Financial Lines Claims Manager

Department: Claims
Employment Type: Permanent - Full Time
Location: London
Reporting To: Danielle Vella

Description

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

Key Responsibilities

• 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