Environmental Claims Manager
Company: Beazley Group
Location: New York
Posted on: October 16, 2024
Job Description:
General
Job Title: Claims Manager Division: Group Claims Reports To: As per
Beazley's organisation chart Key Relationships: Claims staff,
underwriters, insureds, brokers and service providers Job Summary:
To help achieve the Beazley vision of being the highest performing
specialist insurer. This will be done through the proactive
management of claims, at the individual and portfolio level, to
optimise spend and achieve high levels of satisfaction for the
insured and broker through high quality claim management,
resolution and excellent client service. Individual Claims
Leadership
- Manage individual claims on a proactive basis from notification
to closure, investing the necessary level of involvement required
for each claim depending on the nature, category, maturity,
type,
and quantum of the claim.
- Manage portfolio of Category 2 and some Category 1 claims
(i.e., claims with an expected or actual value in excess of
$250,000) including (depending on training and agreement of the
Head
of) Coverage Litigation but without allegations of bad faith.
- Adhere at all times to Beazley's Claims Reserving Philosophy
and Standards.
- Develop, iterate, document, and execute claims strategies
taking into account uncertainties, key decisions, potential
outcomes, and estimated associated costs.
- Understand and implement Beazley's Conduct Risk Policy. Claims
Portfolio ManagementManage a claims portfolio to optimise
performance including the:
- Review of individual claims within the portfolio on a regular
basis and ensuring reserves and claims records are maintained in a
timely manner as required by Beazley's claims controls
and standards.
- Identification of issues and trends in the portfolio, consult
management/peers if required, and take appropriate and/or
corrective action.
- Communication of any material claims to Reinsurance and Finance
as set out by the applicable claims authority, claims protocols,
and procedures.
- Working with Reinsurance to effect claims recoveries.Strategy
and Business Planning
- Maintain an awareness of the overall strategic objectives and
business plans of the Beazley claims function to the degree
required to identify gaps or future opportunities to Claims
Management.Working with Underwriters
- Develop an understanding of marketing and underwriting
strategies for the respective business area.
- Contribute to business development and renewal opportunities
through attending client meetings to provide inputs regarding the
Beazley claims philosophy and claims handling approach.
Provide inputs to client meetings regarding specific claims
issues.
- Provide input to underwriters on review of potential or
existing insured's claims experience.
- Identify claims trends and developments and communicate their
potential impact on the book.
- Identify wordings issues and suggest policy wording
improvements. Authority & Minimum Standards Observance
- Operate within approved claims authorities at all times.
- Maintain a thorough knowledge of industry regulations and
minimum standards.
- Ensure compliance with the regulations and Beazley's claims
control standards and protocols. Third Party Management
- Adhere to Beazley's procedures for the selection and retention
of 3rd party professionals and manage relationships to the benefit
of Beazley.
- Hold overall ownership and accountability for delegated
relationships as needed including appropriately managing escalation
of items from delegated partners.
- Review TPA performance data consistency with claims service
requirements, claims best practices, and financial goals on a
periodic basis.
- Conduct file reviews or audits as required, and resolve any
issues identified.
- Provide feedback on a regular and proactive basis regarding the
claim actions undertaken by the Third-Party Administrator
(TPA).
- Propose strategies for future claims handling, review case
reserve adequacy, and ensure the TPA remains focused on claim
finalisation.Broker and Insured Relations
- Work proactively to develop and manage strong relations with
key brokers and insureds.
- Promote the Beazley brand of excellence and professionalism in
client service.Operational
- Ensure the management of claims conforms to the agreed
standardised processes and use of share service functions as
appropriate.
- Contribute to the commitment to, and active development of a
continuous improvement culture within the overall claims
function.
- Support the Claims Business Management Team and Claims
Solutions Team to identify and implement business performance
improvement opportunities.
- Development and Mentoring of Junior Staff
- Assist claims management and peers to develop, mentor and
empower junior staff.
- Ensure junior staff in the business unit have the knowledge and
skills necessary to perform effectively in their given roles and
responsibilities and increase their versatility for the broader
Beazley business.
