To monitor and oversee the work and services provided by MGAs’ in-house claims departments and claims TPAs on delegated authority programs within the UK, Europe and US.
The Claims Manager’s functions to include: ensuring that service providers adhere to the Claims Handling Agreements’ terms and conditions and agreed service standards; handling or monitoring the referral of large claims outside of delegated authorities; ensuring appropriate information/documentation is available and internal claims records maintained; advising and updating reinsurers and management where appropriate; managing internal and external relationships; undertake due diligence on new opportunities.
- Handle in an accurate and timely manner the referral of large and complex claims and claims falling within the referral criteria of each program; and subsequently monitoring these referred claims in closer detail.
- Report new claims and large loss movements to interested parties/reinsurers and management as required.
- Maintain the flow of information with the actuarial team to ensure all necessary detail is provided to assist with the establishment of claim specific IBNRs at quarter end.
- Oversee monthly analysis of claims performance of live programs with delegated authority and TPAs against expectations to ensure results are in line with forecasts.
- Undertake claims due diligence reviews on new opportunities, which will include UK and overseas travel as required.
- Follow up and resolve MGAs claims audits findings and actions with MGAs/TPAs, providing feedback to AIEL’s audit team.
- Assist the complaints team with claim related complaints.
- Build and maintain relationships with external parties as applicable to each case.
- Review where required claims TPA’s contracts with external suppliers to ensure best rates and terms are in place.
- Oversee projects as required.
- Complete duties as assigned.
- To maintain compliance with any applicable UK or International statutory or regulatory obligation as required by the role. This includes but not limited to obligations arising from:
- The prudent management of the business.
- Placing due regard on the interests of customers.
- Observing rules on Sanctions and financial crime.
- Regulatory requirements and local licensing restrictions.
- Promoting and follow the Group’s whistleblowing procedures.
- Where applicable, following the Company’s Consumer Duty principles to deliver good outcomes for retail customers
• Strong technical knowledge and experience of claims.
• Good communication and negotiation skills.
• Good analytical and problem-solving skills.
• Ability to multi-task and work in an environment with changing priorities.
• Good written reporting skills.
• Knowledge of IT systems.
• Ability to work to strict deadlines.
• Ability to influence others.
• 10+ years’ claims experience in various classes Financial Lines insurance claims is essential. These classes could include Directors & Officers, Professional Indemnity, Cyber, Political Risk, Contingency, ATE, Legal Expense.
• Exposure to claims in several European jurisdictions an advantage.
• Proficient in office products incl. Word, Excel and PowerPoint.
• Experience of delegated authorities/program management advantageous.
• Fluent in Italian or other European languages advantageous.
• Legal or CII Qualified advantageous.
