Senior Claims Adjuster - 12 Month FTC

at  Munich Re

LOCATION

London , United Kingdom
About Great Lakes Insurance SE:
As specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.
Great Lakes Insurance UK Limited (“GLLS”), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.
About the role: To manage and oversee a portfolio of Motor Treaty (Xol) through London Market Systems in adherence with the mission statement, guidelines and operating standards of the Company.
Key Responsibilities:
Ø Build and maintain relationships with all Treaty partners and MGA’s/TPA’s providing oversite and monitoring of claims performance to minimise indemnity spend.
Ø Lead monthly claims performance meetings internally with claims and underwriters as well as externally with clients.
Ø Check and adjust case reserves and ensure adequate provision is made for outstanding liabilities
Ø Identify and analyse legal, political and market developments. Report those developments and their potential impact on the business to relevant stakeholders
Ø Maintain relationships with Client Managers, Underwriters and stakeholders providing feedback as appropriate
Ø Provide technical and operational support to the Claims Manager
General Duties & Tasks:
Ø Monitor and handle Motor Treaty and where required MGA/TPA referral claims in line with set authorities, operating standards and procedures, whilst promoting excellence at all times.
Ø On insurance business investigate and negotiate settlement of claims, partnering with any co-insurers and experts and providing direction.
Ø Assess and calculate case reserves.
Ø Assess inflationary factors and trends to assist the underwriting and pricing of business. Co-ordinate data collection and ensure delivery within agreed timeframe.
Ø Provide underwriters with feedback on insurer and insurance clients to support underwriting and pricing of business by identifying relevant issues and trends.
Ø Work with the team to prioritise and allocate resources to meet the operating standards as far as possible Assist Claims Manager in prioritising and organising strategic and project work. Monitor timescales for delivery
Plus any additional responsibilities that may reasonably be expected to be undertaken following the role.
Competencies:
Drives results (we think big) – you achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You to keep things moving, using analysis, experience and judgement.
Business insight (we think big) – you can apply your knowledge of the business and the market to improve your business’ and wider organisation’s goals.
Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.
Client focus (we grow with our clients) – you build client relationships (internal and external), listening to their needs and working with them to ensure value is created.
Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.
Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.
Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.
Experience:
Essential
Ø Experience Motor Large Losses £1+
Qualifications and Educational Requirements:
Ø Ideally educated to degree level or equivalent
Thought Leaders:
You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.
You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.
You will treat your colleagues and sales and business partners fairly and with respect.
Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, the role/function will also become responsible for:

• Understanding the responsibilities and adhering to the requirements of undertaking a regulated role under the Senior Manager and Certification Regime
• Ensure compliance with Insurance Distribution Directive
• Satisfying all regulatory reporting requirements in collaboration with the reporting function
• Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
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.
Apply now!

• Understanding the responsibilities and adhering to the requirements of undertaking a regulated role under the Senior Manager and Certification Regime
• Ensure compliance with Insurance Distribution Directive
• Satisfying all regulatory reporting requirements in collaboration with the reporting function
• Liaising with all relevant regulatory bodies in the UK, creating a highly credible reputation and strong, collaborative relationship
• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rule