The Role
1. Manage and adjust all inward claims within claims handling/settlement authority and in accordance with claims handling procedures.
2. Provide assistance as and when required to the International Distribution Companies
3. Liaise with Claims Agreement Parties, Xchanging, loss adjusters, lawyers, brokers, underwriting teams and other third party experts.
4. Report claims in accordance with claims reporting requirements
5. Ensure that relevant records are made and kept in accordance with the firm’s procedures and compliance manuals.
6. Ensure the accuracy of figures held on S2000 for those claims falling within the role’s settlement authority
7. Assist in a quarterly review of open reserves to the Syndicate of claims falling within the classes of business authorised to manage, to determine whether a reserve is adequate, with a view to enabling production of accurate figures.
8. Attend claims meetings and discussions.
9. Assist in the handling of complaints and the liaison with Compliance, Lloyd’s and FCA where appropriate.
10. Understand and comply with the Lloyd’s Minimum Standards and Claims Schemes where appropriate.
11. Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
12. Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.
13. You are required to comply with the PRA and FCA conduct rules
What we are looking for
To take a proactive approach to the management of claims and to provide a quality claims service, which pays valid claims promptly and sets reserves at expected ultimate cost, effectively, efficiently, consistently, accurately and in a timely manner, whilst taking account of applicable regulatory requirements.
Handling of Energy, Green Solutions, Liability and Marine claims along with any other classes of business as deemed appropriate, within claims handling authority. Providing expertise to the International Distribution Companies where required and ensuring that any regulatory requirements are complied with.
Key Skills & Experience
14. ACII qualification/ progressing towards ACII qualification or relevant experience. Sound business knowledge and understanding of:Underlying principles of insurance practiceGeneric legal principlesFCA rules and regulationsLloyd’s regulations
15. Demonstrate clear understanding of all company specific procedures that relate to own role
16. Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the organisation
17. Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation
18. Identify, where relevant, any potential risks facing the business and the controls that are in place to mitigate them. Report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.
19. Good knowledge and understanding of claims within authority level.
Qualifications
20. 5+ years’ experience in adjusting
21. University Degree and/or relevant professional qualification
Your career with us
At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!