Temporary - Manager - Delegated Authority and Complex Claims

Ki Insurance; London; On-site; GBP 40,000 - 60,000; Full time

Job description

Job Details: Temporary - Manager - Delegated Authority and Complex Claims

Vacancy Name: Temporary - Manager - Delegated Authority and Complex Claims

Employment Type: Temporary Worker

Location: London

Role Details:

Purpose of the Job:
Primarily responsible for the strategic development of BGS’s relationship management and oversight of BGS’s global delegated Claims authority relationships. Through remote and on-site technical Claims reviews, will lead efforts to track and improve performance to ensure Coverholders and Third Party Administrators (collectively known as Delegated Claims Administrators (DCAs)) operate effectively in providing exceptional standards of Claims performance and service that accord with BGS Claims Philosophy and Lloyd’s Minimum standards. This role allows for flexibility to take on special initiatives in a variety of areas on both tactical and strategic levels.

Key Responsibilities:

1. Implement a strategic plan for the effective management of DCAs and ensure they perform in line with BGS’ Claims Philosophy and Guidelines.
2. Regularly monitor and evidence DCA performance and report findings back to Claims Management Team.
3. Determine actions needed by DCAs to improve and/or maintain performance and oversee the resolution of those actions.
4. Engage, where necessary and required, at Claim/”on the ground” level e.g. DCA trouble shooting, mediation attendance, client visits etc.
5. Provide Complex Claims Support to the London Claims team as and when required.
6. Manage and implement any special projects as required with respect to DCAs and service providers.

Principal Accountabilities:

1. Managing and overseeing all aspects of BGS’ delegation of Claims authority to DCAs save for technical referral of regular Claims above authority which falls to the relevant Class of Business Claims teams.
2. Acting as the relationship manager and key point of contact for all DCAs.
3. Signing off on the delegation of authority and level of financial authority granted and documenting the rationale.
4. Oversee the Annual Audit Plan for DCAs.
5. Ensuring Claims due diligence is kept up to date on an annual basis.
6. Agreeing and updating Service Level Agreements and ensuring these are in place for all DCAs.
7. Review loss fund adequacy and managing recovery of loss funds on prior years in conjunction with Claims Ops.
8. Perform audits on DCAs on behalf of BGS ensuring contractual service expectations including reporting, reserving and resolution strategies are in line with Brit’s claim handling philosophy.
9. Responsible for auditing, tracking/trending audit results, and development and delivery of training to correct deficiencies.
10. Work with Management Team to identify leakage and communicate issues.
11. Work with DCAs to identify and maximise subrogation/recovery.
12. Contribute to methods to recognise and prevent fraud and the ability to create solutions to alleviate.
13. Review third-party Claims adjusters Loss Adjustment Expense (LAE).
14. Administer quality evaluations on performance and provides recommendations for improvement.
15. Prepare reports and deliver presentations identifying trends and areas of opportunity for performance improvement or Claims consolidations.
16. Develop procedures and policies to enhance and improve the processing, investigation and settlement of Claims by DCAs.
17. Leverage data and analytics to improve business results by identifying opportunities for continuous process improvement and measurement of effectiveness of cost reduction initiatives.
18. Identify issues and trends in the DCA portfolio and take appropriate and/or corrective action where necessary.
19. Coordinate with DCA on current and proposed policy language, especially on terms identified as a result of Claims reported and issues identified.
20. Proactively establish relationships with Coverholders that use DCA in order to maximize the competitive advantage derived from the Claims operation.
21. Work with DCA to design, recruit, build, develop, motivate and manage a growing team of high performing Claims professionals.
22. Keep up on the latest industry and consumer trends by attending conferences, reviewing professional publications, Internet research, establishing personal networks, and/or participating in professional societies.
23. Engage with the In-House Legal Team, in the continued development and implementation of a structured programme for the proactive management.

Decision Making Responsibilities:

1. Make judgements and tailor existing practices to new and emerging situations.
2. Make effective decisions when dealing with complex technical Claims scenarios.
3. Recommend improvements to the DCA processes and procedures.
4. Appoint approved independent experts as appropriate.
5. Attend mediations etc. and negotiate best terms up to pre-agreed authority.

Regulatory Conduct Rules:

1. Act with integrity.
2. Act with due skill, care and diligence.
3. Be open and co-operative with Lloyd’s, the FCA, the PRA, and other regulators.
4. Pay due regard to the interests of customers and treat them fairly.
5. Observe proper standards of market conduct.

Education, Qualifications, Knowledge, Skills and Experience:

1. ACII qualified, or a willingness to undertake continued personal and professional development.
2. In-depth insurance industry knowledge and experience with specific emphasis on handling complex Claims and DCAs.
3. Ability to find practical solutions to problems.
4. Ability to adapt to changing demands and to learn and develop new skills and areas of expertise.
5. Flexibility to travel as necessary.
6. Knowledge of the basic principles of risk management.
7. Knowledge of the legal principles giving rise to subrogation and ability to develop methods to ensure successful recovery.
8. Advanced literacy and numeric skills.
9. Advanced communication and interpersonal skills.
10. Advanced negotiation, persuasion and influencing skills.
11. In depth experience of managing and settling a range of Claims.
12. Solid Claims adjusting experience gained within the Insurance industry.
13. Experience of establishing and maintaining effective working relationships.
14. A commitment to continuous personal and professional development.
15. Effective prioritisation and organisational skills in order to meet timescales.
16. Advanced IT skills, including Microsoft Office with the ability to learn new systems.