Job Title: Claims Manager
Division: Group Claims
Reports To: As per Beazley's organisation chart
Key Relationships: Claims staff, underwriters, insureds, brokers and service providers
Job Summary: To help achieve the Beazley vision of being the highest performing specialist insurer through the proactive management of claims at the individual and portfolio level, ensuring high levels of satisfaction for the insured and broker through quality claim management and excellent client service.
Individual Claims Leadership
- Manage individual claims on a proactive basis from notification to closure, investing the necessary level of involvement required for each claim depending on the nature, category, maturity, type, and quantum of the claim.
- Adhere at all times to Beazley's Claims Reserving Philosophy and Standards.
- Develop, iterate, document, and execute claims strategies considering uncertainties, key decisions, potential outcomes, and estimated associated costs.
- Understand and implement Beazley's Conduct Risk Policy.
Claims Portfolio Management
- Manage a claims portfolio to optimise performance, including regular reviews of individual claims within the portfolio and maintaining reserves and claims records as required by Beazley's claims controls and standards.
- Identify issues and trends in the portfolio, consult management/peers if required, and take appropriate and/or corrective action.
- Communicate any material claims to Reinsurance and Finance as set out by the applicable claims authority, claims protocols, and procedures.
- Work with Reinsurance to effect claims recoveries.
Working with Underwriters
- Develop an understanding of marketing and underwriting strategies for the respective business area.
- Contribute to business development and renewal opportunities through attending client meetings to provide inputs regarding the Beazley claims philosophy and claims handling approach.
- Provide input to underwriters on review of potential or existing insured's claims experience.
- Identify claims trends and developments and communicate their potential impact on the book.
- Identify wordings issues and suggest policy wording improvements.
Authority & Minimum Standards Observance
- Operate within approved claims authorities at all times.
- Maintain a thorough knowledge of industry regulations and minimum standards.
- Ensure compliance with the regulations and Beazley's claims control standards and protocols.
Third Party Management
- Adhere to Beazley's procedures for the selection and retention of third-party professionals and manage relationships to the benefit of Beazley.
- Hold overall ownership and accountability for delegated relationships as needed including appropriately managing escalation of items from delegated partners.
- Review TPA performance data consistency with claims service requirements, claims best practices, and financial goals on a periodic basis.
- Conduct file reviews or audits as required, and resolve any issues identified.
- Provide feedback on a regular and proactive basis regarding the claim actions undertaken by the Third-Party Administrator (TPA).
- Propose strategies for future claims handling, review case reserve adequacy, and ensure the TPA remains focused on claim finalisation.
Broker and Insured Relations
- Work proactively to develop and manage strong relations with key brokers and insureds.
- Promote the Beazley brand of excellence and professionalism in client service.
Operational
- Ensure the management of claims conforms to the agreed standardised processes and use of shared service functions as appropriate.
- Contribute to the commitment to, and active development of a continuous improvement culture within the overall claims function.
- Support the Claims Business Management Team and Claims Solutions Team to identify and implement business performance improvement opportunities.
Development and Mentoring of Junior Staff
- Assist claims management and peers to develop, mentor and empower junior staff.
- Ensure junior staff in the business unit have the knowledge and skills necessary to perform effectively in their given roles and responsibilities and increase their versatility for the broader Beazley business.
- Serve as a positive role model for junior staff.
Conflicts of Interest
- Adhere to Beazley's Conflicts of Interest policy, alert the appropriate person to any potential conflicts of interest, and take steps to resolve them promptly.
- Immediately advise your Head of or Group Head of Claims if any Beazley employee seeks to exert undue influence on you or any other team member to act improperly in the management, reserving, or settlement of any claim.
General
- Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
- Develop best practice and disseminate business and class knowledge within the Environmental, PEMA and Specialty Risks teams.
- Work with peers within Environmental, PEMA and Specialty Risks to maximise business opportunities and profitability within the department.
- Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability across the Group.
- Production of presentations and marketing literature as required.
- Production of business plans/research documents for the Environmental account as required.
It is important that within all your interactions both internally and externally you adhere to Beazley's core values - Being Bold, Striving for Better, and Doing the Right Thing - as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
Education and Qualifications
- Graduate Calibre
- Adjuster license(s) may be required as part of your job responsibilities. If required, those licenses must be obtained within the first 90 days of your employment and in accordance with an individual licensing plan established by Beazley Compliance and your Manager.
Skills and Abilities
- Analytical skills: Problem solving, Analysis of financial statements, Financial assessments of claims, Data analysis, Decision-making
- Work management skills: Time and workload management, Self-starter, Planning, Achievement orientation, Productivity focus
- Interpersonal skills: Ability to influence others, Client and broker management skills, Purposeful communication, Flexibility, Active listening
Knowledge and Experience
- Legal training or past claims experience establishing liability and/or settlement resolutions.
- Functional knowledge & understanding: Claims management process, US/RoW Insurance market, US/RoW legal and regulatory environment, Alternative resolution approaches
Aptitude and Disposition
- Outcome focussed, self-motivated, flexible and enthusiastic
- Professional approach to successfully interact with senior management, colleagues, and external suppliers
- Diplomatic
Competencies
- Problem-solving
- Decisiveness
- Customer-focused
- Influencing others
- Attention to detail
- Teamwork
- Self-starter
- Analytical thinking
- Managing resources effectively
- Technical competency and expertise
Salary for this role will be tailored to the successful individual's location and experience. The expected compensation range for this position is 145k - 160k per year plus discretionary annual bonus. You will be able to discuss your salary expectations should you be contacted about this role.
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