At a Glance
- Tasks: Lead and manage the third-party claims journey, ensuring fair outcomes and operational excellence.
- Company: Join IQUW, a leading specialty (re)insurer at Lloyd’s with a focus on innovation.
- Benefits: Competitive salary, career development opportunities, and a dynamic work environment.
- Other info: Collaborative culture with opportunities for personal growth and leadership development.
- Why this job: Make a real impact in motor insurance while driving digital transformation and innovation.
- Qualifications: Extensive experience in motor claims management and strong analytical skills required.
The predicted salary is between 72000 - 108000 £ per year.
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.
Overview
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.
- 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 in London employer: IQUW Syndicate Management Limited
IQUW is an exceptional employer, offering a dynamic work environment in the heart of London where innovation meets expertise. As the UK's largest specialist motor insurer, we prioritise employee growth through continuous learning and development opportunities, while fostering a collaborative culture that values diverse perspectives. With a commitment to fair customer outcomes and a focus on digital transformation, our team enjoys the unique advantage of working at the forefront of the insurance industry, driving meaningful change and making a real impact.
Contact Details:
IQUW Syndicate Management Limited Recruitment 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 culture. Understand their values and how they align with your own. This will help you stand out and show that you’re genuinely interested in being part of their team.
✨Tip Number 3
Practice makes perfect! Do mock interviews with friends or family to get comfortable with common questions. The more you practice, the more confident you’ll feel when it’s time to shine in front of the real interviewers.
✨Tip Number 4
Don’t forget to follow up after your interview! A simple thank-you email can go a long way in leaving a positive impression. It shows your enthusiasm and keeps you fresh in their minds as they make their decision.
We think you need these skills to ace Head of Third Party Damage in London
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the Head of Third Party Damage role. 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!
Showcase Your Skills:Don’t just list your skills; demonstrate them! Use specific examples from your past experiences that showcase your technical expertise in motor liability and your ability to drive performance improvements. This is your chance to shine, so make it count!
Be Clear and Concise:When writing your application, keep it clear and to the point. Avoid jargon and ensure your language is professional yet approachable. We appreciate straightforward communication, so make sure your key points stand out!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team at IQUW!
How to prepare for a job interview at IQUW Syndicate Management Limited
✨Know Your Claims Inside Out
Make sure you have a solid understanding of motor claims management, especially the processes and current market trends. Brush up on your knowledge of motor liability, credit hire, and personal injury claims, 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 how you've driven innovation in previous roles.
✨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 improve performance or identify trends. This will show that you can make informed decisions based on detailed financial analysis.
✨Build Relationships Like a Pro
Highlight your experience in building influential relationships with external partners. Be ready to discuss how you've collaborated with repair networks, solicitors, and other stakeholders to achieve operational excellence and enhance customer outcomes.
