Address
Form of workClaims Specialist Sr
We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.
The Company
Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.
Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.
The Opportunity
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 to direct 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 partner 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 EPL, E&O, D&O, cyber, malpractice, PL, transactional, fiduciary, and crime.
Responsibilities:
• Thoroughly investigate and assess claims for coverage, and damages, and pursuit of recoveries and subrogation/contribution opportunities.
• 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).
Job Requirements:
At Munich Re, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.
The Company
Munich Re Specialty Insurance (MRSI) provides extensive, specialty property and casualty insurance solutions to customers through select brokers, Managing General Agents, program administrators, cover holders and insurtech partners. Products include: property, casualty, professional liability and other specialty insurance solutions. Our comprehensive, customized solutions are provided by A+ rated carriers and are tailored to clients' needs. We offer superior service levels, industry-recognized underwriting and claims expertise and innovative approaches to complex and evolving risks.
Munich Re Specialty Insurance (MRSI) is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services in North America. For more information on MRSI, including licensing, regulatory-required, and other information on the operating companies, visit https://www.munichre.com/us-non-life/en/general/munich-re-specialty-insurance-disclosures.html.
The Opportunity
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 to direct 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 partner 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 EPL, E&O, D&O, cyber, malpractice, PL, transactional, fiduciary, and crime.
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).
Job Requirements:
- Bachelor's degree required.
- 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.
At Munich Re, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
