Job Description
Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.
Our Claims Vision is to continually push the boundaries of customer excellence through an empowered, collaborative and innovative approach to claims. We aim to be the envy of the market.
Canopius is seeking an enthusiastic and passionate Loss Fund Coordinator on an 18 month FTC, whose core responsibilities will be to support the proactive delivery and management of the end-to-end loss fund process, spanning Traditional, Vitesse, and Fast Claim Payments (FCP) methodologies.
This role is critical to ensure adherence to best practice policies and procedures in the delivery of our robust control and process framework for legacy, current, and future loss funds
Duties will include completion of operational tasks and support in the validation and reconciliation of Third-Party Administrator (TPA)/Coverholder held loss funds.
There will be a number of responsibilities, expectations and ad hoc tasks that are an integral part of this dynamic role, which calls for a proactive working style, a can-do approach, and an ability to engage effectively with both internal and external stakeholders.
We are primarily seeking an individual with the motivation, drive and enthusiasm to deliver excellence in all areas of their work. We can promise a diverse range of tasks, working in a highly collaborative claims team committed to delivering our Claims Vision.
- You will support the development, documentation, and successful adoption of FCP across the organisation. This includes the end-to-end life cycle of the FCP process, from the initial assessment and set up of FCP loss fund accounts, downstream reporting to key stakeholders and, renewals.
- You will be responsible for supporting in managing the end-to-end loss fund process (legacy, current and FCP), ensuring that they are maintained in accordance with the policy and procedures and where any potential issues are identified, these are flagged with relevant stakeholders
- In line with our culture of driving continuous improvements, you will be responsible for proposing and thereafter, implementing any changes to our loss fund processes, ensuring they meet our business and regulatory requirements.
- You will act as the key loss fund referral point for internal stakeholders, including our outsource partners.
- You will act as the liaison contact for our internal/external auditors.
- You will work closely with our outsource partners, who track, coordinate and monitor the flow of work required to meet the loss fund functions objectives e.g. timely loss fund reconciliation and quality output, ensuring where performance issues are identified, corrective action plans are suitably agreed/deployed.
- Ensure that loss funds reconciliation documents requested from DCAs are received in line with reporting requirements and SLAs
- Liaising with our finance dept. Regarding loss fund reconciliations, and ensuring appropriate funds are held in our FCP account
- Maintain excellent communication with team members, the wider management team and stakeholders.
- You will collaborate with the wider Canopius claims team where there are areas of overlap, to share learns and relevant information and actively contribute to projects.
- A positive, enthusiastic and confident disposition
- Act with honesty, integrity and fairness at all times.
- Ability to prioritise and proactively meet deadlines.
- Customer focused and keen to provide the highest quality of service delivery.
- Being open, honest, warm and respectful in all communication
- Self-starter, self motivated and driven.
- Able to work both independently and as a team player
- Proactive working style and can-do approach.
- Some experience of working in the London Market would be preferable.
- A basic level of understanding and/or experience in loss fund processes and procedures would be preferable.
- Organised with good attention to detail and a high level of accuracy.
- Display excellent communication and interpersonal skills.
- Competent with powerpoint, excel and working with data
