Senior Claims Adjuster - Special Risks (Contingency)

Company
Munich Re Specialty Group
Location
London , United Kingdom

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.

About us

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Senior Claims Adjuster, Special Risks (Contingency)

We are looking to employ a Senior Claims Adjuster to be based in London and to work with us on a Full-Time basis.

If you’d like to work within a results driven and collaborative team atmosphere where you can make difference, we’d love to hear from you.

The Role

• Manage and adjust all inward claims within claims handling/settlement authority and in accordance with claims handling procedures.
• Mentor and develop other employees within these business lines, ensuring opportunities to continually progress and reach their full potential.
• Provide assistance as and when required to the International Distribution Companies
• Liaise with Claims Agreement Parties, Xchanging, loss adjusters, lawyers, brokers, underwriting teams and other third party experts.
• Report claims in accordance with claims reporting requirements
• Ensure that relevant records are made and kept in accordance with the firm’s procedures and compliance manuals.
• Ensure the accuracy of figures held on S2000 for those claims falling within the role’s settlement authority
• Assist in a quarterly review of open reserves to the Syndicate of claims falling within the classes of business authorised to manage, to determine whether a reserve is adequate, with a view to enabling production of accurate figures.
• Attend claims meetings and discussions.
• Assist in the handling of complaints and the liaison with Compliance, Lloyd’s and FCA where appropriate.
• Understand and comply with the Lloyd’s Minimum Standards and Claims Schemes where appropriate.
• Drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.
• You are required to comply with the PRA and FCA conduct rules

What we are looking for

The objective of this role is to manage the claims and service supply-chain function for MRSL, MRSG and MRSI UK.

Working closely with the existing claims teams and other primary risk carriers of the Munich Re Group.

You will have oversight and control of a diverse claims portfolio arising from the Special Risks portfolio, including Contingency, Personal Accident, Product Recall, Aquaculture and Bloodstock. Along with any other classes of business as deemed appropriate, within claims handling authority.

To take a proactive approach to the management of claims and to provide a quality claims service, which pays valid claims promptly and sets reserves at expected ultimate cost, effectively, efficiently, consistently, accurately and in a timely manner, whilst taking account of applicable regulatory requirements. You will take the lead on continuous improvements in the reserving and settlement process of losses, in close collaboration with our capacity providers, actuarial teams and third-party service companies (e.g. loss adjusters, legal advisors, surveyors, etc.).

Providing expertise to the International Distribution Companies where required and ensuring that any regulatory requirements are complied with.

Key Skills & Experience

• Proven claims handling experience within the applicable business classes
• ACII qualification or relevant experience. Sound business knowledge and understanding of:
  • Underlying principles of insurance practice
  • Generic legal principles
  • FCA rules and regulations
  • Lloyd’s regulations
• Demonstrate clear understanding of all company specific procedures that relate to own role
• Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the organisation
• Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation
• Identify, where relevant, any potential risks facing the business and the controls that are in place to mitigate them. Report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.
• Good knowledge and understanding of claims within authority level.

Qualifications

• Relevant professional qualification(s)

Your career with us

At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!

Diversity & Inclusion

Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Working together, we are an employer of choice by building the workforce for today and the future.We make it happen. Together.

Push Boundaries. With us. | Munich Re