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Single Risk Financial Lines Claim Expert

Date: Jan 11, 2021

Location: New York, US

Company: SCOR

     Americas     

New York United States (US) 

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Single Risk Financial Lines Claim Expert 

Permanent 

Claims 

 

 

          About SCOR         

SCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Using its experience and expertise, “The Art & Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – in Life & Health insurance as well as in P&C insurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.

 

Job Summary

This claims professional must have extensive background in the insurance industry, which includes both primary and excess insurance claim handling experience.  The ideal candidate will have a high level of technical claim handling ability for large and complex Fortune 1000 companies, particularly as it relates to liability lines of business, including Commercial Directors & Officers (including standalone SIDE A (DIC)), and professional liability.  Experience in SME claims and oversight of Third Party Claims administrator(s) a plus.  The person will operate in a team environment within Single Risks to achieve shared business objectives and will primarily manage financial lines claims arising out of accounts underwritten by Single Risk North America.  The position is an integral part of building, defining and executing the Commercial Public Directors and Officer Liability Single Risk strategy for SCOR Specialty Insurance ; deep understanding of industry policy terms conditions and attendant coverage issues; client focused initiative and requires not only claim expertise but the ability to deliver excellent customer service to stakeholders and clients both internal and external to SCOR. Claim Experts are hands-on managers of individual higher exposure/complicated claims; initiate regular contact with underwriters, actuaries and accounting staff; attend market meetings; and have the ability to review and analyse overall loss portfolios. The position reports to the AVP of Casualty Business Solutions Claims in New York.  Travel is required.

 

Key duties and responsibilities 

Oversee and manage a portfolio of P&C accounts which entails:

  • Managing a portfolio of Financial and Professional Lines claims: Evaluating and assessing coverage, policy liability and establishing case reserves based upon assessed settlement value of claims;
  • Assist Global Lines Head in executing the Single Risk D&O Strategy
  • Consolidating data and preparing reports for key stakeholders and senior management;
  • Approving financial transactions on claims within authority;
  • Collaborating and assisting in the account management of assigned accounts, often with other internal department representatives;
  • Providing marketing support to underwriters;
  • Assessing loss and expense trends on loss portfolios and assisting in the development and implementation of plans to improve results;
  • Working with, and independently of underwriting to develop and maintain key client relationships and manage the review of key accounts;
  • Working effectively with others within the claims department, particularly with other claim experts and those staffing the claim administration unit, to ensure prompt turnaround and response to clients;
  • Representing SCOR and the claims department internally and externally, including review meetings with brokers and/or policy holders on an as needed basis;
  • Keeping abreast of claim and industry developments/trends in order to maintain a high level of expertise;
  • Participating in projects as required;
  • Other duties as assigned. 

 

Required skills and Education 

  •  8+ years of financial lines claims handling experience with a focus on managing a caseload of more complex liability losses, including Public D&O and professional liability claims. 
  • The candidate will also need the ability to establish a network and relationships with clients, brokers, underwriting, and market communities.   
  • Superior claims knowledge and expertise. 
  • Acute focus on customer service.
  • Exceptional team player while capable of operating independently.
  • Excellent verbal and written communication skills.
  • Ability to assess data and information. At ease with presenting findings, ideas and other information in front of a group. 
  • Ability to bring together resources to achieve desired outcomes.
  • Comfort level with technology. 
  • College degree.  Post-graduate degree and/or industry certification/designation a plus