Senior Claims Manager, AVP – Professional Indemnity and Financial Lines

5 days ago

London, Greater London, United Kingdom SPE Travelers Management, LTD Full time
About the Role

We are seeking a highly experienced and skilled Senior Claims Manager, AVP to lead our Financial and Professional Lines Complex Claims Team at SPE Travelers Management, LTD.

Key Responsibilities
  • Oversee a team of 6 Senior Claim Professionals led by a Team Manager.
  • Develop, communicate, and execute claim philosophy and strategic initiatives for a market/product segment or region based on the goals of the organization.
  • Contribute guidance and make decisions on claims where the exposure is open-ended or exceeds the authority limits of employees within the organization.
  • Work with the Technical Director to manage significant litigation that has the potential for high exposure and visibility.
  • Oversee and evaluate national trends, perform historical reviews on large claims, and collaborate with underwriting and actuarial in portfolio analysis for the market segment or individual products.
  • Prepare and present reports for management that accurately reflect loss development, potential/actual financial exposure, reserve adjustments, coverage issues, and claim recovery strategies.
  • Collaborate with the Technical Director and team to ensure that senior management, underwriters and actuaries are appraised of high-exposure/high-sensitivity losses, claim trends, legal decisions, and issues which may impact the product lines underwriting philosophy and overall industry.
  • Provide insight into the review and approval of all Large Loss Memos, Quarterly Claim Reports, and other senior management reports for Claim Business Unit or Product/Regional team.
  • Establish standards and policies for business line to ensure rigorous management of ALAE & ULAE.
  • Act as the lead liaison between BSI claim and business partners on all new business propositions.
  • Lead support for the BSI claim team on all new MGA partnerships acting as BSI Product SME working closely with other claim partners to ensure a smooth onboarding process.
  • Lead support to aspects of underwriting relating to indemnity, risk management, collateral, restructuring/unwinding of high risk account(s), bankruptcy matters/run-off coverages, new account(s) and business initiatives, as applicable to the Business Unit.
  • Act as the industry expert by identifying and advising management on legal and regulatory issues that have the potential to impact the industry.
  • Collaborate to represent Travelers on sensitive claim matters that involve multiple constituencies or have the potential to gain high visibility inside or outside the company.
  • Contribute to the selection of panel counsel in conjunction with Claim Legal to ensure that claims are proactively managed consistent with our claim philosophy to ensure that we are obtaining the best financial results for Bond & Specialty Insurance.
Legal Support Responsibilities
  • Legal responsibilities include reviewing and analysing bond forms, providing legal advice and risk analysis to Underwriting, and drafting and negotiating indemnity agreements and riders (Surety).
  • Provide oversight and direction for high quality, cost-effective legal support to our business partners by ensuring proper staffing, skill and performance levels of legal team and through mentoring and coaching lawyers on issues presented.
  • Review complex transactional documents and provide legal advice and risk analysis to business partners.
  • Provide legal advice on litigation strategies on all litigation in collaboration with our Claim Legal team.
  • Work with the Technical Claim Manager to provide legal advice on litigated strategies in collaboration with our claim legal team.
  • Maintain current knowledge of relevant legal issues and trends in the surety/ management liability market place through review of legal publications and attendance at industry events.
Strategic Planning/Operations Management Responsibilities
  • Set the tone for BSI Claim with regards to collaboration with Underwriting within designated Claim Business Unit or Product/Regional team.
  • Provide oversight and direction for claim handling by ensuring the staffing, skill, and performance levels of employees support the claim volume and severity of claims to be managed.
Team Leadership Responsibilities
  • Prepare effective performance and development plans for all direct reports, make team promotion and authority level recommendations to VP Claim Europe.
  • Develop a culture of continuous learning through training, mentoring, and outside courses.
  • Perform other duties as assigned.

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