Senior Claims Adjuster

This job is with Munich Re, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Together, we engage with everything we have and are, to help humankind act braver and better.

About Great Lakes Insurance SE:

As specialty provider of primary insurance services in the UK, Great Lakes London Branch (“GLLB”) is a substantial part of Great Lakes Insurance SE in Munich.

Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich,

and via branch offices in UK, Ireland, Switzerland, Italy and Australia.

Great Lakes Insurance UK Limited (“GLLS”), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.

About the role:

As part of the Claims Team your role will be responsible to manage claims in adherence with the policy statement, guidelines and operating standards of the Company and to be responsible for the operational and technical supervision of the Great Lakes claims team.

As a member of the overall Munich Re Claims community, you will actively assist in implementing the Future Global Claims set-up and advance the Munich Re Claims Ambition 2025.

Key Responsibilities:

• Verify and settle claims
• Investigate and negotiate claims as required
• Positively influence the handling and settlement of claims by Primary insurance company clients and on Reinsurance cases
• Check case reserves and ensure adequate provision is made for outstanding liabilities
• Build and maintain relationships with brokers, cedants and clients
• Conduct client visits, audit and due diligence where required
• Identify and analyse legal, political and market developments.
• Report those developments and their potential impact on the business to relevant stakeholders
• Provide feedback to underwriters from a claims perspective
• Implement a claims management strategy for your team, which is in line with and supports the Munich Re Global Claims Ambition 2025
• Build and maintain reputation as technical experts and market leaders on claims related issues
• Provide technical and operational support to the Deputy Claims Manager
• Where the loss affects the Reinsurance arrangement liaise with Munich Re in line with the contractual claims related issues
• Provide an update to the Deputy Claims Manager on a regular basis of all material developments and assist in the production of the Reports for Claims Management.

Competencies:

Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.
Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.
Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.
Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.
Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.
Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.
Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

Key Skills & Experience:

Essential:

• Proven experience in both direct and reinsurance business controlling medium – high value claims
• A high level of technical expertise
• Experience of technical referral.
• Able to analyse and set reserves
• Able to manage and organise a caseload of work independently
• Can work effectively as a member of a team and provide support to colleagues
• Able to build and maintain professional relationships
• Able to contribute to discussions on strategy and developing issues
• Ability to motivate and direct a team to meet targets
• Proficient knowledge of MR claims guidelines processes and operating standards
• Microsoft Office

Desirable:

• Experience of operational management
• Knowledge of regulatory requirements
• Languages

General Duties and Tasks

• Handle claims in line with set authorities, operating standards and procedures
• Use the market and internal systems to process claims advices and settlements on a timely basis
• On reinsurance business, support clients in the handling of high value or contentious claims
• On insurance business investigate and negotiate settlement of claims, liaising with co-insurers and experts and providing direction where appropriate
• Conduct client meetings to discuss and influence the direction of large or contentious cases
• Assess and calculate case reserves.
• Attend conferences with Counsel, trials and mediations as deemed appropriate and successfully communicate the Company’s views and opinions
• Organise and conduct audits and due diligence and report findings. Participate in preparatory or follow up discussions as required
• Provide underwriters with feedback from a claims perspective to assist in underwriting and pricing of business
• Represent and advance the interests of the Company at market meetings
• Support marketing of the Company through contribution to articles, research and client events
• Support Wordings Specialist in analysis and revision of wordings
• Cooperation with MR claims colleagues in furthering Claims goals set out in existing and future Claims targets.
• Make sure reporting criteria to Munich is in line with the agreement and all cases referred to Munich in line with the Reinsurance Agreement
• Provide reports and feedback for the Deputy Claims Manager on all material developments

Supervisory Duties and Tasks:

• Take steps to make sure the team under your control adhere to Company Policy, Group Guidelines and CSS’s stated operating procedures
• Work with the team to prioritise and allocate resources to meet the operating standards
• Assist Deputy Claims Manager in prioritising and organising strategic and project work. Monitor timescales for delivery
• Look to optimize resources under your control and to continually look for ways to streamline and improve efficiencies within your area of responsibility and work with the Claims Management Team as appropriate to initiate possible improvements
• Take case referrals from team members within set authority limits
• Give input for setting of key team objectives
• Assist in the appraisal process as appropriate
• Make suggestions for staff development and look for development opportunities for staff under your control

Qualifications and Educational Requirements:

• ACII
• Educated to degree level or equivalent

Benefits

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

We are one of the few employers to offer fully paid 6months family leave for times when you need it the most.

About us

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning

You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn

You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.