Assistant Vice President, Global Markets Claims Group

Allied World; London; On-site; GBP 70,000 - 100,000; Full time

Job summary

Join a leading company in the insurance sector as an Assistant Vice President, where you will manage complex professional indemnity claims. This role is essential for upholding quality service and involves significant engagement with senior management and external partners, requiring excellent negotiation, organizational, and communication skills.

Qualifications

• 7+ years of professional indemnity complex claims handling experience.
• Excellent oral and written communication skills.
• Proven ability to work with senior management and clients.

Responsibilities

• Adjusting UK Professional Indemnity claims and managing claims within specified authority.
• Review and maintain a caseload and comply with internal procedures.
• Manage recoveries and ensure positive claims outcomes.

Skills

Negotiation

Communication

Technical skills

Organizational skills

Portfolio management

Resilience

Collaboration

Tools

Microsoft Office Suite

Knowledge of claims systems

Job description

Job Description - Assistant Vice President, Global Markets Claims Group (25000035)

Take the next step in your career with us.

Allied World is an ideal place for talented professionals who are driven by a belief in the value of collaboration and the power of knowledge.

We believe that when our great people work together and support one another, our clients receive the best solutions. We embrace unique perspectives and empower each person to grow through professional development, career training and mentoring programs.

Our people are our most important asset, and we are very proud of the quality of our team members.

Responsibilities/Duties:

• Adjusting a portfolio made up of predominantly UK Professional Indemnity claims.
• Set up, investigate and authorize claim payments within specified authority.
• Review incoming claim correspondence on existing claims, formulate response and create workflows.
• Prepare claims correspondence on questions of coverage and claim value within specified authority.
• Instruct and manage experts (i.e., lawyers, counsel, experts) as required.
• Negotiate and settle claims within specified authority and recommend reserves beyond authority to appropriate management as necessary.
• Review and maintain your caseload (i.e., reviewing incoming claim correspondence, formulating responses, maintaining an update to diary) in accordance with current internal claims procedures and comply with agreed key performance indicators.
• Reserve in accordance with our claims philosophy.
• Adhere to internal procedures (e.g., declinatures, large losses, complaints, fraud, etc.)
• Draft/amend declinatures and refer into the head of UKC and/or European Head of Claims for approval.
• Manage and handle claims that fall outside any delegated authority.
• Demonstrate ability to manage recoveries.
• Carry out aged file/static claims reviews as required.
• Proactively manage vendors, such as defence counsel and coverage counsel.
• Demonstrate ability to influence good claims outcomes (e.g., representing AW interests at market meetings, mediations, settlements, driving claims outcomes, etc.) where necessary.
• Develop good relationships internally (senior management, underwriters, claims, finance, etc.)
• Work with underwriters to provide updates, evaluate exposures, and assist with development of policy wordings and other contractual documents where required.
• Help build the claims proposition by developing good relationships externally for benefit of AW (e.g., vendors, brokers, clients, etc.) if necessary.
• Display good management skills either from a direct report perspective or by mentoring junior team members.
• Perform internal and on-site claim audits if required.
• Prepare claim and statistical reports as required.
• Assist with coordination of and carrying out of TPA audits when necessary.
• Assist in management projects as required.
• Prepare materials for line of business meetings.
• Prepare claims materials for policy renewals where required.
• Participate in annual claims presentation.
• Have the ability to step in and manage the team in the absence of the VP (with supervision).

Qualifications

• 7+ years of professional indemnity complex claims handling experience.
• Insurance-related courses/experience are an advantage.
• Good understanding of primary and excess professional indemnity policy wordings.
• Knowledge of UK SME & London market beneficial.
• Proven ability to work with senior management, claims/legal professionals, other insurers, brokers, affiliated companies, and clients.
• Excellent oral and written communication skills.
• Excellent organizational skills and the ability to work on multiple tasks concurrently.
• Excellent technical skills – coverage/defence/reserving/file management/KPI’s.
• Excellent understanding of claims systems.
• Strong business writing skills.
• Ability to present well to senior management (Large Loss meetings, etc.)
• Some understanding of portfolio management and ability to interpret reports on Claims MI and use EDW.
• Good knowledge of the Microsoft Office Suite.
• Knowledge of Genius, TRAX, Open Box, ECF would be a plus.
• A resilient self-starter who can immediately handle a diverse range of claims and responsibilities.
• The ability to work well, remain calm under pressure, and thrive in a team environment.
• Appropriate behaviour in office and within the team, demonstrating positivity and proactivity.