Financial Lines Claims Manager in London

To monitor and oversee the work and services provided by MGAs’ in-house claims departments and claims TPAs on delegated authority programs within the UK, Europe and US. The Claims Manager’s functions include:

• Ensuring that service providers adhere to the Claims Handling Agreements’ terms and conditions and agreed service standards.
• Handling or monitoring the referral of large claims outside of delegated authorities.
• Ensuring appropriate information/documentation is available and internal claims records maintained.
• Advising and updating reinsurers and management where appropriate.
• Managing internal and external relationships.
• Undertaking due diligence on new opportunities.

Key Responsibilities

• Handle in an accurate and timely manner the referral of large and complex claims and claims falling within the referral criteria of each program; subsequently monitoring these referred claims in closer detail.
• Report new claims and large loss movements to interested parties/reinsurers and management as required.
• Maintain the flow of information with the actuarial team to ensure all necessary detail is provided to assist with the establishment of claim specific IBNRs at quarter end.
• Oversee monthly analysis of claims performance of live programs with delegated authority and TPAs against expectations to ensure results are in line with forecasts.
• Undertake claims due diligence reviews on new opportunities, which will include UK and overseas travel as required.
• Follow up and resolve MGAs claims audits findings and actions with MGAs/TPAs, providing feedback to AIEL’s audit team.
• Assist the complaints team with claim related complaints.
• Build and maintain relationships with external parties as applicable to each case.
• Review where required claims TPA’s contracts with external suppliers to ensure best rates and terms are in place.
• Oversee projects as required.
• Complete duties as assigned.
• Maintain compliance with any applicable UK or International statutory or regulatory obligation as required by the role.

This includes but is not limited to obligations arising from:

• The prudent management of the business.
• Placing due regard on the interests of customers.
• Observing rules on Sanctions and financial crime.
• Regulatory requirements and local licensing restrictions.
• Promoting and following the Group’s whistleblowing procedures.
• Where applicable, following the Company’s Consumer Duty principles to deliver good outcomes for retail customers.

Skills, Knowledge and Expertise

• Strong technical knowledge and experience of claims.
• Good communication and negotiation skills.
• Good analytical and problem-solving skills.
• Ability to multi-task and work in an environment with changing priorities.
• Good written reporting skills.
• Knowledge of IT systems.
• Ability to work to strict deadlines.
• Ability to influence others.
• 10+ years’ claims experience in various classes of Financial Lines insurance claims is essential.
• Exposure to claims in several European jurisdictions is an advantage.
• Proficient in office products including Word, Excel and PowerPoint.
• Experience of delegated authorities/program management is advantageous.
• Fluent in Italian or other European languages is advantageous.
• Legal or CII Qualified is advantageous.