Senior Claims Handler, Professional Lines
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.
IQUW’s Professional Lines Division underwrites directors’ and officers’ liability insurance for public companies and various coverages for private and public financial institutions, including professional indemnity, D&O, and crime. These are classes of business which IQUW seeks to lead policies at primary and low excess attachments. The Senior Claims Handler will be responsible for the day-to-day management of claims assigned to her or him, both on a lead and follow basis. The Senior Claims Handler will also be expected to provide some claims support to the Specialty Division, which includes Cyber, Crisis Management, Political Risk, Political Violence, Terrorism and War. IQUW expects the candidate to provide a high standard of service within a designated authority and in accordance with internal guidelines, market practices and relevant legal requirements.
The ideal candidate will already have strong and demonstratable experience and technical competence within the Lloyd’s and/or London Market, handling direct or reinsurance claims. Such experience should include claims-file management skills together with excellent working knowledge of market systems and processes. IQUW’s Claims Team further emphasises outstanding levels of customer service (both to internal and external stakeholders) along with the ability to add value through contributing to the dynamics of the claims department.
- Demonstrate and champion an inclusive culture that reinforces IQUW’s brand, values and behaviours;
- Adjust, assess and manage assigned claims within a defined authority;
- Ensure coverage is accurately reviewed and that reserving is correctly set and maintained throughout a claim’s life cycle;
- Ensure that claims are always handled proactively and in accordance with IQUW’s Claims Management Guidelines;
- Define file strategies and negotiate settlements in accordance with policy terms and conditions;
- Ensure compliance with applicable Lloyd’s standards and all regulatory and statutory requirements relating to claims handling at all times;
- Manage large and/or complex claims with attention to escalating correctly and referring appropriately where support or guidance is needed or required;
- Report on large losses expediently, both internally and to defined external stakeholders, including reinsurers;
- Attend market claims meetings, as required;
- Represent IQUW’s values when liaising with and working with brokers, policyholders, service providers and other external stakeholders;
- Support and collaborate closely with Professional Lines Underwriters, including attendance at regular team meetings, provision of claims-related information, support with policy wordings and endorsements, and attendance at pre-inception/renewal/claims review meetings, as required;
- Provide assistance to and collaborate with pricing and reserving actuaries, management information team, outwards reinsurance team, finance, and other internal stakeholders;
- Travel domestically or internationally, as required;
- Assist with reviews of vendor panels;
- Assist with claims audits and service-provider audits;
- Assist with legal and/or claims studies and presentations both internally and externally;
- Support the Head of Claims by contributing to the claims strategies and the underpinning of infrastructure to meet the needs of IQUW, in line with growth plans;
- Engage in mentoring and coaching of more junior team members, including referral support;
- Champion IQUW in the market and the Claims function internally through fulfilling the expectations of the role at a high standard;
- Follow processes to achieve claims standards relative to IQUW’s underwriting portfolios, agreed strategies and requirements, and regulatory commitments;
- Commit to a continuous improvement, training and development of technical knowledge; and
- Work effectively with peers in shared functions within IQUW to provide seamless delivery of the company’s objectives.
The above duties and responsibilities are not an exhaustive list, and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.
Essential Qualifications, Skills and Experience
- Strong academic background, including legal qualification, ACII completion or suitable alternatives for the particular role;
- Relevant experience in commercial / specialty insurance within the Lloyd’s and/or London Market;
- Experience with or understanding of reinsurance;
- Strong track record of managing lawyers, loss adjusters and other significant third-party service providers in relevant markets;
- Experience in large loss management;
- Awareness of regulatory requirements around claims management in the London insurance/reinsurance market, including delegated authorities;
- Strong knowledge of key business systems and processes within the Lloyd’s Market;
- Strong knowledge of the UK and US legal systems, with experience in US claims handling preferred;
- Experience in market meetings with insurers/reinsurers and service providers, and confidence in client and broker engagement;
- Exhibit an established peer network with brokers, other insurers and service providers;
- Ability to develop and maintain relationships with both internal and external customers;
- Ability to prioritise and organise workload and meet deadlines; and
- Skilled problem-solving and acting on one’s own initiative.
Desirable Behavioural Attributes
- Exhibits strong written and oral communication skills;
- Focuses on performance and driving results;
- Builds strong relationships and leverages them to achieve outcomes;
- Owns decisions and uses commercial awareness to reach them;
- Thinks strategically and holistically with a service-oriented mentality toward the role; and
- Leads by example, exhibits a positive attitude and champions the company culture.