Job Title: Claims Focus Group Leader – Marine, Hull & War
Division: Group Claims
Reports To: As per Beazley’s organisation chart
Key Relationships:
Group Head of Claims (“GHOC”), Claims Team Head (“Head of”), Claims Team Leader (“CTL”), Claims Business Management Team (“CBMT”), Underwriting & Claims Operations (“UCO”), own staff, product team underwriters, Ceded Reinsurance, clients, brokers, and key external vendors.
Job Summary:
To support Beazley’s vision of being the highest performing specialist insurer by leading, managing, and developing a premier claims team that delivers the highest level claims service attainable for the benefit of Beazley, its clients, and other stakeholders, and ensuring consistent, fair, and efficient claims settlements. To support the development of a collaborative approach to learn, share ideas and diverse perspectives, and develop ways of working to best meet the challenges of our clients. To contribute to the ongoing growth and development of claims capabilities across the team and the mentoring and development of team members.
Key Responsibilities:
Strategy and Business Planning
- Assist the CTL to develop and execute delivery of the Beazley claims vision.
- Work closely with CTL and relevant product team underwriters to achieve integrated claims and underwriting business plans for the product, including contributing to preparation and realisation of the annual claims product team business plans.
- Share and develop best practices both within the focus group and where relevant with other teams.
- Share information and collaborate with relevant counterparts to ensure consistency in claims handling.
- Support the CTL and provide inputs into claims strategy and business planning activities as appropriate.
Partnering with Underwriting
- Work closely with product team underwriters to share information, coordinate on strategies, product development, and maintain consistent approach.
- Contribute to new business development and renewal opportunities by attending client meetings to explain the Beazley claims philosophy and approach to claims handling, and discussing any claims issues.
- Provide Underwriting with input regarding actual or anticipated claims experience of specific clients.
- Provide product team underwriters with timely input regarding perceived claims trends and developments.
- Identify and raise any issues with Policy wordings.
Focus Group Team Management and Development
- Work closely with the CTL and People & Sustainability to recruit, onboard, retain, and develop claims professionals of various experience levels to execute our claims strategy.
- Ensure that all employees have the knowledge and the skills necessary to perform effectively in their given roles and responsibilities and have appropriate job descriptions setting out their responsibilities and reporting lines.
- Advise the CTL of any resourcing needs based upon business plans, claim volumes, workloads, and segmentation.
- Work with the CTL to maximize the productivity, efficiency, and quality of work of focus group members through active monitoring of claims management information (“MI”).
- Ensure optimal segmentation and allocation of claims across the focus group.
- Assist in providing general claims and/or specific technical training to individual team members.
- Ensure all individuals within the focus group operate within approved claims authorities at all times.
- Mentor focus group members and help advance training and career progression.
Individual Claims Leadership
- Manage insurance claims of varying severity and complexity on a proactive basis from notification to closure, investing the necessary level of involvement required for each claim depending on the nature, category, maturity, type, and quantum of the claim.
- Adhere at all times to Beazley’s Claims Reserving Philosophy and Standards.
- Develop, iterate, document, and execute claims strategies taking into account uncertainties, key decisions, potential outcomes, and estimated associated costs.
- Understand and implement Beazley’s Conduct Risk Policy.
Claims Portfolio Management
- Manage an insurance claims portfolio to optimise performance including the:
- Review of individual claims within the portfolio on a regular basis and ensuring reserves and claims records are maintained in a timely manner as required by Beazley’s claims controls and standards.
- Identification of issues and trends in the portfolio, consult management/peers if required, and take appropriate and/or corrective action.
- Communication of any material claims to Reinsurance and Finance as set out by the applicable claims authority, claims protocols, and procedures.
- Working with Reinsurance to effect claims recoveries.
Strategy and Business Planning
- Maintain an awareness of the overall strategic objectives and business plans of the Beazley claims function to the degree required to identify gaps or future opportunities to Claims Management.
Working with Underwriters
- Develop an understanding of marketing and underwriting strategies for the respective business area.
- Contribute to business development and renewal opportunities through attending client meetings to provide inputs regarding the Beazley claims philosophy and claims handling approach.
