Senior Claims Handler

Grade: 3Reporting to: Head of Property ClaimsLocation: London

About Us

IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.

The Role

With a core focus on Property classes, the Senior Claims Handler will be responsible for the day-to-day management of claims assigned to them and expected to service to a high standard within a designated authority. At all times in accordance with internal guidelines, market practices, relevant legislation and case law.

The ideal candidate will already have strong and demonstrable experience and technical competence within the Lloyd’s and/or London Market, handling direct or reinsurance claims. Such experience should include claims-file management skills together with excellent working knowledge of market systems and processes. IQUW’s Claims Team holds itself to outstanding levels of customer service (both to internal and external stakeholders).

Key Responsibilities

Proactively adjust, assess and manage assigned claims within a defined authority, in accordance with IQUW’s Claims Management Guidelines. Escalate large and/or complex claims, referring appropriately where support or guidance is needed or required.

Define file strategies and negotiate settlements in accordance with policy terms and conditions.

Ensure coverage is accurately reviewed and that reserving is correctly set and maintained throughout a claim’s life cycle.

Ensure compliance with applicable Lloyd’s standards and all regulatory and statutory requirements relating to claims handling.

Report on large losses expediently, both internally and to defined external stakeholders, including reinsurers.

Support and collaborate closely with Underwriters, including attendance at regular team meetings, provision of claims-related information, support with policy wordings and endorsements, and attendance at pre-inception/renewal/claims review meetings, as required.

Provide assistance to and collaborate with pricing and reserving actuaries, management information team, outwards reinsurance team, finance, and other internal stakeholders.

Assist with reviews of vendor panels; claims audits and service-provider audits.

Assist with legal and/or claims studies and presentations both internally and externally.

Support the Head of Claims by contributing to the claims strategies and the underpinning of infrastructure to meet the needs of IQUW, in line with growth plans.

Mentor and coach the more junior team members, including referral support.

Travel domestically or internationally, as required.

Essential Qualifications, Skills and Experience

Relevant experience in commercial / specialty insurance within the Lloyd’s and/or London Market. ACII completion (or working towards).

Experience with or understanding of reinsurance. Owns decisions and uses commercial awareness to reach them.

Track record of managing lawyers, loss adjusters and other significant third-party service providers in relevant markets.

Experience in large loss management.

Awareness of regulatory requirements around claims management in the London insurance/reinsurance market, including delegated authorities.

Knowledge of the UK and US legal systems, with experience in US claims handling preferred.

Builds impactful relationships and leverages them to achieve outcomes. Experience in market meetings with insurers/reinsurers and service providers and confident in client and broker engagement. Exhibit an established peer network with brokers, other insurers and service providers. Interest in developing personal and company brand at external events.

Leads by example, exhibits a positive attitude, championing the company culture and focuses on performance and driving results.

Thinks strategically and holistically with a service-oriented mentality toward the role.

For the full job description, please see here.

Permanent Full-Time