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Date: Sep 11, 2024
Company: Aspen Insurance
Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.
We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.
Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.
The work pattern for the job is Hybrid.
The Role:
Are you a claims professional seeking new challenges and opportunities to excel in the world of professional liability? Welcome to Aspen, a leading specialty insurance and reinsurance company.
At Aspen, we take pride in our diverse expertise, including handling complex professional liability claims. As a Technical Lead, you will be at the forefront of evaluating and processing claims with precision and accuracy. Your keen insights will drive continuous improvement and innovation in this specialized area. This position entails overseeing a diverse range of professional liability claims, encompassing broker-dealer, life agent, insurance agent, and other financial and professional lines claims.
With 8-10 years of experience in claims handling, a JD qualification, and a track record in navigating the intricacies of professional liability, you're an ideal candidate to join our dynamic team. Together, we'll shape the future of claims management in the professional liability sector.
Key accountabilities:
- Contributes to, monitors and advises on the plan developments and changes in order to ensure relevancy, compliance and optimal delivery.
- Assists in the preparation and implementation of the operational team plans to ensure these are in line with wider business strategy and reflect key priorities.
- Determines own work priorities and activities in line with agreed plans to ensure the achievement of the function’s objectives.
- Support the implementation of the Claims strategy to enable delivery of overall business targets.
- Investigate and resolve complex Claims of a specialist nature in a professional manner in order to provide excellent Claims handling service with minimal leakage.
- Report production and circulation including input, updating, review and interrogation of claims data.
- Proactively manage estimates and billings calculated by clients and brokers resolving any discrepancies in a timely manner.
- Identify and investigate coverage issues so as to ensure that the company’s liability is in line with its contractual commitments and to communicate with relevant stakeholders.
- Identify subrogation, contribution and other recovery issues and ensure that these are successfully pursued where appropriate.
- Manage disputed Claims and other material Claims issues in order to resolve and settle claims on an economic basis.
- Ensure Claims files are compiled and maintained in a logical and accessible manner and that coverage and/or other Claims issues are clearly documented at all times.
- Ensure awareness of and compliance with regulatory and legislative requirements.
- Support the development of relationships with internal and external customers to enable the Claims function to fully support their needs.
- Support the development of relationships with the Underwriters to enable the Claims function to support the needs of other areas within the business.
- Ensure that Claims billings and advices are responded to within agreed timeframes to provide a professional service to brokers, and clients.
- Ensure that base premiums have been received before making Claim payments.
- Where appropriate, ensure reinstatement premiums have been correctly calculated when making Claim payments.
- Respond to internal and external stakeholder requests in accordance with service standards.
- Support the Senior Claims Team in the production of Management Information reports.
- Produce regular statistical and analytical Claims information to Portfolio and Risk Managers and Senior Management to enable effective monitoring of Claims.
- Develop/maintain sufficient knowledge of Claims portfolio, so as to ensure delivery of accurate information to Underwriters and management when requested.
- Ensure accurate and timely update of the company’s systems as and when required.
- Act as a referral point to other members of the Claims team on specific tasks or in the absence of Assistant Claims Manager or Team Leader.
- Acts as a point of reference to guide and advise others to ensure the sharing of knowledge and best practice.
- Supports others in the team where appropriate to assist in the achievement of their objectives.
- Liaise and negotiate with clients, brokers, loss adjusters and lawyers in the adjustment and settlement of claims, including UK & Overseas travel where necessary.
Skills & experience:
- 8-10 years of experience as a claims handler, preferably with a background in attorney work.
- JD Required.
- Significant experience overseeing a diverse range of professional liability, including lawyers, accountants, insurance agents, and/or architects & engineers.
- Extensive and relevant knowledge of technical claims handling in a group claims function, operating in a highly regulated environment.
- Familiarity with policy drafting, state laws, and regulations.
- Extensive experience of technical claims management supporting multiple lines of business / claims across geographies and industries with differing regulatory and legislative standards.
- Strong understanding of delegated and third-party claims management from a technical, commercial, and operational perspective.
- Able to navigate and assimilate complex technical data applications and sources strong investigative skills.
- Negotiation, influencing, and collaboration skills.
- Attention to detail with a track record of delivering service excellence via detailed and technical processes.
- Strong interpersonal and communication skills.
- Good organizational skills.
- Able to work independently.
- Proficient in MS Office applications; Word, Excel and PowerPoint.
- Able to manage conflicting priorities to achieve deadlines.
- Ability to plan effectively and efficiently.
- Ability to collaborate effectively within a team environment.
- Deep experience and a proven track record of working in a Claims environment within a specialized/complex Claims area.
- Recognized qualification(s) and/or good practical knowledge of the insurance regulatory framework.
- Strong commercial experience of the general insurance industry and claims trends to be able to provide expert advice and opinion where required.
At Aspen we know that having a diverse and inclusive workforce is good for our people, good for our business and good for the environments in which we operate. We therefore welcome applications from people which allows us to draw on diverse cultures, perspectives, skills and experiences.
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