- Provide inputs to client meetings regarding specific claims issues.
- Provide input to underwriters on review of potential or existing insured’s claims experience.
- Identify claims trends and developments and communicate their potential impact on the book.
- Identify wordings issues and suggest policy wording improvements.
Authority & Minimum Standards Observance
- Operate within approved claims authorities at all times.
- Maintain a thorough knowledge of industry regulations and minimum standards.
- Ensure compliance with the regulations and Beazley’s claims control standards and protocols.
Third Party Management
- Adhere to Beazley’s procedures for the selection and retention of monitoring/Underwriters’ counsel and other 3rd party professionals and manage relationships to the benefit of Beazley.
- Hold overall ownership and accountability for delegated relationships as needed including appropriately managing escalation of items from delegated partners.
- Review TPA performance data consistency with claims service requirements, claims best practices, and financial goals on a periodic basis.
- Conduct file reviews or audits as required, and resolve any issues identified.
- Provide feedback on a regular and proactive basis regarding the claim actions undertaken by the Third-Party Administrator (TPA).
- Propose strategies for future claims handling, review case reserve adequacy, and ensure the TPA remains focused on claim finalisation.
Broker and Cedant Relations
- Work proactively to develop and manage strong relations with key brokers and cedants.
- Promote the Beazley brand of excellence and professionalism in client service.
Operational
- Ensure the management of claims conforms to the agreed standardised processes and use of share service functions as appropriate.
- Contribute to the commitment to, and active development of a continuous improvement culture within the overall claims function.
- Support the Claims Business Management Team and Claims Solutions Team to identify and implement business performance improvement opportunities.
- Development and Mentoring of Junior Staff
- Assist claims management and peers to develop, mentor and empower junior staff.
- Ensure junior staff in the business unit have the knowledge and skills necessary to perform effectively in their given roles and responsibilities and increase their versatility for the broader Beazley business.
- Serve as a positive role model for junior staff.
Conflicts of Interest
- Adhere to Beazley’s Conflicts of Interest policy, alert the appropriate person to any potential conflicts of interest, and take steps to resolve them promptly.
- Immediately advise your Head of or Group Head of Claims if any Beazley employee seeks to exert undue influence on you or any other team member to act improperly in the management, reserving, or settlement of any claim.
General
It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:
- Comply with Beazley procedures, policies and regulations including the code of conduct, which incorporates the PRA and FCA Conduct.
- Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
- Adjuster license(s) may be required as part of your job responsibilities. If required, those licenses must be obtained within the first 90 days of your employment and in accordance with an individual licensing plan established by Beazley Compliance and your Manager.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups
Personal Specification:
Education and Qualifications
Skills and Abilities
- Good leadership skills with the ability to influence and manage a team of professionals
- Process management skills - able to review existing processes and procedures; making recommendations for rationalisation/improvement
- General commercial and financial knowledge
- Strong communication skills – able to communicate at all levels, both verbally and in writing
- Good motivational skills – able to build and manage strong teams
- Strong focus on time management, able to manage several diverse and concurrent projects
- A demonstrable track record of strategic thinking
- Strong analytical skills with the ability to analyse financial statements, make financial assessments of claims, etc.
- Hands-on implementer, able to drive through change where appropriate
Knowledge and Experience
- Experience in insurance industry, including preferably the Lloyd’s Market
- Experienced in US/international business
- Demonstrable process/project management skills
- Experience of claims management guidelines, claims processes and systems
- Client service experience gained within an insurance environment
- Experience of managing team of technically strong professionals working on diverse projects
- Experience of managing teams with a demanding and pressurised workload
- Experience of implementing process improvement, ideally within a traditional environment
Aptitude and Disposition
- Achievement orientated
- Self-motivated, flexible and enthusiastic
- High energy and personal drive
Competencies
- Problem solving
- Decisiveness
- Customer focused
- Influencing others
- Team work
- Self-starter
- Analytical thinking
- Managing resources effectively
- Technical competency and expertise
- Strong interpersonal skills
- Task focused completer/finisher
