Head of Energy & Complex Risk Claims

Munich Re; London; On-site; GBP 60,000 - 100,000; Full time

Job summary

An established industry player seeks a Head of Energy and Complex Risk Claims to lead a diverse claims portfolio. This pivotal role involves managing complex claims, ensuring adherence to guidelines, and fostering a culture of positivity and inclusion. The ideal candidate will possess proven claims handling experience and a solid understanding of insurance principles. Join a dynamic team committed to innovation and excellence in the insurance sector, where your contributions will help shape the future of specialty insurance. If you're ready to take on a challenging yet rewarding role, we encourage you to apply!

Qualifications

• Proven claims handling experience in specialty insurance.
• Understanding of FCA rules and Lloyd's regulations.

Responsibilities

• Manage and direct claim handling for complex claims.
• Identify training needs and propose improvements.
• Develop strong business relationships with stakeholders.

Skills

Claims Handling

Insurance Principles

Legal Principles

FCA Rules and Regulations

Lloyd’s Regulations

Education

University Degree

Relevant Professional Qualification

Job description

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinnedby an effective and adaptablestrategy,superior products and industry leaders working in a supportive environmentto achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

The Head of Energy and Complex Risk Claims is a critical role in our growing Specialty, Property & Casualty London Market portfolio. This role has oversight and is responsible for a diverse, complex claims portfolio arising from (inter alia) our casualty, energy, marine liability, space, marine war, aviation (war and hull), political risks & credit, political violence & terrorism, product recall and XoL classes. It will also manage and develop a leading market team and ensure a consistent, proactive and diligent approach to claims management. This role will also ensure adherence to Claims guidelines, best practices and regulatory requirements, work with Claims & UW leadership to define and implement strategic direction, provide insight and guidance on claims and claim trends, and promote a culture of diligence, curiosity, positivity and inclusion within the organization.

Responsibilities:

• Manage and provide proactive claim-handling direction to all team members within your portfolio with respect to investigation, assessment, reserving, expense/ vendor management, and settlement in accordance with Claims guidelines and best practices.
• Monitor and oversee strategy on high exposure, litigated, coverage, and complex claims to ensure optimal claim outcome and timely escalation.
• Ensure the accuracy of financials for claims and classes within your responsibility.
• Perform regular file reviews, participate in internal and external audits, and manage the team to ensure guidelines, regulations and protocols adherence are consistently met across the team.
• Identify training needs and operational issues and provide proposals for continual improvement to Claims leadership team.
• Identify and present key claim issues, large or complex claims, claim trends and product improvement recommendations to internal and external stakeholders.
• Work collaboratively and help develop strong business relationships with a wide array of internal and external partners to strengthen the business through market meetings, thought leadership and best-in-class service.
• Manage and provide assistance with delegation and/or as International Distribution Companies as needed.
• Model and promote a culture of positivity, inclusion, and continuous improvement to maximum employee engagement.
• Mentor and develop colleagues ensuring opportunities to continually progress and reach their full potential.
• Help 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.

Knowledge and Skills

• Proven claims handling experience within the applicable business classes
• 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.
• University Degree and/or relevant professional qualification

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.