At a Glance
- Tasks: Manage and settle diverse claims in a dynamic and complex portfolio.
- Company: Join Munich Re, a leader in the insurance industry with a focus on innovation.
- Benefits: Enjoy competitive pay, inclusive culture, and opportunities for professional growth.
- Other info: Be part of a diverse team committed to equity and inclusion.
- Why this job: Make a real impact in a role that values curiosity and proactive problem-solving.
- Qualifications: University degree or relevant qualification; experience in claims handling preferred.
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.
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
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 innovation and collaboration, while offering robust professional development opportunities to help you grow your career in the complex field of Energy and Casualty claims. With a commitment to diversity, equity, and inclusion, we ensure that every employee feels valued and empowered to contribute meaningfully to our mission.
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 its culture. Understand their approach to claims management and be ready to discuss how your experience aligns with their values. Show them you're not just another candidate!
✨Tip Number 3
Practice your pitch! Be clear about your skills and experiences that relate to the role of Claims Adjuster. Tailor your responses to highlight your proactive approach and understanding of complex claims.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen. Plus, it shows you’re genuinely interested in being part of our team at Munich Re.
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 is tailored to the Claims Adjuster role. Highlight your relevant experience in handling complex claims, especially in Energy and Liability sectors. We want to see how your skills align with our needs!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to showcase your passion for the role and the company. Mention specific examples of your claims handling experience and how you embody our values of diligence and curiosity.
Showcase Your Knowledge:Demonstrate your understanding of insurance principles and regulations in your application. We love candidates who can articulate their knowledge of FCA rules and Lloyd's regulations, so don’t hold back!
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 shows you’re proactive, which we really appreciate!
How to prepare for a job interview at Munich Re
✨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 Diligence and Curiosity
The company values a culture of diligence and curiosity, so be prepared to discuss how you've demonstrated these traits in your previous roles. Think of examples where you proactively managed claims or sought out additional information to resolve complex issues. This will highlight your fit within their team.
✨Understand Regulatory Requirements
Make sure you have a solid grasp of the relevant regulations, such as FCA rules and Lloyd's Minimum Standards. Being able to discuss how you’ve adhered to these in past roles will demonstrate your commitment to compliance and quality service, which is crucial for this position.
✨Emphasise Your Commitment to Diversity and Inclusion
Since the company places a strong emphasis on diversity, equity, and inclusion, be ready to share your thoughts on these topics. Discuss any experiences you have that relate to fostering an inclusive environment or working with diverse teams. This will resonate well with their values and show that you align with their mission.
