Sr. Claims Specialist - Financial & Professional Lines
About The Position
The Senior Claims Specialist in the Financial and Professional Lines Core team is a critical role in our growing Claims Department, and will be responsible for directing all aspects of file handling on both in-house and third-party administered property claims, with growth opportunity in depth of technical handling and multi-faceted professional development. The Senior Claims Specialist will also direct the adjusting and litigation process, strategically partnering with counsel, experts and vendors, and drive optimal claim resolutions. The Senior Claims Specialist will analyze and determine coverage, manage the claim investigation, evaluate the overall claim, communicate promptly with internal and external stakeholders, and pursue recoveries and risk transfer where warranted in a variety of specialty line claims, including Miscellaneous Professional Liability/E&O, Directors & Officers, Lawyers Professional Liability, Employment Practices Liability, Fiduciary, Crime, Cyber, and Transactional Risk.
Requirements
- Bachelor’s degree; Law degree preferred.
- 7 years plus experience in handling specialty claims.
- Detail-oriented, adaptable, and strategic in decision-making.
- Understanding of technical claims proficiency and execution of best claim practices.
- Ability to work independently, multi-task, and remain self-motivated in a fast-paced environment.
- Strong organizational skills and time management of claims desk.
- Strong business acumen and ability to collaborate with other departments and vendors.
- Customer-service and relationship oriented.
- Innovative, dynamic and growth mindset.
- Good verbal and writing skills for internal and external communication, presentations and reporting.
- Good analytical thinking, advocacy and negotiation skills.
- Willingness to travel for mediations, settlement conferences, and client or account meetings. (25%)
- Maintain valid adjusters’ license(s) in states assigned or an ability to obtain same.
Responsibilities
- Thoroughly investigate and assess claims for coverage, and damages, and pursuit of recoveries and subrogation/contribution opportunities.
- Demonstrate an in-depth understanding of coverage issues, policy forms, contracts, regulatory requirements, and changing legal landscape for specialty line claims.
- Proactively and promptly manage claims, considering all aspects with a strategic vision for optimal claim outcome.
- Continually evaluate claims to set appropriate, timely reserves over the life of the claim to reflect changes in exposure.
- Demonstrate strong technical claims proficiency through consistent execution of best claim practices.
- Strategically coordinate and manage outside counsel and vendors to obtain optimal claim outcome.
- Present high exposure claims to Claims Leadership and Key Stakeholders.
- Collaborate with internal and external business partners for client meetings, product development and improvement, and account audits.
- Look for ways to improve claim efficiencies and outcomes (innovative mindset).
Benefits
- health insurance coverage
- employee wellness program
- life and disability insurance
- 401k match
- retirement savings plan
- paid holidays
- paid time off (PTO)
- Two options for your health insurance plan (PPO or High Deductible).
- Prescription drug coverage (included in your health insurance plan).
- Vision and dental insurance plans.
- basic life insurance equal to 1x annual salary
- AD&D coverage that is equal to 1x annual salary.
- Short and Long Term Disability coverage.
- Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
- Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).
- A robust 401k plan with up to a 5% employer match
- A retirement savings plan that is 100% company funded.
- Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
- Eligibility to receive a yearly bonus as a Munich Re employee.
- A variety of health and wellness programs provided at no cost.
- Paid time off for eligible family care needs.
- Tuition assistance and educational achievement bonuses.
- A corporate matching gifts program that further enhances your charitable donation.
- Paid time off to volunteer in your community.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
