SVP, Chief Claims Officer

Berkley•West Hartford, CT

4d•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 involves managing all claims-related matters, including analysis, reserve development, and execution of claims strategies to optimize loss cost management and customer satisfaction. The position requires collaboration with the Leadership Team on loss trends, coverage, and exposure analysis, as well as overseeing internal claims personnel to ensure high standards of productivity and efficiency. A key aspect of this role is ensuring compliance with all relevant regulations while minimizing organizational risk. The Chief Claims Officer will develop and implement appropriate claims strategies, provide vision and leadership to the Claims organization, and foster a culture of communication, collaboration, and accountability. This includes leading the development and continuous planning of claim metrics, processes, and initiatives, and collaborating with various departments like Underwriting, Actuarial, and Finance to share knowledge on market trends and legal changes. The role also emphasizes leveraging technology and predictive analytics for innovation, understanding and utilizing internal claim best practices, and managing costs within the Claims operation. The Chief Claims Officer will create the Claims annual operational goals, objectives, and budget, and may directly manage first and third-party claims as necessary. Additionally, the role involves supervising and auditing panel counsel, providing updates to brokers and reinsurers, engaging with clients, and supporting new business initiatives through service presentations. Sound litigation management practices, including detailed review of legal bills, are essential. The position requires attendance at mediations, arbitrations, depositions, and trials as needed, and participation in establishing and monitoring corporate Claims goals. Approving settlements and reserve increases, monitoring loss adjustment expenses, and providing regular status reports on large losses to the President are also key responsibilities. The role requires staying abreast of industry developments and legislative/regulatory changes, and performing other duties as assigned by the President.

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