Claims Adjuster - London, United Kingdom - Endurance Specialty Holdings Ltd.

Description

Claims Adjuster - First Party Claims
Sompo International Holdings Ltd. (Sompo International) is a specialty provider of property and casualty

insurance and reinsurance, established in March 2017 as the result of the acquisition of Endurance Specialty

Holdings Ltd. by Sompo Holdings Ltd. (Sompo).

Sompo's core business encompasses one of the largest property and casualty insurance groups in the

Japanese domestic market. In addition, Sompo is engaged in the provision of insurance services as well as

other related services through its global network of businesses operating in 32 countries around the world.

Sompo International is the international operation and a wholly owned subsidiary of Sompo, which trades

on the Tokyo Stock Exchange. Through our operating subsidiaries, Sompo International underwrites

agriculture, professional lines, property, marine and energy, and casualty and other specialty lines of

insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of

reinsurance.

As a leading global provider of insurance and reinsurance, we recognize that our success is derived directly

from those who matter most:
our people. Sompo International's headquarters is in Bermuda and we

currently have offices in the United States, the United Kingdom, Continental Europe, and Asia. At Sompo

International, a shared commitment to integrity, teamwork, agility, execution, and excellence define our

culture, and we strive to create exceptional value for our clients and shareholders and maintain Sompo

International as a desirable place to work.

We are seeking a
Claims Adjuster to join our
London Market First Party Claims team. The role involves the

examination, analysis, reserving, negotiation and settlement of claims from cradle to grave. This includes the

review of claims data and underwriting documentation to ascertain validity of losses notified and establish

premium payment status. The handler is required to establish adequate reserves and make reserving

decisions about potential losses in a timely and professional manner to meet levels of service expected by

internal and external customers. The role requires that the handler recognises contentious issues and where

appropriate informs claims management to discuss legal obligations and/or remedies and take appropriate

action, therefore ensuring that only valid claims are paid.

The position will be actively involved in the negotiation of settlements, attending market meetings, and

authorisation of claims, therefore must have good knowledge of the London market. As well as adhering to

all internally set Key Performance Indicators, the handler must comply with all regulatory requirements.


Responsibilities include:

Examine claims data and underwriting documents to determine validity of notifications received

against cover provided and establish premium payment status for both the Company and Syndicate

platforms.

Undertake leader obligations responsibly, thereby preserving and protecting EWIL & SIIE's image as

a respected leading underwriting entity.

Assist with claim reviews and audits at the offices of Coverholders, ceding companies, TPAs and other

Insurers and to report on their compliance or otherwise with terms and conditions of risks written

and their overall claims handling service.

Establish adequate reserves for the estimated amounts of anticipated loss and/or adjustment and

coverage expenses.

Negotiate settlements and authorise claim payments in a professional and timely manner to meet

the levels of service expected by the market, our customers and other stakeholders.

Recognise contentious issues and, where appropriate, inform claims management to discuss legal

obligations and/or remedies and take appropriate action.

Inform claims management for onward reporting of any large or unusual losses in order that financial

exposure can be fully evaluated and future corrective measures can be determined. This includes the

drafting of Large Loss Notices in a timely manner for distribution around the business and the

maintaining and updating of the company Claims Watchlist.

Manage and monitor the performance of outsourced Coverholders and TPAs where appropriate to

ensure that customers are receiving a good level of service from both our external and internal claims

handlers.

Maintain files and documentary evidence to create an audit trail of claim values into the computer

system and through the books of the company.

Conduct regular reviews of the claim portfolio to assess the adequacy of reserves being carried.

Attend internal claim meetings, market meetings and seminars and to represent the company as and

when required.

Communicate with Underwriters on losses of significant value and losses with issues of note where

appropriate.

To ensure that appropriate 'soft skills' are utilised in order to communicate with people internally

and externally in an effec