AVP, Technical Lead

Are you looking for your next opportunity? Sompo has a unique opportunity for a Technical Lead, Financial Lines – Claims in our Claims team. The role is responsible for accurately and promptly evaluating and processing claims estimates and paid claims in accordance with policy terms and conditions, ensuring the required level of service is delivered and the company’s contractual obligations are met at all times. It also involves using analytics and insights to drive continuous improvement in the use of TPAs and third-party experts, as well as building effective tools, processes and governance to minimise regulatory, legal and operational risk and ensure operational reporting is accurate and delivered within required timelines. Throughout all aspects of the role, delivery and performance are expected to consistently reflect our Sompo Values.

Location: This position will be based out of our London office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers. Our business, your impact, our opportunity.

What you’ll be doing:

• Contributes to, monitors and advises on the plan developments and changes in order to ensure relevancy, compliance and optimal delivery.
• Manages complex claims in collaboration with peers and colleagues in other offices in the processes and technicalities of the claims portfolio.
• Deliver accurate and timely reporting to the claim’s management and leadership, as required.
• Lead data analysis work to provide valuable insights that improve claims performance.
• Be the key liaison person regarding designated claims portfolio with, but not limited to: Underwriters, Risk, Compliance, Finance and Actuarial.
• Determines own work priorities and activities in line with agreed plans to ensure the achievement of the team and claims function objectives.
• Timely and accurate performance and execution against the Control Framework Key Performance Indicators.
• Regulatory reporting meets the required expectations.
• Clear alignment, and engagement to claims ambition and goals.
• Senior claims leadership and management feedback.
• Relevancy, accuracy and timeliness of contribution/advice.
• Insights drive performance improvement.
• Risk mitigation & avoidance.
• Compliance with the Control Framework Policy, Process and Procedures.
• Support the regulatory and legislative response and adherence to standards and embed any required change or mitigation required within designated claims portfolio.
• Support the implementation of the claims strategy to enable delivery of overall business targets and performance against KPI’s via the utilisation of data and intelligence.
• Investigate and resolve technical and operational issues within designated claims portfolio and reconcile escalates.
• Provide expert technical support across claims function, as appropriate.
• Develop and present recommendations to claims systems and processes to achieve first class service and experience to internal and external clients.
• Timely and accurate performance and execution against the Control Framework Key Performance Indicators.
• High quality documentation/training material produced, with appropriate rationale.
• Positive feedback from claims leadership and internal stakeholders.
• Enhanced results from internal and external claims audit procedures and achieving benchmarks, enabled by the effectiveness of reporting.
• Risk mitigation & avoidance.
• Claims and regulatory standards met.
• Sompo’s internal reporting standards met.
• Strong results with regulators in response to standards and legislation that we must comply with and are measured by.
• Compliance with the Control Framework Environmental Awareness / Customer Focus.
• Foster strong relationships with brokers, 3rd parties, and our customers via multi-channel engagement and focused forums.
• Champion collaboration and engagement with internal stakeholders to enable the resolution of issues and the implementation of initiatives.
• Wider market engagement, including any applicable committee membership, to promote the Sompo brand and claims reputation.
• Support the design and delivery of service standards, customer insights, and outcomes, in relation to the management of the designated claims portfolio.
• Develop and maintain stakeholder relationships across claims and other functions across Sompo.
• Positive stakeholder and supplier feedback.
• Open, pro-active and regular communication.
• Achievement of objectives.
• Positive feedback from clients, brokers, internal customers and management.
• Risk mitigation and avoidance.
• Creation of opportunities to share ideas, concepts and development work, that is holistic and performed in consideration of key claims and stakeholder requirement.
• Technical Performance
• Produce regular statistical and analytical Claims information to Underwriters, Professional Indemnity & Management Liability Claims Manager and senior leadership to enable effective monitoring of Claims.
• Develop/maintain sufficient knowledge of Claims portfolio, to enable provide excellent Claims handling service with minimal leakage as well as recommending and actioning improvements to improve quality, service delivery, and efficiency (via practices and processes).
• Ensure accurate and timely update of the company’s systems as and when required.
• Support the claims function in the production of KPIs and management information reports.
• Act as a referral point to other members of the claims team on specific tasks or in the absence of the Professional Indemnity & Management Liability Claims Manager or the Head of Financial Lines Claims.
• Quality, accurate information made available to Underwriters and external and internal customers.
• Satisfactory audit from internal claims audit.
• Leakage within agreed tolerance.
• Claims reserves entered and coverage issues managed in accordance with Company claims philosophy.
• Appropriate use of experts.
• Management of static/slow moving claims.

What you’ll bring:

• Knowledge
• Extensive and relevant knowledge of technical claims handling in a claims function, operating in a highly regulated environment.
• Extensive experience of technical claims management supporting multiple lines of business / claims across geographies and industries with differing regulatory and legislative standards.
• Strong understanding of delegated and third-party claims management from a technical, commercial, and operational perspective.
• Skills
• Able to navigate and assimilate complex technical data applications and sources.
• Strong investigative skills.
• Negotiation skills.
• Influencing skills.
• Collaboration skills.
• Attention to detail with a track record of delivering service excellence via detailed and technical processes.
• Strong interpersonal and communication skills.
• Good organisational skills.
• Able to work independently.
• Proficient in MS Office applications; Word, Excel and Powerpoint.
• Able to manage conflicting priorities to achieve deadlines.
• Ability to plan effectively and efficiently.
• Ability to collaborate effectively within a team environment.
• Experience
• Deep experience and a proven track record of working in a Claims environment within a specialized/complex Claims area.
• Recognised qualification(s) and/or good practical knowledge of the insurance regulatory framework.
• Strong commercial experience of the general insurance industry and claims trends to be able to provide expert advice and opinion where required.

Desirable personal attributes aligned to what success looks like in the role:

• Independent challenger - ability to innovate and challenge, utilising consultative questioning, current norms to drive change within the claims function, and work with people of varying backgrounds and organisational levels.
• Knowledgeable practitioner – deals confidently with uncertainty, leans into difficult conversations while lowering the pressure of resistance.
• Strong problem-solving skills with the ability to think, influence and act strategically.
• Effective communicator – structures insights into clear messages and effectively engages others within claims function, as well as internal stakeholders, professional and regulatory bodies.
• Change agent – leverages a skilful understanding of persuasion and influence, knowing which techniques to deploy while remaining a trusted advisor to Senior Management across the Business.

Benefits we offer:

• Health & Wellness Benefits.
• Retirement & Savings Plans.
• Global Parental Leave & Adoption Assistance.
• Employee Assistance Program.
• Tuition Reimbursement & Professional Qualification benefits.

Who we are and what we stand for:

At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees. Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance. We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Employment decisions are based on qualifications, merit, and organizational need, and we strive to ensure equitable access to opportunities so everyone can do their best work. At Sompo, we are a global provider of commercial and consumer property, casualty, and specialty insurance and reinsurance. Building on the 137 years of innovation of our parent company, Sompo employs approximately 10,000 people around the world who use their in-depth knowledge and expertise to help simplify and resolve your complex challenges. Because when you choose Sompo, you choose The Ease of Expertise™.