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For Companies At a Glance
- Tasks: Lead and manage the third-party claims journey, ensuring compliance and driving innovation.
- Company: Join IQUW, a leading specialty (re)insurer at Lloyd's with a focus on motor insurance.
- Benefits: Competitive salary, career development opportunities, and a dynamic work environment.
- Why this job: Make a real impact in the insurance industry while driving digital transformation.
- Qualifications: Extensive experience in motor claims management and strong analytical skills required.
- Other info: Collaborative culture with opportunities for personal growth and leadership development.
The predicted salary is between 48000 - 72000 £ per year.
Overview
Grade: 2
Reporting to: Head of Claims, ERS
Location: London
About us
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. ERS is the UK's largest specialist motor insurer with an A+ rating.
The role
The Head of Third Party Claims is responsible for leading, developing, and managing the end-to-end third-party claims journey. This includes strategic oversight of operational performance, technical excellence, and service delivery across all third-party claims functions, from Agriculture to Prestige vehicles.
Key responsibilities include:
- Ensuring fair customer outcomes and compliance with internal policies, legal standards, and regulatory requirements.
- Driving cost control throughout the claims lifecycle across all elements of Third Party claims spend.
- Identifying and developing commercial opportunities through market, legal, and technical insight.
- Owning and influencing key elements of the third-party claims supply chain costs.
- Driving claims digitalisation and automation initiatives.
This role sits within a market-leading central technical function focused on customer outcomes, indemnity control and case reserving adequacy. It requires the ability to develop and implement strategy based on detailed financial analysis, with a focus on performance improvement and proactive management of risks, threats, and opportunities related to claims leakage.
Key responsibilities
- Develop and deliver the strategic vision for third party motor claims to align with the overall claims strategy.
- Drive innovation using data analytics, technology and process optimisation.
- Oversee and support the effective management of complex and high value claims and processes with technical, regulatory or financial implications.
- Build influential relationships with external partners including repair networks, solicitors, the General Terms of Agreement (GTA) committee, Credit Hire Organisation's (CHO's) and third party insurers.
- Monitor management information, analyse and manage performance.
- Manage claims budgets, expense ratios and indemnity spend to ensure financial targets are met.
- Engage, lead and coach the third-party claims management team to achieve operational excellence and seek opportunity for continuous improvement.
- Ensure effective management of case reserving in accordance with the company's published reserving policy.
- Collaborate with internal business partners to improve insight of performance using management information and identify and deploy remedial and opportunistic actions.
- Provide proactive diagnosis of trends and areas for improvement with a focus on clarity, accuracy and strategic relevance.
- Counter the impact of fraud on claims by developing and adopting appropriate strategies in conjunction with the Fraud Team.
Essential qualifications, skills, and experience
- Extensive experience in motor claims management, with a thorough understanding of claims processes and current market trends.
- Proven ability to deliver on key goals and drive measurable performance improvements within tight timeframes.
- In-depth technical expertise in motor liability, credit hire, personal injury, and relevant legal and regulatory frameworks.
- Experience of working with actuarial development triangles.
- Skilled in producing professional, well-structured, and accurate reports suitable for formal committee review, within set deadlines.
- Track record of delivering a strategic review of credit hire controls and initiatives to improve the customer experience and enhance controls on indemnity spend.
Desirable qualifications, skills, and experience
- Demonstrable experience in leading claims automation initiatives or driving digital transformation within a claims environment.
Desirable behavioural attributes
- High level of numeracy and analytical skills, with the ability to interpret data and identify underlying trends that support sound judgment within decision-making.
- Innovative approach to problem solving.
- Maintains a strategic perspective.
- Strong commercial awareness with a clear understanding of portfolio performance across both Claims and Underwriting functions.
- Flexible leadership style, with a passion for coaching and developing team members to support personal growth.
- Ability to build effective internal and external relationships.
- Excellent communication, negotiation, and stakeholder engagement capabilities.
- Results-driven, with a focus on identifying opportunities for improvement and delivering enhanced outcomes.
Head of Third Party Damage employer: ERS Administration Services
Contact Detail:
ERS Administration Services Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Third Party Damage
✨Tip Number 1
Network like a pro! Get out there and connect with people in the industry. Attend events, join online forums, and don’t be shy to reach out on LinkedIn. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by researching the company and its culture. Understand their values and how they align with your own. This will help you tailor your responses and show that you're genuinely interested in being part of their team.
✨Tip Number 3
Practice makes perfect! Conduct mock interviews with friends or use online resources to refine your answers. Focus on articulating your experience in motor claims management and how it relates to the role of Head of Third Party Damage.
✨Tip Number 4
Don’t forget to follow up after interviews! A simple thank-you email can go a long way in leaving a positive impression. It shows your enthusiasm for the role and keeps you fresh in their minds.
We think you need these skills to ace Head of Third Party Damage
Some tips for your application 🫡
Tailor Your CV: Make sure your CV speaks directly to the role of Head of Third Party Damage. Highlight your experience in motor claims management and any relevant achievements that align with the key responsibilities mentioned in the job description.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this role. Mention your strategic vision for third-party claims and how your skills can drive innovation and performance improvements.
Showcase Your Analytical Skills: Since the role requires a high level of numeracy and analytical skills, be sure to include examples of how you've used data to make decisions or improve processes in your previous roles. This will show us you can handle the financial analysis aspect of the job.
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at ERS Administration Services
✨Know Your Claims Inside Out
Make sure you have a solid understanding of motor claims management and the current market trends. Brush up on your knowledge of claims processes, especially in areas like motor liability and credit hire, as these will likely come up during the interview.
✨Showcase Your Strategic Vision
Be prepared to discuss how you would develop and deliver a strategic vision for third-party motor claims. Think about how you can align this with the overall claims strategy and be ready to share examples of past successes in driving performance improvements.
✨Demonstrate Your Analytical Skills
Since the role requires a high level of numeracy and analytical skills, come equipped with examples of how you've used data analytics to drive innovation or improve processes in previous roles. Highlight any experience you have with actuarial development triangles as well.
✨Build Relationships Like a Pro
This position involves collaborating with various external partners, so be ready to talk about your experience in building influential relationships. Share specific examples of how you've engaged with stakeholders to achieve operational excellence and enhance customer outcomes.
