SVP, Chief Claims Officer

Berkley•West Hartford, CT

2d•Onsite

About The Position

The Senior Vice President, Chief Claims Officer provides strategic direction and leadership for the claims function and is responsible for helping develop and execute strategic plans that support the organization’s business objectives. This role manages all claims-related matters, including analysis, reserve development, and execution of claims strategies to optimize loss cost management and customer satisfaction. The position collaborates with the Leadership Team on loss trends, coverage, and exposure analysis for new and existing business. It also oversees internal claims personnel to ensure high standards of productivity and efficiency, and ensures compliance with all relevant regulations while minimizing organizational risk. The Chief Claims Officer develops and implements appropriate claims strategies, provides vision and leadership to the Claims organization, and cultivates a culture of communication, collaboration, and accountability. This role leads the development, implementation, and continuous planning of all claim metrics, processes, results, and initiatives. Collaboration with Underwriting, Actuarial, Finance, and other stakeholders is crucial for knowledge sharing on market trends, legal changes, and loss developments. The position leverages resources, technology, and processes to drive innovation through predictive analytics and utilizes internal claim best practices for consistent performance, compliance, and achievement of business goals. The role works with the Leadership Team on cost containment strategies for the Claims operation, creates the Claims annual operational goals, objectives, and budget, and directly manages first and third-party claims as necessary. It supervises, audits, and analyzes the effectiveness of panel counsel, providing recommendations to the President. Regular Claims updates are provided to brokers and reinsurers, and the role engages with clients to understand their needs. Support for new business initiatives and marketing efforts is provided through service presentations. Sound litigation management practices are ensured, including detailed review of legal bills. Attendance at mediations, arbitrations, depositions, and trials may be required. The position participates in establishing, implementing, monitoring, and reporting on corporate Claims goals, approves settlement and reserve increases, and monitors loss adjustment expenses. Regular status reports on large losses are provided to the President, and the individual stays abreast of industry developments and legislative/regulatory changes. Other duties and projects as assigned by the President will also be performed.

Requirements

10+ years of strategic leadership experience with responsibility for managing a claims operation
15 years of general claims experience with in-depth knowledge of industry best practices for adjudicating commercial property and casualty claims, ideally with expertise in general liability and product recall claims
Strong written and verbal communication, negotiation and interpersonal skills
Advanced analytical and problem-solving skills, with the ability to multi-task and independently prioritize competing demands and requests within given time constraints
Ability to exercise independent judgment, effectively make sound business decisions and resolve unique and challenging business problems
Demonstrated ability in the use of metrics and data to drive and assure continuous improvement and increased efficiencies
Strategic leadership
Claims management
Reserve management
Loss cost management
Predictive analytics
Litigation management
Budget management
Client relationship management
Data analysis and reporting
Cross-functional collaboration
Regulatory compliance
Operational planning
Communication and negotiation
Process improvement

Nice To Haves

Advanced degree preferred
Juris Doctor strongly preferred

Responsibilities

Manage all claims-related matters as well as the analysis, reserve development and execution of claims strategies to deliver optimal loss cost management and customer satisfaction in support of overall business objectives and in accordance with performance standards
Collaborate with the Leadership Team in loss trend, coverage and exposure analysis for existing and new business opportunities
Oversee internal claims personnel to manage and achieve high standards of productivity, efficiency and alignment of organizational goals
Ensure compliance with all local, federal and state regulations related to claims while minimizing risk/exposure to the organization
Develop and implement appropriate claims strategy in conjunction with the President
Provide vision and leadership to the Claims organization, while cultivating a culture that excels in communication, collaboration and accountability
Lead the development, implementation and continuous planning of all claim metrics, processes, results and initiatives
Collaborate with Underwriting, Actuarial, Finance and other stakeholders to ensure knowledge sharing on market trends, legal changes and loss developments
Leverage resources, technology and processes to drive innovation through the use of predictive analytics
Understand and utilize internal claim best practices for proper and consistent claim performance, compliance and achievement of business goals
Work with the Leadership Team on cost containment strategies including allocated and unallocated expenses within the Claims operation
Create the Claims annual operational goals, objectives and budget
Directly manage first and third-party claims, as necessary
Supervise, audit and analyze the effectiveness of panel counsel to assure compliance with agreed upon metrics and recommend changes to the President, where necessary
Provide regular Claims updates to brokers and reinsurers, as necessary
Engage with clients to continually refine the company’s understanding of client needs and requirements
Support new business initiatives and marketing efforts through service presentations to insureds, brokers and accounts in conjunction with Underwriting and Loss Control, as necessary
Ensure sound litigation management practices, including detailed review of legal bills using appropriate tools
Attend mediations, arbitrations, depositions and trials, as necessary
Participate in establishing, implementing, monitoring and reporting on corporate Claims goals
Approve settlement and reserve increases for claims
Monitor loss adjustment expenses to ensure efficient utilization of outside services, including use of independent adjusters or attorney involvement
Provide the President with regular status reports on large losses
Keep abreast of industry developments and monitor legislative and regulatory changes
Perform other duties and projects as assigned by the President