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- Tasks: Lead and manage the third-party claims journey, driving innovation and operational excellence.
- Company: Join IQUW, a market-leading specialty insurer at Lloyd's with a focus on customer outcomes.
- Benefits: Competitive salary, professional development, and a dynamic work environment.
- Why this job: Make a real impact in the insurance industry while working with cutting-edge technology.
- Qualifications: Extensive experience in motor claims management and strong analytical skills required.
- Other info: Opportunity for career growth and to influence key industry partnerships.
The predicted salary is between 60000 - 80000 £ per year.
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. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.
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.
- Initiate indemnity control and operational effectiveness initiatives with sound business cases, tracking post implementation performance.
- 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.
- Use analysis to draft reports, support the preparation of executive and board packs and provide insight to financial performance of the portfolio to Underwriting, Actuarial and Finance.
- 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 in London employer: ERS
Contact Detail:
ERS Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Third Party Damage in London
✨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 values. Understand their approach to claims management and think about how your experience aligns with their goals. This will help you stand out as a candidate who truly gets what they’re about.
✨Tip Number 3
Practice makes perfect! Do mock interviews with friends or family to get comfortable with common questions. Focus on articulating your achievements and how they relate to the role of Head of Third Party Damage.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining our team at IQUW.
We think you need these skills to ace Head of Third Party Damage in London
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 job description. We want to see how you can bring value to our team!
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 specific skills like your expertise in claims automation or your innovative problem-solving approach. Let us know how you can drive performance improvements!
Showcase Your Analytical Skills: Since this 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. We love seeing candidates who can interpret data and identify trends!
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates. We can’t wait to hear from you!
How to prepare for a job interview at ERS
✨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 examples from your past experience where you've successfully implemented strategies that improved performance or customer outcomes.
✨Demonstrate Your Analytical Skills
Since this role requires a high level of numeracy and analytical skills, be ready to talk about how you've used data analytics to drive decisions in previous roles. Bring examples of reports you've produced and how they influenced business outcomes.
✨Build Relationships Like a Pro
This position involves collaborating with various external partners. Prepare to discuss how you've built and maintained effective relationships in the past, particularly with stakeholders like solicitors and insurers. Highlight your communication and negotiation skills.