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Allied World is an ideal place for talented professionals who are driven by a belief in the value of collaboration and the power of knowledge.
We believe that when our great people work together and support one another, our clients receive the best solutions. We embrace unique perspectives and empower each person to grow through professional development, career training, and mentoring programs.
Our people are our most important asset, and we are very proud of the quality of our team members.
Responsibilities:
* Analyse claim notices for proper attachment to reinsuring agreements and years of account.
* Identify and evaluate notices for potential exposure of company’s financial interest.
* Prepare claim correspondence to brokers and ceding companies on questions of coverage and claim value.
* Investigate, follow-up, and otherwise monitor the development of claims.
* Establish and authorize adequate reserve amounts based on evaluation of liability, damages, and other obligations set forth in the reinsuring agreements.
* Negotiate settlements and compromise payments within specified authority with authorization and under supervision of AVP Reinsurance Claims.
* Set-up and authorize claim payments within specified authority.
* Liaise with underwriters, legal counsel, and outside vendors on coverage, liability, damages, and settlement issues when assigned.
* Prepare claim and statistical reports on both ceded and assumed business when requested by VP Reinsurance Claims.
* Prepare and present case evaluations to claims, underwriting, and corporate management.
* Coordinate strategies for resolving coverage disputes.
* Assist in projects and reports as required.
* When assigned to ceded reinsurance business, create reporting and billing files for direct claims.
* Prepare and present reports and invoices to reinsurers of the company.
* Participate as requested in settlement and collection of disputed collections of ceded reinsurance balances from the company’s reinsurers.
* Maintain the system for identifying, billing, and collecting outward reinsurance claims on all lines of direct business when assigned to the ceded reinsurance administration area.
* Perform in-house audits of assumed reinsurance accounts as requested.
* Create and maintain a statistical reporting system for pending ceded reinsurance claim portfolio.
* Monitor collections of ceded reinsurance balances when requested.
* Assist in the training and direction of activity of the Claims Assistant as directed by the department Assistant Vice President.
* Continue advanced professional education programs and seminars as agreed with the Assistant Vice President.
Person Specification:
* Bachelor’s degree or equivalent experience.
* Insurance related courses or certificates are an advantage.
* 5-10 years of claims handling experience, preferably including the Lloyd’s and UK markets.
* Reinsurance experience strongly preferred.
* Working knowledge of the Microsoft Office Suite.
* Strong business writing skills.
* The ability to work in a team environment.
* Excellent organisational skills, and the ability to work on multiple tasks concurrently.
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Analyst
Industries
Insurance
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