Head of Financial Lines Technical Claims
About The Position
The North America Head of Financial Lines Technical Claims provides technical oversight of Financial Lines Claims in North America and drives claims technical excellence as a subject matter expert. The role collaborates with senior claims, underwriting, actuarial, legal and compliance leaders to develop and manage strategic objectives and policies. It sets the strategic approach to resolving complex and severe claims, identifies claim and coverage trends, promotes consistency by product, partners with underwriting on trends and exposures, and works with actuarial on claims exposure assessment and reserving. The position oversees complex, high-severity claims across D&O, E&O/MPL, Fiduciary, Fidelity, Financial Institutions and Employment Practices Liability products. It supports consistent claims practices, thought leadership, best practices, lessons learned and technical training across North America. The role monitors and escalates complex coverage issues and high-profile matters, and may directly participate in high-severity or high-profile claims and settlement negotiations at the direction of senior claims management. The role also assists the Head of Financial Lines Claims with implementing strategic claim objectives and policies; identifies and reports claims trends and legal developments; oversees systemic and quasi-systemic claim issues; develops and delivers technical claims training; establishes a lessons-learned capability; and communicates and educates stakeholders about existing or developing coverage issues.
Requirements
- Extensive knowledge in several diverse disciplines or recognized professional fields, including commercial insurance policy coverage, controlling laws and litigation management governance and control.
- Comprehensive understanding of critical issues in related areas.
- Advanced communication skills for building consensus across areas of influence, teams and matrix environments.
- Superior leadership and management skills, demonstrating integrity and professionalism.
- Proven ability to drive results by identifying and resolving significant problems within scope of responsibility.
- Extensive knowledge of the insurance industry, its products and services.
- 15+ years of related work experience with commercial or Risk Management claims, including technical claim handling, coverage interpretation and claim/litigation.
Nice To Haves
- Master’s Degree or JD preferred.
Responsibilities
- Provide technical oversight of Financial Lines Claims in North America and drive claims technical excellence.
- Set the strategic vision and approach for resolving complex and high-severity Financial Lines claims.
- Oversee complex, high-severity claims across D&O, E&O/MPL, Fiduciary, Fidelity, Financial Institutions and Employment Practices Liability products.
- Promote claims consistency, thought leadership, best practices, lessons learned and technical training across North America.
- Monitor and escalate high-severity matters, complex coverage issues, and claims involving high-profile insureds, events or significant impact for guidance, direction or authority.
- Participate in the highest-severity or high-profile claims, including negotiating settlements with insureds and claimants when directed by senior claims management.
- Assist the Head of Financial Lines Claims with managing and implementing strategic claim objectives and policies in accordance with company strategic plans.
- Identify, analyze and report claims trends and legal developments, including regular line-of-business reporting for senior claims management and internal business partners.
- Coordinate with IT and claims data functions to ensure necessary and correct data views.
- Oversee systemic and quasi-systemic claim issues that cross lines of business and provide periodic exposure reports and updates to senior claims, actuarial and underwriting management.
- Review, develop and deliver technical claims training content.
- Develop a formalized lessons-learned capability for Financial Lines and communicate claim insights consistently with Underwriting and Actuarial stakeholders.
- Communicate, educate and train stakeholders regarding existing or developing coverage issues to support accurate and consistent positions and approaches.
- Partner with underwriting on trends and exposures and with actuarial on consistent claims exposure assessment and reserving.
Benefits
- Competitive benefits through AIG’s Total Rewards Program, focused on health, wellbeing, financial security and professional development.
- Bonus eligibility in accordance with the terms of the applicable incentive plan for positions based in New York.
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What This Job Offers
Job Type
Full-time
Career Level
Executive
