defined technical authority from first advice through to settlement, including, coverage review, fact investigation, loss evaluation, and designing and executing on an appropriate claim resolution strategy.
- Keep Claim Management and Internal Stakeholders aware of loss potential and material claim developments, consistent with the Claim Handling Expectations and Standard Operating Procedures.
- Experience managing a variety of First Party claims such as UK Real Estate, Commercial or Corporate Property.
- Knowledge and experience of Energy & Construction related products and claim handling beneficial.
- Strong knowledge of Property coverage and endorsements.
- Review and analyse coverage, prepare appropriate coverage position letters, and collaborate with underwriters to support policy construction and drafting, reporting claim trends, data analysis, and risk assessments.
- Ability to review, analyse, investigate, and evaluate property damage exposures, estimates, including physical damage, business interruption, subrogation, and recovery.
- Management and direction of outside lawyers, including reviewing and approving legal and/or expense budgets and bills.
- Ability to manage, direct and audit independent vendors (loss adjusters, TPAs, assistance companies)
- Preparation of case summary reports related to matters of significant reserve activity, and effective communication to key stakeholders.
- Timely and appropriate setting of claim reserves.
- Development and execution of claim strategies as well as resolution strategies.
- Negotiation and resolution of claims, including the attendance at trials, mediations, and settlement discussions.
- Participate in claim reviews, quarterly claims reserving meetings, claim audits and peer reviews, and stewardship meetings.
- Identify issues and trends in the portfolio; take appropriate and/or corrective action where necessary; communicate insights and trends to underwriters, insureds, and brokers.
- Effective communication and collaboration with internal stakeholders (Claims Leadership, Underwriters, Finance, Actuaries, Ceded Reinsurance), and externally with insureds, co-insurers, brokers, TPAs, reinsurers and vendors
- Attend client meetings and industry functions to support retention and development of client business and broker relationships.
Qualifications, Education & Experience:
- The ideal candidate will have worked in a similar Mid Level / Senior Commercial Property claims position and have working knowledge of jurisdictional laws and regulations.
- Ability to evaluate coverage issues involving a wide variety of loss scenarios.
- Strong analytical and organisational skills
- Excellent verbal and written communication skills
- Strong negotiation and investigation skills
- Ability to think strategically.
- Self-directed and organized.
- Ability to influence others and resolve complex, disputed claims.
- In-depth knowledge of the litigation, arbitration, and trial process
- Ability to identify and use relevant data and metrics to best manage claims.
- Collaborative mind-set and willingness to work with people outside immediate reporting hierarchy to improve processes and generate optimal departmental efficiency.
- Ability and willingness to present to senior management and to others in other group settings.
- Knowledge of the insurance industry claims process and legal and regulatory environment.
- ACII qualified, degree educated professional is preferrable.
- Experience with a global insurance company working across multiple underwriting platforms, jurisdictions, and markets.
- Good working understanding of London Market claims systems (ECF, IMR, Trax)