- Serve as a positive role model for junior staff.Conflicts of
Interest
- Adhere to Beazley's Conflicts of Interest policy, alert the
appropriate person to any potential conflicts of interest, and take
steps to resolve them promptly.
- Immediately advise your Head of or Group Head of Claims if any
Beazley employee seeks to exert undue influence on you or any other
team member to act improperly in the management, reserving, or
settlement of any claim.General
Leverage networking opportunities
within the business to develop standardised underwriting policy and
best practice within Beazley.Develop best practice and disseminate
business and class knowledge within the Environmental, PEMA and
Specialty Risks teams.Work with peers within Environmental, PEMA
and Specialty Risks to maximise business opportunities and
profitability within the department. This will include but not be
limited to sharing market information, marketing sources and cross
selling opportunities.Share and gather knowledge within the Beazley
Group to ensure dissemination of best practice and maximise
business opportunities and profitability across the
Group.Production of presentations and marketing literature as
required.Production of business plans/research documents for the
Environmental account as required. It is important that within all
your interactions both internally and externally you adhere to
Beazley's core values - Being Bold, Striving for Better, and Doing
the Right Thing - as they contribute to an internal environment of
teamwork and promote a positive brand image and experience to our
external customers. We also expect Beazley employees to:
Comply with Beazley procedures,
policies and regulations including the code of conduct, which
incorporates the PRA and FCA Conduct. Undertake training on Beazley
policies and procedures as delivered by your line manager, the
Culture & People or assurance teams (compliance, risk, internal
audit) either directly, via e-learning or the learning management
system. Display business ethics that uphold the interests of all
our customers.Ensure all interactions with customers are focused on
delivering a fair outcome, including having the right products for
their needs.Comply with any specific responsibilities necessary for
your role as outlined by your line manager, the Culture & People or
assurance teams (compliance, risk, internal audit) and ensure you
keep up to date with developments in these areas. This may include,
amongst others, Beazley's underwriting control standards, Beazley's
claims control standards, other Beazley standards and customer
relationship management.Carry out additional responsibilities as
individually notified, either through your objectives or through
the learning management system. These may include membership of any
Beazley committees or working groups. Education and Qualifications
- Graduate Calibre
- Adjuster license(s) may be required as part of your job
responsibilities. If required, those licenses must be obtained
within the first 90 days of your employment and in accordance with
an individual licensing plan established by Beazley Compliance and
your Manager. Skills and Abilities
- Analytical skills: Problem solving (broad-based, analytical,
conceptual, creativity), Analysis of financial statements,
Financial assessments of claims, Data analysis,
Decision-making
- Work management skills: Time and workload management,
Self-starter, Planning, Achievement orientation, Productivity
focus
- Interpersonal skills: Ability to influence others, Client and
broker management skills, Purposeful communication, Flexibility,
Active listening Knowledge and Experience
- Legal training or past claims experience establishing liability
and/or settlement resolutions.
- Functional knowledge & understanding: Claims management
process, US/RoW Insurance market (general & focus group), US/RoW
legal and regulatory environment, Alternative resolution approaches
Aptitude and Disposition
- Outcome focussed, self-motivated, flexible and
enthusiastic
- Professional approach to successfully interact with senior
management/ colleagues/ external suppliers
- Diplomatic Competencies
- Problem-solving
- Decisiveness
- Customer-focused
- Influencing others
- Attention to detail
- Team work
- Self-starter
- Analytical thinking
- Managing resources effectively
- Technical competency and expertise The rewards:
- The opportunity to connect and build long-lasting professional
relationships while advancing your career with a growing, dynamic
organization
- Attractive base compensation and discretionary performance
related annual bonus
- Competitively priced medical, dental and vision insurance
- Company paid life, and short- and long-term disability
insurance
- 401(k) plan with 5% company match and immediate vesting
- 22 days annual PTO (full-time, prorated for 1st calendar year
of employment), plus paid public holidays with the ability to flex
the religious bank holidays to suit your religious beliefs.
Additional PTO purchase is available up to a maximum of 5 days per
calendar year.
