At a Glance
- Tasks: Manage and settle diverse claims in a dynamic insurance environment.
- Company: Join Munich Re, a leader in innovative insurance solutions.
- Benefits: Competitive salary, inclusive culture, and opportunities for professional growth.
- Other info: Embrace a culture of curiosity, positivity, and inclusion.
- Why this job: Make a real impact in a role that values diversity and innovation.
- Qualifications: University degree or relevant experience in claims handling.
The predicted salary is between 50000 - 65000 £ per year.
This is an important role in our growing Specialty, Property & Casualty London Market portfolio. This individual will be responsible for handling claims in a diverse and complex claims portfolio arising from (inter alia) our Energy, Casualty (US and International), Liability (Marine and Energy), Space, Political Risks & Credit, and Political Violence & Terrorism. The role will be focussed on third-party Casualty (US and International) and third-party Liability (including Marine and Energy Liability) claims predominantly. The individual will be part of a leading market team which promotes a culture of diligence, curiosity, positivity and inclusion within the organization. They will be expected to take a proactive approach to the management of claims and to provide a quality claims service, which pays valid claims promptly and sets reserves in line with our reserving philosophy whilst taking account of applicable regulatory requirements.
Responsibilities
- Manage, adjust, and settle a portfolio of claims within claims handling/settlement authority and in accordance with claims handling procedures and SLAs.
- Liaise with clients, brokers, Claims Agreement Parties, Xchanging, loss adjusters, lawyers, TPA’s, underwriting teams and other third party experts as appropriate.
- Report claims in accordance with claims reporting requirements to internal stakeholders.
- Ensure that relevant records are made and kept in accordance with the firm’s procedures and compliance manuals.
- Ensure the accuracy of figures held internally for those claims falling within the role’s settlement authority, including suitable and timely reserves.
- Assist in a quarterly review of open reserves to the Syndicate of claims falling within the classes of business authorised to manage, to determine whether reserves are adequate, with a view to enabling production of accurate figures.
- Assist in the handling of complaints and the liaison with Compliance, Lloyd’s and FCA where appropriate.
- Understand and comply with the Lloyd’s Minimum Standards and Claims Schemes where appropriate.
- Proactively participate in initiatives, projects and other tasks related to the role and business when required.
Knowledge and Skills
- University Degree and/or relevant professional qualification.
- Claims handling experience in a relevant field.
- ACII qualification/ progressing towards ACII qualification or relevant experience.
- Sound business knowledge and understanding of:
- Underlying principles of insurance practice
- Generic legal principles
- FCA rules and regulations
- Lloyd’s regulations
- Demonstrate clear understanding of all company specific procedures that relate to own role.
- Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the organisation.
- Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation.
- Identify, where relevant, any potential risks facing the business and the controls that are in place to mitigate them.
- Report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.
- Good knowledge and understanding of claims within authority level.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed. All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Claims Adjuster, Energy & Complex Risk Claims employer: Munich Re Specialty - Global Markets, Syndicate
At Munich Re, we pride ourselves on being an exceptional employer, particularly for the Claims Adjuster role within our dynamic London Market team. Our inclusive work culture fosters collaboration and innovation, while our commitment to employee growth ensures that you will have access to ongoing professional development opportunities. With a focus on diversity, equity, and inclusion, we create a supportive environment where every team member can thrive and contribute meaningfully to our complex risk claims portfolio.
Contact Details:
Munich Re Specialty - Global Markets, Syndicate Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Claims Adjuster, Energy & Complex Risk Claims
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and understanding their claims processes. Be ready to discuss how your experience aligns with their needs, especially in handling complex claims.
✨Tip Number 3
Showcase your proactive approach! During interviews, share examples of how you've managed claims effectively in the past. Highlight your ability to work with various stakeholders and resolve issues swiftly.
✨Tip Number 4
Don’t hesitate to apply through our website! Even if you don’t tick every box, we value diverse experiences and perspectives. Your unique background could be just what we’re looking for!
We think you need these skills to ace Claims Adjuster, Energy & Complex Risk Claims
Some tips for your application 🫡
Tailor Your CV:Make sure your CV reflects the skills and experiences that align with the Claims Adjuster role. Highlight any relevant claims handling experience and qualifications, like your ACII progress, to show us you’re a great fit!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're excited about this role and how your background makes you the perfect candidate. Don’t forget to mention your proactive approach and commitment to quality service.
Showcase Your Knowledge:We love candidates who understand the insurance landscape! In your application, demonstrate your knowledge of insurance principles, regulatory requirements, and the specific claims types mentioned in the job description. This will help us see your expertise.
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 don’t miss out on any important updates during the process. Plus, we can’t wait to hear from you!
How to prepare for a job interview at Munich Re Specialty - Global Markets, Syndicate
✨Know Your Claims Inside Out
Before the interview, make sure you brush up on your knowledge of claims handling, especially in the areas of Energy and Complex Risk. Familiarise yourself with the specific types of claims mentioned in the job description, like third-party Casualty and Liability claims. This will show that you're not just interested in the role but also understand the complexities involved.
✨Showcase Your Proactive Approach
During the interview, highlight examples from your past experience where you've taken a proactive approach to managing claims. Discuss how you’ve ensured timely payments and set appropriate reserves. This aligns perfectly with the company’s emphasis on diligence and quality service.
✨Demonstrate Your Understanding of Regulations
Make sure you’re well-versed in the relevant regulations, such as FCA rules and Lloyd’s Minimum Standards. Bring up any experiences where you’ve had to navigate these regulations in your previous roles. This will demonstrate your ability to comply with necessary standards and your commitment to maintaining high-quality service.
✨Emphasise Your Team Spirit
Since the role involves liaising with various stakeholders, it’s crucial to convey your ability to work collaboratively. Share instances where you’ve successfully worked with clients, brokers, or legal teams. This will resonate well with the company’s culture of positivity and inclusion.
