Senior Claims Adjuster FI/D&O

Munich Re; London; On-site; GBP 40,000 - 80,000; Full time

Job summary

An established industry player seeks a Claims Manager to oversee claims management within a dynamic team. This role involves verifying and settling claims, negotiating with clients, and ensuring adherence to operational standards. You will play a crucial role in shaping the future of claims management while building strong relationships with key stakeholders. The company values empathy and innovation, providing a supportive environment where diverse talents thrive. If you're looking for a rewarding opportunity to make a significant impact in the insurance sector, this role is perfect for you.

Benefits

25 days annual leave

Private medical insurance

Employer's contributory pension of 10%

Fully paid 6 months family leave

On-target bonus

Qualifications

• Proven experience in managing medium-high value claims.
• Strong technical expertise and negotiation skills required.

Responsibilities

• Verify and settle claims in line with company guidelines.
• Build and maintain relationships with clients and brokers.
• Implement claims management strategies supporting company goals.

Skills

Claims Management

Technical Expertise

Negotiation Skills

Analytical Skills

Relationship Management

Operational Management

Microsoft Office

Regulatory Knowledge

Language Skills

Education

ACII

Degree or equivalent

Job description

Company
Great Lakes Insurance SE
Location
London, United Kingdom

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, as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in the UK, Ireland, Switzerland, Italy, and Australia.

Great Lakes Insurance UK Limited (“GLLS”), regulated by the Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.

About the role:

As part of the Claims Team, your role will be responsible for managing claims in adherence with the policy statement, guidelines, and operating standards of the Company, as well as the operational and technical supervision of the Great Lakes claims team.

As a member of the overall Munich Re Claims community, you will actively assist in implementing the Future Global Claims set-up and advance the Munich Re Claims Ambition 2025.

Key Responsibilities:

• Verify and settle claims
• Investigate and negotiate claims as required
• Positively influence the handling and settlement of claims by Primary insurance company clients and on Reinsurance cases
• Check case reserves and ensure adequate provision is made for outstanding liabilities
• Build and maintain relationships with brokers, cedants, and clients
• Conduct client visits, audit, and due diligence where required
• Identify and analyse legal, political, and market developments
• Report those developments and their potential impact on the business to relevant stakeholders
• Provide feedback to underwriters from a claims perspective
• Implement a claims management strategy for your team, which is in line with and supports the Munich Re Global Claims Ambition 2025
• Build and maintain reputation as technical experts and market leaders on claims-related issues
• Provide technical and operational support to the Deputy Claims Manager
• Where the loss affects the Reinsurance arrangement, liaise with Munich Re in line with the contractual claims related issues
• Provide an update to the Deputy Claims Manager on a regular basis of all material developments and assist in the production of the Reports for Claims Management.

Key Skills & Experience:

• Proven experience in both direct and reinsurance business controlling medium – high value claims
• A high level of technical expertise
• Experience of technical referral
• Able to analyse and set reserves
• Able to manage and organise a caseload of work independently
• Can work effectively as a member of a team and provide support to colleagues
• Able to build and maintain professional relationships
• Able to contribute to discussions on strategy and developing issues
• Ability to motivate and direct a team to meet targets
• Proficient knowledge of MR claims guidelines processes and operating standards
• Microsoft Office proficiency
• Experience of operational management
• Knowledge of regulatory requirements
• Language skills

General Duties and Tasks:

• Handle claims in line with set authorities, operating standards, and procedures
• Use the market and internal systems to process claims advices and settlements on a timely basis
• On reinsurance business, support clients in the handling of high value or contentious claims
• On insurance business, investigate and negotiate settlement of claims, liaising with co-insurers and experts and providing direction where appropriate
• Conduct client meetings to discuss and influence the direction of large or contentious cases
• Assess and calculate case reserves
• Attend conferences with Counsel, trials, and mediations as deemed appropriate and successfully communicate the Company’s views and opinions
• Organise and conduct audits and due diligence and report findings. Participate in preparatory or follow-up discussions as required
• Provide underwriters with feedback from a claims perspective to assist in underwriting and pricing of business
• Represent and advance the interests of the Company at market meetings
• Support marketing of the Company through contribution to articles, research, and client events
• Support Wordings Specialist in analysis and revision of wordings
• Cooperate with MR claims colleagues in furthering Claims goals set out in existing and future Claims targets
• Ensure reporting criteria to Munich is in line with the agreement and all cases referred to Munich in line with the Reinsurance Agreement
• Provide reports and feedback for the Deputy Claims Manager on all material developments

Supervisory Duties and Tasks:

• Ensure the team adheres to Company Policy, Group Guidelines, and CSS’s stated operating procedures
• Work with the team to prioritise and allocate resources to meet the operating standards
• Assist Deputy Claims Manager in prioritising and organising strategic and project work. Monitor timescales for delivery
• Look to optimise resources under your control and continually seek ways to streamline and improve efficiencies within your area of responsibility and work with the Claims Management Team as appropriate to initiate possible improvements
• Take case referrals from team members within set authority limits
• Provide input for setting of key team objectives
• Assist in the appraisal process as appropriate
• Make suggestions for staff development and look for development opportunities for staff under your control

Qualifications and Educational Requirements:

• ACII
• Educated to degree level or equivalent

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 employer's 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 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.