Director, Marine Claims
Company: Disability Solutions
Location: Chicago
Posted on: April 19, 2024
Job Description:
Let's care for tomorrow. Your ambitions. Your dreams. Your
tomorrow At Allianz Commercial (AzC), we are the global leader for
insuring corporate and specialty risks in the Allianz Group.
Whether it's aircraft, satellites, the world's biggest ships and
tallest building, cyber-attacks or climate change impacts, AzC has
the major risks covered when it comes to protecting businesses. We
are looking for a Director of Marine Claims. This opportunity will
be based in our Chicago, IL office. Across all sub-lines of Marine
Claims throughout the North America region the Director of Marine
Claims will:
- Provide technical claims guidance for complex claims.
- Supervise managers with units handling standard and complex
claims.
- Supervise the establishment of timely reserves and strategies
for standard and complex claims.
- Maintain various monthly and quarterly reports.
- Manage reinsurance notifications / communications.
- Assist with pre-issuance reviews of claims denials and Notices
of High Potential
- Working with Underwriting Department including assistance with
policy language drafting
- Participate in new business development with customers.
- Maintain positive business relationships with distribution
channel partners. The Impact You Will Have Reporting to the VP of
Short Tail Claims, the Director of Marine Claims will provide:
- Complex Technical Supervision - Technical guidance including
strategic direction to Marine, unit Managers and the entire Marine
technical claims staff on complex matters as required and overall
supervision for all claims.
- Ensure Managers consistently conduct open claim file monitoring
and one on one meetings/team meetings.
- Ensure claims handled within authority limits, and in line with
AGCS Claims Standards procedures and guidelines.
- Claims Processing and Administration - Manage all new claims
and ensure assignment to appropriate claims analyst based upon
complexity, provide technical direction as required and directly
managed utilization of external resources (ALAE management) for
claim evaluation process when required.
- Ensure the timely reserving and payment of all claims within
authority /autonomy level.
- Facilitate claims submitted for inclusion to: CAT Report,
Exgratia Report and Monthly Close Report.
- Ensure timely and accurate production of Management
Notifications such as: Notice of High Potential and Large Loss
Notice.
- Investigation and Reserving of Claims - Ensure the investigate
standard/complex claims, including coverage determination and
evaluation of potential damages utilizing independent experts.
Determine appropriate reserving levels within prescribed time
periods.
- Select and direct independent external service providers (e.g.
Coverage Attorneys, experts, accountants, etc.)
- Proactively discuss and review potentially contentious and
complex claims with management including presentations at Monthly
Claims - Underwriting & Actuarial meetings.
- Claim Resolution - Seek optimal resolutions of complex claims
within claims portfolio by accelerating fact gathering while
working with the Insured and defense counsel to manage defense
costs carefully in relation to the overall agreed-upon claims
strategy.
- Quickly identify claims requiring coverage denial within
prescribed time limit (Reg. Head approval required for coverage
denials) and personally communicates coverage position in advance
to underwriter and distribution channel prior to issuance to the
Insured.
- Negotiates to ensure efficient and competitive settlements are
achieved and proactively advocates our strategic views and
recommendations to other markets when required (E.g., Quota Share
and Excess claims)
- Compliance - Ensures all claims handled within authority
limits, and in line with AGCS Claims standard/complex claims
procedures and guidelines.
- Timely identifies and refers potential/suspected insurance
fraud ("soft" and "hard" fraud) to management and SIU.
- Market & Relationship Management - Participates in meetings
with current and prospective clients to promote AGCS claims
handling capacities.
- Assists with establishment of claims handling procedures for
new business accounts in association with clients, brokers and
underwriters.
- Proactively liaises with Underwriting on market management
initiatives. Positively represents AGCS externally to the N.A.
market through involvement with producing articles and delivering
presentations.
- Participates actively with information exchange between Claims,
Underwriting & Actuarial, particularly concentrating upon claims
trends and judicial decisions affecting coverage
interpretation.
- Develops and maintains strong relationships with key brokers
and clients and other relevant stakeholders (e.g., third party
adjusters) What You'll Bring to the Role
- Bachelor's degree or M.B.A. with sufficiently expansive
professional experience is required.
