Claims Handler - London, United Kingdom - IQUW
Description
Overview:
Reporting to:
Head of Professional Lines and Specialty Claims
Location:
London
About Us
IQUW is a speciality (re)insurer at Lloyd's (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War.
The Role
Key Responsibilities
- Demonstrate and champion an inclusive culture that reinforces IQUW's brand, values and behaviours;
- Adjust, assess and manage assigned claims within a defined authority;
- Ensure coverage is accurately reviewed and that reserving is correctly set and maintained throughout a claim's life cycle;
- Ensure that claims are always handled proactively and in accordance with Claims Management Guidelines;
- Define file strategies and negotiate settlements in accordance with policy terms and conditions;
- Ensure compliance with applicable Lloyd's standards and all regulatory and statutory requirements relating to claims handling at all times;
- Manage claims with attention to escalating correctly and referring appropriately where support or guidance is needed or required;
- Report on large losses expediently, both internally and to defined external stakeholders;
- Attend market claims meetings, as required;
- Represent IQUW's values when liaising with and working with brokers, policy holders, service providers and other external stakeholders;
- Support and collaborate closely with Specialty Underwriters, including attendance at regular team meetings, provision of claimsrelated information, support with policy wordings and endorsements, and attendance at preinception/renewal/claims review meetings, as required;
- Provide assistance to and collaborate with pricing and reserving actuaries, management information team, outwards reinsurance team, finance, and other internal stakeholders;
- Travel domestically or internationally, as required;
- Assist with reviews of vendor panels;
- Assist with claim audits and serviceprovider audits;
- Assist with legal and/or claims studies and presentations both internally and externally;
- Champion IQUW in the market and the Claims function internally through fulfilling the expectations of the role at a high standard;
- Follow processes to achieve claims standards relative to IQUW's underwriting portfolios, agreed strategies and requirements and regulatory commitments
- Commit to a continuous improvement, training and development of technical knowledge; and
- Work effectively with peers in shared functions within IQUW to provide seamless delivery of the company's objectives.
- The above duties and responsibilities are not an exhaustive list; you may be required to undertake other reasonable duties compatible with your experience and competence. This description may be varied from time to time to reflect changing business requirements._
Essential Qualifications, Skills and Experience
- Strong academic background, including working toward CII qualifications or suitable alternatives for the particular role;
- Relevant experience in commercial / specialty insurance within the Lloyd's and/or London Market;
- Experience in managing lawyers, loss adjusters and other thirdparty service providers in relevant markets;
- Knowledge of key processes within the Lloyd's Market, including the applicable Lloyd's Claims Scheme and how it might affect IQUW's position and role on a given insurance policy;
- Working knowledge of ECF2 / writeback systems;
- Some knowledge of the UK and US legal systems, with a preference toward experience in US claims handling;
- Experience in market meetings with other insurers/reinsurers and service providers, and a willingness to engage in client and broker meetings
- Demonstrating establishment of a peer network with brokers, other insurers and experts;
- Ability to develop and maintain relationships with both internal and external customers;
- Ability to prioritise and organise workload and meet deadlines; and
- Skilled problemsolving and acting on one's own initiative.
Desirable Behavioural Attributes
- Exhibits strong written and oral communication skills;
- Focuses on performance and driving results;
- Builds strong relationships and leverages them to achieve outcomes;
- Owns decisions but seeks help where and when required;
- Thinks strategically with a serviceoriented mentality toward the role; and
- Leads by example, exhibits a positive attitude and champions the company culture.
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