Find a job 
Featured Companies 
Featured Universities 
For Companies At a Glance
- Tasks: Coordinate the end-to-end loss fund process and enhance claims processing efficiency.
- Company: Join Canopius, a leading global specialty lines (re)insurer with a positive and inclusive culture.
- Benefits: Enjoy hybrid working, competitive salary, health insurance, and a non-contributory pension.
- Why this job: Be part of a dynamic team driving strategic improvements in the insurance sector.
- Qualifications: Experience in the London Market insurance sector and operational insurance is essential.
- Other info: Flexible working model and commitment to equal employment opportunities.
The predicted salary is between 43200 - 72000 £ per year.
Job Description
The Role
As a Senior Loss Fund Coordinator with a focus on the adoption of FCP (Faster Claims Payment), this pivotal role operates within the UK Operations Function. Your responsibilities include coordinating the end-to-end loss fund process across traditional, Vitesse, and FCP methodologies. You will ensure adherence to policies and procedures while creating a robust control and process framework for legacy, current, and future loss funds. This includes operational tasks and strategic reporting to support validation and reconciliation of Third-Party Administrator (TPA)/Coverholder held loss funds.
This dynamic role requires a proactive working style, a can-do approach, and the ability to contribute strategically through management reporting, ensuring regulatory compliance, and engaging effectively with internal and external stakeholders.
Responsibilities
Key Responsibilities:
- Drive the development, documentation, and successful adoption of FCP across the organization, enhancing claims processing efficiency. Manage the full lifecycle of an FCP loss fund, from initial assessment and setup to downstream reporting to stakeholders.
- Manage the end-to-end loss fund process (legacy, current, and FCP), ensuring compliance with policies and procedures. Identify potential issues and gather full details before resolution.
- Maintain visibility of all loss funds across the claim portfolio and perform ongoing financial reconciliation.
- Act as a referral point for TPA/brokers and external stakeholders regarding loss funds.
- Support liaison activities with internal and external auditors.
- Coordinate and monitor workflows to meet loss fund objectives, such as timely reconciliation and quality output. Deploy corrective actions when performance issues arise and analyze information from TPAs for reconciliation.
- Assist in resolving issues raised by outsource partners.
- Produce regular management reports (monthly/quarterly) with actionable insights for strategic decision-making.
- Ensure compliance with regulatory requirements.
Qualifications
Skills and Experience:
- Experience working in the London Market insurance sector.
- Operational insurance experience is essential.
- Understanding of loss fund processes and procedures.
- Familiarity with Faster Claims Payments (FCP) is advantageous.
- Ability to analyze and interpret data effectively.
- Adaptability to changing requirements.
- Proficiency in Word and Excel.
- Knowledge of Vitesse Loss Fund Management Platform, Subscribe Underwriting System, and DOCOsoft claims system is a plus.
- Familiarity with Xchanging’s processes is an advantage.
Our Benefits
We offer a comprehensive benefits package focusing on overall wellbeing, including hybrid working, a competitive salary, non-contributory pension, discretionary bonus, health and dental insurance, and more.
About Us
Canopius is a global specialty lines (re)insurer and a leading Lloyd’s of London market insurer with offices worldwide. We foster a positive culture that encourages authenticity, diversity, and inclusion. Our new offices in the City of London support a flexible, hybrid working model. We are committed to equal employment opportunities and providing a discrimination-free environment. Reasonable adjustments are available during recruitment and employment.
#J-18808-Ljbffr
Senior Loss Fund Coordinator employer: Starr Underwriting
Contact Detail:
Starr Underwriting Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Loss Fund Coordinator
✨Tip Number 1
Familiarise yourself with the Faster Claims Payment (FCP) process. Understanding how FCP enhances claims processing efficiency will not only help you in interviews but also demonstrate your proactive approach to the role.
✨Tip Number 2
Network within the London Market insurance sector. Attend industry events or join relevant online forums to connect with professionals who can provide insights and potentially refer you to opportunities at StudySmarter.
✨Tip Number 3
Brush up on your data analysis skills. Being able to effectively analyse and interpret data is crucial for this role, so consider taking a short course or using online resources to enhance your proficiency.
✨Tip Number 4
Research our company culture and values. Understanding our commitment to diversity, inclusion, and employee wellbeing will help you align your responses during interviews and show that you're a good fit for our team.
We think you need these skills to ace Senior Loss Fund Coordinator
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in the London Market insurance sector, particularly focusing on operational roles and loss fund processes. Use specific examples that demonstrate your understanding of Faster Claims Payments (FCP) and your ability to manage end-to-end processes.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the Senior Loss Fund Coordinator role. Discuss how your proactive working style and can-do approach align with the responsibilities outlined in the job description. Mention any familiarity with tools like Vitesse and your adaptability to changing requirements.
Highlight Relevant Skills: When detailing your skills, emphasise your proficiency in data analysis and reporting. Mention your experience with financial reconciliation and your ability to engage effectively with both internal and external stakeholders, as these are crucial for the role.
Proofread Your Application: Before submitting your application, carefully proofread your CV and cover letter. Ensure there are no spelling or grammatical errors, and that all information is clear and concise. A polished application reflects your attention to detail, which is vital for this position.
How to prepare for a job interview at Starr Underwriting
✨Understand the FCP Process
Make sure you have a solid grasp of the Faster Claims Payment (FCP) process. Be prepared to discuss how it enhances claims processing efficiency and share any relevant experiences you've had with similar methodologies.
✨Showcase Your Operational Experience
Highlight your operational insurance experience, especially within the London Market. Be ready to provide examples of how you've managed loss fund processes and ensured compliance with policies and procedures.
✨Demonstrate Analytical Skills
Prepare to discuss how you analyse and interpret data effectively. Bring examples of past situations where your analytical skills led to successful outcomes, particularly in financial reconciliation or reporting.
✨Engage with Stakeholders
Since this role involves liaising with internal and external stakeholders, think of ways you've successfully engaged with different parties in previous roles. Be ready to share specific instances where your communication skills made a difference.
