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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, 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 learn about 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 with 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 in London 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 in London
✨Tip Number 1
Network like a pro! Reach out to people in the insurance industry, especially those working at Munich Re. A friendly chat can open doors and give you insights that a job description just can't.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of insurance principles and regulations. Show us you're not just a candidate, but someone who's genuinely interested in the field and ready to contribute.
✨Tip Number 3
Don’t underestimate the power of follow-ups! After an interview, drop a quick thank-you email. It shows your enthusiasm and keeps you fresh in their minds.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re keen on joining our team at Munich Re.
We think you need these skills to ace Junior Claims Administrator in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Junior Claims Administrator role. Highlight any relevant experience or skills that match the job description, like your understanding of insurance principles and market systems. We want to see how you fit into our team!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're interested in the role and how your background makes you a great fit. Be bold and show us your curiosity about the industry and our company culture.
Showcase Your Attention to Detail: As a claims administrator, attention to detail is key. Make sure your application is free from typos and errors. This shows us that you can handle the technical processing and reconciliation tasks with precision.
Apply Through Our Website: We encourage you to apply through our website for the best chance of getting noticed. It’s straightforward and ensures your application goes directly to us. Plus, you’ll get to explore more about our company while you’re at it!
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. Familiarise yourself with FCA rules and Lloyds regulations, as these are crucial for a Junior Claims Administrator role. Showing that you understand these concepts will impress your interviewers.
✨Demonstrate Your Analytical Skills
Since the role involves daily event coding and analysis, be prepared to discuss how you've used analytical skills in past experiences. Bring examples of how you've tackled similar tasks or solved problems, as this will showcase your ability to handle the responsibilities of the position.
✨Show Your Curiosity
The company values curiosity, so don’t hesitate to ask insightful questions during your interview. This could be about their claims processes or how they handle major loss reporting. It shows you're engaged and eager to learn more about the role and the company.
✨Be Ready to Discuss Team Dynamics
Understanding the roles of colleagues and how they fit into the business structure is key. Be prepared to talk about how you work in teams and your approach to collaboration. Highlight any experiences where you’ve contributed to team success, as this aligns with the supportive culture they promote.