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- Tasks: Verify and settle claims, investigate, negotiate, and support the Claims Management team.
- Company: Great Lakes Insurance SE is a leading provider of primary insurance services in the UK.
- Benefits: Enjoy a dynamic work environment with opportunities for professional growth and development.
- Why this job: Join a forward-thinking team focused on innovation and making a positive impact in the insurance industry.
- Qualifications: Relevant claims experience, strong analytical skills, and proficiency in Microsoft Office required.
- Other info: Open to applicants with varying levels of experience; your passion matters!
The predicted salary is between 36000 - 60000 £ per year.
Company Great Lakes Insurance SE
Location London, United Kingdom
Together, we engage with everything we have and are, to help humankind act braver and better.
About Great Lakes Insurance SE:
As a specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance UK Limited (“GLLS”), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.
About the role:
As a member of the overall Munich Re Claims community, you will actively assist in implementing the Future Global Claims set-up and advance the Munich Re Claims Ambition 2025.
Key Responsibilities:
- Verify and settle Professional Indemnity and Liability claims
- Investigate and negotiate claims as required
- Positively influence the handling and settlement of claims on both direct and reinsurance portfolios
- Check case reserves and ensure adequate provision is made for outstanding liabilities
- Conduct client visits, audit and due diligence where required
- Identify and analyse legal, political and market developments; report those developments and their potential impact on the business to relevant stakeholders
- Provide feedback to underwriters from a claims perspective
- Build and maintain reputation as technical experts and market leaders on casualty claims related issues
- Provide support and assistance to the Deputy Claims Manager and Senior Claims Management where required
- Provide technical and operational support
- Where the loss affects the Reinsurance arrangement, liaise with Munich Re in line with the contractual claims related issues
- Provide regular updates on material developments to the Claims Management
Key Skills & Experience:
- Relevant claims experience in Professional Indemnity
- Knowledge/experience of Liability claims is an advantage
- Able to analyse and set reserves
- Able to manage and organise a caseload of work independently
- Can work effectively as a member of a team and provide support to colleagues
- Able to build and maintain professional relationships
- Microsoft Office proficiency
- Good knowledge of insurance and reinsurance
- Good knowledge of the ECF system
Regulatory & Conduct Requirements:
In addition to the responsibilities set out above, the Claims Adjuster role/function will also become responsible for:
- Ensuring compliance with Insurance Distribution Directive
- Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules
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!
Claims Adjuster - Professional Indemnity & Liability employer: Munich Re
Contact Detail:
Munich Re Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Claims Adjuster - Professional Indemnity & Liability
✨Tip Number 1
Familiarise yourself with the latest trends and developments in Professional Indemnity and Liability claims. This knowledge will not only help you during interviews but also demonstrate your commitment to staying updated in the field.
✨Tip Number 2
Network with professionals in the insurance industry, especially those who work in claims adjusting. Attend relevant events or join online forums to connect with others and gain insights that could give you an edge in your application.
✨Tip Number 3
Prepare to discuss specific examples from your past experience where you've successfully managed claims or influenced outcomes positively. This will showcase your practical skills and ability to handle the responsibilities of the role.
✨Tip Number 4
Research Great Lakes Insurance SE and their approach to claims management. Understanding their values and business model will allow you to tailor your conversation during interviews and show how you align with their goals.
We think you need these skills to ace Claims Adjuster - Professional Indemnity & Liability
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant claims experience, particularly in Professional Indemnity and Liability. Use specific examples to demonstrate your skills in managing caseloads and negotiating claims.
Craft a Compelling Cover Letter: Write a cover letter that showcases your enthusiasm for the role and the company. Mention how your background aligns with the key responsibilities and skills outlined in the job description.
Highlight Relevant Skills: In your application, emphasise your ability to analyse and set reserves, as well as your proficiency in Microsoft Office and knowledge of the ECF system. These are crucial for the Claims Adjuster position.
Showcase Teamwork and Communication: Provide examples of how you have effectively worked as part of a team and built professional relationships in previous roles. This will demonstrate your ability to support colleagues and influence claims handling positively.
How to prepare for a job interview at Munich Re
✨Understand the Role
Make sure you have a solid grasp of what a Claims Adjuster does, especially in Professional Indemnity and Liability. Familiarise yourself with the key responsibilities listed in the job description, as this will help you answer questions more effectively.
✨Showcase Relevant Experience
Prepare to discuss your previous claims experience, particularly in Professional Indemnity and Liability. Be ready to provide specific examples of how you've handled claims, negotiated settlements, or influenced outcomes in your past roles.
✨Demonstrate Analytical Skills
Since the role requires analysing and setting reserves, be prepared to discuss your analytical skills. You might be asked to solve hypothetical scenarios, so practice articulating your thought process clearly and logically.
✨Build Rapport
During the interview, focus on building a connection with your interviewers. Show that you can work effectively as part of a team and maintain professional relationships, as this is crucial for the role. A friendly and approachable attitude can go a long way!
