We are seeking an experienced Senior Claims Examiner to join the Professional Lines Claims Team at a leading global insurer to handle a broad portfolio of Management Liability and Professional Indemnity claims, subject only to light-touch involvement from claims management. The role will be based in the London office. It involves the examination, analysis, negotiation and settlement of complex Management Liability and Professional Indemnity claims from cradle to grave, including: reviewing claims data and underwriting documentation to ascertain validity of losses notified; adhering to internal and external Key Performance Indicators and regulatory requirements; establishing appropriate reserves and resolution strategies in a timely and professional manner to meet levels of service expected by internal and external customers.
The successful candidate will have an excellent knowledge of the London Professional Lines Insurance market, be able to recognise contentious issues/potentially significant claims at an early stage in their lifecycle and ensure they are dealt with appropriately (including informing claims and underwriting management about them). They will be expected to identify and knowledgeably discuss claims trends in the Management Liability and Professional Liability markets within the claims team and with other stakeholders in the business.
The successful candidate will be required to assist in the development/training other colleagues (inside and outside of claims) to enhance their knowledge on Management Liability / Professional Lines claims and specific accounts. They will be expected to develop and own effective working relationships internally and with brokers and service providers as well as assisting in building the firm's profile in the claims market.
Responsibilities include:
- Confidently and competently handling all aspects of complex, multi-faceted domestic and international Management Liability and Professional Indemnity claims.
- Examining claim data and underwriting documentation to ascertain validity of losses notified against cover provided and establish premium payment status.
- Undertaking claim handling obligations responsibly, thereby preserving and protecting the firm's image as a respected leading underwriting entity.
- Establishing, reviewing and updating appropriate resolution in a timely manner.
- Negotiating settlements and authorising claim payments in a timely manner to meet the levels of service expected by the market, our customers and other stakeholders.
- Confidently driving the Watchlist process and understanding the importance of IBNR
- Ensuring their files are adequately documented and fully up to date at all times.
- Managing and monitoring the performance of service providers (including Coverholders, ceding companies, TPAs, panel lawyers and loss adjusters) and other Insurers and reporting on their compliance or otherwise with terms and conditions of risks written and their overall claims handling service.
- Recognising contentious issues, large or unusual claims and trends/patterns and where appropriate, informing claims, underwriting and actuarial management of the same.
- Conducting regular reviews of the claim portfolio to assess the adequacy of reserves being carried.
- Attending and leading internal claim meetings, market meetings and seminars and to represent the company as and when required.
- Discussing their claims with Underwriters and actuaries and explaining their strategic and reserving decisions on losses of significant value and losses with issues of note where appropriate.
- Ensuring that appropriate 'soft skills' are utilised in order to communicate with people internally and externally in an effective and professional manner.
Desired Skills & Experience
- This role requires a handler of at least 6 years' experience in the insurance industry handling domestic and international third party Professional Lines claims.
- Be extremely technically proficient and have a proven record of successfully handling complex, multi-faceted Management Liability and Professional Indemnity claims.
- Have an excellent understanding of the insurance industry, particularly the London insurance markets and their claims systems (e.g. ECF2, the IMR and Writeback).
- Be an effective and efficient communicator both orally and in writing.
- Be willing to support/develop junior members of the team and advance/enhance their technical skills.
- Actively participate/contribute in discussions around claims trends and patterns within the claims team and with underwriters and actuaries.
- IT/PC skills to include Word, Excel and PowerPoint.
- Adhere to existing procedures and think of creative and efficient ways of streamlining processes and procedures.
- Be able to network and establish relationships effectively with brokers, service providers and internal stakeholders.
- It would be desirable for the candidate to have a legal background / qualifications / speak more than one language.
Please get in touch with Tom Meijer, Recruitment Specialist, Underwriting and Claims : t.meijer@gravitasgroup.com.