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- Tasks: Assist in claims administration and support the team with various tasks.
- Company: Join Munich Re Specialty, a leading insurance provider with a supportive culture.
- Benefits: Hybrid working model, competitive salary, and opportunities for personal growth.
- Other info: Great career development opportunities in a collaborative environment.
- Why this job: Be part of a dynamic team and make a real difference in the insurance industry.
- Qualifications: Basic understanding of insurance principles and a willingness to learn.
The predicted salary is between 25000 - 32000 £ per year.
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 hybrid working of 2-3 days per week in the office.
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
- 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
Junior Claims Administrator employer: Munich Re Specialty - Global Markets, UK
Contact Detail:
Munich Re Specialty - Global Markets, UK Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Junior Claims Administrator
✨Tip Number 1
Network like a pro! Reach out to people in the insurance industry, especially those at Munich Re. A friendly chat can open doors that a CV just can't.
✨Tip Number 2
Prepare for interviews by researching the company culture and values. Show us how your curiosity and boldness align with our mission at Munich Re!
✨Tip Number 3
Practice common interview questions related to claims administration. We want to see your understanding of insurance principles and how you can contribute to our team.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you're serious about joining our team at Munich Re.
We think you need these skills to ace Junior Claims Administrator
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experiences that match the Junior Claims Administrator role. Highlight any relevant insurance knowledge or administrative experience to show us you’re a great fit!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to express your enthusiasm for the role and the company. Tell us why you want to join Munich Re Specialty and how you can contribute to our supportive environment.
Showcase Your Attention to Detail: In claims administration, attention to detail is key. Make sure your application is free from typos and errors. A polished application shows us you take pride in your work and understand the importance of accuracy.
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’s super easy to do!
How to prepare for a job interview at Munich Re Specialty - Global Markets, UK
✨Know Your Insurance Basics
Make sure you brush up on the underlying principles of insurance and legal regulations. Being able to discuss these topics confidently will show that you're serious about the role and understand the industry.
✨Familiarise Yourself with Claims Processes
Get a good grasp of general claims administration and the specific tasks mentioned in the job description, like event coding and major loss reporting. This will help you answer questions more effectively and demonstrate your readiness for the role.
✨Show Your Curiosity
The company values curiosity, so come prepared with questions about their processes and culture. This not only shows your interest but also helps you gauge if the environment is right for you.
✨Highlight Your Teamwork Skills
Since the role involves attending meetings and collaborating with colleagues, be ready to share examples of how you've worked well in teams before. This will illustrate your ability to fit into their supportive culture.