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For Companies At a Glance
- Tasks: Manage claims and support multiple business lines in a dynamic insurance environment.
- Company: Join IQUW, a leading specialty (re)insurer at Lloyd’s with a collaborative culture.
- Benefits: Enjoy competitive salary, generous holiday allowance, and professional development support.
- Why this job: Make an impact in the insurance industry while working with a diverse team.
- Qualifications: Experience in commercial/specialty insurance and strong relationship management skills.
- Other info: Opportunity for career growth and mentoring junior team members.
The predicted salary is between 36000 - 60000 ÂŁ per year.
Join IQUW as a Senior Claims Handler - Professional Lines. Responsible for the day-to-day management of claims and providing support across multiple business lines within the Professional Lines Division.
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
Our group thrives on four core values: Empowerment, Collaboration, Drive, and Inclusivity. We encourage initiative, value each member’s contributions, foster teamwork for innovative solutions, stay motivated to achieve our goals and ensure everyone feels respected and valued.
The Role
IQUW’s Professional Lines Division underwrites directors’ and officers’ liability insurance for public companies and various coverages for private and public financial institutions, including professional indemnity, D&O, and crime. The Senior Claims Handler will manage assigned claims, provide support to the Specialty Division (Cyber, Crisis Management, Political Risk, Terrorism and War), and deliver a high standard of service within a designated authority, in accordance with internal guidelines, market practices and relevant legal requirements.
Key Responsibilities
- Adjust, assess and manage assigned claims within a defined authority, including the identification and triage of claims’ potential severity; ensure coverage is accurately reviewed and reserving is correctly set and maintained throughout the claim’s life cycle.
- Handle claims proactively with an organised approach to diary management, in accordance with IQUW’s Claims Management Guidelines, Lloyd’s standards and all regulatory and statutory requirements.
- Define file strategies and negotiate settlements in accordance with policy terms and conditions.
- Manage large and/or complex claims with attention to escalating correctly and referring appropriately where support or guidance is needed.
- Report on large losses expediently, both internally and to defined external stakeholders, including auditors and reinsurers.
- Support and collaborate closely with Professional Lines Underwriters, attend regular team meetings, provide claims-related information, assist with policy wordings and endorsements, and attend pre‑inception/renewal/claims review meetings as required.
- Provide assistance to and collaborate with pricing and reserving actuaries, the management information team, outwards reinsurance team, finance and other internal stakeholders.
- Travel domestically or internationally as required.
- Assist with reviews of vendor panels, claims audits and service‑provider audits, and legal and/or claims studies.
- Support the Head of Claims by contributing to claims strategies and infrastructure to meet IQUW’s growth plans.
- Engage in mentoring and coaching of more junior team members, including referral support.
- Work effectively with peers in shared functions within IQUW to provide seamless delivery of the company’s objectives.
Essential Qualifications, Skills and Experience
- Relevant experience in commercial/specialty insurance within the Lloyd’s and/or London Market.
- Experience with or understanding of reinsurance.
- Extensive track record of managing lawyers, loss adjusters and other significant third‑party service providers in relevant markets.
- Knowledge of key processes within the Lloyd’s Market, including Lloyd’s Lead Claims Arrangements and their impact on IQUW’s position.
- Experience in large loss management.
- Awareness of regulatory requirements around claims management in the London insurance/reinsurance market, including delegated authorities.
- Deep knowledge of the UK and US legal systems, with experience in US and Australian claims handling preferred.
- Experience in market meetings with insurers/reinsurers and service providers, and confidence in client and broker engagement.
- Established peer network with brokers, insurers and service providers; ability to develop and maintain internal and external relationships.
Benefits
- Competitive benchmarked salary aligned with industry standards.
- Generous holiday allowance: 25 days each year.
- Discretionary bonus scheme for exceptional performance.
- Employee Assistance Programme to support personal and professional challenges.
- Annual holiday buy: option to purchase up to three additional days.
- Salary sacrifice benefits for tax‑efficient access to additional benefits.
- Annual benefits reviews to ensure optimal offerings.
- Professional development support for your qualifications.
Seniority level: Mid‑Senior level
Employment type: Full‑time
Job function: Finance and Sales
Industries: Insurance
Senior Claims Handler - Professional Lines employer: IQUW
Contact Detail:
IQUW Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Claims Handler - Professional Lines
✨Tip Number 1
Network like a pro! Reach out to your connections in the insurance industry, especially those who work at IQUW or similar companies. A friendly chat can open doors and give you insider info that could help you stand out.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of claims management and the Lloyd’s market. Be ready to discuss your experience with large loss management and how you’ve handled complex claims in the past.
✨Tip Number 3
Show off your collaborative spirit! During interviews, highlight examples where you’ve worked closely with underwriters or other teams. IQUW values teamwork, so make sure they see how you fit into that culture.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you’re serious about joining the IQUW team and ready to contribute to their growth plans.
We think you need these skills to ace Senior Claims Handler - Professional Lines
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Senior Claims Handler role. Highlight your relevant experience in commercial and specialty insurance, especially within the Lloyd’s market. We want to see how your skills align with our core values of Empowerment, Collaboration, Drive, and Inclusivity.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about claims handling and how your background makes you a perfect fit for IQUW. Don’t forget to mention any experience you have with large loss management or working with third-party service providers.
Showcase Your Achievements: When detailing your experience, focus on specific achievements rather than just duties. Did you successfully manage a complex claim? Did you improve processes? We love to see quantifiable results that demonstrate your impact in previous roles.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, it shows us you’re proactive and keen to join our team at IQUW!
How to prepare for a job interview at IQUW
✨Know Your Claims Inside Out
Before the interview, brush up on your knowledge of claims management, especially within the Professional Lines Division. Be ready to discuss specific cases you've handled, focusing on your approach to adjusting and assessing claims, as well as how you navigated complex situations.
✨Showcase Your Collaboration Skills
IQUW values collaboration, so be prepared to share examples of how you've worked effectively with underwriters, lawyers, and other stakeholders. Highlight any experiences where teamwork led to innovative solutions or improved outcomes in claims handling.
✨Demonstrate Your Regulatory Knowledge
Familiarise yourself with the regulatory requirements around claims management in the London insurance market. Be ready to discuss how you've ensured compliance in your previous roles and how you would apply that knowledge at IQUW.
✨Engage with Their Core Values
IQUW thrives on empowerment, drive, and inclusivity. During the interview, reflect these values in your responses. Share how you've empowered team members or driven initiatives in past roles, and express your commitment to fostering an inclusive work environment.
