Head of MGA & Treaty Claims

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

Job description

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Sector: Insurance
Role: Senior Manager
Contract Type: Permanent
Hours: Full Time

Together, we engage with everything we have and are, to help humankind act braver and better.

About Great Lakes Insurance SE:
As a specialty provider of primary insurance services in the UK, Great Lakes London Branch (GLLB) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.

Great Lakes Insurance UK Limited (GLLS), is a primary insurance carrier, regulated by Prudential Regulation Authority and the Financial Conduct Authority, fully owned subsidiary of Great Lakes Insurance SE.

About the role:
We are seeking an experienced and skilled leader to manage a Claims team focused on oversight & control of MGA (Managing General Agents) and TPAs across multiple lines of business (property, casualty, marine, etc.) in the UK and US markets, as well as for managing a portfolio of reinsurance treaty claims across the UK and Ireland. The successful candidate will be responsible for managing and operating a claims function that is effective and operated in line with internal and external requirements and providing timely and adequate claims information to the MGA Head of Claims, the CEO of GLLS, and the respective underwriting teams.

The Head of MGA and Treaty Claims will be a key member of the Global MGA Leadership Team and a certification function holder under the SM&CR.

Key Responsibilities:

• Lead and guide the Claims teams managing MGA and Reinsurance Treaty claims portfolios in alignment with our Global Claims Leadership Values, providing the necessary resources and support to achieve their goals and objectives.
• Implement the new Global Claims setup, ensuring a consistent global and local claims management approach that aligns with Claims Ambition 2025+ and meets the specific needs of Great Lakes.
• Develop and implement strategies to build a high-performing team through inspiring leadership, talent development, diversity, equity, and inclusion.
• Provide partners and clients with a proactive and first-class claims service, focused on fair and timely investigation and evaluation of claims, reducing claims leakage and ensuring that good customer outcomes are provided to customers.
• Effectively perform in collaboration with UK Claims Governance & Reporting team Oversight & Control of MGA/TPA claims within the area of responsibility, improving claims processes while ensuring effective oversight of their claims TPA and their sub delegates.
• Define the local UK claims strategy in line with the Munich Re risk appetite and norms, ensuring compliance with corporate guidelines, tools and proactive investigation, evaluation, and negotiation of coverage and technical issues.
• Own and maintain a fit for purpose claims framework, policy and procedures including claims risks from a risk management standpoint.
• Collaborate with the Global MGA Leadership Team to drive strategic MGA Claims initiatives, promoting claims management excellence within the regulatory framework and taking ownership of claims projects.
• Ensure compliance with all relevant rules, reporting and regulations, including those set by governmental regulatory bodies such as BaFin, PRA, and FCA, through close interaction and cooperation with key stakeholders.
• Satisfying all claims-related regulatory reporting requirements in collaboration with the reporting function.
• Foster cross-team collaboration and support Claims stakeholders, including but not limited to Underwriting, Accounting, Claims Governance & Reporting, compliance, and legal teams.
• Provide expert claims guidance and support for product development, claim reviews, and feedback on overarching trends and lessons learned, aligned with the Global Claims Ambition.
• Deliver timely and accurate claims management information to the Head of MGA Claims and the CEO of GLLS, ensuring they are informed of relevant trends and lessons learned.
• Serve as the FCA contact person in relation to Claims related matters, ensuring compliance with regulatory requirements and maintaining a strong, collaborative relationship with the FCA.
• Regularly engage in continuous conversations with team members to drive performance and growth.
• Represent Munich Re Claims and the MR Group at conferences, market meetings, and industry advocacy institutions, in accordance with the Global Claims Ambition.

Competencies:

• Drives engagement (we think big) - you create a climate where individuals understand team commitments and the Company ambition. They understand how their role contributes to both and you create an environment where they feel motivated and inspired.
• Builds effective teams (we lead the 'we') - you build strong-identity teams that work collaboratively, applying their diverse skills and perspectives to achieve common commitments.
• Values differences (we lead the 'we') - you recognise the value that different thoughts, generations, cultures and experiences bring to your team, business unit and wider across the Group. Thus, ensuring that team dynamics are diverse and inclusive.
• Balances stakeholders (we grow with our clients) - you can anticipate and balance the needs of multiple stakeholders (internal and external), prioritising effectively, challenging appropriately and ensuring value is provided.
• Situational adaptability (we care and dare) - you recognise the need to be flexible and adapt your approach depending on the situation. Whether you are a people manager or technical expert, you lead with empathy, whilst appropriately identifying when to take a stand against complacency and conformity.
• Develops talent (we care and dare) - you develop talent to meet both their personal and professional goals, but also the organisation's goals, identifying opportunities and supporting managers in your team to develop their direct reports (for technical experts this would involve supporting the development of talent).
• Instils trust (we are clear and authentic) - you gain the confidence and trust of others through honesty, integrity and authenticity, building strong relationships and inspiring those around you.

Key Skills & Experience:

• Significant experience in personal lines primary insurance, with a strong background in claims; reinsurance expertise is a plus.
• Demonstrated success in leadership and management roles.
• Deep understanding of insurance and reinsurance coverage interpretation, loss reserving, loss report analysis, litigation management, and client relationship management.
• Broad awareness of related functions within insurance and reinsurance operations, such as underwriting, accounting, reserving, and legal.

Desired Qualifications and Educational Background:

• University degree or equivalent work experience required.

People Leaders:

You are aware of your role (as a leader) in being able to influence your team structure and culture to promote principles of diversity and inclusion. You strive to continuously educate yourself on best practice for inclusive leadership. You demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well. You support a culture in which high ethical conduct is recognised, valued and embodied by all. You treat everyone fairly and with respect. You are responsible for recruiting new talent within your team, in addition to other people management responsibilities such as task management, providing regular feedback, having continuous conversations, development planning/career discussions etc. You are also responsible for driving the performance of your team to meet the business' strategic goals and objectives. You will consider the impact on the wider business when planning and making decisions. You will be considered part of the Senior Management Team. The development of your team is of significant importance to you, you embrace and promote development and act as a Talent Broker, continuously looking for opportunities for them to expand their skills, knowledge and experience.

Regulatory & Conduct Requirements:

• Understanding the responsibilities and adhering to the requirements of undertaking a regulated role under the Senior Manager and Certification Regime.
• Ensuring compliance with applicable regulatory requirements and laws.
• Satisfying all claims-related regulatory reporting requirements in collaboration with the reporting function.
• Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship.
• Ensuring proper oversight and control over claims managed by the MGA/TPAs including sub delegation.
• Ensuring compliance with Munich Re's Code of Conduct and the FCA's Conduct Rules.

Benefits:
You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%. We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.

About us:
You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning. You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders. We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn. You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions. We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged.

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.

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! 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.

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