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About the Role

This role is important in our growing Specialty, Property & Casualty London Market portfolio, responsible for handling claims in a diverse and complex portfolio. The individual will provide a quality claims service, paying valid claims promptly and setting reserves in line with our philosophy, while also leading continuous improvements in the reserving and settlement process.

Responsibilities

• Manage and adjust inwards claims within your portfolio, including investigation, assessment, reserving, expense/vendor management, and settlement according to guidelines.
• Formulate strategy for high exposure, litigated, coverage, and complex claims to ensure optimal outcomes and timely escalation.
• Ensure the accuracy of financials for claims within your responsibility.
• Identify, report on, and present key claim issues, large or complex claims, claim trends, and product improvement recommendations.
• Ensure relevant records are made and kept in accordance with Claims guidelines and best practices.
• Collaborate and develop strong business relationships with internal and external partners to strengthen the business.
• Manage and provide assistance with delegation and/or International Distribution Companies as needed.
• Model and promote a culture of positivity, inclusion, and continuous improvement.
• Mentor and develop colleagues, ensuring opportunities for progression.
• Assist in the handling of complaints and any other regulatory matters.

Requirements

• University Degree and/or relevant professional qualification.
• Claims handling experience in a relevant field, preferably Casualty.
• ACII qualification or progressing towards ACII qualification or relevant experience.
• Proven claims handling experience within the applicable business classes.
• Sound business knowledge and understanding of underlying principles of insurance practice, generic legal principles, FCA rules and regulations, and Lloyd's regulations.
• Clear understanding of all company-specific procedures related to own role.
• Clear understanding of colleagues' roles and their relationships to the organization's structure and business plans.
• Willingness to continue to develop knowledge through formal and informal learning.
• Identify potential risks facing the business and the controls in place to mitigate them, reporting significant changes to line manager.
• Good knowledge and understanding of claims within authority level.

Skills

• Claims handling
• Investigation
• Assessment
• Reserving
• Expense/Vendor Management
• Settlement
• Strategy formulation
• Financial accuracy
• Reporting
• Presentation
• Record keeping
• Collaboration
• Business relationship development
• Delegation management
• Mentoring
• Complaint handling
• Regulatory compliance

Location

• London Market

Work Type

• Full-time

Experience Level

• Senior

Education Level

• University Degree
• Professional qualification
• ACII qualification

About the Company

• At Munich Re Specialty – Global Markets (MRS-GM), our ambition is to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment.
• We foster a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.
• Our approach to ESG is underpinned by our desire to seize business opportunities and nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social, and governance topics, including supporting local initiatives and offering volunteering opportunities.

Equal Opportunity

• At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are.
• We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs.
• Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
• All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.