Claims Handler, Professional Lines

at  IQUW

ABOUT US

IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.

ESSENTIAL QUALIFICATIONS, SKILLS AND EXPERIENCE

• Experience in commercial / specialty insurance within the Lloyd’s and/or London Market.
• Experience in managing lawyers, loss adjusters and other significant third-party service providers in relevant markets.
• Knowledge of legal systems, with experience in US and Australian claims handling being useful.
• Experience in market meetings with insurers/reinsurers and service providers, and a willingness to engage in client and broker engagement.
• Demonstrating growth of a peer network with brokers, other insurers and service providers.
• Ability to develop and maintain relationships with both internal and external customers.
• Ability to prioritise and organise workload and meet deadlines.

THE ROLE

IQUW’s Professional Lines Division underwrites directors’ and officers’ liability insurance for public companies and various coverages for private and public financial institutions, including professional indemnity, D&O, and crime. Within these classes of business IQUW seeks and holds an excellent track record in leading policies at primary and low excess attachments. The Claims Handler will be responsible for day-to-day management of claims, both on a lead and follow basis. The Claims Handler will also be expected to provide some claims support to the Specialty Division, which includes Cyber, Crisis Management, Political Risk, Political Violence, Terrorism and War. IQUW expects the candidate to provide a high standard of service within a designated authority and in accordance with internal guidelines, market practices and relevant legal requirements.
The ideal candidate will already have experience and technical competence within the Lloyd’s and/or London Market, handling direct or reinsurance claims with an insurer, broker or claims-service provider. Such experience should include claims-file management skills together with excellent working knowledge of market systems and processes. IQUW’s Claims Team holds itself to outstanding levels of customer service, both to internal and external stakeholders.

KEY RESPONSIBILITIES

• Adjust, assess and manage assigned claims within a defined authority, including the identifying and triaging of claims’ potential severity. Ensure coverage is accurately reviewed and that reserving is correctly set and maintained throughout a claim’s life cycle.
• Ensure that claims are always handled proactively, with an organised approach to diary management, in accordance with IQUW’s Claims Management Guidelines, Lloyd’s standards and all regulatory and statutory requirements.
• Define file strategies and negotiate settlements in accordance with policy terms and conditions.
• Report on large losses expediently, both internally and to defined external stakeholders, including auditors and reinsurers.
• Attend market claims meetings and represent IQUW’s values when liaising with and working with brokers, policyholders, service providers and other external stakeholders.
• Support and collaborate closely with Professional Lines Underwriters, including attendance at regular team meetings, provision of claims-related information, support with policy wordings and endorsements, and attendance at pre-inception/renewal/claims review meetings.
• Travel domestically or internationally, as required.
• Provide assistance to and collaborate with pricing and reserving actuaries, management information team, outwards reinsurance team, finance, and other internal stakeholders.
• Assist with reviews of vendor panels, claims audits and service-provider audits, and legal and/or claims studies.