- Up to $700 reimbursement towards home office setup
- Free in-office lunch, travel reimbursement for travel to
office, and monthly lifestyle allowance in support of your
wellbeing
- The opportunity to save for, and purchase, shares of Beazley
stock
- Six months fully paid parental leave, regardless of how you
come to parenthood
- Company paid sabbatical up to 12 weeks after 10 years of
continued service
- Support with exam/study leave and fees for relevant
qualifications related to furthering education
- Up to 2.5 days matched paid leave for volunteering at a charity
of your choice and 5 days paid leave to provide or arrange care for
a dependent with a long term care need annually
- Smart working policy and flexible working culture, trusting our
employees to do what works best for them, their role and the needs
of the business Salary for this role will be tailored to the
successful individual's location and experience. The expected
compensation range for this position is 120k - 143k per year plus
discretionary annual bonus. You will be able to discuss your salary
expectations should you be contacted about this role.
Responsibilities
Individual Claims Leadership
- Proactively manage individual claims from notification to
closure, investing the necessary level of involvement required for
each claim depending on, inter alia, the nature, category,
maturity, type and quantum of the claim.
- Follow at all times Beazley's Claims Reserving Philosophy and
Claims Standards.
- Develop, iterate, document and execute claims strategies taking
into account uncertainties, key decisions, potential outcomes and
estimated associated costs.
- Understand and implement Beazley's "Treating Customers Fairly"
policy. Claims Portfolio Management Manage claims portfolio(s) to
optimise performance including:
- Regularly review individual claims within the portfolio and
keep reserves and records up to date as required by Beazley's
claims controls and standards.
- Identify issues and trends in the portfolio and take
appropriate and/or corrective action.
- Keep Reinsurance and Finance advised of any material claims as
set out in your claims authority and claims protocols and
procedures and work with Reinsurance to effect recoveries. Working
with Underwriters
- Develop an understanding of marketing and underwriting
strategies for your business area and contribute to business
development and renewal opportunities by attending client meetings
to explain the Beazley claims philosophy and approach to claims
handling, and discussing any claims issues.
- Provide input to underwriters on review of potential or
existing insured's claims experience.
- Feedback claims trends and developments and their potential
impact on the book.
- Suggest wordings improvements. Authority & Minimum Standards
Observance
- Operate within your approved claims authority at all
times.
- Have thorough knowledge of industry regulations and minimum
standards to ensure compliance with the regulations and Beazley's
claims and underwriting control standards and protocols. Third
party Management
- Follow Beazley's procedures for the selection and retention of
3rd party professionals and manage these relationships to the
benefit of Beazley.
- Where required conduct file reviews or audits and resolve any
issues identified.Broker and Insured Relations
- Work proactively to develop and manage strong relations with
key brokers and insureds.
- Promote the Beazley brand of excellence and professionalism in
client service. Conflicts of Interest
- Adhere to Beazley's Conflicts of Interest policy, alert the
appropriate person to any potential conflicts of interest and take
steps to resolve them promptly.
- Immediately advise your Claims Team leader or Group Head of
Claims if any Beazley employee seeks to exert undue influence on
you or any other team member to act improperly in the management,
reserving or settlement of any claim.
Person Specifications
Skills and Abilities
- Analytical skills: Problem solving (broad-based, analytical,
conceptual, creativity), Analysis of financial statements,
Financial assessments of claims, Data analysis,
Decision-making
- Work management skills: Time and workload management,
Self-starter, Planning, Achievement orientation, Productivity
focus
- Interpersonal skills: Ability to influence others, Client and
broker management skills, Purposeful communication, Flexibility,
Active listening Knowledge and Experience
- Functional knowledge & understanding: Claims management
process, US/RoW Insurance market (general & focus group), US legal
and regulatory environment, Alternative resolution approaches
Aptitude and Disposition
- Outcome focussed, self-motivated, flexible and
enthusiastic
- Professional approach to successfully interact with senior
management/ colleagues/ external suppliers
- Diplomatic Competencies
- Problem-solving
- Decisiveness
- Customer-focused
- Influencing others
- Attention to detail
- Team work
- Self-starter
- Analytical thinking
- Managing resources effectively
- Technical competency and expertise
Keywords: Beazley Group, New Haven , Environmental Claims Manager, Executive , New York, Connecticut
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