- Manage and monitor the performance of the Financial Institutions claims book
- Be an external representative to brokers and clients in leading the development of the FI book.
- Examine claims data and underwriting documents to determine validity of notifications received against cover provided.
- 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 leadership 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
- Manage 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.
- Attend internal claim meetings, market meetings and seminars and to represent the company as and when required.
- Communicate with Underwriters and actuarial functions on losses of significant value and losses with issues of note where appropriate.
- Be technically proficient and have a proven record of successfully handling heavyweight Financial Institutions claims. Other Product Line claims (including Management Liability and/or Financial & Political Risk) experience is desirable but not essential.
- Have a good understanding of the insurance industry.
- Be an effective and efficient communicator both orally and in writing.
- Participate in team discussions and help foster a collaborative team approach.
- Support senior members of the company in advancing business wide goals.
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Senior FI Claims Handler - City Of London, United Kingdom - Next Employment Ltd
Description
Financial Institutions senior claims specialist/product lead
Working within the FI team you will be the product lead and most senior claims handler. This is a business focused position where you will be working with underwriters and will be high profile.
You will be managing large exposures/complex claims.
You will be reporting on FI Claims book and potentially mentoring juniors on the team but at this stage there are no management responsibilities.
You will be working on an increasingly lead market concentrating on large market placements (c50% lead with plans to increase this going forward).
This is a Global book with a focus on UK/channel isles, Aus, Canada, Israel, US exposures, some significant Middle East/Africa risks/claims.
You will:
You will need to:
