About us
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
Please see our website for more information.
Claims Adjuster, Energy & Complex Risk Claims
This is an important role in our growing Specialty, Property & Casualty London Market portfolio. This individual will be responsible for handling claims in a diverse and complex claims portfolio arising from (inter alia) our Energy, Casualty (US and International), Liability (Marine and Energy), Space, Political Risks & Credit, and Political Violence & Terrorism. The role will be focussed on third-party Casualty (US and International) and third-party Liability (including Marine and Energy Liability) claims predominantly.
The individual will be part of a leading market team which promotes a culture of diligence, curiosity, positivity and inclusion within the organization. They will be expected to take a proactive approach to the management of claims and to provide a quality claims service, which pays valid claims promptly and sets reserves in line with our reserving philosophy whilst taking account of applicable regulatory requirements.
Responsibilities:
- Manage, adjust, and settle a portfolio of claims within claims handling/settlement authority and in accordance with claims handling procedures and SLAs.
- Liaise with clients, brokers, Claims Agreement Parties, Xchanging, loss adjusters, lawyers, TPA’s, underwriting teams and other third party experts as appropriate.
- Report claims in accordance with claims reporting requirements to internal stakeholders.
- Ensure that relevant records are made and kept in accordance with the firm’s procedures and compliance manuals.
- Ensure the accuracy of figures held internally for those claims falling within the role’s settlement authority, including suitable and timely reserves.
- Assist in a quarterly review of open reserves to the Syndicate of claims falling within the classes of business authorised to manage, to determine whether reserves are adequate, with a view to enabling production of accurate figures.
- Assist in the handling of complaints and the liaison with Compliance, Lloyd’s and FCA where appropriate.
- Understand and comply with the Lloyd’s Minimum Standards and Claims Schemes where appropriate.
- Proactively participate in initiatives, projects and other tasks related to the role and business when required.
Knowledge and Skills
- University Degree and/or relevant professional qualification.
- Claims handling experience in a relevant field.
- ACII qualification/ progressing towards ACII qualification or relevant experience. Sound business knowledge and understanding of:
- Underlying principles of insurance practice
- Generic legal principles
- FCA rules and regulations
- Lloyd’s regulations
- Demonstrate clear understanding of all company specific procedures that relate to own role.
- Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the organisation.
- Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation.
- Identify, where relevant, any potential risks facing the business and the controls that are in place to mitigate them. Report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.
- Good knowledge and understanding of claims within authority level.
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!
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. 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.
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.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Learn more about sustainability at Munich Re
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– choose your impact!
#BePresent #BeBold #BeCurious