- 7 - 10 years of superior level technical competence of all
Marine product(s). Excellent strategy development, litigation
management and negotiating skills. Highly effective at managing
multiple complex matters with high financial exposures to favorable
conclusion.
- 7 - 10 years of comprehensive appreciation for the business
relationship and engages with Underwriting, Market Management and
brokerage distribution channels.
- 7 - 10 years of demonstrated advance ability to develop claims
management strategies either independently or in collaboration with
others and executes effectively.
- 5 - 7 years of excellent comprehension, application and
communication of judicial decisions affecting coverage
interpretation. Ability to advocate positions in highly effective
written and verbal presentations.
- Managing people: Ability to lead and manage a team of claims
technicians. Includes the ability to delegate tasks, steer team
direction/goals, etc.
- Prior experience recognizing opportunities for improvement,
making thorough recommendations and championing causes to
management.
- Completion of professional insurance designation (E.g., CPCU,
RPLU, A.R.M.) or a comparable Claim designation is a plus.
- Products and Coverages: understanding in relevant products,
wordings, terms and conditions and coverages.
- Claims Handling: knowledge of claims handling process from
notification to settlement and recovery.
- Reserving, reinsurance and coinsurance: knowledge of reserving
principles and practices; robust understanding of coinsurance and
reinsurance and application
- Litigation: understanding of relevant legal processes and
procedures, litigation management, litigation avoidance techniques
(e.g., mediation)
- Communication skills: Clearly and effectively express ideas and
messages via speech or writing.
- Negotiation and conflict management: Ability to negotiate best
position for AGCS, and client, often in contentious situations,
managing conflicting priorities of various parties.
- Analytical Skills: Ability to effectively absorb information
from various sources, then analyze, study, or examine data in
detail, and draw appropriate conclusions (e.g., CII) The annualized
base pay range for this role is $139,692 to $239,408. The annual
base salary range represents a nationwide market range. The actual
salary for this position may be above and will be determined by
several factors, including the scope, complexity and location of
the role, the skills, education, training, credentials and
experience of the candidate. The base pay is just one component of
the AzC total compensation package. As part of our comprehensive
compensation and highly rated benefits programs, employees are also
eligible for annual performance-based cash incentive awards. 40285
- Customer Services & Claims - Management - Allianz Executive -
Allianz Commercial - Full-Time - Permanent What's in it for you?
Let's care about everything that makes you, you. We are committed
to nurturing an inclusive environment where everyone feels they
belong. We offer a hybrid working model, which recognizes the value
of striking a balance between in-person collaboration and remote
working. Please feel free to discuss flexible working arrangements
with us. Let's care for your financial wellbeing. We believe in
rewarding performance with a great compensation and benefits
package (details vary by location), including a generous bonus
scheme and 401K. Let's care for your opportunities to progress.
From career development and digital learning programs to
international career mobility, we offer lifelong learning for our
employees worldwide and an environment where innovation, delivery
and empowerment are fostered. Let's care for life's twists and
turns. From our support for flexible working, health and wellbeing
(including private healthcare and generous parental leave
benefits), to helping people return from career breaks with
experience that nothing else can teach. We've got your back. Let's
care for our society and our planet. With opportunities to be
engaged in shaping a future that is safe, inclusive and
sustainable, we care for the tomorrows of our people, our industry
and our clients. Care to join us? Allianz Commercial (AzC) is a
global corporate insurance carrier and part of Allianz Group. We
provide risk consultancy, Property-Casualty insurance solutions and
alternative risk transfer for a wide spectrum of commercial,
corporate and specialty risks across 10 dedicated lines of
business. Learn more about us by clicking . Allianz is an equal
opportunity employer, and therefore welcomes applications
regardless of ethnicity or cultural background, age, gender,
nationality, religion, disability, sexual orientation or any other
protected characteristic. Diversity of thinking is an important
part of our company culture. Recruitment Agencies: AzC has an
in-house recruitment team, which focuses on sourcing great
candidates directly. AzC does not accept unsolicited resumes from
agency or search firm recruiters. Fees will not be paid in the
event a candidate submitted by a recruiter without an agreement in
place is hired. When we do use agencies, we have a PSL in place, so
please do not contact managers directly. #LI-Hybrid Nearest Major
Market: Chicago
Keywords: Disability Solutions, Chicago , Director, Marine Claims, Executive , Chicago, Illinois
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