Senior Claims Specialist - Complex Team

Munich Reinsurance America, Inc; Chicago (IL); On-site; USD 138,000 - 212,000; Full time

Benefits offered by this job

Health insurance

401k match

Paid holidays

Paid time off

Wellness program

Life and disability insurance

Retirement savings plan

Tuition assistance

Corporate matching gifts

Volunteer time off

Job summary

Munich Re Specialty - North America seeks a Senior Claims Specialist to manage complex, high-exposure casualty and specialty claims across in-house and third-party administered portfolios. You will collaborate with counsel, experts, vendors, and teams to drive optimal outcomes and determine coverage, investigations, and recoveries.

You will bring a bachelor’s degree (law degree preferred), 10+ years’ experience, strong analytical, negotiation, and communication skills, and a willingness to

Qualifications

• Bachelor's degree required.
• Law degree preferred.
• 10 years plus experience in handling high exposure casualty and/or specialty claims, or relevant legal experience.
• Understanding of technical claims proficiency and execution of best claim practices.
• Ability to work independently, multi-task, and remain self-motivated in a fast-paced environment.
• Strong organizational skills and time management of claims desk.
• Strong business acumen and ability to collaborate with other departments and vendors.
• Customer-service and relationship oriented.
• Innovative, dynamic and growth mindset.
• Good verbal and writing skills for internal and external communication, presentations and reporting.
• Good analytical thinking, advocacy and negotiation skills.
• Willingness to travel for mediations, settlement conferences, and client or account meetings (~10% - 15% of time).
• Maintain valid adjusters' license(s) in states assigned or an ability to obtain same.

Responsibilities

• Thoroughly investigate and assess claims for coverage, and damages, and pursuit of recoveries and subrogation/contribution opportunities.
• Exercise thoughtful curiosity.
• Demonstrate in-depth understanding of coverage issues, policy forms, contracts, regulatory requirements, and changing legal landscape for casualty and specialty line claims.
• Proactively and promptly manage claims, considering all aspects with a strategic vision for optimal claim outcome.
• Continually evaluate claims to set appropriate, timely reserves over the life of the claim to reflect changes in exposure.
• Demonstrate strong technical proficiency through consistent execution of best claim practices.
• Strategically coordinate with and manage outside counsel and vendors to obtain optimal claims outcomes.
• Present high exposure claims to Claims Leadership and key stakeholders.
• Collaborate with internal and external business partners for client meetings, product development and improvement, and account audits.
• Look for ways to improve claim efficiencies and outcomes (innovative mindset).

Skills

Strong analytical thinking

Negotiation skills

Communication skills

Organization/time management

Independent/self-motivated

Collaboration with departments

Willingness to travel

Strategic decision-making

Problem solving

Client/partner communication

Education

Bachelor's degree

Law degree preferred

Job description

All locations Princeton, United States; Atlanta, United States; Chicago, United States; Hartford, United States; Philadelphia, United States;

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America.

The Opportunity

Future focused and always one step ahead!

At MRSNA, the Complex Team manages sophisticated, high-exposure claims in partnership with highly experienced internal and external partners. The Senior Claims Specialist role is designed for professionals who are energized by intellectual challenges, strategic decision-making, and continuous development.

As a Senior Claims Specialist on the Complex Team, you will be responsible for directing all aspects of both in-house and third-party administered claims. You will strategically collaborate with counsel, experts, preferred vendors, and your colleagues, to drive optimal claims outcomes. You will analyze and determine coverage, manage the claim investigation, evaluate the overall claim, communicate promptly with internal and external stakeholders, and pursue recoveries and risk transfer where warranted in a variety of casualty and specialty line claims at the primary, excess, and reinsurance layers. Specialty lines of products include general liability, transportation, professional liability (LPL, MPL, EPL, D&O), healthcare (long-term care, allied health, life sciences, hospital malpractice). This is an opportunity take the next step in your career as you will develop deeper expertise across multiple specialty and casualty lines.

Key Responsibilities

• Thoroughly investigate and assess claims for coverage, and damages, and pursuit of recoveries and subrogation/contribution opportunities.
• Exercise thoughtful curiosity.
• Demonstrate in-depth understanding of coverage issues, policy forms, contracts, regulatory requirements, and changing legal landscape for casualty and specialty line claims.
• Proactively and promptly manage claims, considering all aspects with a strategic vision for optimal claim outcome.
• Continually evaluate claims to set appropriate, timely reserves over the life of the claim to reflect changes in exposure.
• Demonstrate strong technical proficiency through consistent execution of best claim practices.
• Strategically coordinate with and manage outside counsel and vendors to obtain optimal claims outcomes.
• Present high exposure claims to Claims Leadership and key stakeholders.
• Collaborate with internal and external business partners for client meetings, product development and improvement, and account audits.
• Look for ways to improve claim efficiencies and outcomes (innovative mindset).

Qualifications

• Bachelor's degree required.
• Law degree preferred.
• 10 years plus experience in handling high exposure casualty and/or specialty claims, or relevant legal experience. Detail-oriented, adaptable, and strategic in decision-making.
• Understanding of technical claims proficiency and execution of best claim practices.
• Ability to work independently, multi-task, and remain self-motivated in a fast-paced environment.
• Strong organizational skills and time management of claims desk.
• Strong business acumen and ability to collaborate with other departments and vendors.
• Customer-service and relationship oriented.
• Innovative, dynamic and growth mindset.
• Good verbal and writing skills for internal and external communication, presentations and reporting.
• Good analytical thinking, advocacy and negotiation skills.
• Willingness to travel for mediations, settlement conferences, and client or account meetings (~10% - 15% of time).
• Maintain valid adjusters' license(s) in states assigned or an ability to obtain same.

The Company is open to considering candidates in various locations, including: Philadelphia (PA), Chicago (IL), Hartford (CT), Atlanta (GA), and Princeton (NJ). The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.

The base salary range anticipated for this position is $138,400 - $212,100, plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate is adjusted to reflect the varying market conditions across different locations, with the higher end being more aligned with the Princeton (NJ) job market. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

• Two options for your health insurance plan (PPO or High Deductible).
• Prescription drug coverage (included in your health insurance plan).
• Vision and dental insurance plans.
• Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
• Short and Long Term Disability coverage.
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

• A robust 401k plan with up to a 5% employer match
• A retirement savings plan that is 100% company funded.
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
• Eligibility to receive a yearly bonus as a Munich Re employee.
• A variety of health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program that further enhances your charitable donation.
• Paid time off to volunteer in your community.

At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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