Claims Manager Financial Lines

Unusual Role for Financial Lines Claims Specialist

Join our project-based insurance specialist team as a Financial Lines Claims Specialist. You will 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.

Key Responsibilities

• Proactively ensure that service providers adhere to the Claims Handling Agreements' terms and conditions and agreed service standards.
• Handle or monitor the referral of large claims outside of delegated authorities.
• Ensure appropriate information/documentation is available and internal claims records are maintained.
• Advise and update reinsurers and management where appropriate.
• Manage internal and external relationships.
• Undertake due diligence on new opportunities.

Role Scope

This is a broad-ranging role. You are unlikely to be a specialist across all areas but you should be knowledgeable enough to know the right people to ask the right questions.

Specific Duties

• 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 monitor 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 the 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.
• Maintain compliance with any applicable UK or International statutory or regulatory obligation as required by the role.