At a Glance
- Tasks: Manage and settle diverse claims in a dynamic insurance environment.
- Company: Join Munich Re, a leader in insurance with a focus on diversity and inclusion.
- Benefits: Competitive salary, professional development, and a supportive work culture.
- Other info: Embrace a culture of curiosity and positivity in a collaborative team.
- Why this job: Make a real impact in the insurance industry while growing your skills.
- Qualifications: University degree and claims handling experience preferred.
The predicted salary is between 45000 - 55000 £ 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.
- 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.
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 in London employer: Munich Re
Munich Re is an exceptional employer, offering a dynamic work environment in the heart of London where innovation and collaboration thrive. With a strong commitment to diversity, equity, and inclusion, employees are encouraged to grow both personally and professionally, supported by comprehensive training and development opportunities. The company promotes a positive culture that values curiosity and diligence, making it an ideal place for those seeking meaningful and rewarding careers in the complex field of claims adjustment.
StudySmarter Expert Advice🤫
We think this is how you could land Claims Adjuster, Energy & Complex Risk Claims in London
✨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 values around diversity, equity, and inclusion, and be ready to discuss how you can contribute to that environment.
✨Tip Number 3
Practice your responses to common interview questions, especially those related to claims handling and risk management. Use the STAR method (Situation, Task, Action, Result) to structure your answers.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining our team.
We think you need these skills to ace Claims Adjuster, Energy & Complex Risk Claims in London
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 experiences that demonstrate your proactive approach and understanding of claims management.
Showcase Your Knowledge:In your application, don’t forget to mention your understanding of insurance principles and regulations. We love candidates who are knowledgeable about FCA rules and Lloyd's standards, so make sure to highlight this!
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 keen on joining our team!
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 Liability. Familiarise yourself with relevant regulations and procedures, as well as any recent developments in the industry. This will show that you're proactive and genuinely interested in the role.
✨Showcase Your Communication Skills
As a Claims Adjuster, you'll be liaising with various stakeholders. During the interview, demonstrate your ability to communicate clearly and effectively. Use examples from your past experiences where you've successfully managed relationships with clients, brokers, or legal teams to highlight your interpersonal skills.
✨Emphasise Your Problem-Solving Abilities
Be prepared to discuss specific challenges you've faced in claims management and how you resolved them. This could involve anything from adjusting reserves to handling complaints. Showing that you can think critically and act decisively will set you apart from other candidates.
✨Align with Their Culture
The company values diligence, curiosity, positivity, and inclusion. Make sure to convey how your personal values align with theirs. Share examples of how you've contributed to a positive team environment or how you've embraced diversity in your previous roles. This will help you fit into their culture seamlessly.
