Reinsurance Claims Lead

Reinsurance Claims Lead

Requirements

• Bachelor’s Degree or equivalent experience in insurance or reinsurance.
• 5+ years experience with casualty lines of business including at least Professional Liability, General Liability, Casualty, Marine and or Surety.
• A firm understanding of insurance and reinsurance terminology, including familiarity with various lines of casualty business, insurance coverage and reinsurance treaty types.
• The ability to evaluate insurance claims and exposures for proper reserving under a reinsurance program.
• A thorough understanding of common reinsurance contract terms and conditions, including the scope of business covered, common exclusions, aggregate and treaty limits, retentions, application of annual aggregate deductibles, and the impact of these terms and original policy conditions on each claim.
• Strong written and verbal communication skills. Ability to communicate with brokers and cedents in a timely and concise manner.
• Competent negotiation skills
• High standard of professional ethics and integrity
• Strategic thinking and vision
• Emotional Intelligence
• Motivational skills
• Strong analytical, problem solving and organizational skills.
• Proficiency in Microsoft suite including Word, Excel and Power BI skills

Responsibilities

• Proactively manage a team that handles casualty reinsurance claims from notification through closure, ensuring each gets the necessary level of investigation, depending on the nature and value of it, including but not limited to analysis and determination of eligibility of claims, verifying claims are correctly ceded to the correct contract and year and verifying proper policy and treaty provisions and limits are applied.
• Ensure that your assigned casualty reinsurance claims team is establishing appropriate reserves in a timely manner, including consideration of additional case reserves when appropriate.
• Effectively use available claims data reporting, including developing any reports necessary to ensure optimal workload distribution and quality claim service.
• Monitor reinsurance claims Key Performance Indicators for your assigned casualty reinsurance claims team on a weekly, monthly, and quarterly bases to ensure all members are actively managing their portfolio of claims work, accurately documenting the claims files and are in compliance with internal and external service levels.
• Review larger and more complex claims against the governing reinsurance treaty to determine the nature of loss, coverage, applicable law and identify when payment is due or effectively communicate when it is not.
• Serve as a resource and provide advice to casualty reinsurance claim professionals and AXIS Re team members on technical claim matters including but not limited to coverage analysis, application of reinsurance treaty terms and conditions, appropriate aggregation and allocation of reinsured losses, identification of emerging trends, and other claims related matters
• Manage the team’s Cedent claim audit process including participating in and supervising team members’ participation in claim audits planning meetings and both on sire and remote claim audits as well as meetings with underwriters, actuaries, brokers/cedents as appropriate. Ensure audit reports are clearly written, timely and accurate. Travel may be required to conduct claim audits for assigned portfolio of cedents.
• Negotiate and resolve claims directly with cedents or brokers and provide support and development opportunities for less experienced reinsurance claims team members in doing the same.
• Engage with cedents, brokers and 3rd party vendors, to identify opportunities to assist in mitigation of claims experience.
• Identify developing trends and anomalies in the casualty book of claims and recommend appropriate strategies which could include changes to procedures, cost containment strategies, and client or peer education presentations, among other strategies.
• Promptly communicate pertinent loss development and emerging trend information with AXIS Re colleagues in underwriting, account management, and actuarial.
• Proactively manage team resources. Continuously review workloads, procedures and processes to ensure optimal efficiency and customer service. Identify opportunities for process improvements and escalate recommended solutions to management.
• Engage in department and company initiatives and discussions.
• May be asked to prepare presentations for clients, brokers or AXIS colleagues as appropriate from time to time.
• Build strategic relationships in the industry to support informed and best in class reinsurance claims handling.
• Participate in professional associations/professional development activities and industry conferences to gain expertise, industry information and insights, to share with AXIS colleagues and develop a network of peers.

Preferred Qualifications

• A law degree
• Experience in insurance or reinsurance contract interpretation and dispute management.
• Prior experience as a reinsurance claims analyst.