AVP/Claims Manager – Financial Institutions – 27623

The successful candidate will be actively involved in the negotiation of settlements, attending market meetings, and authorisation of claims, therefore must have good knowledge of London market processes. As well and adhering to all internally set Key Performance Indicators, the individual must comply with all regulatory requirements.Location: LondonCategory: ClaimsType: PermanentKey Responsibilities:Manage and monitor the performance of the Financial Institutions claims book and present the same to management and other business unitsExamine claims data and underwriting documents to determine validity of notifications received against cover provided and establish premium payment statusAssist with claim reviews and audits at the offices of Coverholders, ceding companies, TPAs and other Insurers and to report on their compliance or otherwise with terms and conditions of risks written and their overall claims handling serviceEstablish adequate reserves for the estimated amounts of anticipated loss and/or adjustment and coverage expensesNegotiate settlements and authorise claim payments in a professional and timely manner to meet the levels of service expected by the market, their customers and other stakeholdersBe technically proficient and have a proven record of successfully handling heavyweight Financial Institutions claims. Other Product Line claims (including Management Liability and/or Financial & Political Risk) experience is desirable but not essentialHave a good understanding of the insurance industryParticipate in team discussions and help foster a collaborative team approachPrevious managerial experience is desirable but not essential although the candidate must show potential to grow into the role and a hunger to further their personal development
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