Senior Manager, Ceded Reinsurance Claim

Travelers • Hartford, CT

4d • Onsite

About The Position

Taking care of our customers, our communities and each other. That’s the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 170 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it. Are you ready to join a world class organization handling Ceded Reinsurance Claims? Travelers Ceded Reinsurance team is critical to managing risk and ensuring enterprise growth. If you have experience with long-tail claims in the legacy/runoff space and have a passion for research and analysis, this may be a great opportunity for you. As a Senior Manager in the Ceded Reinsurance Claim Operations department you will provide specific technical expertise on complex reinsurance claims as well as review, analyze and process reinsurance claims. In this role, you will be a valued team contributor helping Travelers and its various business groups meet important financial goals that directly impact the bottom line.

Requirements

• Bachelor's degree required; in lieu of degree, a minimum of 6 years of related insurance /reinsurance experience.
• Have the ability to travel to meetings with external clients.
• Working knowledge of Word and Excel Skills required/Microsoft suite.

Nice To Haves

• Intent to begin coursework toward professional designation (ARe, CPCU) within 18 months of hire.
• Strong understanding of insurance/reinsurance concepts and relevant issues, particularly as respects the assigned line(s) of business required; thorough understanding of Travelers reinsurance program for assigned line(s) of business.
• Demonstrated ability to work independently and in a team environment.
• Developing management skills.
• Strong analytical, problem resolution, and developing negotiations skills with the ability to respond quickly and influence changing priorities.
• Demonstrated ability to respond quickly to changing priorities.
• Excellent organizational and time management skills.
• Intermediate to advanced verbal, written, presentation, and interpersonal skills with the ability to develop and maintain effective working relationships with internal and external partners.
• Intermediate knowledge of Word and Excel Skills/Microsoft Suite.

Responsibilities

• Identify, review and confirm reinsurance coverage for losses, specifically complex claims such as asbestos, environmental (hazardous waste, pollution) and other cumulative injury (eg. abuse, CTE).
• Calculate, analyze and record proper financial results and all losses within company guidelines and issue timely notices, updates including litigation updates, and billings for losses covered under our reinsurance contracts.
• Consult with internal and external partners to collect reinsurance receivables, independently resolve reinsurer complex questions, and present solutions and work with manager and attorneys to resolve complex reinsurer disputes.
• Participate in and lead various Ceded Reinsurance /Company projects and initiatives (ex: supporting commutations, insolvency analysis and reinsurer audits, etc.)
• Maintain frequent business unit, broker, and reinsurer contact to communicate service standards and highlight efforts to meet business unit needs and foster long-term relationships.
• Routinely attend and coordinate reinsurer and broker meetings to address assigned claims/issues. Establish agenda to ensure productive meetings. Ensure follow-up items from meetings are addressed.
• May serve as a reinsurer audit coordinator, including planning and implementing.
• Train new team members and/or provide mentoring to less experienced staff.
• Conduct quality assurance audits.
• Make recommendations to manager on system, procedure and/or workflow enhancements to improve the effectiveness and efficiency of operation.
• Assist in implementation of system improvements
• May be an individual contributor; but likely manages Analysts, Consultants/Sr Consultants, LDPs, and/or interns. Responsibilities may include supporting all of the above Ceded Claim job functions with a heavier emphasis on supporting claim operations activities including, but not to limited to, serving as department Local Security Officer (LSO) to address access requirements to claim applications; providing technology support for reinsurance audits; establishing contract rules into reinsurance contract systems; and serving as a lead participant for departmental initiatives meant to enhance and/or streamline reports, controls and workflows.
• Perform other duties as assigned.

Benefits

• Health Insurance: Employees and their eligible family members – including spouses, domestic partners, and children – are eligible for coverage from the first day of employment.
• Retirement: Travelers matches your 401(k) contributions dollar-for-dollar up to your first 5% of eligible pay, subject to an annual maximum. If you have student loan debt, you can enroll in the Paying it Forward Savings Program. When you make a payment toward your student loan, Travelers will make an annual contribution into your 401(k) account. You are also eligible for a Pension Plan that is 100% funded by Travelers.
• Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off annually, plus nine paid company Holidays.
• Wellness Program: The Travelers wellness program is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs. In addition, our mental health program provides access to free professional counseling services, health coaching and other resources to support your daily life needs.
• Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior