Senior Loss Fund Coordinator

Starr Underwriting; London; Hybrid; GBP 50,000 - 80,000; Full time

Job summary

A leading insurance company is seeking a Senior Loss Fund Coordinator to enhance claims processing efficiency within their UK Operations Function. The role includes managing the full lifecycle of loss funds, ensuring compliance, and producing strategic reports for stakeholders, all within a flexible hybrid working environment.

Benefits

Hybrid working

Competitive salary

Non-contributory pension

Discretionary bonus

Health and dental insurance

Qualifications

• Experience in the London Market insurance sector.
• Operational insurance experience is essential.
• Understanding of loss fund processes and procedures.

Responsibilities

• Manage the end-to-end loss fund process, ensuring compliance.
• Drive development and adoption of FCP across the organization.
• Produce regular management reports for strategic decision-making.

Skills

Analytical Skills

Adaptability

Communication

Tools

Word

Excel

Vitesse Loss Fund Management Platform

Subscribe Underwriting System

DOCOsoft claims system

Job description

Job Description

The Role

As a Senior Loss Fund Coordinator with a focus on the adoption of FCP (Faster Claims Payment), this pivotal role operates within the UK Operations Function. Your responsibilities include coordinating the end-to-end loss fund process across traditional, Vitesse, and FCP methodologies. You will ensure adherence to policies and procedures while creating a robust control and process framework for legacy, current, and future loss funds. This includes operational tasks and strategic reporting to support validation and reconciliation of Third-Party Administrator (TPA)/Coverholder held loss funds.

This dynamic role requires a proactive working style, a can-do approach, and the ability to contribute strategically through management reporting, ensuring regulatory compliance, and engaging effectively with internal and external stakeholders.

Responsibilities

Key Responsibilities:

• Drive the development, documentation, and successful adoption of FCP across the organization, enhancing claims processing efficiency. Manage the full lifecycle of an FCP loss fund, from initial assessment and setup to downstream reporting to stakeholders.
• Manage the end-to-end loss fund process (legacy, current, and FCP), ensuring compliance with policies and procedures. Identify potential issues and gather full details before resolution.
• Maintain visibility of all loss funds across the claim portfolio and perform ongoing financial reconciliation.
• Act as a referral point for TPA/brokers and external stakeholders regarding loss funds.
• Support liaison activities with internal and external auditors.
• Coordinate and monitor workflows to meet loss fund objectives, such as timely reconciliation and quality output. Deploy corrective actions when performance issues arise and analyze information from TPAs for reconciliation.
• Assist in resolving issues raised by outsource partners.
• Produce regular management reports (monthly/quarterly) with actionable insights for strategic decision-making.
• Ensure compliance with regulatory requirements.

Qualifications

Skills and Experience:

• Experience working in the London Market insurance sector.
• Operational insurance experience is essential.
• Understanding of loss fund processes and procedures.
• Familiarity with Faster Claims Payments (FCP) is advantageous.
• Ability to analyze and interpret data effectively.
• Adaptability to changing requirements.
• Proficiency in Word and Excel.
• Knowledge of Vitesse Loss Fund Management Platform, Subscribe Underwriting System, and DOCOsoft claims system is a plus.
• Familiarity with Xchanging’s processes is an advantage.

Our Benefits

We offer a comprehensive benefits package focusing on overall wellbeing, including hybrid working, a competitive salary, non-contributory pension, discretionary bonus, health and dental insurance, and more.

About Us

Canopius is a global specialty lines (re)insurer and a leading Lloyd’s of London market insurer with offices worldwide. We foster a positive culture that encourages authenticity, diversity, and inclusion. Our new offices in the City of London support a flexible, hybrid working model. We are committed to equal employment opportunities and providing a discrimination-free environment. Reasonable adjustments are available during recruitment and employment.