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- Tasks: Manage claims efficiently and provide top-notch service to customers.
- Company: Join Munich Re, a leader in insurance with a focus on diversity and inclusion.
- Benefits: Hybrid work model, competitive salary, and opportunities for professional growth.
- Other info: Dynamic team environment with a commitment to diversity and equity.
- Why this job: Make a real difference in the insurance industry while developing your skills.
- Qualifications: Basic understanding of insurance principles and a willingness to learn.
The predicted salary is between 30000 - 40000 £ per year.
Location: London city office (hybrid, 2-3 days per week in office). You will take a proactive approach to the management of claims and provide a quality claims service, paying valid claims promptly and setting reserves at expected ultimate cost, effectively, efficiently, consistently, accurately and in a timely manner, while accounting for applicable regulatory requirements.
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.
Knowledge and Skills
- 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.
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.
Junior Claims Administrator employer: myGwork - LGBTQ+ Business Community
Contact Detail:
myGwork - LGBTQ+ Business Community 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 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, especially around Diversity, Equity, and Inclusion, so you can show how you align with their mission during your chat.
✨Tip Number 3
Practice common interview questions and scenarios related to claims administration. This will help you articulate your understanding of the role and demonstrate your proactive approach to managing claims effectively.
✨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 Junior Claims Administrator
Some tips for your application 🫡
Tailor Your CV: Make sure your CV speaks directly to the Junior Claims Administrator role. Highlight any relevant experience or skills that match the job description, like your understanding of insurance principles and claims management.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your background makes you a great fit. Don’t forget to mention your willingness to learn and grow within the company.
Showcase Your Attention to Detail: In claims administration, accuracy is key. Make sure your application is free from typos and errors. This shows us that you can handle the meticulous nature of the job right from the start!
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at myGwork - LGBTQ+ Business Community
✨Know Your Claims Basics
Make sure you brush up on the underlying principles of insurance and legal regulations. Understanding the FCA rules and Lloyds regulations will show that you're serious about the role and can hit the ground running.
✨Show Your Proactive Side
During the interview, highlight any experiences where you've taken initiative in past roles. Whether it’s managing claims or improving processes, demonstrating a proactive approach will resonate well with the interviewers.
✨Familiarise Yourself with the Company Culture
Research Munich Re's commitment to diversity, equity, and inclusion. Be prepared to discuss how you can contribute to this culture and why it matters to you. This shows that you align with their values and are ready to be part of their team.
✨Prepare for Technical Questions
Expect questions related to claims administration and technical processing. Brush up on your knowledge of market systems and strategies, and be ready to discuss how you would handle specific scenarios in the role.