Reinsurance Property Facultative Claims Specialist

Endurance Services Limited • New York City, NY

5d • Onsite

About The Position

Sompo is hiring a Reinsurance Property Facultative Claims Specialist for its North American Reinsurance Claims team. The role handles property facultative and treaty reinsurance claims from initial notification through resolution, assesses coverage, liability, damages, exposures, and reserves, and manages a portfolio primarily focused on property. The specialist monitors claim developments, maintains thorough claim files, interprets reinsurance contract provisions, and supports analysis of loss trends and portfolio performance.

The role involves regular collaboration with cedants, brokers, underwriters, actuaries, finance teams, and other stakeholders. It includes communicating claim strategies and developments, attending claims meetings, providing underwriting feedback, assisting with reporting and data analysis, and supporting cross-functional projects, audits, and process improvements. The specialist is also responsible for compliance with internal procedures and applicable standards, escalation of significant matters, and maintaining audit-ready documentation.

The position is based in the New York City, Purchase, NY, or Morristown, NJ office. Occasional travel may be needed. The salary range is $100,000–$130,000, with actual compensation dependent on factors including location, qualifications, skills, competencies, and experience. Eligible employees may receive base salary and performance incentives, along with a comprehensive U.S. benefits program.

Requirements

• 3–10 years of relevant claims experience, ideally in insurance or reinsurance claims handling.
• Good understanding of insurance and reinsurance contract terms and conditions, including different reinsurance structures and their application to claims.
• Ability to assess liability, damages, exposure, and reserve adequacy using incomplete or evolving information.
• Strong analytical capability and sound judgment in reviewing claims data and claim-related documentation.
• Strong digital literacy and confidence using business software and new technologies.
• Analytical, diligent, and detail-oriented approach to claims assessment and file management.
• Ability to manage multiple priorities effectively and work in a structured and organized manner.
• Strong interpersonal skills and ability to build credibility with internal and external stakeholders.
• Customer-oriented approach and ability to balance technical accuracy with business objectives.
• Collaborative, proactive, and flexible approach.
• Resilience and dependability, with the ability to manage competing demands and work under pressure where required.

Nice To Haves

• Experience in property reinsurance claims handling.
• Relevant professional qualifications or progress toward them.
• Juris Doctor status.
• Familiarity with claims platforms and market systems.

Responsibilities

• Handle assigned property facultative and treaty reinsurance claims from first notification through resolution, ensuring timely and accurate processing in accordance with company procedures and controls.
• Assess loss exposures, including policy and reinsurance contract coverage, liability, damages, and reserve adequacy across the assigned portfolio.
• Manage a portfolio primarily consisting of property claims, with flexibility to assist with other lines of business as needed.
• Monitor loss developments and identify and appropriately escalate significant issues, trends, and exposures.
• Maintain accurate and complete claim file documentation, diary management, and supporting document records.
• Establish and maintain timely and accurate loss reserves and contribute to reserve review discussions.
• Evaluate the quality, completeness, and reliability of claims information provided by cedants, brokers, experts, counsel, and other stakeholders.
• Interpret relevant contract terms and conditions, including coverage structure, retentions, attachment points, limits, exclusions, and aggregates.
• Support analysis of loss trends and claims development for management, actuarial, finance, and underwriting colleagues.
• Build and maintain effective working relationships with brokers, cedants, underwriters, actuaries, finance teams, and other business partners.
• Attend claims meetings with current and prospective cedants and brokers as required.
• Communicate clearly about claims strategy, claim developments, reserve changes, and areas of concern.
• Deliver a high standard of service and build credibility with brokers and cedants as a trusted claims-handling partner.
• Represent Sompo Re at market events and, where appropriate, in professional associations if required.
• Provide underwriting teams with feedback on claims activity, contract wording issues, and emerging portfolio trends.
• Assist with preparing and interpreting claims data, management information, and reporting related to claims development and portfolio performance.
• Support cross-functional initiatives, projects, audits, and process improvement activities.
• Contribute to a collaborative team environment and support other claims colleagues as needed.
• Handle assigned claims in compliance with internal procedures, regulatory requirements, and applicable claims-handling standards.
• Maintain awareness of relevant market practices and jurisdictional considerations for property reinsurance claims.
• Escalate complex, high-value, contentious, or reputationally sensitive matters appropriately.
• Support accurate claims reporting and audit readiness through disciplined file management and documentation.

Benefits

• Two medical plans, including a Traditional PPO and a Consumer Driven Health Plan with a Health Savings Account and competitive employer contribution
• Pharmacy benefits with mail-order options
• Dental benefits, including orthodontia benefits for adults and children
• Vision benefits
• Health Care and Dependent Care Flexible Spending Accounts
• Company-paid Life and AD&D benefits, with optional supplemental life coverage for employees, spouses, and children
• Company-paid disability benefits with salary continuation payments
• 401(k) Retirement Savings Plan with competitive employer contributions
• Competitive paid-time-off programs and company-paid holidays
• Competitive parental leave benefits
• Adoption Assistance program
• Employee Assistance Program
• Tax-Free Commuter Benefit
• Tuition Reimbursement
• Professional Qualification benefits
• Performance incentives for regular, full-time employees

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed