Junior Claims Administrator

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this. At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

We are looking for a Junior Claims Administrator to join our London city office with hybrid working of 2-3 days per week in the office. You will take a proactive approach to the management of claims and to provide a quality claims service, which pays valid claims promptly and sets reserves at expected ultimate cost, effectively, efficiently, consistently, accurately and in a timely manner, whilst taking account of applicable regulatory requirements.

Responsibilities

• General claims administration
• Daily event coding of SCM messages including analysis and entry of bordereaux where necessary.
• Reconciliation of Service Company statistics and Roanoke payments
• Major loss reporting and tracking
• Static claims
• Diary Chasing
• Technical processing corrections
• Investigations of outstanding TBAs, Nil reserves and aged incompletes
• Attending meetings, both internal and external, and taking minutes where required;
• Any filing, photocopying or scanning for the Claims Team as and when required
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

• Understanding of: Underlying Principles of Insurance, Legal Principles, FCA and rules and regulations, Lloyds regulations
• Basic knowledge of market systems
• Basic knowledge of market strategies
• All firm specific procedures that relate to own role
• Develop understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm
• Willingness to continue to develop knowledge of policies, underwriting and related issues through formal and informal learning, both internally and externally to the firm
• Be aware of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.

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.