Claims Adjuster (Insurance)

The purpose of the Claims Adjuster role is to settle claims within authority as efficiently as possible. This will include the technical assessment of claims and the formation and implementation of strategies, to bring the claims to swift resolution. The role will involve adherence with all operational procedures and adopting a settlement strategy.

The role will report to the Shared Services Team Leader and will work closely with peers, stakeholders, external suppliers and management to deliver a One Team Approach and advance the implementation of the Claims Strategy.

Responsibilities

• Maintain high performance within your team; effectively handling any issues which may arise, referring as and when appropriate, with an emphasis on the quality of claims outcomes.
• Adhere to company Claims processes and procedures.
• Ensure you meet any Assurance Actions which are required from any Assurance activities.
• Support the Claims response in the ICF/JSOX control environment. Adherence to Reserving philosophies and methodologies, ensuring you understand and practice the reserving methods.
• Performance in accordance with agreed KPIs including cycle times, SLAs and other agreed measures and ensure performance meets or exceeds plan/expectations.
• Adjust claims in accordance with agreed authority limits and in line with current client's claims procedures and service standards.
• Handle all claims in accordance with JSOX/ICF as well as external obligations including Lloyd’s Minimum Standards, ICOBS/PRA and other regulatory legislation.
• Understand your Claims portfolio, including quarterly developments. This includes understanding the profile of your open claim portfolio, new notifications, closures, static/nil reserve claims, key financial movements and reserving performance.
• Work closely with Brokers and Clients to improve the Client experience by placing them at the heart of our service and the decisions we make.
• Undertake an ambassadorial role on behalf of the client in the Lloyd’s and local marketplace.
• Understanding of Insurance layer structure
• Ability to read & interpret slip/ binders to identify terms & conditions.
• Generate insights that enables better risk management based on knowledge of client data.

Qualifications

• Graduate in quantitative sciences.
• Have at least 3 - 5 years of working experience in an insurance company
• Knowledge and experience of dealing with Lloyd’s/London Market
• Class Specific Claims knowledge and experience in dealing with DXC/Xchanging business solution for Lloyd’s managing agent
• Ability to objectively evaluate and analyse situations to ensure commercial and pragmatic solutions.
• Knowledge of Claims procedures and best practice
• Judgement and decision making capability.
• Highly effective communication and negotiation skill
• A desire to develop and improve and be the best you in the workplace
• A willingness to study